How To Make Consistent Profit In Forex

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How To Make Consistent Profit In Forex – When you’re learning to trade, it’s hard to understand where you are in the process. It can be very confusing and that is why over 90% of traders fail at Forex trading. This post will give you a definite roadmap to trading success.

After talking to hundreds of professional traders over the years, and doing everything under the sun to upgrade my trading psychology, I have come to understand that there is a basic and repeatable process behind becoming a successful trader.

How To Make Consistent Profit In Forex

How To Make Consistent Profit In Forex

I haven’t seen this roadmap published anywhere online, so I created one for you. If you prefer the text version, it will be provided after this video.

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When people learn to trade, most of them go through: Create a trading plan > Add to toolbox.

If you’re one to overanalyze these kinds of things, just do your best and go with it. Understanding 60% of your trading personality will keep you infinitely ahead of obsessing over getting it 100% right…and never starting!

Once your trading personality profile is hashed out, you’re ready to get started with your trading plan.

Many traders fail because they understand their trading personality, but then they jump on the bandwagon of the last trading strategy they saw on YouTube.

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For example, they may be best suited for swing trading, but get excited about the latest day trading strategy they’ve seen…and create a day trading plan.

If day trading does not match your temperament and lifestyle, you will probably fail.

Strategies are available everywhere, most of them for free. The dirty little secret to trading success isn’t the trading strategy itself.

How To Make Consistent Profit In Forex

The secret to trading success is finding strategies that match your personality, then following an iterative process that helps you master that strategy…or figure it out.

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So now find a trading strategy that works with your personality. We’ve highlighted a few here, but you can use any strategy you find online.

You’re just testing at this point, so don’t worry about making the plan perfect or profitable. You will learn as you go.

…but before you go to work, set a target for how much you want to average each month with your trading strategy.

There is no “real” value here, but remember that developing a trading strategy that delivers astronomical returns every month is very, very, very difficult.

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Now I don’t necessarily believe that, the way he means it, but there are definitely different sets

Also keep in mind that you cannot achieve that goal with one currency pair. But if you trade 20+ currency pairs, it can add up.

Some trading strategies cannot be backtested. If that is the case for you, then proceed to step 3.

How To Make Consistent Profit In Forex

But if your strategy can be backtested, fire up your favorite backtesting software and start testing. If you’ve never backtested, you can read our free beginner’s guide here.

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You can use different software for backtesting and you can do manual or automated testing. Just choose what works best for you.

Sweet, now you have some data to look at. It helps to see it with other traders.

Once you have something that works for you, it’s time to do beta trading…otherwise known as forward testing.

Now you are going to trade your strategy in live market conditions. It is highly recommended that you do this in a demo account or a very small ($1,000 or less) nano lot account.

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Caution: Do not trade your strategy with full size risk yet. If you do, you will set yourself up for failure.

This is another point where most traders fail time and again. They trade their full-sized accounts and expect similar results in their backtesting.

On top of that, when you’re faced with the added stress of losing a significant amount of money, it can take you down really fast.

How To Make Consistent Profit In Forex

So keep the pressure off and focus on the process. If you can practice without worrying about money, then you will be better off.

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Do you trade the same strategy as your backtesting? Review your backtesting trades and analyze your charts.

Also look at the day of the week and time of day you are entering your trade.

There may be deals that you can pick up in backtesting, which you can’t pick up in forward testing. This could be due to work, family obligations…or that pesky thing called sleep.

If you cannot compensate for these factors, you may have to start over and change your original trading plan.

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This may be an easy fix for the problem and if you can identify it, then adjust and continue forward testing.

If you hear these voices in your head, don’t beat yourself up over it. Your greatest ally in business is the ability to forgive yourself.

Obviously, this is not something you can figure out overnight. This may take some time to work through.

How To Make Consistent Profit In Forex

Rest assured that once you discover some of these mental “gremlins” in your business, they will help you in other areas of your life as well.

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All limiting beliefs come from some form of trauma. It can happen in your childhood, adulthood or even before you are born.

You want to find out if there are any live trading issues that stand in the way of consistently profitable trading.

You may need to create a new trading plan. This doesn’t happen a lot, especially if you’ve gotten this far, but it can happen.

Once you are able to demonstrate consistently profitable trading in your full-sized live account, you can officially add it to your trading toolbox.

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Now you can choose to master another strategy or go trade one of your strategies from a beach somewhere 😉

The keys are to stick with the process, work on one thing at a time and don’t skip steps.

But following this process will give you more practice, more confidence in your trading strategy and ultimately lead to consistently profitable trades.

How To Make Consistent Profit In Forex

Hi, I’m Hugh. I am an independent trader and researcher. The real benefit of trading that most people miss is that it is one of the most direct paths to deep personal growth.

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My goal is to help you master both the technical (strategy) and transpersonal (mindset) sides of trading so you can create more freedom in your life and become your truest expression of I AM. Trading defines my lifestyle and what makes my profitable forex strategy. Makes my luck. For this purpose, I invested many years of my life in my trade education. But this is nothing, indeed there is much more.

I never stop learning and trading is the profession that saved me from darkness. So, I have all the reasons in the world to never stop improving and earning decently.

I still remember when I was a freshman. A loss of 10-30 pips in profit gave me concerns. There was still a long way to go and I still knew nothing about trading. So, I studied persistently and determinedly until exhaustion.

I didn’t know what was the most profitable forex strategy that would actually work for me.

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But things change and with time and dedication I have built my future. Becoming a trading mentor for students was a direct result.

Like everyone else I started looking at the rudiments of business around what was available online for free. But of course, I realized that everything readily available was useful. This is because anything available to newbies only provides some details that are not relevant to making money properly. They are nothing. They don’t show where the money is and they don’t explain how to get some of that money.

My rewards are the result of many years of suffering, sacrifice and hard work. Every profit I make is a paycheck for all those years of dedication.

How To Make Consistent Profit In Forex

When I found my multimillionaire trading mentors, I realized that I had a solid chance of becoming a great trader.

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Money changes our mind. It is an important step. Stop focusing on ideas that have utility, but look for money. do

With practice and the right mindset our efforts will create value. Going forward, by repeating and repeating the right things we will realize that we have become consistently and consistently profitable.

I trade penny stocks, forex, futures, listed stocks and ETFs. Except for penny stocks I trade with a different approach, I am a supply and demand trader. But I am talking about my way of using supply and demand trading.

My supply and demand trading is a profitable forex strategy that definitely made my fortune. Consequently, I’m here to explain how, so why, it worked for me, maybe for you too.

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For most people, trading is very subjective. Everyone trades according to their choice. But only some of them are really profitable, consistently and consistently. Instead, most of them use to risk trading for a few pips of profit, taking a lot of risk. Maybe even without specifics

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