Forex Trading Strategies- Patience

[Arceliar01]

Although good Forex Trading Strategies can be a starting point in one's efforts to turn a profit in the market, there is something even more necessary. The most important thing one needs in combination with a good strategy is patience. Problems arise when a trader has a good plan and then changes course when things are on a downward slope. Often one must ride out a loss to make a greater profit. The patience to see good Forex Trading Strategies through to fruition is key.

[fxPRtrader]

Originally Posted by Arceliar01

Although good Forex Trading Strategies can be a starting point in one's efforts to turn a profit in the market, there is something even more necessary. The most important thing one needs in combination with a good strategy is patience. Problems arise when a trader has a good plan and then changes course when things are on a downward slope. Often one must ride out a loss to make a greater profit. The patience to see good Forex Trading Strategies through to fruition is key.

I agree, here is a cool article

[fxaffiliatez0]

You can say forex trading systems may be best for beginner traders . but not for seniors . another way no one can avoid their strategies because if we are using trading system most probable will get profit . these are helpfull

[GracefulPips]

Arceliar01,

You are quite right about the importance of the patience, but I would like to add that also an ability to follow your own trading plan is even more important:
when you develop a trading strategy and start trading live. you should stick to your plan. In this case your trading can be successful.

[TheGamer]

I agree with the above replies including Arceliar01 as i've learned many things in these past few days.

1) Strategy is important & we shouldn't break it until we see trend change.
2) Never play this game if you're physically unfit. (avoid until you feel fully refreshed)
3) Oops:eek: Forgot:o be back later friends :p

Happy Forex-ing :D

yup now i remember...
3) No entry is in loss if we play with some patience & backup. (90%)

[TLambarde]

AGREED!
I would suggest you learn the forex world: both by experimenting and doing your research. There are a lot of great resources for learning forex basics, particularly introductory slideshows on Slideshare. Once you have the basic understanding you can learn strategies at sites such as such Everestforex (great site, very friendly, gives you $100 real money to start with). The Learn-Forex-Blog is an additional great resource!

[sunny1234]

Very true.

1) Not only a strong strategy , but also a storing state of mind is required which will help you stick with ur trading plan.
2) One must not look/listen to others' strategy but only have an overview over the imp. fundamental news !
3) Market tends to move up & down. Your strategy should remain firm unless you reach the desired level of transaction (buy/sell)
4) Greed & fear will be faced by almost 99% of beginner traders. You can be the rest 1% have control over your psychology & u'll automatically have control over your trading!

[Craigfx]

Hi everyone, so true. For me patience = long term trading=good results !
Long term trading for me is the best way of trading, making a good technical analysis wight give you a very successful strategy, and at the end you will end up earning and closing profitable positions.. but for that you need patience.. so my advice for newbies is.. don't loose it ! and keep it cool ! at the end you will see good results !

[Megha]

Originally Posted by Arceliar01

Although good Forex Trading Strategies can be a starting point in one's efforts to turn a profit in the market, there is something even more necessary. The most important thing one needs in combination with a good strategy is patience. Problems arise when a trader has a good plan and then changes course when things are on a downward slope. Often one must ride out a loss to make a greater profit. The patience to see good Forex Trading Strategies through to fruition is key.

Your Strategies will help for newbies. Its all about Profit and lose.

[Peter4]

Is there are any tool to estimate my patience during trading? :)

[binarypartners]

Hi,

I always believe that the traders always remember that the forex market comprises several exchanges; hence, always keeps this in your mind before creating a forex trading system routine as, here there are lots of differences between the forex market and other markets. Also, if you are new to the forex market and has been trading only in the stock market, you may not be wishing to get caught through any mistakes.

[guesser]

patience to wait for a good trade..

[Marioth]

If someone uses a technique like trend following, patience is crucial. I'm used to negotiate stocks this way, but I wonder if it really works in Forex. :o

[PapiaKhatunAsha]

In Forex patience is the key to success but yes the first trader has to choose a reliable broker like FreshForex then if they have good patience in trading then success will come automatically.

[BubbleGum]

In trading, timing is everything. Winning traders are patient. They know how to control their impulses in order to act decisively when the time is right. Rather than a whim, they crafted detailed trading plans with precise entry and exit strategies specified and followed closely.