21 Important Lessons Learned from 10 Years of Forex Trading

Focus: TRADING

Forex trader, Nikos Mermigas of Spartan Forex Trader Academy distills the wisdom and experience he gained after 10 years of trading into 21 lessons.

My name is Nikos and I have been trading the financial markets since 1999. That is 13 years now. I started with stocks and lost about 90% of my invested money within three years. In 2002, I started with forex trading. It took me about another two to three years before I started to make consistent profits. I learned the hard way and I still made a lot of mistakes, but at least I learned from these mistakes and my account was growing slowly but steadily. In order to help you guys with your personal trading I will share the 21 most important lessons I have learned that made me stay on the “bright” side.

Lesson 1: Do Your Research First
I started with trading in 1999 because suddenly everybody here seemed to make millions with stocks. But as I said, it only seemed that way. Most stories were pure fantasy and good marketing, it was not real. Of course some people made a lot of money, but only the guys that knew the game. Only real traders made profits, like always. I did not know that of course. I just listened to some friends, went to a broker, and spent a lot of money on some no name stocks. Of course I lost almost everything and that just because I didn’t have a clue about basic money management and how financial markets work. So, do your research before you invest even a penny and that brings us to…

Lesson 2: Never Listen to Amateurs
When I lost my hard earned money almost 13 years ago, I felt sick.