The Art of patience in Trading | Platinum Trading Academy - PowerPoint PPT Presentation

View by Category
About This Presentation
Title:

The Art of patience in Trading | Platinum Trading Academy

Description:

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. – PowerPoint PPT presentation

Number of Views:15

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: The Art of patience in Trading | Platinum Trading Academy


1
Forex trading
  • THE ART OF PATIENCE IN TRADING

2
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.

3
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.

4
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.

5
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.

6
Thank you.
About PowerShow.com