Consistency – A Potent Tool for Forex Trading Success

Human beings usually develop an opinion about things based on their perceptions. Speaking of perceptions, people sometimes do develop certain weird ones. For example we tend to think that if we cannot understand a particular task then it must be difficult to do.

We have this inherent nature to label everything that we do not understand / comprehend as tough, difficult and complex. That is okay because after all it’s just human nature, and most of us tend to indulge in this sort of thinking, but the trouble is when we start to believe that it has to be the final truth.

Are Certain Jobs Really Complex?

This sort of thinking is exactly why we tend to look at space scientists or astronomers or soldiers with so much awe all the while thinking in the back of our minds how tough the things that they do are. I am not saying that their jobs are child’s play, but what I want to emphasize is that these jobs look difficult or complicated to us because we are not trained to do them.

A mailman’s job is to deliver letters to the right addresses and is as easy as pie to him. But someone who is not trained to do this job may think that it is really tough to keep track of all the addresses. Initially the mailman also may have found this a bit difficult to do because he lacked experience. Over the years as he gains experience by repeatedly engaging in this job and keep doing it consistently, it is now second nature to him.

Or let us consider a brain surgeon. He / she is looked upon with extreme admiration and it is generally considered that their job calls for extraordinary skills. And to add to the ongoing myth, there are actually fewer brain surgeons around when compared to general physicians. But the truth of the matter is that they are consistently practicing what they learnt in medical school and therefore are achieving results.

Forex trading is also quite similar to all these examples cited above. To the outsider or the newbie trader it does look quite complicated and a hard nut to crack, but remember that he / she is good at forex trading now ONLY because of the consistent efforts that they put into it and thereby gaining experience over the years.

Consistency Brings Results

If you are like me then you might have read a number of self-help books. On close scrutiny you find that most of them harp on forming positive or result producing habits. Well, the key behind every successful habit, is of course consistency. Unless you are consistent and can rigidly stick to a certain habit, you cannot gain results out of it, no matter how much your life coach vouches for its effectiveness.

So the core point here is that you can bring in effective results by forming positive or result oriented habits and more importantly, by sticking to them with a consistent determination.

Regularly educating and training yourself makes you well-informed and it is common knowledge that a well-informed person usually makes more money and is therefore more prosperous than the person who does not bother to do any of those.

If you unswervingly handle your trading risk suitably while engaging in active trades and you have the disciplined rigidity to follow your trading strategy and avoid any sort of over-trading, you are going to cultivate some very constructive and potent trading habits the consequence of which is that you achieve a profound success in forex trading. In short, there is huge power in consistency. Train yourself to be stable and unfailing and you are already on the path to success in whatever you choose to do.

Consistency in Forex Trading

Okay by now you have got my point and are already beginning to realize the importance of consistency, but you probably are confused as to how to use this potent habit and translate it into monetary gains and financial success in forex trading.

That’s easy; let me explain in detail.

If you have decided to use this potent tool in forex trading then you must understand that there are different spheres or areas in forex trading where you need to use it. Let me make myself clearer.

You must apply consistency in 3 different areas of forex trading as follows:

  1. Consistency in sticking to your forex trading strategy.
  2. Consistency in rigidly following your risk management plan.
  3. Consistency in recording every move and every strategy and every trade that you engage in, within a forex trading journal.

If you can successfully get these 3 things done, then you can actually congratulate yourselves because your forex trading success is imminent. Yes, you heard it right. You can take it as a guarantee to achieving success in your forex trading and that sure is great news, isn’t it?