Three hurdles that a qualified trader must pass!
If you can't pass the three essential hurdles of trading, you can never become an expert trader, nor can you achieve stable profits.
The first hurdle is the technical hurdle: You must solve the issues of entry points, exit points, and stop-loss. Regardless of whether you use candlesticks, moving averages, or various deep indicators, you must first understand the methods. There is no high success rate in trading without learning and having a foundation.
The second hurdle is the stop-loss hurdle: The so-called stop-loss hurdle is about managing risk. If you don't manage your risks well, you may lose your capital after a few trades in this market, and then you can't continue. Therefore, you must pass the stop-loss hurdle. Besides opening a position, you also need to constantly adjust your stop-loss based on market changes during the holding period. If you can't do this, you will eventually face a margin call.
The third hurdle is the mindset hurdle: Finding an amazing coin, a stock with 5x or 10x potential, but then taking profits after a 10% gain halfway through is of no use. Regretting and slapping your thigh won't help. Not being able to hold onto a position or being afraid to hold is all a matter of mindset. Therefore, this mindset hurdle is extremely important; it’s about dealing with human greed: having the courage to place orders, set stop-losses, exit, and have a vision. Otherwise, a cooked duck will really fly away.
Conclusion:
I have seen too many fans who take a small profit and leave, while those who can't control their hands keep trading frequently. The trading market is not a safe that allows you to take money every day. Everyone should calmly reflect on whether they can pass these three hurdles.