1: Let go of your emotional obsession and respect the market.
Trading starts with your entry decision and ends with your exit decision. Don't expect that trading will be like this or that. What you need to seek is a careful consideration of the facts, not a speculative one. You need to form your own trading decision-making system and have your own eyes to see the market. You need to have a certain insight into the market and preferably a certain foresight. When trading, don't believe in your inner thoughts. Follow the system and eliminate external interference. In short, respect the market, believe in the system, and believe in yourself. As a result, trading will become natural, making you feel relaxed and even enjoy trading.
Second: Make fewer assumptions, clarify stop-loss, try to effectively preserve the principal, experiment to find the big trend, and strive for big profits with small losses.
As traders, all we can do is to let the system tell us to place an order without hesitation when we reach the entry point. We cannot predict whether the market will rise or fall in the future, whether it is a bull market or a bear market. After placing an order, we can only control how much we lose, and we cannot control how far the market will go. So after building a position, we should first do a good job of tracking stop-loss and try to hold the position, patiently waiting for the exit signal. Once we exit, we patiently wait for the next entry signal, repeating this cycle. By repeating simple things to the extreme, we can have a successful and glorious life.
Third: Risk first, opportunity second; living long allows for longer earnings.
Profit is a product of risk, not a product of desire. Risk is always the first priority, it can be controlled and avoided but cannot be evaded, because any profit obtained comes with certain risks. As long as trading ideas are correct, we should be calm about the risks we should bear. Correct analysis and prediction is only the first step to successful investment; the foundation of successful investment requires strict risk management (position management and stop-loss management), rigorous self-psychological and emotional control (calm in honor and disgrace, unchanged in shock). Trading can only deepen our understanding through various trials and tribulations. The process of trading is like the process of a butterfly breaking out of its cocoon. In painful struggles, willpower is exercised, strength is enhanced, and mental acuity is improved, leading to the sublimation of life in pain.
Fourth: The cryptocurrency circle is an art of regret; accepting regret allows for perfection.
Trading is inherently flawed; do not always think about buying at the lowest point and selling at the highest point. Being able to capture your share of profit in every wave of market movement is what makes trading successful. Once you understand this part, the random fluctuations of the market will have less impact on you, allowing you to focus on your own profit portion without worrying about opportunities that are favorable but ungraspable, making your orders more decisive.
The market is fair; even if someone really makes more profit than you, the risks they face when bottom-fishing and top-selling must be much greater than yours. The head and tail of the fish are the most expensive!
Fifth: The experiences behind success are lonely, without the prosperity of shared joy!
Every excellent trader is destined to be lonely. Their trading system reflects their understanding of trading and the market, as well as a comprehensive manifestation of self-awareness, ideology, beliefs, philosophy, and personality. There are no identical leaves in the world, nor are there traders whose personality, cognition, and knowledge reserves are completely the same. Therefore, the owner of every successful trading system is destined to be unique. You can learn their essence, but you cannot simply repeat or imitate. There are no ultimate tricks in this market, only the eternal presence of human greed and fear like mountains.
Summary: Trading is not a science but a mechanical craft. As long as you practice repeatedly over a long time, you can profit from the market. This is a truly action-first, practice-first art. To achieve success, speculators must not only become giants of thought and knowledge but also giants of action. Skills and knowledge can be learned, and market experience can be accumulated, but it is more important for speculators to cultivate a mature mindset and be able to act quickly, which is a long and arduous process of cultivation and pursuit of understanding.
If you want to seize this bull market, learning on the spot will definitely be too late; it is best if someone can guide you to get started quickly.
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