Forex Strategy Trading Tips & Hints: How to Achieve The Patience Required For Productive Forex Tradi

There is an old Far east saying that says "Good things take time" and really lucrative investments do too. As a foreign currency trader I have discovered that the more patient you are the more revenue you create from your trades.

Forex strategy trading is all about making intelligent investments at the right moment. In this article I would like you talk over how you can develop the necessary amount of patience for prosperous Forex trading.

It is not about quantity but the quality of your trades: It is unbelievable how a great number of individuals out there believe that by taking more trades they will make more capital. I have actually found the exact opposite to be true. A lot of people will disagree with me on this but that’s ok.

I fervently think that the more trades you take the more times you undress your account to risk and the more room you have to commit inaccuracies. In average I take about only 5-10 trades each month and I put attention on higher time frames.

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

I think it is pretty intriguing how many of my colleague traders who trade lower time frames make less profits or the exact same revenue I make but with about 10 times more work from their part. Efficient fx trading can only be accomplished through working smarter not harder.


Concentrate on the process not on the profits: I have always believed that if you focus on how much money you are going to generate you will not focus on trading effectively and making smart investments.

The other day I was reading one of my favorite books named "Market Wizards" by Jack Schwager. One of the famous traders he interviewed for his book stated something that had a tremendously strong effect on the way I see 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 absolutely true for foreign exchange trading. If you don’t comprehend what you are doing and your risk management is off you might just blow up your trading capital (that maybe took you years to save) in a matter of hours. This is why each and every trader needs to focus on the process instead of focusing on the profits. Remember that playing a solid defense will be more valuable than playing a strong offense.

A productive trading strategy plus patience and discipline is all you need to have to be a success: Most currency traders have a really hard time concentrating on one strategy and due to that, they lose more money than they produce.

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

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

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

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

Best regards,
Jay Molina
Expert foreign currency exchange Trader & coach

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