Skip to main content

Consistency is Everything

I just want to say, Consistency is everything. 

Trading is ALL about Consistency. If you find a system, you do reasonable backtesting and some forward testing and you find that it gives you a statistical advantage (an edge) then the next step to take is simple. Just trade it. 

One must stay consistent. IF you keep adding or deleting indicators to your chart day in a day out you probably are not consistent. And how can you be consistent if you keep changing the environment for your mind and your eyes. Your eyes must see the same picture over and over and must not expect changed picture everyday. Meaning, if you keep using different templates on a weekly or daily basis, consistency will be hard to achieve. 

Beware The Template Syndrome: So I urge everyone to select a template and then forget about other templates. If you're like many of us, you probably have over a dozen templates in your mt4. I've seen some people when they click on their templates button two or 3 columns appear, yes hundreds of templates. But that leads to nothing. Our first indicator is price, you can add 2-3 more derived indicators anything more than that would just complicate things. Trading is ALL about consistency. and "Consistency = Patience + Discipline. "

If you want success in trading you must treat it as a business. You must be thorough. You must keep a journal and record everything. Accurate recording leads to better faster learning and helps with consistency. In a phrase successful trading is nothing but acquiring a personality trait. Being Consistent.

Let this be your new years resolution. To remain consistent so that you may find success and remain consistently profitable. 

Popular posts from this blog

Count Elliott Wave within 10 Seconds

After Reading this material you should be able to do the following:
Objective 1. Understand Elliott WaveObjective 2. Count Elliott Wave within 10 SecObjective 3. Learn how to use AO
Objective 1

What is Elliott Wave? 

We believe the market has a structure. That structure is Elliott Wave. We also believe that the structure also has a structure and that structure is shown to us on our charts by using our indicator AIMS Levels. EW consists of impulse waves and corrective waves. We are interested in trading the impulse waves and avoid the corrective waves.

Which wave is most profitable and easy to trade?   

Wave 3 is where we make money. Our strategy puts us right into the impulse waves, where the money is made.

Hypothetically, this is how Elliott Wave looks like.

Within each Impulse wave there are 5 waves.  of which wave 1,3,5,  are again impulse waves whereas wave 2 and 4 are corrective waves.

An impulse wave consists of sequence of 5 waves starting from 1 up 2 down 3 up and 4 down an…

Count Elliott Wave in 10 Sec

Example of Setup 1 and Setup 2. In the Chart below the blue arrow that point to the Red Dot is the spot which we Call Setup 1. The next AIMS/Fractal Level immediately after it broke down is what we call Setup 2. At the Red Dot alligator was sleeping. While at the second break Alligator mouth was open to the downside. 
Updated 11:00 BST

How to Trade Wave 3 Make HUGE PROFITS

The most important thing I learned few years ago was that the market was a wave. Well not the market, but the charts that we look at. It always moves in waves. Someone actually named them after themselves but we don't really need that lovely name (Elliott Wave). Because we don't need to complicate things.

When I talk about waves, I don't mean the popular Elliott Wave. I mean the WAVE we have on the most beautiful indicator called, ahem it has many names, AO, The Awesome Oscillator, The eWave, AIMS Wave etc.  It helps us see the market in a smooth wave going above and below a certain Zero Line. .. It helps you ignore the going up and going down of the price concept. For us technical traders, we don't have an up and down as such specially in forex. All we see is eWave turning Red or Green.

Assuming you already know a bit about the wave. I know most of you will want to know the answer this fantastic question. How to trade the third wave?

They all ask that question, and s…