1. The Importance of Trading Expectations and Rules
Clarify that trading is based on expectations and operates according to rules. This is the core framework of trading, determining the basic logic and direction of trading, and related to the foundation for achieving profitability, such as how to enter and exit according to rules after forming expectations about various macro events (such as Federal Reserve policies) to gain an advantage in probability and risk-reward ratio.

2. Trading is Simple, but Human Nature is Complex
Recognize that although the essence of trading is simple, human weaknesses such as the pursuit of profit and avoidance of harm, as well as the desire for perfection, greatly influence trading decisions and outcomes. Understanding this helps to deeply realize that the greatest challenge faced in trading is not the trading techniques themselves, but overcoming human interference. This is the key to fundamentally understanding trading dilemmas and breakthrough directions.

3. Error Transmission and Response
In actual trading, incorrect handling may lead to serious consequences. Strictly adhering to rules to avoid error transmission is a key point for safeguarding capital and controlling risk, directly related to the survival or demise of trading accounts and the ability to survive in the market long-term.

4. Market is Unpredictable
Break the superstition of market prediction and understand that all technical tools are just aids, not magical predictors of the future. Avoid falling into erroneous cognition and behavior patterns due to blind pursuit of predictions, guiding traders to focus their energy on building reasonable trading systems and response strategies, rather than futilely predicting market trends.

5. Differences in Mindset Between Novices and Experienced Traders
Understand the different mindset characteristics of novices and experienced traders. Whether it is the greed of novices or the fear of experienced traders, both have significant impacts on trading. Novices can adjust their mindset to avoid impulsiveness, while experienced traders can try to overcome fear and reassess their trading, which helps traders at different stages adjust their psychological state.

6. The Mental State Difference Between Holding and Not Holding Positions
Realize the significant changes in psychological states when holding and not holding positions. Responding to changes in psychological pressure by reasonably adjusting position sizes and the difficulty of executing trading systems is an important part of optimizing the trading process and improving trading quality.

7. Short-term Trading Easily Leads to Loss
Clearly recognize the high risk of short-term trading. Data and practical experience show that frequent short-term operations easily lead to losses, allowing traders to have a clear understanding of trading frequency and guiding them to choose more suitable trading cycle strategies, avoiding falling into the pitfalls of short-term trading that lead to significant capital losses.

8. Short-term Profits Do Not Represent Success
Do not be misled by short-term profits. Understand that phase profits may only be due to luck or specific market conditions, prompting traders to deeply examine whether their trading strategies can be effective in the long term, avoiding excessive confidence and neglect of risks due to short-term success, thereby establishing a more robust trading philosophy.

9. Do Not Be Trapped by Profit as the Goal
Get rid of excessive obsession with existing theories (such as wave theory), and use trading knowledge and methods solely for profit orientation. This helps traders build a more flexible trading system that aligns better with their own situation and market realities, avoiding being constrained by traditional concepts and missing effective profit opportunities.

10. Greed Leads to Loss
Recognize the harm of greed in trading, reminding traders to focus on their own trading varieties and techniques, not to be swayed by numerous market temptations, and to avoid dispersing attention and blindly participating in various market conditions due to excessive greed, ultimately leading to trading failures and capital losses.