Recently, I lost all my savings. I shared my personal experience in the square and got scolded badly by netizens. After three years of being beaten up in the contract market, my current mindset is very good, and my ability to withstand pressure is strong. I carefully read every netizen's comments, which can be roughly divided into the following types, each of which has helped me a lot. It seems that we should communicate more.
The first type: too greedy; you deserve it!
A few simple words felt like a slap in the face. Yes, it was greed; greed made me lose everything! Because I was anxious to make money due to lack of funds, I always pulled the leverage very high and the position very large, thinking that only in this way could I make money quickly. Looking back now, these did not help me make money quickly; instead, they accelerated the speed at which my funds went to zero. Can high leverage and large positions make money quickly? I thought about it, and the answer is yes, but it can also lead to quick losses because trading does not have a 100% probability. So even if you got it right the first few times, just one mistake will wipe out your position. This is a simple principle. The reason for not controlling the position when trading is that greed takes over, throwing all risks out of mind, forgetting what happens if this trade goes wrong, completely ignoring risk control. Therefore, going to zero is inevitable, and the money earned will also be taken away, leaving only the experience of the thrill of contracts. So to avoid going to zero, you must control the position, which is essential; otherwise, you cannot trade well. Don't always think about doubling your money quickly; it's impossible. You can only trade small positions one by one. This way, even if you make a mistake, you still have a chance to start over, improving your win rate and profit-loss ratio. If you earn 5%-10% each time, with a long-term compound interest, I roughly calculated that if the profit-loss ratio is 1:2, stop-loss is 5%, and win rate is 60%, even 100 trades can multiply by 40 times. I didn't expect it to be so much before the calculation. Therefore, to make money quickly, it is not about gambling with high leverage and large positions, but about improving the win rate and the profit-loss ratio, compounding one trade at a time. If it weren't for being criticized, I wouldn't have thought so much. In fact, I should thank those who scolded me.
The second type: you are too inexperienced; people without skills will end up like this!
I have been playing for three years, and you actually say I have no skills? I am really angry! But when I calmed down, I thought carefully: do I really have skills? Are the skills I learned useful? I started to seriously reflect on myself, going through all the technical theories I learned in the past, thinking carefully about whether each method helps my trading. I summarized all the useful methods for trading and deleted everything that didn't help, reorganizing my trading methods. I believe my current trading methods should be much better than before. Thanks to those who scolded me, I have made progress.
The third type: I am like you; I have also lost a lot.
I believe there are many people like me because this is a zero-sum game market. If someone makes money, someone else must lose, and there are many newcomers like me who have just entered the market and have been beaten up by it, leaving them bruised and battered! I want to say, brother, if you haven't lost money yet, don't play for now; make some money outside first because most people come in to lose money and provide profits for the market. If you think you are really good and can conquer the market, then in the end, you will definitely end up like me. I advise you to stop early. If you are already in debt like me, I encourage you to never give up because once you give up, you will lose your fighting spirit, burden your family, and drag many people down. You should ignite your fighting spirit and think carefully about how to make money. You can earn money through physical labor or mental work, but definitely do not give up. I post here to find like-minded people, and I will turn all my technical experiences into courses to share with those in need. If recognized, it can also help me solve some debts. You can do the same, believe in yourself, and work hard together to overcome difficulties. We must win!
The fourth type: traders who give me sincere advice.
I saw many people sharing their trading experiences with me, and I was really moved. I carefully read your shares and benefited greatly. Although most of it is content I have already learned, when mentioned again by you, it makes me rethink and collide with your methods, allowing me to review my trading history. Indeed, I found many issues that I did not execute properly according to the rules, such as strict stop-loss, strict partial take-profit, careful position calculation, and serious technical analysis. I realized that I am really not a qualified trader. To put it nicely, I am trading; to put it bluntly, what I am doing is gambling. As a netizen said, 'You might as well gamble with your eyes closed.' That's too true; I am just messing around; I deserve to lose money! I did not execute trading rules seriously!
Finally, thank you all! By sharing here, I have gotten to know you. You have helped me gain a clearer understanding of myself. I still have a long way to go to succeed in trading. I should refine my trading skills, work hard to improve my win rate, adhere to low leverage and small positions, execute rules seriously, enforce strict stop-loss, earn only 5% slowly through compound interest. Only in this way will the final result be good, rather than gambling with large positions and high leverage.