Consistency versus Intensity; Key to lasting success in trading and investing
In this article we explain why consistency in trading the forex, futures and stock market is the most important driver of long - term profitable results.
Consistency versus Intensity; Key to lasting success in trading and investing
Imagine any of the sophisticated professions you know, they all require a high level of skill and years of training and practice. Pilots and Doctors, especially surgeons, know how high-risk and dangerous their work is. Its proficiency is usually placed on proper training and continuous practice. To an outsider, their job is extremely difficult if not impossible, but due to years of training and consistent practice, they have been able to master it so well it almost seems effortless. Consistency can never be overrated. It is the soul of perfection and progress.
Aristotle once said, "We are what we repeatedly do. Excellence, then, is not an act, but a habit."
Consistency is a general idea that most forex, futures, and stock traders know but only few practices. Everyone knows they need to work hard at their trading skills consistently, but not many take the time to develop a Supply and Demand trading strategy and practice it over time. If initially, you didn't know how essential consistency was to your success as a forex, futures and stock trader and investor, prepare for massive mind enlightenment.
Consistency will help you master a skill so well that challenging activities and processes become almost second nature. To get started is the hard part, but once that is settled, you'll come to realize that long-term success is worth the stress.
Building a trading account is like building your muscles
Regular visits to the gym will help a person become fit and healthy, just like eating healthy will help a person maintain their shape and health. When these become habits, it is easy to do them continually. However, for a person that is grossly out of shape with extremely bad eating habits, implementing any of these life-changing decisions will prove quite hard and a near impossibility to say the least. This difficulty is usually brought about by the continuous practice of unhealthy behavioral pattern, and now breaking the cycle will require an extremely high level of discipline and self-control. For a person who has taken the pain to develop these habits continually and slowly over time, they actually enjoy exercising and eating healthy, and this is because it is now a regular daily lifestyle, and they have conditioned their brain to see it like that.
Similar to the sleeping habits we develop over time, if you constantly rise early to go to school or work, it soon becomes a part of you, such that even without your alarm, you find yourself waking up around a specific time frame. If you sleep late, it also becomes a habit, and you don't get to feel sleepy until a particular period, sleeping late will consequentially cause waking up late, which means unproductive morning. These are simple, predictable patterns.
Consistently exposing yourself to new materials and frequently challenging your mind will make you a very knowledgeable person and will make your mind more productive. A productive mind will yield more results financially.
Consistency inherently ends up building habits, and in all sincerity, we are defined by our habits and lifestyle. Any activity we consistently perform soon becomes a part of us, and any pattern we repeat tends to define us ultimately. A man is not defined by his wishes or dreams but by the activities, processes, and thoughts he puts into action. If a person continually smokes cigarettes, they will end up developing a smoking habit and will soon become addictive smokers. Life itself is just as simple as that. If you start off trading forex, futures and stocks on a disciplined level, and you apply yourself to manage your risk and sticking to the Supply and Demand trading strategy, and you consistently ensure that you don't over trade or jump at every seeming opportunity, you'll develop strong and powerful trading habits that will ensure your long-term success as a trader.
When you apply yourself to the building of strong and beneficial habits, you'll discover that what you have achieved over time seems almost impossible to folks who do not pay attention to their patterns and level of consistency.
The best decision one can make is to apply these principles to our personal lives and consciously develop habits that will move our lives forward progressively and ensure our success. For each positive habit, you successfully implement and each bad habit you conquer, you are making an investment in yourself that will significantly multiply in the nearest future and bring about returns of success. Consistency and positive behavioral patterns are not achieved in a day. They are the price we pay for the life we desire to live.
Always remember to start slow and continuously build it up, it eventually becomes easy, and you now do those activities without much stress and with little resistance.
Step 1: Create a trading routine and a Supply and Demand trading system
You have to understand that a lot of new forex, futures and stock traders are merely swinging it, no plan, no strategy they just want to trade the forex, futures or stock market and of course from your own experience you know this is a disaster waiting to happen, and when the disaster finally strikes, they get discouraged. Instead of just getting proper education on how to actually do it right, many people quit.
