How I Keep my Consistent Forex Strategy!

Keeping a consistent Forex strategy is dependent of your skills as a trader. However, this is very far from everything you need. We must always consider the fact that the market is different from day to day. Perhaps also from hour to hour. Thus, your results will vary due to the present market conditions. From this point of view; how do I keep my Forex trading strategy consistent?

What is the goal for my trading strategy? What do I want to achieve with it? In order to answer these questions we must understand that discipline in trading is more important than market knowledge itself. I set the goals for performance higher than the actual daily result. I also have a long term goal for the future performance of the strategy. In general, I make sure that there is sufficient consistency above the actual daily results. That means, when the daily results are reached I simply stop the trading activity for that given day.

Time is money, is one of the basic philosophies behind my way of trading. In order to keep consistency I must make sure that my strategy covers sufficient market conditions. In addition I must also make sure that those conditions provides sufficient results. The way the results are generated depends on the market entry- and exit-points defined. In this way, with conditions working well on one currency pair, it can easily be duplicated to the next.

Use of Algorithmic Trading to Achieve a Consistent Forex Strategy

As mentioned earlier; several myths exists about algorithmic trading. However, the reality is much different. Algorithms are created by humans and they do nothing else than what they are instructed to do. Computer systems can be set up to learn and recognize market conditions. As a result we see more of Artificial Intelligence and self learning systems. However, the fundament is still created by humans. As a trader I have recognized that market events repeat themselves on daily, and even hourly, basis. This is why I have found it very useful to instruct computers to do more of my work.

I use algorithms to monitor market conditions. The human eye might very well monitor a single currency pair. However, when it comes to “mass monitoring”, a computer based system becomes necessary. An algorithm can also trigger any market entry- and exit-point faster than any human brain. In the end; algorithmic systems have the benefit of keeping emotions out.

Can you make your Forex strategy become your lifestyle?

consistent forex strategy

“Are you confident in your own trading strategy? Are you so confident that you can let your strategy define your lifestyle? Being confident in your trading strategy implies believing in yourself. In a sufficient amount, success as a Forex trader will come to you”

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