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Abstract:There are more than 8 billion people on the planet (including space invaders dressed as humans and automobiles), and no two people are alike.
Each trader is a one-of-a-kind individual.
There are more than 8 billion people on the planet (including space invaders dressed as humans and automobiles), and no two people are alike.
Even identical twins' fingerprints will differ.
Everyone has their own unique appearance, personality, talents, and preferred pizza toppings (we like pepperoni and potato chips).
We all have various interests and are one-of-a-kind in our own way.
It's the same with trading. Our distinct personalities will cause us to trade in diverse ways.
Some traders have an aggressive “type A” personality, while others have a more easygoing “type B” disposition.
Some people like to win tiny amounts of money all of the time, while others are willing to lose a little in order to win big.
As traders, we have a range of tools at our disposal for interpreting market movements and profiting from them.
Some traders may rely on a single strategy nearly completely.
It's important to remember that no two traders are alike.
Even if a number of people traded the same system rules, the ultimate results would almost certainly be different for each person.
Is this a good thing or a negative thing?
Not in the least!
Because our individuality is what makes the world go round, it's critical to understand your personality and lifestyle in order to determine trade strengths and limitations.
If your stomach has been sensitive to spicy food since birth and you try to force yourself to eat pizza filled with habanero and jalapeo peppers to impress that hot gal or guy on a date, you will most likely experience frustration (on the toilet seat) and the toilet will finally become clogged (from flushing).
The same may be said about trading.
Trying to force a transaction that isn't a good fit for you will frustrate you and prevent you from achieving consistent profits.
The next classes will walk you through a number of trading styles so you can figure out which one is ideal for you.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
These champions have one thing in common: they not only work their butts off, but they also enjoy what they do.
"Patience is the key to everything," American comic Arnold H. Glasgow once quipped. The chicken is gotten by hatching the egg rather than crushing it."
Ask any Wall Street quant (the highly nerdy math and physics PhDs who build complicated algorithmic trading techniques) why there isn't a "holy grail" indicator, approach, or system that generates revenues on a regular basis.
We've designed the School of WikiFX as simple and enjoyable as possible to help you learn and comprehend the fundamental tools and best practices used by forex traders all over the world, but keep in mind that a tool or strategy is only as good as the person who uses it.