Currency trading on Forex can be a lucrative business but if you’re not achieving the profits you want, it’s time to consider a couple of things. First, consider your technical analysis abilities. If your analysis abilities aren’t up to par, your trades will reflect it. Also consider your plan, you should have a plan written out and you should stick to it. If you forget your plan or aren’t executing it properly, you won’t be trading as well as you can.
- When looking for reasons that you aren’t successful, then start looking for the cause of your problem.
- Not knowing the basics of technical analysis can lead you to not being a successful trader.
- Looking for trades can lead to mistakes, instead take your time and wait for perfect trades that you can analyze before making.
“The market environment may be constantly shifting and that’s the nature of the beast, but remember that consistent profitability can be attained by staying disciplined and following your tried-and-tested trading plan.”