For someone new to the Forex market, and for someone who has been in this business for a while, the thought “Why do some people make continuous money when I still lose?”You’re sure to strike back and forth. The secret is,’ they lose too, but accept it in the right spirit and know that it’s part of the game.’ The important thing is they never acknowledge underperformance while retaining composure in the periods of defeat and continually prepare themselves to play well.
The good news is–you can be a successful trader making good profits as well. No one is a born trader and it’s certainly not rocket science to learn the trade. A strong trader’s qualities and attributes can definitely be identified.
Many of my successful students are not educated in any relevant financial field, but they trade well and consistently make money.
In spite of your current position in the learning curve, profitable trading is certainly possible for you. But you’ve got to work on it and potentially make some adjustments from what you’re doing already.
Here are 4 ways to improve your trading
Maintaining Commitment, Even During Challenging Periods
Trading is not enjoyable and you have to face tough times and challenges in your period of training. A good trader should be prepared to face the challenges at all times. The objective and work towards it should not deter you from actively working towards the goal and the losses occurred.
Would you still love it and enjoy the challenge if you weren’t paid to trade? If so, make sure to keep the dedication you need to succeed.
Get Comfortable With Losses and Losing Periods
You must believe that my inbox is always full and has been filled for a year to its capacity. It’s because of the system’s constant request for a high winning rate.
The winning rate on its own does not guarantee profitability. The controversial thing to note here is’ really asking for compensation are the unsuccessful traders who opt for high win rate.
The lack of trust and the fact that nothing is stable in exchange causes them to go for a solid thing and expect compensation.
It is short-sighted to obsess with a high winning percentage. Directing your focus to continually improve (i.e. on the process) is seeing the trees from the forest.
Intentions Must Be Consistent With Actions & Beliefs
If the desired result was not achieved by your target and working towards the goal, then the person to blame is no more than yourself. It shows that your intentions are directly contrary to your actions and beliefs.
Saying or saying,’ I want to be a good & trustworthy trader’ is one thing. But if the moment comes to fill in your business journal and you balk, then your conscious and unconscious mind is contradictory.
It’s like’ someone wants to be wealthy and look around and feel poor.’ This attitude is not going to help make wealth, and he is likely to fail.
This is called’ thinking and feeling different in one way.’ You only produce results that match your intentions when these two things (thinking and feeling) come together.
Avoid Under-performance in Trading
What is one thing that encourages under-performance without failure? Excuses. Have you ever used reasons for trading results? If so, for under-performance, you’re making it more likely.
To get rid of the reasons is the best way to avoid under-performance in trading. Adopt a trading’ no-excuses ‘ approach. Chanting and following the mantra “I am responsible” is better. You may not be in control of everything that happens on the market, but you are responsible for your performance.
Finally, analyze the suggestions above and ask yourself that if the suggestions help you and if they are adopted, they will help you change your thinking and approach to trade.