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5 Things All Traders and Investors Need to “Own” in 2020
1. The year 2020
It‘s gonna be the year that you will be proud of yourself as a trader and investor. It’s gonna be the year you look back and say “I survived”. Or it‘s gonna be the year that will break you and you’ll eventually give up on trading and investing.To get more news about WikiFX, you can visit wikifx official website.
Whichever version its gonna be, 2020 is definitely gonna be the year you remember.
I‘ve seen traders make amazing profits and return so far this year from the financial market. And I’ve also seen traders blow it all off within just two months trying to trade and invest in the market.
Let‘s face it, 2020 is definitely a unique year, let’s acknowledge it, and if you havent done so, OWN it too.
2020 is gonna be in your book of life (well, unless for some reason, you decided to cut it short, which I certainly hope not) so make the best use of it. Pick up the lessons taught, work on the areas that will strengthen you, grow out of this 2020, and be a stronger version of yourself.
2.Patience
I get it. All of us want things fast. Who wouldnt？
Especially in todays context, we are wired to seek out instant gratification.
We want to be able to trade and invest fast. We want to be able to profit from the market fast. We want to achieve our financial independence fast. And 2020 might be pulling you back.
But how many times have rushing helped and benefited you？ Not many, if not none at all, I would believe.
“Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.” - Mother Teresa
Heres my latest performance for 2020 (as of 27th June), a net 0.66% capital growth for the first half of the year.
To be honest, I‘m getting a little impatient too. I was doing 43.04% gain last year and I wanted to up my game with a target of a 50% capital growth this year. But I’m nowhere near it. 2020 is just the year that whenever I buy, the price just goes down; and whenever I sell, the price just goes up.But I know there are things in the market that I have to always respect. And being patient is one of them.
As a trader and investor, always remember, “When you have a tough year, it‘s gonna end; when you have a really good year, it’s gonna end.” - Ray Barros
The question is that are you still gonna be in the market when the tough year ends or have you been knocked out entirely？
I‘m certainly not proud of my performance this year, but I take pride in managing my emotions and risk very well. And I’m proud of some of our traders in the community. I know some of them are killing it this month alone.
Trading and investing is a marathon and never a sprint. So pace yourself well.
And one of the key elements that is absolutely critical to your long term success, as mentioned by Marcus and Ray, is the discipline to manage your risk well. |
