When I was studying, my mentor once told me two sentences:

1. You are too impatient

2. Your buying conditions are your selling conditions

After so many years, I am very grateful to my mentor, and I have always kept these two words in mind.

If your opening position is based on the trend, you must close the position when the trend ends; if your opening position is based on fundamentals, you must close the position if the fundamentals do not meet the standards.

I have been talking about opening and closing positions above, but I have never mentioned whether the criterion for closing a position is making money or losing money. Because it is all probabilistic, we need to split positions and manage funds because of the probability. People often say that they cannot hold on to profitable orders and are unwilling to close losing orders. This problem is immediately solved after splitting positions.

All of the above is not the essence of trading. We can learn to read the balance sheet, know that we need to have redundant liabilities, know that cash flow is as important to a company as blood, and know that supply and demand and emotions will resonate... But if the market is sluggish for two years and there is not much money to be made, can we bear it? I am afraid that if a single order does not make money for half a year, you can't bear it. If you want to make money, you have to bear it even if you can't bear it, until the cold bench becomes a hot bed that burns your buttocks.

Is patience the key? There are many people who endured the decline of PetroChina from 40 yuan to 4 yuan. If you can endure, you can make money. That's too easy. The same is true for the cryptocurrency market.

Give up, give up those unrealistic fantasies, give up those dreams of quick, good and cheap gains, give up the true meaning of trading... Give up, face the world steadily, and it will be yours.

So what is the true meaning of trading? Two words: steadfastness.

After writing so much, I'm sure you have also read the other answers to this question.

Since you can see so much, it means that most of you spectators still haven't got the true meaning of the so-called transaction. I heard a metaphor a few years ago:

People at the foot of the mountain have heard that there is a magical temple in the mountain that can satisfy all kinds of wishes, but few people have been there. Everyone wants to hear what the temple is like from people who have been there, but the answers are different. Some people talk about the flying eaves and painted buildings of the temple, some people talk about the elegant and simple feeling of the temple, some people talk about the towering ancient trees, and some people say that there is no temple at all...

In fact, this temple cannot satisfy any of your wishes, and those who are greedy to fulfill wishes cannot find it. When you don’t take it to heart, you are it, and it will still satisfy the wishes that you no longer have.