Previous: Sarah Shaw — Get Celebrity Confidential. Next: Sasha Evdakov — Stock Trading Foundation Trading Basics. Bro did they give you access???????????? Leave a Reply Cancel reply Your email address will not be published. Loading Comments Email Required Name Required Website. We all know that certain trades are much easier to execute compared to others. As such, you have to be almost religious in your adherence to following your trading plan and executing on all your trade setups, even the ones you find difficult to pull the trigger on.

This is certainly true as it relates to trading in the financial markets. If you do not take the time to post the details of each and every one of your trades, along with your thought process during the trade, you will not have the benefit of being able to improve your results over time.

By studying all the data around your trades, and your state of mind during the execution process, you can help isolate those problem areas that you need to work on and refine. At the same time you will begin to understand where your strengths are in the trading process and how you might enhance those qualities as well.

Creating a trading journal does not have to be a complicated task. Sure there are trading journal software programs out there that you can utilize to get more in-depth metrics, however, you do not necessarily need to start with these advanced tools. You can simply jot down your trade details and thought process on a piece of paper or Word document, and work from that. Eventually you will want to become more organized in your trade journaling task, but, more importantly than anything else you have to believe in it and get started doing it right away.

One of the best things that you can do for achieving trading consistency is to build a daily routine that becomes second nature to you. There is something inherently valuable in repeating positive habits on a daily basis. And this is not just a matter of opinion, it is a well-documented fact that has been suggested by many psychologists and behavioral researchers.

The mere act of performing a task on a regular basis can have a positive effect on our mental state of mind. Once we build a daily routine around our trading, we become more comfortable in the overall process, and as such it puts us in a more relaxed state of mind, which will inevitably enhance our decision-making processes in the market. An example of a daily routine could involve the following — Get up at 7 am in the morning.

Complete a 15 minute meditation session between and Get to my trading station by Check the overnight market activity and plot all relevant support and resistance levels by Watch the New York Stock Exchange market open at Scan all stocks within my watchlist at 10 am and determine those that display the highest bullish momentum.

Between 10 am and 11 am, look for a potential pullback to enter into one or several of these trades. To achieve profits in the market, you must have a consistent trading strategy. Now, a consistent trading method does not mean that every trade will be a winner. This is something that seems a bit confusing for some novice traders.

These traders often believe that the only way to make money in the markets is by having a high win rate strategy. One that results in more winning trades than losing trades. But these traders fail to realize that win rate is just one aspect of the profitability equation. The other component which is often overlooked is the reward to risk profile. More specifically, the higher the reward to risk on a trade, the lower your win rate can be to achieve profitability. And vice versa the lower the reward to risk on a trade , the higher your win rate must be.

This is an important distinction, and one, that all traders should be aware of. Depending on your own psychological makeup, you may prefer a trading strategy that offers a higher win rate, but lower average win to average loss ratio. On the other hand, you might be drawn to a strategy that offers a lower win rate, but has a higher average win to average loss ratio.

You must decide which characteristic is more attractive to you and implement it accordingly within your trading program. What we can control is how we react to market events, and how much risk we allocate on any given trade.

And so, even with a trading strategy that has a substantial edge, we can still suffer from Black Swan related events that can permanently damage our trading account. As such, as a trader we must come to realize that our primary role in the market is that of a risk manager. Unfortunately, most traders are too focused on making profits in the market to ever take seriously the topic of risk management. Please how do i start to analyze myself and be profitable. If you are new to trading, you can check our Academy.

This may help you in your trading journey. Here is the link:. I think I am at stage 3…. Both point to one thing…backtesting backtesting and more backtesting. Thanks for the article. Stage 3: The lone ranger.

I have been enrolled in trading for almost one year. Currently backtesting my trading strategy everyday to find an edge in the market. Rayner, What computing power do you use to back test? My laptop is running for about 50 hours to back test one strategy. I am stuck in backtesting for stage3!! I blown account than I càn count. Now fear comes in. Even though I have a good price action strategy, I am afraid to press that enter button.

Where do you suppose I belong reyna. Thank you for the explanation and motivation composition you did Rayner. firstly thanks Very much for the Detailed answer to the obvious questions in the game. Once you get a consistently positive result, you can hop on a live account. I win a lot, I loose a lot, and the circle continues.

Already lost half. Forex is currently my last hope for financial freedom. Thank u for ur useful article. Stage 2, seriously i got to this stage by watching only your videos on YouTube and following most of the things you teach. Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.

