The Importance of the Principle of Consistency in Forex Trading- the god of wealth has a way

The Importance of the Principle of Consistency in Forex Trading

Only when wealth gathers can it be dispersed and wealth can be gathered

the god of wealth has a way

I once asked some good traders, what is the secret of success? They all talk about the consistency of transactions, but it is really not easy to do it in real life. By setting a process for your own trading, and then following these rules is the first step towards sustained and stable profitability. They exist to help traders turn good things into good habits.

Let's look at an example from my friend. Let's call her Ah Fang. She is a trader who has no specific rules. He makes orders completely driven by his own emotions, so it is difficult for her to make the right decision every time. Due to the lack of systematic guidance, she is annoyed that she always spends her time on what she should do instead of following the rules to do the right thing.

Having rules is important, but enforcing them is even more important because it fosters consistency among traders. Once you have the rules, you will automatically react to certain specific situations, and you will not waste time thinking about what to do, but focus on experiencing how to deal with the response. In order to stick to your rules, based on past experience, you should know what the price of breaking the rules should be.

For example, when you are doing range trading, because the stop loss point is too narrow, the price has been stopped in advance when it moves in the direction you expected. The next time you take a similar trade, you will feel the need to follow the stop loss rule to avoid a loss. Making rules is more effective because of the price you pay for violating them based on your own experience. What suits other people may not suit you, so making rules that fit your own style will lead to better performance.

Don't think that you are always the winner. You should formulate every conceivable problem for your trading. For example, position size, stop loss point, leverage multiple, possible unexpected situations, etc., but despite this, we will inevitably encounter some unexpected things. Therefore, please remember that the market is like human emotions, it is always changeable, and we cannot predict it.

The consistency of trading can effectively and quickly build your trading system and make correct decisions in times of uncertainty. Over time, these proven rules will definitely bring you a good feeling and continuous stability profit.

Last updated: 08/14/2023 16:18

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