Consistency: Key to Successful Trading

 One thing you need to be successful - is consistency. Unless you can make money on the majority of days, regardless of the market conditions, you will struggle to achieve success. And in order to do that, you need a rigorous approach or methodology which can deliver consistent profits. It doesn’t necessarily have to be systematic - there are still plenty of successful discretionary traders, but it has to be an approach that is proven to work and that you can apply over and over again without fear or favour.

One big mistake most beginner traders make is they want to shoot for “home run” trades all the time. But the longer you are in a trade, the more market risk you are carrying and the poorer your win rate will be. It’s also well known that the market “noise” is much greater at the intraday timeframe, so trends can evaporate very quickly. A far better approach is to just attempt to take a handful or a dozen or so points out of the market every day. If you can do that consistently over a long period of time, you can leverage up and the money will come easily.

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