​Five Tips Summarized After 20 Years of Trading

WikiFX Strategies (10 Mar.) - There are some things that you can only wake up to after experiencing them yourself. Here are 5 facts summed up by an expert who has traded forex for over 20 years.

1. Don't spend all your time trading, but trade according to your time zone and in your spare time. Stop trading when it's time to. Otherwise, you will turn impoverished from excessive trades, become gloomy, and lose your friends within 6 months.

2. Time and experience are the only things that could change your trading attitude and frequency. You may be enthusiastic about trading at the beginning and thus find yourself reckless, but this is necessary paving for later epiphanies.

3. It is destructive to target a fixed number of pips every week. Let's assume you set a target for a week at 50 pips, yet you reached 46, 48, and 49 pips in the first three weeks. It seems you failed to reach your target, but the fact is you have been making progress. The profit percentage may be a better goal.

4. It takes only 5 minutes to operate a trade, but 45 minutes to record it. Taking notes may seem pointless, but you will realize its importance after discovering your trading habits and attitudes from them.

5. Failures in trading are scary, but you will build some optimism if communicate with investors at a higher level. Instead of turning you into a better trader, such an exchange will give you more confidence.

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