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Foreign Currency Exchange Trading Tips: The Real Power of Being a Consistent Forex Trader. By: Jay Molina From: http://myfxventure.com/ What does it mean to be a consistent trader? It means to stick to your trading plan, strategy, and trading system under any market conditions. The ability to be consistent and have the confidence to follow your strategy and trading plan is critical to achieve positive results. In this part of my foreign currency exchange trading tips series I will be covering the main benefits of perseverance and being a consistent Forex trader. Consistency allows you to take full advantage of compounding: compounding is the ability of an asset to generate profits, which are then reinvested in order to generate their own earnings. In other words, compounding refers to generating earnings from previous earnings. Through consistency you can make your profits work for you and produce even more profits. The science behind being consistent with your trading strategy is that you will become less exposed to the psychological manipulation of the market. When you have a successful Forex strategy and you put all of your trust on it you will be able to commit less mistakes and never again close trading positions early. Profitability usually comes with consistency: Disciplined traders are consistent with their strategies and never deviate from their trading plan. This is why they are more profitable and make more money than 90% of the rest of the other traders. Once you have found a trading strategy that works for you the best thing to do is to stick to it and follow it to the letter. The main reason most traders never achieve any significant level of success us because they fail time after time to be consistent. Once you become consistent profitability is just around the corner. Consistency will allow you to open your eyes and see new opportunities: When you follow your system and respect all of its rules you eventually master it and become pretty fast at executing it. This will allow you to pay more attention to other opportunities that are around that you might not have seen because you were too busy trading. For instance, I discovered a highly profitable trading system while I was grilling some food by the pool (and of course trading). I almost could say I discovered it by accident. However, I would


have never found it if it wasn’t because I had some free time on my hands. Focus on becoming consistent and it will allow you to become more perceptive and discover new opportunities. To become consistent focus on the process not on the profits: This is one of the biggest things I have learned about trading. Anyone who focuses on the money is not going to succeed as a trader. Why? Because as humans we do not see $5,000 as a trading transaction we see it as a month’s salary or the bills for one month. On the other hand, a trading system sees $5,000 only as a number and executes whatever order we give to it. As a result, a trading system allows you to take out your emotions out of the equation and profit consistently. I have seen several investments opportunities but I have never seen one as rewarding as profitable foreign currency exchange trading. In conclusion, the power of consistency can do incredible things for your trading and your life and becoming consistent and disciplined should be your higher priority. Best regards, Jay Molina Pro Forex Trader & Educator Did you enjoy my article? You will enjoy my free 42 chapter course even more! For a limited time I am giving away my $2,000 FX trading course, the Smart Trader Pro, you can get a FREE copy of it below ===== >http://myfxcourse.com/

Foreign Currency Exchange Trading | The Real Power of Being a consistent Forex Trader  

know the benefits of being a consistent forex trader

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