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Old 03-26-2012, 09:14 PM   Nav to Top  #1
asiaforexmentor
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Default How to be consistently profitable in forex trading.

Forex Trading Strategies – How to be consistently profitable in forex trading

FOREX TRADING STRATEGIES

I always get the same questions from forex traders around the world:
“Ezekiel, I can’t seem to be consistently profitable in forex trading”
then they may follow on by “I know my forex trading strategy works.. but i just can’t get profits month after month..”
These are the questions that i get frequently. And this is my general answer to them.
I will usually ask them back:
“So, are you keeping track of your trades?”
You see, to be consistently profitable. You cannot forgo this important step.
That is TRACKING.
All successful businessman tracks their own and their company’s performance.
This also applies to successful forex traders.
You must have a proper and systematic way to track your trades and your success.
So that you can see if you are on the right track to success or if you are not even on the track..
Forex Trading Strategies – How to be consistently profitable in forex trading

Here are some simple ways to track your forex trades:
Firstly, you have to just focus on just 1 forex trading strategy at 1 time.
You cannot trade different forex trading strategies together at 1 time, at 1 account.
If you do that -
My question to you is:
How do you know which forex trading strategy is working for you? And which is not working?
Therefore, start trading 1 strategy at 1 time.
Be specific on the strategy and do not deviate or change random stuffs.
Eg. changing the way you enter, exit trades etc.
It has to be consistent all the way.
So run this strategy trades for 20 trades.
At the end of the test, what is your account status?
Are you profitable, breakeven or negative?
Then ask yourself, did you change anything along the way, among the different trades?
eg. the lot size is different, or you should not have entered a certain trade, but you entered anyway.
If there is a deviation – a change,
then you have to restart the entire test.
By using this method of tracking, you will be able to clearly see whether the forex trading strategy you are using is working for you.
Forex Trading Strategies – How to be consistently profitable in forex trading

Besides, i will recommend you to take screen shots of the trades you entered.
This way, you can review all the 20 trades you have entered once the test is completed.
And you can clearly see what are the mistakes you have made on some trades and what are the things you did right on certain forex trades.
This method will prevent you from repeating the same mistakes again.
Ezekiel Chew
Asia #1 Forex Mentor
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Old 11-12-2012, 10:48 AM   Nav to Top  #2
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Hi,
Asia Forex Mentor's forex course is now FREE!

A complete professional forex trading system that even newbies can apply instantly.
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Old 06-13-2014, 03:26 AM   Nav to Top  #3
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One has to focus on trading, not just on making money and has to develop a strict daily trading routine to develop positive trading habits.
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Old 06-20-2014, 04:55 AM   Nav to Top  #4
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just look on this company ALPC , they grow every day !
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Old 07-22-2014, 08:20 AM   Nav to Top  #5
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For earning profit in forex trading concentration, knowledge, skills and patience of the traders are necessary.
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Old 07-25-2014, 07:39 AM   Nav to Top  #6
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Patience is important in Forex trading to earn money.
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Old 11-27-2014, 08:07 AM   Nav to Top  #7
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Knowledge of currency market and how does it works, actually, is an important aspect.
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Old 02-01-2015, 04:37 AM   Nav to Top  #8
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No one can constantly win the markets. You have to accept the fact that the losses will come along the way and you have to know how to learn from them. From my point of view, a trader has to have 65% of wining of 1:1.5 RR (Risk-Rewards: ratio between losses and wins). In order to get there, beside a good forex trading strategy, you need to have excellent money management skills, which I believe, is the most important element of successful trading. Good Luck!
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Old 02-12-2015, 07:02 AM   Nav to Top  #9
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You just cannot rely completely on a service and there is no short cut formula to success. I agree here with amrapalispot that patience is very important when it comes to Forex trading. Slow but steady moves can help you get ahead in the road.
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Old 05-26-2015, 06:51 AM   Nav to Top  #10
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Consistency depends on many factors. Strategy, trading plan and market analysis and many more. However, you can use signals services or trading software to make consistent profit from trading. BinaryOptionsBeast.Com is a reliable binary options trading indicator which is pioneer to reduce the losses and increase profits.
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