"The market is always right; if you lose money, the problem must be with you." — Paul Tudor Jones
A few days ago, a VIP member contacted me privately and analyzed the long and short positions of Bitcoin and the related series of operations of $PEPE in depth.
This friend opened a lot of positions against the trend and has been losing money recently. I would like to send out the words to you:
1⃣️In the market, your enemy is not the market, but yourself.
2⃣️Successful trading is not about prediction, but about preparation.
3⃣️The most important part of trading is to control risks, not to control the market.
Don't be discouraged if you lose money in trading, and don't be arrogant if you make a profit. During the entire process of trading. It should be like what Sun Tzu said in the Art of War:
The method of using troops is that the poorer the country is, the farther the army is, the poorer the people will be.
——Protect your principal. The principal is the most important. The principal can keep us alive in this market, and being alive is better than most people.
Those who plan for victory before the battle have more to gain; those who plan for defeat before the battle have less to gain.
——Traders should make a detailed trading plan before entering the market, including entry and exit strategies, stop loss and stop profit levels, etc. If you think of the worst first, you will get good results, so that you can deal with it calmly even if the market situation changes.
Therefore, the army has no constant situation, and the water has no constant shape. Those who can win by changing the enemy are called gods.
——The market is dynamic, and both long and short have emotional cycles, and trading strategies should be adjusted accordingly. When the trend reverses and keeps breaking new highs, you should be bullish. When the market keeps falling and keeps breaking new lows, you should be bearish. Don't stick to one direction. You must learn to flexibly adjust your strategy according to market changes to win.