Forex traders are into the trading business to make money, its that simple.
That said,
It is NOT unusual for traders to continually hunt for the next best trading system that would fetch them more money while growing in their trading career, hence, overlooking the most important and profitable trading system in the books.
Before we go any further, I want to ask you a salient question.
DO YOU WANT TO BECOME A CONSISTENT TRADER or A PROFITABLE TRADER?
Let me explain:
A profitable trader:
A profitable trader is one who is profitable at the end of a good trading week or month, but suffers huge losses in bad trading weeks or months. At the end of the year a profitable trader MAY find it difficult remaining profitable.
A consistent trader:
A consistent trader is one who is not just profitable at the end of the year, but manages to lose very little capital in trying months. In some cases, a consistent trader still ends up profitable at the end of a bad trading month.
That said, which of these two traders are you aspiring to become?
Well, if you are aspiring to become a CONSISTENT TRADER, I have a trading system for you.
Do you know what that is?…
Its called… S.Y.H trading system
Meaning: Sitting on Your Hands Trading System.
Have you heard about it before?
If you still don’t get the idea, it means…
STAYING OFF TRADING WHEN THE MARKET DOESN’T PRESENT TRADING OPPORTUNITIES
Very few traders apply this technique to their trading arsenal and those who do, experience exponential growth in both their trading account, trading skill, and not forgetting to add an impressive level of consistency.
Yeah, I know, I ain’t saying anything new… bla bla bla..
But, have you ever wondered, why after so many months/years of trading, you still keep on struggling with remaining consistently profitable in your trading career?
The answer is simple.
You are yet to incorporate the S.Y.H technique into your trading system
Let me tell you what you could be dealing with when you do not apply S.Y.H to you trading arsenal.
1. OVER TRADING:
Trading could be very demanding, if a trader want’s it to be so.
Most traders come into trading believing that their activity in the market, is equal to profitability.
A few lucky months indulged in over trading, and a bad habit is established without the trader knowing it. This further makes it more difficult to break out from over trading, since most traders are either not aware of it or believe it’s their trading system that has a problem during losing weeks/months.
Sooner than later, over trading becomes more of an addiction, exciting the trader just like a drug junkie hooked on his next fix.
Such traders are fixated on their charts, all day every day. it becomes so bad that they are unaware they are locked within a psychological loop of making money and giving it all away with a little extra in most cases.
Each month they tell themselves:
“This time, I will end up profitable in the market“.
But their activity in multiple trading chat groups, wears them thin. These traders chase the market, instead of waiting for the market to present them with trading opportunities.
They have no spare time to take a breather or pick up other hobbies. They gradually lose focus of what quality trades even mean.
2. FATIGUE:
When you are helplessly glued to trading just the way a video game junkie is glued to playing games 24/7, you become fatigued both mentally and physically.
During the day, these traders jump from one trade to another. They spend countless hours baby sitting trades or asking those who called the trade in several chat groups for exit or entry points to new trades.
At night, these same traders can’t sleep, for fear of either losing out on a seemingly viable setup or monitoring a bad trade from hitting their stop loss or vice versa.
Such traders are almost always fatigued. They hardly have enough time to sleep and it doesn’t take long before the law of diminishing returns begin to set in on their trading gig.
Each trade becomes their next fix. If they are not in front of the charts, they feel there is something missing.
Addiction to trading ruins their sleep and success in most cases continue to elude them.
3. IRRITABLE:
A combination of fatigue and a string of losing weeks/months could keep any trader perpetually seethed.
One thing most traders take for granted is what a deficit in their emotional bank account could cost them.
For most traders, it becomes almost inevitable that great relationships around them, may begin to suffer.
The stress of constantly trading and getting very little or no financial reward tends to peal off layers of a trader’s emotional skin, to a point where you can hardly tolerate other people around you.
I don’t think anybody who is wishing to become a trader should embrace such a roller coaster of emotions.
Trading should not be emotionally draining to a point where depression starts setting in
Remedy:
Let’s take ourselves back to the reasons why we jumped into learning how to trade… Apart from the MONEY ASPECT!!!
You will find out that the reason for most of us was FREEDOM.
The ability to live a FULL and MEANINGFUL LIFE…
Meaning…, we do not have to work every single day OF YOUR LIFE, like our regular 7 to 5 job.
The problem with most traders is:
We subconsciously try to replicate the culture of a regular 7 to 5 job into our trading career. This is not healthy and in most cases, it is the major reason why more than 70% of traders struggle to remain consistently profitable.
In Conclusion.
Trading is a long term endeavor, it is always advisable to imbibe a style of trading that supports adequate rest in order to perform optimally whenever your best trading setups present themselves, and also be able to enjoy your life as you continually grow as a trader.
What do you think?,
Do you also find yourself struggling with staying off the charts?
