Are you consistent?

I hear a lot of traders, especially new traders, always talking about how much they want to earn. I rarely hear someone mention consistent returns. Those who are serious about trading need to shift their focus on consistent returns as every successful trader know that it is not about how much you earn, it is about how much you keep on a consistent base.

I rather make a smaller amount, but do so with consistency and every month. Trading is not about getting one or two trades right and make a big return, it is about consistent returns over the long-term. Give it a thought before you try to hit a home run next time.

Completely agree. I’d also mention here the R:R ratio which is IMHO The Holy grail on forex.

[QUOTE=Rambo35; 524256] I hear a lot of traders, especially new traders, always talking about how much they want to earn. I rarely hear someone mention consistent returns. Those who are serious about trading need to shift their focus on consistent returns as every successful trader know that it is not about how much you earn, it is about how much you keep on a consistent base.

I rather make a smaller amount, but do so with consistency and every month. Trading is not about getting one or two trades right and make a big return, it is about consistent returns over the long-term. Give it a thought before you try to hit a home run next time. [/QUOTE]

I would be already happy once I will achieve 200£ per month and I will try to build up some solid income from there.

5-20% per months depending from the capital.

I am sure if you can find good tight entries and catch the big profits you can even reach 30-45% without risking too much but you need to keep your stops very small, don’t move them and be good selecting entries. But this is not as simple as it sound.

I would say in the long run I will go for 5-15% per month.

At the moment I am trying to understand how many pips I can bank on average per month and then I will try to make a 10% out of it risking as low as possible.

Yeah, most of the new traders tend to think of trading in terms of $ rather than pips and how much they can make on a single trade rather than performing consistently. A consistent performance will go a long way…I guess we can chalk this up to the “sparkle n’ stars” syndrome…

i have to agree with you. i have been making decent profits in the 1st 6 months but after i became greedy and blew them off for the past 2 months. now in negative zone…:o

I agree with most of what’s said except the part about R:R. There are some trading strategies out there that have a lower than 1:1 return but are profitable. This mostly relates to scalp trading though. These systems have extremely high win percentages but low R:R ratios.

If you’re swing trading, I think going with larger R:R ratios is better though.

I agree! I myself have to work on my consistency rather than getting that “one good trade” every 3 months or so which would erase my losses.