How Long Does It Take to Become a Consistently Profitable Trader? Some would tell you it takes 5 years. And there are a few who still suck at it after 10 years. You have hopes for: A better future Getting out of poverty Getting out of the rat race Trading full-time and saying FU to your boss Becoming the next champion trader Paul Tudor Jones? Pfff, get in line… So, you study everything that you can get your hands on like RSI, MACD, Fibonacci, Price Action, Chart Patterns, Candlesticks, ADX, Trendlines, etc.

So, you move onto stage 3… Stage 3: The lone ranger At this stage, you stop thinking about simple questions like how long does it take to become a profitable forex trader or how long does it take to become profitable trader. So, what exactly is an edge? This is something you do repeatedly over time that yields a positive result. Heck yeah! Because you have an edge in the coin toss as your winners are greater than losers.

More on that later… Stage 4: The business owner The final stage is where you become a business owner. It takes time and money to grow your business. For example… Amazon has income from its e-commerce platform, a yearly membership subscription Amazon prime , offers cloud computing Amazon Web Services , etc.

Feel me? So now the question is, how do you quickly move onto the next stage? How to get out of stage 2 risk guru Getting out of stage 2 is all about understanding math. This could be money from your job, businesses, etc. For example: Adopt an uncorrelated strategy to your portfolio so you can smooth out your returns over time. Discover a new trading strategy that lets you profit in both bull and bear market conditions.

Tweak your existing strategies to make it even better If you need ideas for new trading strategies and techniques, then check out the list of my recommended trading books. Need some ideas?

Brokers — ICMarkets, Blueberry markets, etc. Platforms — TradingView, CQG, Trading Technologies, etc. Tools — TraderVue, Forex Tester, etc. The possibilities are endless. For example: Marty Schwartz, a market wizard, relied on fundamental analysis and lost money for 9 years.

What do think—how long does it take to become a profitable trader? Leave a comment below and share your thoughts with me. Share 0. Tweet 0. Rated 5 out of 5.

Very good for beginners and helpful🙏. Great information. Your review. Your overall rating Select a Rating 5 Stars 4 Stars 3 Stars 2 Stars 1 Star.

Title of your review. Your name. Your email. This review is based on my own experience and is my genuine opinion. Submit your review. Stage 2:Risk Guru..

Alex you need to start all over again. Most interesting part is you Know your problem. We give a soft copy as a bonus when you get the hardcopy. I just finished stage three, I am now at stage four, where capital is what I am tryining to gather to grow my trading account, Thanks Much for the education Teo.

Am almost getting in to stage four just a few things to get out of stage 3. If you have a high frequency of trades, then go with a low-cost broker. What a great and important article to read. a million thanks! Stage three working on strategies that will make consistent profits.

Rayner You teaching a good stuff am a newbie in trading but everytime learning a new thing from you. I think stage 3 as suffered death by a thousand cuts. now in the process of finding the edge.

Powerful stuff. Defs stage 3 — 4 I needed to read that. Thank you. Covid hit me hard financially and I needed to up my hussle plus I have a wedding to pay for. Rayner Keep up the good work! Hi Valerie, Thanks for sharing your experience! Valerie please can I get the book from you?

please I can afford it. Tochukwu please can I get the book from you? Hey Rayner, Great article!! In between Stage 2 and Stage 3. Pulkit please can I get the book from you? Maybe some bug? Admins, please re-check. Hi Vitaly, Thanks for watching out for a brother. It a community here. My attitude towards trading has been transformed…. Thank you sir. Hi Mayowa, Start with the trading academy. Very scared,. Hi David, Check out this post.

Hi Steve, Check out this post. I am at the first stage. Very useful guidance. Thanks Rynar. I can say I am at Stage 2-Risk Guru. Hi Che, Always take profit before a weighted area of value. You can trail your stop loss too. Check out this post. Hi Faruo! Hello, Vasco! I am on stage 3 and still loser. How can i level up my account?

Hi, Precious Bubah! Thank you for sharing! Keep it up! Thank you for sharing, Indresh! If you want to learn how to do it systematically, then check this out! Hey, Oguntayo! Just keep it up! Thank you for sharing, Lavi! Just keep in mind that trading is a get-rich-slow scheme. It takes years to master it!

