WikiFX Strategies - Here are seven trading rules that will benefit you to different degrees.
1. Trading is not a trifling matter
It is a business, in which long-term success is not possible without proper plans, strategies, and effective operation.
2. Loss is unavoidable
Since risk always exists in the market, controlling the loss is a must in case of a shift from bullish to bearish in your trading. Close your position as soon as the risk is triggered.
3. Stay positive
Be grateful even when you fail. Learn from failures and accumulate these lessons. Everyone can profit from the market, but loss happens from time to time. The market will reward you tenfold if you stay calm and apply consistent strategies.
4. Think less & do more in the uncontrollable market
While the market is uncertain, you need less thinking and more trust in your trading strategies. You can't make a prediction 100% accurate, but you can control your actions. It is important to find out and stick to your own trading strategy.
5. Obsession with money is an obstacle to success
Although making money is the main motivation for market participation, obsession with it will only cripple your performance. Keep your trades in a small size, to control your emotions and engage in the market for a long term
6. Use WikiFX as assistant
A reliable and authoritative global inquiry platform can help you considerably enhance trading results and reduce potential risks. WikiFX is this kind of inquiry platform that not only provides basic forex trading knowledge but also assists you in evaluating the safety and reliability of more than 40,000 global forex brokers, which gives you a huge advantage when seeking the best forex brokers.
In addition, WikiFX can help you grow into a forex trading expert faster than you think. You can open our website. Or you can download the WikiFX APP to find out more.
7. You will forget
You will inevitably forget these trading rules, so please review this paper regularly.