I will first say that winning and losing is a mindset. We as human beings learn everything in life through failing first.  

When trading the markets the number one goal is to maximize your profits and win as many trades as possible. Most traders somehow start having the mindset that every trade will be a winner. Traders need to understand that trading the markets is about probabilities. That means that any trade at any time could be a winner or loser. What we look for are trades that have the highest probability to go our direction.

Our trading method or strategy is what gives us and edge when trading the markets. If you are a trader you will lose trades. Losing is inevitable when trading, in fact knowing how to handle losing is probably one of the critical factors to be successful. 

So, handling losses or maybe I should say controlling your emotions and the irrational behavior that starts to creep in to the mind after taking a loss is key. Once  you lose control of your emotions you might find yourself on a slippery slope with a large list of consecutive losing trades.

The normal response to a losing trade is to want to make the loss back and this leads to over trading, risking too much on one trade or not waiting for the next setup according to your rules but just jumping in. These are the things that will without a doubt drain your account of your hard earned money.

If you understand that any trade could be a losing trade then you will more likely stick to your trading rules and maybe more importantly your money management system. With managing your money and having an edge or a proven trading strategy you could lose 70% of your trades and still be a winning trader. I even know a trader that loses 95% of the time and he makes 7 figures each year. 

One thing that you will need to identify is if your losing streak is because of your emotions or just market conditions. This is why a trading journal is key. The only way you can evaluate that is by having data to analysis. This will be found in your trading journal and your trading self-analysis that you do each month. 

If you find your self on one of these losing streaks you will want to stop trading immediately and start learning or going back through your trading strategy. Find a money management system and risk management system to start implementing into your trading strategy. Set some realistic goals for your trading business as well as a risk progression strategy when getting back to trading real money again.

Patience and discipline are critical. I believe if you are having trouble it most of the time (not all) is brought on by greed (fear). If you slow down and with most traders if you start looking at the daily charts your trading will almost improve instantly. learn to be picky when choosing your trades.

Most people who come into the Forex trading arena think that the more complicated and complex the trading strategy the better and more profitable it will be. What I would like to propose is that you only need two things to have a solid trading strategy. These two components are key horizontal levels and price. Of course there are a couple other things you can do that will increase the possibilities of winning trades.

I believe that with these two components you have the simplest trading strategy there is. Why do people want to complicated trading to a point of losing their money.

Key horizontal levels are important!

Key market levels or value areas allow traders to time their entries as well as help determine risk when their are trading. When value areas are combined with certain price action formations you have a good start to a solid trading strategy. To have a complete trading strategy worth risking your hard earned money you will want a few more things to come together like trend and risk to reward etc...

My price action trading strategy focuses on key market levels, very defined price formations, market trend and risk to reward. Market levels and price are the foundation to the way I trade the markets.

You can take a look at real live trades and screenshots of those trades on my trading blog. If you want to become a consistently successful trader take a look at my trading course and coaching packages. 

Discipline is a pivotal factor in having success with anything in life. With trading you could amplify that by 10 times. Most traders have a very difficult time maintaining discipline when trading. This article will give you insight into how critical it is to become disciplined as soon as possible with your trading and in turn change the negative habits that you have subsequently created.

Trading is one of the easiest things to do. All you have to do is click your mouse and you are a trader. There are a couple of things that are needed in order to have continued success when clicking the mouse to trade. First is a business plan and a detailed trading plan. Second is the discipline to stick to that plan you created. The underlying reason that most traders put off learning to be disciplined is greed or fear of missing out.

Discipline is about habits. There are only two things that dictate our actions and those are "doing habits" and "not doing habits". So we have habits of doing things and habits of not doing things. It is most of the time the habits we've created of not doing things that lead us to not be successful.

Good trading habits are easy to create and bad habits are fairly simple to change. If you do a few simple tasks each day for a short period of time you would see those destructive habits disappear and new habits appear. It is best to work with a professional coach to help you in these areas.

Having a business plan, trading plan and trade journal is the key to changing your destructive habits and becoming consistently successful when trading. These are the tools you will need to gauge your trading and give you insight into your habits (good and bad). With this information you can make the appropriate changes to rid yourself of the bad habits and focus on the good ones.

Do you have the discipline to follow your trading rules, journal trades and practice proper money management when trading? No? Why not, when you know that following ALL the rules is critical to your success when trading. As human beings we are controlled by fear and when our emotions get involved with our trading we make irrational decisions. We are weak and have trouble sticking to our decisions, that's why we can’t stop smoking or fall off that diet.

It is time to look deep inside and ask yourself, why have I been failing? When I asked this question I realized that it was not my strategy or my plan but it was my discipline. I wanted to follow the rules but found that I had a lot of trouble doing so. Does this mean I should quit? The solution is to find an accountability partner who knows your rules and understands how you are trading, They then can go over your trades with you to make sure you are following all the rules to your trading plan. You should submit your trades each week and that way you will get the feedback you need to gain that strength to succeed.

This accountability partner must be one that cares enough about you to hold your feet to the fire when it comes to you following your plan. Someone that will look you in the eye or in the email as the case may be and say; “Why did you take these trades, you didn’t follow your rules or trading plan?” That is when you look back at them with your mouth open, having no excuse except your weakness.

When you have experienced that it can change your bad habits, real fast. Most of the time your accountability partner will not be the most popular person especially when they are uncovering your faults. An accountability partner will keep you honest and in turn that will make you successful. Discipline and accountability is the key to success when trading the markets, but actually doing it is easier said than done. Humbly admitting our faults is very difficult. But if you are determined to be successful this will be the key that unlocks all your goals and asperations as a trader. Accountability is a big part of becoming successful at trading. An honest self-evauluation seems that it would be easy to do. But the truth is we have a hard time objectively looking at our actions. Having someone objectively evaluate your daily, weekly or monthly trading is pivotal.