The ultimate goal of traders is to get to a point where they become consistently profitable in the market. This however, does not happen overnight. In fact, it takes some traders many years to get to this level, and unfortunately, some traders never realize it at all. So what are the traits that lead to consistency in the market?

Well, there are some common threads among successful traders that are worth studying. Below you will find a list of key concepts that can help you achieve consistency in your trading. The very first element to achieving consistency in trading is to learn a proven trading methodology and stick with it. There are many different types of market analysis techniques that you can learn about. Some of these will be based on technical analysis, while others may be based on fundamental analysis, statistical analysis, or sentiment-based analysis.

In the beginning you will have to gain exposure to as many different market techniques as possible, so that you can understand which trading style best suits your skill set and personal temperament. This includes reading all relevant books from authorities within this specialty, taking advanced level courses, and engaging in coaching sessions as needed. The point being, that whatever trading strategy that you choose to adopt, you must eventually have the goal of becoming a master in that trading technique.

Now, one of the biggest problems that traders have is lack of patience. And this lack of patience is often seen in the inability for many aspiring traders to stick with a trading method for any reasonable length of time. That is to say that at the very first sign of trouble i. equity drawdown , these traders will look to bail on the strategy and begin the search for another method altogether. This typically ends up being a futile search that leads to nowhere. The fact of the matter is every trading strategy or system will have its ups and downs.

The sooner you realize this as a trader, the closer you will be to becoming a consistent trader. It goes without saying that you should focus on taking only the best set ups that the market provides. This is, however, easier said than done. Many times, our desire to constantly be engaged in the market leads us to make subpar trades. The misconception being that a trader must trade frequently, and always have a position on in order to make healthy profits in the market.

This could not be further from the truth. Most traders know from experience which setups serve them best in terms of providing the best risk reward profile.

So, isolating that part of it is not that difficult for many traders who have been around the markets for at least some length of time. The trouble comes when you have been sitting idly for some time due to a lack of market opportunities.

And so, we need to reign in those urges that force us to take these types of lower probability trade setups. When you begin to internalize the concept that trade selection is much more important than trade frequency, you will be on your way to focusing on those consistently winning setups within your trading arsenal. To get on the path to realizing consistency in Forex trading or any other market for that matter, you must start with a well-defined trading plan. A trading plan should detail every aspect of your trading business.

This includes items such as your trade set ups, including entry, exit and trade management processes. It should also outline which markets that you will trade, along with the preferred time frames, and position sizing parameters.

In addition to this, a well written trading plan should include what your primary goals are for trading, including your short-term and long-term trading goals. There are many details that need to go into a trading plan. It should serve as your guidepost for your overall trading business. Doing so will go a long ways towards becoming a more consistently profitable trader.

This is because planning and executing your plan will help you to avoid trading from the hip. Instead you will have a set of clearly defined rules to follow that have been planned ahead of time. A trade execution checklist goes hand-in-hand with a properly prepared trading plan.

Think of a trading plan as the big picture view as it relates to your trading business, and think of a trade execution checklist as providing a more granular process for executing on certain details within your trading plan.

A trading checklist should be kept as simple as possible in order to avoid paralysis analysis. Essentially, a trading checklist should detail each step that you need to take prior to executing on a trade set up. This is extremely important because, although, we like to think that we know exactly what needs to be done prior to entering into a trade, many times oversights can and do occur. A simple example of this can be illustrated as follows — Upon identifying my bullish trade setup, I will 1 check the longer term support and resistance levels, 2 I will confirm that prices are trading above the 50 period moving average line, 3 make sure that there are no scheduled news announcements that would impact the trade, 4 I will check to ensure that I do not have any open positions that are positively correlated with this new trade.

So you see, a trade checklist can help keep your thought process in check, and help you to become more efficient in your entire execution process, leading to better trade consistency. Once you have a trading plan and trade execution checklist in place, then the real hard work actually begins. That is to say, you must learn to execute the trades based on your outlined rules with as little hesitancy and emotion as possible. This is because if you begin to cherry pick the trades that you will take and those that you will bypass, you will inevitably miss out on some potential winners.

More importantly, by haphazardly taking only a percentage of those set ups that were required based on your trading rules and trading plan, you are in effect creating inconsistency in your trading program.

And by creating such inconsistency, you will not be able to effectively track the performance of your overall trading strategy. We all know that certain trades are much easier to execute compared to others. As such, you have to be almost religious in your adherence to following your trading plan and executing on all your trade setups, even the ones you find difficult to pull the trigger on. This is certainly true as it relates to trading in the financial markets.

