Patience is a major winning strategy in FX trading.

Trading the FX market for most market trader is like a young indian tiger that goes out for hunting first time. If the cob is too fast, the cob will scare its prey away and lose its meal for that day if not the next 2 - 3days. In the process of doing this, the cob will spend a lot of energy during the chase; and for the cob to get its next meal, the cob need to gain back its energy lost from the previous chase. This will be too bad for the cob if it is residing in sub-saharan Africa where the heat is over 60 degree celcius.

Patience is a major tool in FX trading; you need to study the market to determine your entry and exit point. This is very important part of FX trading. When I started FX trading, one of the challenges I had to face was entring the market too fast or too late. It really affected my earning potentials in FX trading.

Profits that was surposed to be attained in 2-4days took months to be achieved. Some of  you my dear readers might say that I did not lose at the end of the day; but the truth is that it altered the time I was surposed to make my profits.This could frustrating and discouraging in FX trading.

Most marketers in FX are really discouraged when this happens; individually we have our targets in FX in every trade decision we make; but when this is not forth coming, we tend to be easily discouraged --- I fill your emotions because I have been their 10years back.

Fortunately for us, we can stop this from occouring again; how? The major ways you can stop entering the market too early or late is by:

1. Plan every trade you want to enter before hand. In every business you venture into, planning is the key to great profits. And make sure you have no trade going on; this will help to put you nerves to order and give you clear mind to plan your trade ahead.
2. Do extensive study about the currency pair(s) you want trade as you plan; remember that planning is a function of the infor you've gathered. For a successfully executed plan, you must not only study the market in general, you must give a great attension to researches and findings for the currency pair(s) you intend trading. Most cases, I suggest you give at least 12-16hours for an extensive reseach and planning before trading.
3. Build an excessive confedience about your findings then trade - I hear a lot of young traders saying that they failed as a result of over-confedience; and I imagine or ask myself over-confedience in what? Friends is not wrong having confedience in your business, but you must discover the source of that confedience and make sure the sequences are placed correctly.
4. Also, very importantly, watch your lot size for the trade you are about to place. In most cases what saved me from the loss of entering the trade to early or late is the favorable lot size I use in my trade. Sincerely speaking, when you place a trade and the cost of that trade is more than 0.5% of your entire investment, friends watch that trade - you are indeed risking your capital. Make sure your lot size is absolutely convinient for you! This will help you to cob all the negative emotions that may arise during trade. Forget whatever hype you are hearing these days about FX trading; the truth is this: it is better to trade with micro account of 0.01 and remain in the market than to trade 0.10 and stay out of the market.

With this I have come to the end of my tutorials for today, have a successful trading experience ahead. Next on my tutorial, I will teach you what lot size that is associated with different start up capital.

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