The market is like the primitive forests of Africa. The most important thing is to survive. The principle of technical analysis is to keep it simple, so simple that you don't need to use your brain. Don't be superstitious about complex technical analysis. Have confidence in the system you set up, instead of relying on personal emotions, prejudices or wishful thinking to surpass and improve it. The system you are going to use must be tested by time and actual combat.
You must be patient and wait for the operation signal from the system outside the market. Once you have established a position, you must have the same patience to hold the position until the system sends a reversal signal. You must strictly abide by the principles and operate according to the signals indicated by the system. Only when the market shows a strong trend, do you let go and enter the market. When you judge the trend wrong, you should immediately cut the position and exit. When the trend analysis is correct, you should pyramid. Money is earned by "sitting", not by operation. Only when you use objective methods to judge the trend reversal can you close the position. How to kill the boring time of long-term holding is also the key to whether you can hold a position for a long time. If necessary, you can use the "ostrich policy" to avoid the nervousness caused by the most violent market fluctuations in the middle of the big market.
The risk and return included in the price is a possibility, not something that can be achieved absolutely. We can use technical tools to determine the probability of this possibility, but we cannot say that it will definitely happen, which is why we need to stop loss.
You can only trade your view of the market. Once a person predicts things, vanity will be reflected, making it difficult for him to accept anything that is different from his prediction during the trading process. However, the real wealth is achieved through smart exits, because it allows traders to stop losses and roll profits. In short, people make money by discovering themselves, realizing their potential, and keeping pace with the market.
When a rebound or consolidation occurs, people begin to become hesitant, and most transactions become chaotic. Short-term attacks begin to appear frequently, and long and short positions frequently change hands. Not only the direction is lost, but also the self is lost. This self is the belief and its trading system!
This kind of confusion will eventually prevent traders from going further. As long as you trade according to the signals and follow the rules, you will find that trading is not that difficult. Stick to one approach, study it thoroughly, control your mentality, and you will succeed.
Most investors don't realize that there are only a few days each month when you can make big money. The rest of the time, if you don't get into trouble, you're doing your job. Remember to always keep your account intact and wait for the big move to come.
Trading is like commanding an army. If you are 50% sure, you won’t fight. If you are 70% sure, you won’t fight either. You have to wait until you are 100% sure before you attack with all your strength. However, wars are changing rapidly. How can you be 100% sure? Technical analysis is the behavioral discipline of traders, not mainly for prediction.
It helps you identify trends and follow them. Go where you have to go and stop where you have to stop. In a strong market, the buying point in the technical indicators is accurate, but the selling point is not; in a weak market, the selling point in the technical indicators is accurate, but the buying point is not. "Following the trend" positions may have great profits, so don't "abandon the ship" easily. In this process, there may be many temptations to tempt you to see some small fluctuations and rush to go against the trend. Unless you are familiar with this and set a stop loss point, don't enter and exit at will. People make judgments based on the ups and downs of prices when investing, but if people's hearts fluctuate faster and more than prices, they lose the most precious concentration, so it is easy to deviate from the judgment of trends, and of course it is easier to overturn their established investment plans again and again, and fall into the dilemma of chasing ups and downs.
To put it bluntly, playing in the cryptocurrency circle is a contest between retail investors and bankers. If you don’t have cutting-edge news and first-hand information, you will only be cut!
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Important things should be said three times!!!
