Most of your time trading is waiting for a correct setup to occur. There
always will be money left on the table. You will never catch 100% of a move.
Once you realize that, you’ll be miles ahead. You are waiting for those
The Better The Trade Setup The Better Chance At Winning The trade!
The better the setup, the greater chance of a winning trade.
If you are not winning between 70% and 80% of your trades trading Forex.
Then you need to step back and start waiting for better setups.
The greater amount of indicators that agree with your potential trade. The
higher the chances of you have of winning a trade. Remember, you are
mainly paid to wait.
The More Patients You Have – More Money You Will Make!
The better you are at waiting for the perfect setups. The more money you
will make. But you also must understand that after all that waiting for
the ideal trade setup to occur. You have to be even more patient than ever
once you get into the trade.
If you’re scalping the Forex market for a quick 10 pips. Sometimes it can
happen in just a few minutes. But other times it can take 15 to 30 minutes for
that trade to develop. And trust me, that can seem like hours has past by. So
if you are day trading it can take even longer for a trade to turn into a BIG
It can take hours upon hours to fully bloom into a nice win. And that
will seem like a whole lifetime flew by! So patience is such a critical
factor in all aspects of trading Forex that without patience you’re more than likely
to get out of trades that in other words would have turned into a profitable
trade for you.
You have to try your best to put your impulsiveness aside and put your
discipline in full force as discipline is the key element to becoming a successful Forex trader.