Trading Educators Blog
Is it really possible to be consistently profitable?
When you are in a slump and feeling frustrated and disappointed, you tend to think, "I'll never be profitable, and there is nothing I can do about it." The consequences of such reasoning are that you'll never feel like putting on a trade ever again. It is better to think, "Profitable trading is almost impossible, but I can learn how the markets work, develop the necessary skills, and eventually achieve consistent profitability." Perhaps this isn't the most optimistic way to look at trading, but it does hold some realism. It isn't overly optimistic. Profitable trading is "almost" impossible. The key word here is "almost." It is essential to acknowledge that trading is a challenge that few seem to master. By acknowledging the difficulty, you are looking at the trading realistically and will be able to handle setbacks as they come.
If you aren't expecting very much in the first place, you won’t be easily disillusioned when you face some losses. The second key issue is the need to develop the necessary trading skills. Here's where realistic optimism comes in. You should know for a fact that there are traders who have developed trading skills and have realized success. It is realistic to hold this belief and it is realistic to believe that if you put in the time and effort, and get the proper amount of training, you too, can be profitable. Maintaining such an attitude is the way to go. It realizes the limitations of trading, but it also offers hope. So when you are ready to give up, strive for an optimistic yet realistic attitude: You can make it as a trader through hard work, extensive experience, and persistence. But make every effort to work smart, not just hard. The smarter you work, the less the work becomes hard. By keeping this in mind, you'll gladly work diligently until you achieve the consistent profitability you have been looking for.