Forex Trading: A Marathon, Not a Sprint

Filed under: Learn Forex Trading |

If you are serious about one day making a living from forex trading, then it is imperative that you have a long-term mentality. Forex trading is a marathon, not a sprint – and those of you who do not have the stamina for it will fall by the wayside. Traders can tread water for months before that spurt of good trades comes along which grows their trading bank. In a year, depending on your trading style and method, it is quite conceivable that you might have eight break-even months, two months where you make a slight loss, and then two months where you make massive gains. However, if you give up before you get to one of these bumper months, then you will never know how well you could have done in the long term.

 

It is a profession of attrition at times and you have to stick in there and keep looking at the charts for any setups. Sometimes, there is not a whole lot of action, and you just have to keep going through the process. A lot of people might see this as being too dull and quickly lose interest. If you are a gambler looking for excitement, then you will find this rather quickly. Trading forex is more like a habit, something that you do over and over until you find what you are looking for.

 

Is it important that you settle into a routine where you look at your charts at the same times every day. By making such a settled routine, you have a much better chance of catching those high probability setups. In the short term, anything can happen. It is only those with a long term trading mentality that have a chance of making it as a forex trader. So think of it as a marathon, not a sprint. Trading forex requires a long-term mentality; so settle down, get comfortable, and enjoy the ride.

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