NetPicks Talks About Consistency in Trading

June 22, 2018

One of the factors that many people look at when it comes to Forex trading or trading in any market is consistency. One of the reasons that people want consistency is that they believe that it is the secret to success. However, one article in NetPicks suggests that consistency might be overrated. One thing that this article points out is that consistency is listed among the variables that are needed for success in trading. Among the other variables that are listed are money management and a trading plan. These are great examples of what is needed for success in trading.

The article on NetPicks does state that consistency can be a vital strategy for trading. However, there is one factor that can make consistency work against an individual. This factor is the plan. For one thing, it is hard enough to be consistent when there are tons of participants in the trading game. Therefore, it is up to the individual to have a well defined strategy. At the same time, the individual may have to adjust his definition of consistency in order to compensate for the unpredictable nature of the market. Once they come up with a plan for consistency that is more dependent on a factor such as the trend.

 

One good example of consistency is being able to trade with the trends. One of the best ways to do that is looking at a trend and entering when the trend is going. While one is in a trade, he can look at the price action in order to watch for any breaks in the trend. Once the trend breaks against him, then he is responsible for closing the trade so that his loss is minimal if there is any loss. (Netpicks.com) has plenty of articles on how to read trends.

 

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