The first thing required of you as a new forex, futures or stock trader is to get a consistent approach, instead of chasing the results, track the process and stick to that one approach no matter the distractions and noise around. Laser focus is what you need to maintain. If you don't do this, the only results, you'll get are results of failure.
When you pick the Supply and Demand trading approach, you promise yourself you'll stick to it, and you consciously do everything in your power to ensure you keep that promise. Then you proceed to learn everything about the approach you picked. You study and practice every little detail. You pay attention to every point and every aspect.
Mark Douglas once said, "No man ever reached to excellence in any profession without having passed through the slow and painful process of study and preparation."
When you examine other professions, this becomes instantly clear and obvious. A year-one or year-two medical student doesn't get to treat patients immediately neither does a student pilot get to fly a plane full of passengers on the first trial. These things have steps to it; there are stages and procedures to that level of responsibility. It is obvious you might not even know what you are doing at the beginning, but as you dedicate yourself to process and practice, you get better at it and start getting positive results.
Many people in trading forex, futures and stocks fail to realize this connection. After just two or three months of training, we want to use our life savings and hit the market running, and of course, the aftermaths are not usually a pretty sight.
Instead of realizing this fact and dedicating yourself to the rigorous process of growth, nope these new traders go and buy better indicators and new patterns like they don't realize a better tennis racket will not make you a good tennis player if you are unskilled and untrained. It is merely another avenue to waste resources.
At our online trading academy, we teach our students the Demand and Supply approach. We also tutor them on the importance of focusing and sticking to a plan instead of jumping all over, trying to find anything that works. Develop a trading plan and stick to it, study it carefully, and examine every aspect of it. Dedicate time and resources to that one process and give it all you've got, avoid distractions at all cost. At our online trading academy, we provide our students with a set of fixed principles based on Supply and Demand, and after a few months, we remind them of these principles and help them stay on course. Ultimately, they are always very grateful for the stability that this provides.
Step 2: Consistent results
Now that we have successfully created our pattern, and we have the set principles to follow, the next step is to patiently and consistently use those patterns and push through.
You'll lose a few times because this is your learning stage; you are learning what works and what doesn't. This will be easy for you to learn because you have a solid pattern, and you can easily spot when something isn't right. A stable pattern will help you easily differentiate between a wrong setup and a good one.
You have to realize that no matter how good a trading approach is, it all still depends on you being a disciplined trader.
Bruce Lee once said, "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."
When you were in school, do you switch subjects each week because you do not understand? The answer is no. You simply apply yourself to studying more and pushing through, and with time, it becomes more explicit, and you get to understand it better.
Step 3: You become better and better until you master it
Once you have successfully created the consistent trading system, and you have generated consistent results for a while, this will allow for improvements and for you to grow and get better.
If you carry out the same Supply and Demand approach every week, it will make it extremely easy to spot your mistakes and filter out the noise and rubbish. Consistently taking the same route will help you become familiar with the process, and you'll learn what works and what doesn't. This way, you will ensure continued success and positive results.
It might not be easy, and finding a new method might seem seductively better, but no one ever achieved greatness by jumping about, only by sticking to that one thing and becoming a master at it. You can't merely opt and quit every challenge you face in life. You will have to persevere and push through, only then can you become like the people you admire. Master Supply and Demand and stick to it no matter what, solve the problems as they arise, and you'll discover you are already on your way to accumulative success.
Learn how to make commitments and stick to them; don't be a quitter!
This simple formula will help you put things in perspective: Consistency = Habit = Results
If you follow your trading routine consistently, you refuse to over trade, you properly manage your risk, and you continuously improve your set of skills, you give yourself the best possible chance at succeeding. However, if you decide to be undisciplined and erratically trade, you'll discover you are eating away at your capital without making progress.
The great thing is the fact that this all depends on you. You decide the kind of trader and the kind of person you want to be, and then you go for it. The choice is yours to make.
Consistently trading effective methods with discipline like how our online trading academy teaches the Supply and Demand method at our forex, futures, and stocks trading class, and implementing such method continuously and consciously will help you develop the right habits and will eventually yield consistent and continuous results.