For those new to Forex trading or even seasoned traders, the question “Why do some people make consistent profits while I face frequent losses?” is bound to arise. The secret lies in understanding that successful traders also experience losses but accept them as part of the journey. The crucial difference is that during losing periods, they maintain discipline, refuse to accept under-performance, and continuously train themselves to improve.

The good news? You too can become a successful Forex trader who consistently makes profits. No one is born a trader, and mastering Forex trading is not rocket science. The traits and characteristics of a successful trader can be learned.

Many of my profitable students have no formal training in finance, yet they trade successfully and make consistent profits.

Profitable Forex trading is certainly within your reach, regardless of where you currently stand in your learning journey. However, it requires dedication and likely a few adjustments to your current approach.

Maintaining Commitment, Even During Challenging Periods

Forex trading is not always fun, and your learning curve will include tough times and hurdles. A successful trader must always be ready to face challenges head-on.

Your goal and the pursuit of it should excite you, and any losses should not deter you from actively working towards that goal.

Ask yourself: If you weren’t paid to trade, would you still love the process and enjoy the challenge? If so, you’re maintaining the necessary commitment to succeed in Forex trading.

Get Comfortable With Losses and Losing Periods

Believe it or not, my inbox is always full with requests for a trading system that has a high win rate.

However, a high winning rate alone does not guarantee profitability. Unsuccessful traders often seek a high win rate as a form of compensation, driven by a lack of confidence and an unrealistic expectation for certainty in the market.

Focusing obsessively on a high winning percentage is short-sighted. Instead, direct your focus on continuous improvement in the process, and you’ll see the bigger picture.

 

 

Intentions Must Be Consistent profits With Actions & Beliefs

If your goals and efforts aren’t yielding the desired results, there’s no one to blame but yourself. This suggests a disconnect between your intentions, actions, and beliefs.

It’s one thing to say, “I want to be a successful and consistent Forex trader.” But if you hesitate to fill in your trading journal, there’s inconsistency between your conscious and unconscious mind.

It’s like someone wanting to be wealthy but feeling poor when looking around their belongings. This mindset won’t help in creating wealth, leading to inevitable failure.

This is called “thinking in one way, and feeling another.” Only when your thoughts and feelings align will you produce results that match your intentions.

Avoid Under-performance in Trading

What’s one sure-fire way to promote under-performance? Excuses. If you’ve ever made excuses for your trading results, you’re more likely to underperform.

The best way to avoid under-performance in Forex trading is to eliminate excuses. Embrace a “no-excuses” approach and remind yourself, “I am responsible.” While you can’t control everything in the market, you are responsible for your performance.

Finally, reflect on these strategies and ask yourself if they can help shift your mindset and approach towards becoming a successful Forex trader. Learn how to become a successful Forex trader by adopting these key strategies.

Take this quiz to test your forex trading knowledge and determine whether you are ready to open a live trading account, and begin trading forex today. click here