Forex Strategy Trading Hints: How To Develop The Patience Needed For Successful Forex Trading.

There is an ancient Chinese saying that says Good things take time and highly remunerative investments do too. As a foreign exchange trader I have realized that the more patient you are the more profit you make from your trading.

Forex strategy trading is all about making savvy choices at the right time. In this article I would like you talk about how you can develop the needed amount of patience for lucrative foreign currency trading.

It is not about amount but the grade of your trades: It is impressive how many people out there believe that by taking more trades they will create more income. I have actually found the contrary to be true. A variety of individuals will disagree with me on this but thats ok.

I fervently believe that the more trades you take the more times you expose your account to risk and the more room you have to make inaccuracies. In average I take about only 5-10 trades on a monthly basis and I put attention on higher time frames.

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

I find it really intriguing how many of my confidant traders who trade lower time frames make less profits or the exact same revenue I generate but with about 3 times more work from their part. Efficient foreign exchange trading can only be obtained through working smarter not harder.


Focus on the process not on the profits: I have always stated that if you focus on how much profit you are going to produce you will not concentrate on trading productively and making smart judgements.

The other day I was reading one of my favorite books called Market Wizards by Jack Schwager. One of the famous traders he interviewed for the writing of his book mentioned something that had a pretty strong effect on the way I see Forex 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 completely true for currency trading. If you dont know what you are doing and your risk management is off you might just blow up your trading funds (that maybe took you years to save) in a matter of hours. This is why every trader needs to focus on the process rather than focusing on the profits. Remember that playing a strong defense will be more beneficial than playing a firm offense.

A profitable trading strategy plus patience and discipline is all you will need to succeed: Most FX traders have a challenging time focusing on one strategy and because of that, they lose more money than they earn.

Many of my friends and trading partners come to visit me to my office due to the fact that they would like to see how I trade and most of them are thoroughly puzzled after a couple of days. They look forward to to see me trading all day long, working hard at it, and always looking at my computers.

Instead of that they are shocked when they discover 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 on vacation.

The reason why I am in a position to do these things is because I have focused all of my energy on becoming more effective and trading smarter, not harder.

You can do this too by concentrating on higher time frames, taking fewer trades, and concentrating on the process instead of the profits. Stay tuned as we will publishing more Forex strategy trading tactics very soon.

To your success,
Jay Molina
Pro foreign currency exchange Trader & mentor