If you can defeat yourself, you can also increase your chances of winning in this market!

1. The foundation of trading psychological control - solid technology

All psychological fluctuations come from real-time fluctuations in the market and the impact of such fluctuations on trading results. Under this influence, your mind is frequently struggling, and many ideas about buying or selling pop up from time to time. It can be said that your ability to face and deal with the emotional impact of sudden large-volume rises or sudden sharp declines in the market will determine the quality of your trading, and the level of this ability depends first on the quality of your technical skills.

The drastic psychological fluctuations of the vast majority of failed traders are due to their lack of confidence in their own skills. Because they are not well-trained, they are unable to judge the situation in detail and accurately. As a result, they are easily dominated by emotions and make purchases and sales instead of basing their transactions on technical analysis. The logical relationship here is that trading technology often reflects the subjectivity of the trader, while trading psychology reflects the trader’s objective reaction to subjective technology and market changes; technology analyzes the market, the market determines the results, and the results affect psychology.

If you rush into trading without adequate technical preparation, your psychological burden is imaginable. Once your transaction fails, it will be a double blow to your psychology, and even make you slide into a vicious psychological cycle. If the market is compared to a battlefield, a trader is a soldier. If he is well-equipped with weapons, he will not be afraid of fighting. If he has no weapons or his weapons are very backward, he can only fight hand-to-hand with the enemy after he goes to the battlefield. What will be the result? You must know that the market we face is mysterious and changeable, with many traps. If you only rely on natural human nature to trade, then your hopes and fantasies will not only not help you, but will cause you to lose money again and again, and make you fall into confusion, fear, pessimism, anger, and even despair. If you have mastered sophisticated technology, the market will no longer be so profound to you. You will be very calm when facing the market. For the ever-changing market phenomena, you can always peek into its essential direction of change, and make a quick decision to win with one blow.

2. Means of trading psychological control - scientific training

An excellent trader's self-confidence, calmness, objectivity, composure, tenacity, perseverance, boldness and carefulness are not acquired overnight. They must be the result of long-term and planned training. Admittedly, psychological training is very difficult because it faces your nature, your stubborn psychological defects and psychological barriers. There is no better way except to persist in continuous efforts, constantly standardize your trading psychology, and test and improve it in actual operations.

Therefore, you must realize the importance of training, and act boldly and persistently, rather than passively doing nothing. You must be a person who can control your own behavior, and always regulate your behavior to the situation you want to achieve. You should also constantly summarize and comprehend, use rationality to control emotions, limit emotions to a limited range of fluctuations, so that you can always keep a clear head and have the ability to analyze calmly at all times - please forgive me for not being able to provide a better way to describe how to conduct psychological training. I think the improvement of psychological control depends entirely on your willpower and your determination. If you are very determined and your will is firm, you will definitely find a psychological training method that suits you, and improve and perfect it in actual operations, so that you have the ability to win the market.

Verifying your own views is the only way to increase trading confidence. Fear is the root cause of losses! When your body and mind are often in fear, your anger will appear! "Dare" to open a position and "have the confidence" to open a position are two different things

The way to curb fear is to know your fear line. How much loss you make in a transaction will make you feel less uneasy and fearful. The importance of stop loss is to reduce the speed of capital reduction and control losses! It is also a guardrail to prevent stepping into the area of ​​fear and anxiety! No one is good, no one will not lose money. Instead of comparing who earns more, it is better to compare who loses less!

The essence of technical analysis is to summarize the characteristics of market price fluctuations and describe the same thing from different angles. We can also summarize many characteristics by looking at the market ourselves, and we will eventually reach the same conclusion. However, by referring to the experience of our predecessors and standing on their shoulders, we can avoid detours. Because usually our "I think" may just be a prejudice.

The market has only one direction

It is not long or short, but the right direction. The purpose of entering the market is not to predict the market, but to earn the price difference of market fluctuations. You must remember that there is no secret in the core of trading. What you have is your own trading system, and then execute it without compromise. As the saying goes: If you have the way but no skills, you can still find the skills; if you have the skills but no way, you will only be at the skills.

Eight basic trading skills:

1. Reading, book classification, technical + trading psychology, you must learn to find the resonance points in the books!

2. When learning indicators, you don’t need to be familiar with all the indicators. Just learn a few that are easy to use. No indicator is perfect. Knowing the shortcomings of an indicator is far more important than knowing its advantages, so you can avoid pitfalls!

3. Enhance your understanding of the market. In the process, you will also increase your understanding of the fundamentals of trading products. There are two wrong understandings: it is easy to make money from trading, and you can make a lot of money from trading. This is the source of your ignoring of risks and your complacency. Trading always means exchanging risks for profits, which will never change!

4. Loss expectation. There are three points. What should I do if I lose money in trading? How much can I lose at most when opening a position? What should I do if I suffer consecutive losses? With expectations, when losses actually occur, my mentality will not collapse and my emotions will be under control!

5. Trading software. Study all its functions thoroughly before investing real money to avoid being in a rush afterwards!

6. Trading system, how to buy, how to sell, what to do if wrong, how to exit if right, trend confirmation, choice of entry position, whether there is psychological expectation for stop-profit and stop-loss, whether to set it according to technical aspects or psychological tolerance, allocation and management of position funds, the trading system belongs to you, don’t imitate others!

7. Fund management, seek balance. Balanced fund utilization can effectively reduce emotional changes and psychological pressure. The disadvantage is that profits are limited when being too conservative. It depends on the individual! Funds should be closely integrated with the trading system. It is better to be conservative than aggressive in the use of funds. It depends on the individual!

8. Reflection and summary, that is, review. No matter you make money or lose money today, you must review what you did right and what you did wrong, find out the gaps and fill them. Understanding yourself is more important than understanding the market!

He who conquers others is strong; he who conquers himself is mighty; he who conquers himself conquers the world!

I wish you all success and early return of your positions. #BTC #crypto2023 #原创