From now on you have to learn
How to build a complete trading system
1. Create a bug list
Taboos: 1. Revenge trading 2. Forced trading (I feel itchy if I don’t open a trade) 3. Too large a position Create an error list: Every transaction must be logged. Profits can be omitted, but mistakes must be reviewed. Use a notebook to record each transaction, so that you can be more rational and reduce trading emotions
2. Establish key price technical table
Taboo: 1. Buy at will 2. Miss the key price to buy Establish key price technical list: Example: Intraday trading key trading selection
Method 1: Trend breakthrough + Fibonacci + double top pattern and consistent with the trend of the 3-level chart, point selection
3. Establish high-quality order identification
Taboos: 1. Intervene when the technical pattern is almost there 2. Intervene when the pattern is uncertain Establish a multi-currency observation table: The K-line of each trading product is different and needs to be adjusted to identify the high-quality order pattern of each trading product
4. Establish a strategy library
Taboos: 1. Use the new technology you learn in real trading immediately (real trading is dominated by emotions) to build a strategy library: use trdingview to backtest each learned technology at least 50 times, record the ones that suit you, and record the pattern and reasons for failure in detail
5. Risk Management
Taboos: 1. No position management + plan 2. No stop loss/win position management plan:
1. Spot accounts and contract accounts are divided into two exchanges to effectively control the top
2. Each order is controlled within 5% of the contract position, and each position is opened. After confirming the effectiveness of the indicator, the position can be rolled over
3. Leverage is based on a coin’s:
Determined by RSI (true volatility) + quality level + time level + principal size. No more than 10 times
4. Each order must have a stop loss/stop profit setting (stop loss must be learned separately)
Strictly control positions and make parallel plans
6. Personal body management
Taboos: 1. No exercise 2. Working in isolation 3. Opening orders when in poor condition
1. A trader’s self-discipline comes from his self-discipline in life
2. Exercise can keep your mind clear
3. High-quality sleep
4. Chat with friends who do trading every week and share experiences
Finish
All fear/FOMO comes from the unknown (assuming you go back to buy BTC 10 years ago, you would not be afraid even if it dropped 99% in the middle, because you saw it and you believed it) Systematic learning can help you overcome fear with growth
If you suffered losses because you didn’t meet me in the early stage, that would be a disaster; but if you don’t come to me after seeing my words now, that would be your fate!
