For those who enjoy trading contracts and spot trading in waves, remember these tips to have a solid mindset in daily operations!
1. Trading contracts is about taking small risks for big rewards. Experiencing losses is normal, but after a stop loss, two types of people emerge: some will frantically open new positions, while others will enter a cooling-off period.
My advice is that if you frequently encounter stop losses, you should calm down, temporarily stop trading, and adjust your strategy!
2. Do not rush to succeed; trading is not a means to get rich overnight. When facing losses in trading, maintain a calm mindset, do not rush to open positions, and especially do not go all in with heavy positions.
3. It is important to recognize the overall trend. When you see a one-sided market on the chart, you should go with the trend and not trade against it. Going against the trend is the root of losses. Both beginners and veterans have the habit of trading against the trend. However, once a market trend is established, trading against it often leads to severe lessons from the market. Therefore, we must learn to go with the trend and patiently wait for opportunities to act.
4. You must maintain a good risk-reward ratio; otherwise, it will be hard to make money. Let profits be as large as possible compared to losses, and at least achieve a 2:1 ratio before considering opening a position.
5. Frequent trading is a major taboo in contracts. If you are not a trading expert, you must restrain the impulse to blindly open positions, especially for beginners who are full of enthusiasm for the market and want to seize every opportunity. However, most so-called opportunities will lead to losses.
6. Do not hold onto losing positions; it is a major taboo in contracts, especially for newcomers. You must set stop losses. Holding onto positions is the beginning of a downward spiral, so I remind you again: do not hold onto losing positions.
If you feel confused due to market fluctuations and do not know how to deal with being trapped, or if you feel misled during your operations.
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