One of the biggest challenges for forex traders is how to be consistently profitable. After all, what's the point of going into currency trading if not to make money? Unfortunately, for most traders this goal remains elusive. Nevertheless, these simple techniques can change things.

One of the biggest challenges for forex traders is how to be consistently profitable. After all, what's the point of going into currency trading if not to make money? Unfortunately, for most traders, this goal remains elusive, to the point where a lot of them are asking if it is possible at all to make regular profits. But of course, it is, and any trader can be consistently profitable by currency trading if they follow these simple techniques:

If you want to be consistently profitable, don’t focus on being profitable. Although this may sound paradoxical and contradictory, in fact the basic principle behind this idea is sound. Traders who focus only on profits are never profitable because they behave impulsively. They take the short-term view and, because of this, they start to become desperate when they are not profitable at once.

Instead of thinking about profits, focus instead on improving your trading techniques. The better of a trader you become, the more profitable you will be over the long-term.

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Never trade for the sake of trading. One of the biggest mistakes that beginner traders make is to over-trade, meaning that they feel they have to trade every day as if trading was a day job. But the more experienced and wiser traders know that it is not how much you trade but how effectively you trade. One winning trade beats ten trades in which you lose or break even.

Instead, create a good trading plan in which you formulate guidelines for when to trade as well as rules for entering and exiting a position. In addition, you also need to develop the self-discipline to stick to your system and not behave emotionally when things don’t go the way you planned.

Learning to take the long view. It is very important for traders to remember that they will not be profitable all the time. There are times when they may encounter a series of losing trades. What is important is how profitable they are in the long-term.

Instead of panicking when you have losing trades, instead focus on learning from your mistakes and accepting that losing is inevitable. What is important is being able to identify winning trades that will make you enough profit to make up for your losses.

Being organized. The worst traders are those who treat forex trading as if it were gambling. When they trade they use their instincts to determine when to enter and exit a position.

Instead, create a trading plan that defines the "rules" that determine when you will trade as well as when to enter and exit a trade.