​Priceless Article! How to Trade Successfully

WikiFX Strategies (23 Feb.) -The following are proven trading suggestions worth collecting!

1. Framework and advancement

There is no such a fixed paradigm that constantly favors traders in the changing forex market. Traders hoping to survive have to adapt themselves to the changes. For steady gains, a framework is necessary for each stage of the investment, and traders must correct it whenever the market changes.

2. Execution

Even if most people have more or less learned about some strategies, the truth is only executing them appropriately and trading with a disciplined approach can they work effectively.

3. Insist the right thing

A good investment may cause losses, while a bad investment may bring profits. But good investments are ultimately profitable after repeated transactions, and vice versa. Therefore, traders must stick to the right ones.

4. Follow the trend

Efficient trading systems are based on trend following. In most cases, traders should hold positions in line with the market trend.

5. Risk control

The market does not reflect facts, but people's opinions and positions. Traders should liquidate the position once getting confused about the position's performance or facing a wildly fluctuating market. Never gamble with your money.

6. Position management

The entry position is more important than the entry price. An overweight position will lead to fear that affects judgment. Beginners usually look for laggards that could soon play catch up, which is a misunderstanding. Successful investors tend to go long the strongest categories and short the weakest ones.

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