If you do not take the time to post the details of each and every one of your trades, along with your thought process during the trade, you will not have the benefit of being able to improve your results over time. By studying all the data around your trades, and your state of mind during the execution process, you can help isolate those problem areas that you need to work on and refine.

At the same time you will begin to understand where your strengths are in the trading process and how you might enhance those qualities as well. Creating a trading journal does not have to be a complicated task. Sure there are trading journal software programs out there that you can utilize to get more in-depth metrics, however, you do not necessarily need to start with these advanced tools. You can simply jot down your trade details and thought process on a piece of paper or Word document, and work from that.

Eventually you will want to become more organized in your trade journaling task, but, more importantly than anything else you have to believe in it and get started doing it right away. One of the best things that you can do for achieving trading consistency is to build a daily routine that becomes second nature to you. There is something inherently valuable in repeating positive habits on a daily basis. And this is not just a matter of opinion, it is a well-documented fact that has been suggested by many psychologists and behavioral researchers.

The mere act of performing a task on a regular basis can have a positive effect on our mental state of mind. Once we build a daily routine around our trading, we become more comfortable in the overall process, and as such it puts us in a more relaxed state of mind, which will inevitably enhance our decision-making processes in the market.

An example of a daily routine could involve the following — Get up at 7 am in the morning. Complete a 15 minute meditation session between and Get to my trading station by Check the overnight market activity and plot all relevant support and resistance levels by Watch the New York Stock Exchange market open at Scan all stocks within my watchlist at 10 am and determine those that display the highest bullish momentum.

Between 10 am and 11 am, look for a potential pullback to enter into one or several of these trades. To achieve profits in the market, you must have a consistent trading strategy. Now, a consistent trading method does not mean that every trade will be a winner. This is something that seems a bit confusing for some novice traders.

These traders often believe that the only way to make money in the markets is by having a high win rate strategy. One that results in more winning trades than losing trades. But these traders fail to realize that win rate is just one aspect of the profitability equation. The other component which is often overlooked is the reward to risk profile. More specifically, the higher the reward to risk on a trade, the lower your win rate can be to achieve profitability.

And vice versa the lower the reward to risk on a trade , the higher your win rate must be. This is an important distinction, and one, that all traders should be aware of. Depending on your own psychological makeup, you may prefer a trading strategy that offers a higher win rate, but lower average win to average loss ratio.

On the other hand, you might be drawn to a strategy that offers a lower win rate, but has a higher average win to average loss ratio.

You must decide which characteristic is more attractive to you and implement it accordingly within your trading program. What we can control is how we react to market events, and how much risk we allocate on any given trade. And so, even with a trading strategy that has a substantial edge, we can still suffer from Black Swan related events that can permanently damage our trading account.

As such, as a trader we must come to realize that our primary role in the market is that of a risk manager. Unfortunately, most traders are too focused on making profits in the market to ever take seriously the topic of risk management. Risk in the financial markets comes in many different forms. Risk can be seen from the perspective of account security risk, market event risk, trade execution risk, computer hardware or software risk, and weekend gap risk to name just a few.

Traders should make a list of all the different types of risk components related to trading in the markets, and try to address each and every one. Doing so will ensure that you are better prepared for unexpected events that can potentially destroy a trading account.

The best strategy for consistent profit in the Forex, futures , or equities market will change based on the current market environment. As such, in order to achieve optimal results, you should employ different strategies for different market conditions.

For example, when the markets are displaying directional price movement, then it would be better to employ a trend following approach. Conversely, when the markets are displaying range bound price behavior, then it would make more sense to incorporate a mean reversion approach within that market context. And so, there is no one best strategy that will be suitable for all market environments.

I do that because I do not like to take work worries back to the family and I do not ever want my kid, Heidi, to ever worry about money nor feel inadequate in any way. But My uncle and Rayner gave me hope. Below you will find a list of key concepts that can help you achieve consistency in your trading. I really hope to become a very profitable trader very soon. A simple example of this can be illustrated as follows — Upon identifying my bullish trade setup, I will 1 check the longer term support and resistance levels, 2 I will confirm that prices are trading above the 50 period moving average line, 3 make sure that there are no scheduled news announcements that would impact the trade, 4 I will check to ensure that I do not have any open positions that are positively correlated with this new trade.

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