Establish a trading system
As a trader, you must have the idea of systematic trading, and the basis for buying and selling must be very clear.
The elements of the trading system:
1. What to buy?
2. When to buy?
3. How much to buy?
4. When to sell?--Stop loss, stop profit, target price
5. The basis for buying and selling?
6. What are the defects of the system? How to improve the system?
Many people think that their trading system is flawless. I think that the biggest flaw is that there are no defects. There are always loopholes in the trading system. You must understand the loopholes of your trading system and know how much trouble the loopholes will bring to you. Be mentally prepared, otherwise you will be at a loss when the incident occurs, resulting in a big loss. It is precisely because of the existence of defects that traders are more respectful of the market and move forward more steadily.
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