In these days of "gunfire", you must not be carried away. You see, I am here to warn you. You must remember the trading discipline of the currency circle:
1. Discipline to open a position Cause: impatient, afraid of missing opportunities Standardization:
1. Stop falling (no more new lows)
2. No action without golden cross
3. If there is panic, act decisively
2. Avoid greed and stabilize profits Cause: greed, greed is human nature Standardization:
1. Stop rising (no new highs)
2. Sell at dead cross
3. Clear positions after falling below the lifeline
3. Set stop loss and strict risk control Cause: unwilling to stop loss and admit mistakes, unsure of the entry price, thinking it is a light position, and unable to operate Standardization:
1. Technical stop loss
2. Discipline stop loss
3. Comprehensive stop loss
4. Set stop loss and protect profits Cause: Want to earn more without setting stop-profit, stop-profit position is not set well, think that position will be closed manually, and do not know how to operate standardization:
1. Technical stop-profit
2. Discipline stop-profit
3. Stop-profit to protect principal
V. Avoid chasing ups and downs Cause: No direction, no opinion, afraid of missing the market standardization:
1. Buy at low position
2. Sell at high position
3. Risk comes from rising
4. Opportunity comes from falling
VI. Get rid of fear and stabilize mentality Three major weaknesses of human nature:
Greed, fear, fear that others are greedy and I am afraid, others are afraid that I am corrupt
VII. Focus on understanding institutions, focus on trading currencies, tactics, energy, and time
VIII. Avoid full warehouses and all-in
Do you want to all-in?
When to all-in? 60% fixed trading funds, 40% reserve funds, never all-in
IX. Be self-disciplined and stabilize emotional trading
Mentality and emotional management are essential for traders, even if there is only second-rate technical analysis. Second-rate professional knowledge can also become a winner, follow the trend and never lose, follow the trend and execute to the end
