6 contract skills, learning to turn things around is not a dream!
Recently I met an old senior who does contracts. He has made a fortune from 10,000 to 9 figures now. I really admire him. After repeatedly asking for advice, I summarized 6 practical skills. Now I share them with you. I suggest you collect them!
1. Control positions and win in a stable way
Not having time to study the market will affect your judgment, and not enough time to watch the market will make it easier to make mistakes. So you must learn to control your positions and the number of transactions, less is more.
2. Buffett is stable, Soros is flexible
Buffett's philosophy is to keep the principal is wealth, don't lose money. Soros is fast in and out, never against the trend. Especially in a bear market, the position is controlled within 20% to avoid being trapped.
3. Admit mistakes in time to avoid losing control
Losses are not terrible, but what is terrible is not knowing how to stop losses. Mistakes are inevitable, but the key is to admit mistakes in time and prevent losses from expanding. The sooner you correct the mistakes, the smaller the losses.
4. Decisive entry and proper execution
When the entry signal is clear, do not hesitate and execute the plan decisively. After careful consideration, you must act, and execution determines success or failure.
5. Stop profit and stop loss, refuse to procrastinate
The biggest problem of retail investors is that they hold on to losses and run away when they make a little profit. To avoid this kind of thinking, strictly set the stop profit and stop loss points, and do not let emotions influence operations.
6. Trend is king, do not love low prices
Don't blindly enter the market because the price is low, buy in the upward trend, and resolutely short in the downward trend. High and low prices are not the criteria for judgment, the trend is the key.
Master these skills, and you can move forward steadily on the road of trading!