Forex Strategy Trading Secrets: How to Develop The Patience Required For Competent Forex Trading.

There is an ancient Oriental saying that says “Good things take time” and quite prosperous investments do too. As a currency exchange trader I have learned that the more patient you are the more money you create from your trading venture.

Forex strategy trading is all about making clever decisions at the right time. In this article I would like you go over how you can build the needed amount of patience for profitable currency exchange trading.

It is not about amount but the quality of your trades: It is stunning how a great deal of people  out there believe that by taking more trades they will make more profit. I have actually found the opposite to be true. Many people will disagree with me on this but that’s ok.

I sincerely think that the more trades you take the more times you expose your account to risk and the more room you have to make mistakes. In average I take about only 5-10 trades each month and I focus on higher time frames.

Why? Because the big money is in the higher time frames. All the hedge fund managers, money managers, and institutional traders are looking at them. For this reason more profits can be produced in a daily or 4 hour chart than a 5 minute chart.

I think it is very interesting how many of my fellow traders who trade lower time frames make less or the exact same profits I make but with about 5 times more work from their part. Successful foreign exchange trading can only be obtained through working smarter not harder.


Focus on the process not on the profits: I have always trusted that if you focus on how much money you are going to create you will not concentrate on trading productively and making smart choices.

The other day I was reading one of my favorite books called “Market Wizards” by Jack Schwager. One of the traders he interviewed for the writing of his book said something that had a tremendously strong impact on the way I see forex currency trading.

The name of this trader is Paul Tudor Jones. He is a legendary futures trader and he once said “everything gets destroyed a hundred times faster than it is built up. It takes one day to tear down something that might have taken 10 years to build”

This is entirely true for foreign currency trading. If you don’t know what you are doing and your risk management is off you could blow up your trading  funds (that maybe took you years to save) in a matter of hours. This is why each and every trader has to focus on the process instead of focusing on the profits. Remember that playing a robust defense will be more productive than playing a strong offense.

A productive trading strategy plus patience and self-discipline is all you will need to be successful: Most Forex traders have a very difficult time focusing on one strategy and due to that, they lose more money than they earn.

Many of my friends and trading partners come to visit me to my office mainly because they really want to see how I trade and most of them are entirely puzzled after a couple of days. They expect to see me trading all day long, working hard at it, and always looking at my charts.

Instead of that they are stunned when they learn that I only place about 1-3 trades per week and monitor them as the days go by. Then the rest of my time, I am exercising, going out to places, spending time with my family, or on vacation.

The reason why I am in a position to do this is because I have concentrated all of my energy on becoming more productive and trading smarter, not harder.

You can do this as well by concentrating on higher time frames, taking fewer trades, and concentrating on the process rather than on the profits. Stay tuned as we will submittinf more Forex strategy trading strategies very soon.

Best regards,
Jay Molina
Expert currency exchange Trader & trainer

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About the author

Jay Molina is an advanced Forex trader that helps other investors around the world to learn about the Forex market and its rewards and risks. For more forex strategy trading tips, visit the link: http://www.myfxinvestment.com

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