Trading Is a Marathon, Not a Sprint, so Trust the Process & See How Far It Goes
With the proper mindset, years of intense training, exploration of history and a mentor to steer you, you can conquer any gruelling marathon in your life. Sprinting too rapidly from the outset will lead to exhaustion and worse, defeat.
Running a marathon requires tremendous preparational efforts and pacing, as does investing in the Forex markets. Now, that being said, you will never thrive in trading without adequate information, skills and preparedness.
Even if you’re fortunate, being a good forex trader doesn’t mean you’ll strike the lottery or evolve into a millionaire overnight and unfortunately, it is easy to get seduced by the prospects of winning big while you are trading. How many of us have grown up with a familiar tale like “The Tale of the Tortoise and the Hare?”
An analogy to trading may be drawn from this scenario, too. Overconfident, bossy and complacent reckless behaviour took place in the Hare’s mind. Aside from being sluggish, the Tortoise had the edge of being deliberate and consistent wasn’t impatient, and paced itself.
The slowest competitors win trading races; this is a fact you may have noticed in your trading career or perhaps others. Those who abide by their rules and execute deals appropriately will eventually outperform those who rush in (as most traders do), hoping to make a ton of money instantly and staking too much on every trade.
For long-term triumph, as a trader, you must slow down and be consistent with your trading strategy or you will wipe out your account faster than a sprinter can sprint because of excessive trading and risk-taking on your part.
If, after placing a live trade, you can’t quit checking the charts because you’re tautened about your trades, you’re sprinting and being haughty (like the Hare), which will lead to your downfall. But, like a wise man, after initiating a trade, you should be able to switch off your charts and stroll out till the next day, knowing that you are entirely in control of your situation.
Your trades are a marathon, not a sprint, as the reality of trading demonstrates. Elite trading does not rely on making massive jackpot trades to establish one’s reputation. Instead, tiny daily victories are what’s required to keep the grind going.
You might sometimes be fortunate enough to generate substantial profits but only after years of consistent efforts and daily action—you’ll earn that spot and you deserve it.
Lionel Messi, the famous football sensation of Argentina, once stated that getting from where he was to now took 17 years and 114 days.
Pace yourself for victory
Trading without taking pace into account is a common occurrence among retail investors. Don’t risk too much money in a single trade and avoid trading out of sheer desperation. When traders place too much emphasis on every deal, they find themselves in over their heads. In reality, you don’t have to do this.
What counts most is the implementation of your trades’ across a considerable number of the trade’s in the long run. In order to win the long-distance trader’s marathon, you need to conduct research, discover your potential, adhere to the edge for the duration of your trading career and keep your capital safe.
If trading is your career, be serious
To become an expert in anything, you must devote considerable time and attention to pursuing that domain—trading is not an exception. Trade with integrity if you want to make a living from it. Self-disciplined individuals have the potential to be outstanding traders.
Despite its sluggishness, the slow road is the most effective one to adopt. Believe me when I say you will not want to lose all of your trading money within a week of opening your live account. There is no substitute to having someone who can answer your questions, give you advice and point you in the right direction.
Taking the initial step towards making money in the Forex market is up to you. You’ll have to put forth the effort. Abstain from the jackpot mindset. Unfortunately, not all trades will turn out well and you may find yourself in a bind at times. Small victories, however can add up to significant gains and a continually lucrative trading account as long as you maintain your consistency and effort.