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Consistency
What is consistency?
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Consistency in trading
Consistency in trading involves the ability of a trader to consistently execute their statistically proven profitable strategy, resulting in a steady annual return at the end of each year.
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How do we become consistent
By having a statistically proven trading system that you know the ins and outs of and are truly confident in. You have to know what creates an entry signal for you. What constitutes an entry for you? You have to know where you will get out if your idea was proven wrong. Where do you get out if you are wrong? You have to know where you will get out if your idea was proven right. Where do you get out if you are right? You have to know how you will manage your trading once your entry signal was triggered. How will you manage your trade, once the position has been entered? If you can not answer all of these things on an in-depth level, you are gambling. After you have your statistically proven edge, you need clear risk management rules, so you can never blow the account. How much will you risk per trade? Reality Check Let me ask you this: “How can you expect to produce consistent returns on your trading account, if you are not consistent in your processes?” If you do not have your setups clearly defined, you do not have a foundation to build consistency in processes. Consistency in processes builds by knowing your setups like the back of your hand, which then consistency in processes produce and attract you consistency in trading that you were looking for all so long. You do not need any fancy technical’s, matter of fact, the best traders have the worst and most simple technical’s, they just repeat the thing that they know works for a fact over and over again, flawlessly. Parts of Consistency Once you know and have your system that is great, you just have to learn how to execute it flawlessly without your emotions stopping you from doing that, this is where most traders fail. If you do not have all the things mentioned prior you can not have consistency in your processes and with that no consistency in your results. It is literally delusional to think that you will be profitable over a couple of years if you do not have your processes clear on what to look and do specifically, when trading. Yes, you may have a profitable quarter or even year, it happens a lot, but once your luck runs out what is left is the pure facts and statistics of your trading system that you have built. And trust me on that, sooner or later it will run out, and then you will struggle trading not knowing that it was luck all along, already having quit your job and much more, now being stuck, making no money. Most people at that stage also tend to lose all the gains they made prior, as they trade for income and trade to make money, rather trade when their system tells them to.
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What can consistency lead to
All private investors look for when searching for traders to fund them capital with is consistency. Prop firms like FTMO or MyForexFunds are a great way to get your feet wet into the funding firm however where the actual true funding starts is with trading for a financial institution or private investor. With Prop firms the problem is they can disappear from one day to another (New Regulations or CEO being like FundingTalent), you do not know where their capital is coming from and also have many restrictions. The main problem with these Prop Firms is that they have a limit of funding that they can give you, which the right private Investor does not. If you are consistent and can build a track record (this should be your goal as trader) of consistency in processes and risk management, meaning no crazy big % equity dips, then you can start to find your private investor through several ways. These private investors will fund you up to 9 figure in capital, even going into the multi 9 figure in trading capital, but only if you are consistent and have undeniable proof of that. Of course consistency will lead to confidence in the end as-well, it becomes part of you, generally no one can take it away from you once achieved, because consistency is a state of mind.
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Consistency is a state of mind
Winning and consistency are a mental state in the same way that having fun, happiness and satisfaction are. Your state of mind is a direct by-product of your perspective, beliefs and attitudes. Traders who are consistently successful are consistent as a natural articulation of who they are, as within so without. They do not have to feign consistency, they are consistent. Ponder back to the best of your trades, they were easy and effortless. You did not seek to make them easy & effortless, they were naturally easy and effortless. At that moment, you were available and receptive to the opportunity flow of the market. When you are in with the flow, you don’T have to try given that everything you know about the market is available to you.
To be consistent you have to learn to reflect about your trading in such a way that you are no longer susceptible to conscious/subconscious mental processes that obscure or block information on the basis of what will make you jubilant, or to avoid pain.
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دسترسی ساده و سریع با اپلیکیشن تریدینگ هاوس
