The Art of patience in Trading | Platinum Trading Academy

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Forex trading

• THE ART OF PATIENCE IN TRADING

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THE ART OF PATIENCE IN TRADING

• One of the biggest misconceptions that you can
  have about forex trading is that you can quickly
  start making a living from it in a relatively
  short period of time. Patience in forex trading
  eventually pays off as it allows you to sit back
  a bit and wait for the right trading setup. If
  there is one thing that ensures a high
  probability of winning, it is having the patience
  to grasp all the necessary information before you
  trade. Understanding how important patience is
  while you start learning to trade will completely
  change the trajectory of your performance in the
  long run and help you achieve your goals faster.

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What skills do you need to become consistent in
trading?

• Research The ability to do quality research and
  solid market analysis is fundamental to trading
  success. Master traders develop their skills in
  being able to thoroughly research all information
  relevant to the securities they trade and then,
  more importantly, being able to accurately
  determine the likely impact of that information
  on a particular market.
• Analysis Analytical skills are vital because
  they enable a trader to better understand,
  identify, and use trends (or the lack thereof)
  both as applied to price action on individual
  charts of various time frames, and in the market
  as a whole.

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What skills do you need to become consistent in
trading?

• Adapting Your Market Analysis to Changing Market
  Conditions Its important that you have your own
  individual trading style and trading edge, such
  as specific combinations of technical indicators
  that signal high probability trades. If the
  market is changing or forming a new pattern,
  thereby signaling to you that you need to adapt
  to those changing conditions by adjusting your
  trading strategy accordingly.
• Staying in the Game A master trader understands
  that neither extreme will last forever, and, that
  sticking it out through the good and the bad
  is a skill that enables you to learn, grow, and
  profit.

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What skills do you need to become consistent in
trading?

• Discipline Patience Staying in the game is
  important because it allows you to experience
  both the highs and the lows, learning from them
  and making the necessary adjustments to your
  trading. A master trader must be both patient and
  disciplined in order to stick with it, especially
  on days when profit is non-existent.
• Record Keeping Master traders learn from their
  trading mistakes. One of the critical habits that
  creates winning traders is that of keeping a
  trading journal and regularly reading back
  through it provides one of the quickest and
  easiest ways to identify both what youre doing
  right and what youre doing wrong.

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Thank you.