1. Eager for success
When I was 20 years old, I often imagined that if I couldn't achieve anything before I turned 30, I might as well just jump off the building. In fact, I was still very poor when I was 30 years old.
In our 20s, we are ignorant, reckless, and full of ambition and ambition. This is good because it makes us fearless and dare to think and act. However, in the financial market, we are destined to experience a baptism of hardship and difficulty!
The more people are short of money, the more they want to make money faster. Financial markets generally provide leverage. Objectively speaking, leverage can indeed make a small investment for a big return, but 99% of investors fail to use it reasonably.
Once you make money through leverage, this short-term profit will strengthen investors' psychology (leverage is really good), and they will become more dependent on leverage. You can have countless 100% profits, but only one 100% liquidation will make you lose everything. A loss of 50% requires a 100% profit to recover the investment. What if the loss is 80%? You need a 400% profit to recover the investment. In fact, looking around the world, there are very few people who have become big and strong through leverage. In my 16-year career, I have not yet met anyone who has made a fortune through leverage. Unfortunately, most retail investors still like to use leverage.
It is very difficult to let go of leverage. Why? ❓Because the capital of retail investors is not large. If leverage can be used to expand the scale, wouldn't it be nice to become a fat man in one bite? I followed this wrong path for a full eight years, always staying in the same place. Then I changed my ways and completely gave up leverage, and then I gradually gained some accumulation. Of course, it is also inseparable from luck. Even Han Xin, without Xiao He's strong recommendation and Liu Bang's trust, would probably have only resented his talent for the rest of his life. However, before encountering an opportunity, we must prepare ourselves and cultivate good
The endurance to endure hardships
excellent judgment
Keen insight
The courage to fight to the bitter end
Peaceful and calm Buddhist mentality
And the wisdom of retreating from the current
In this way, when the next opportunity comes, it may belong to you. There are also those who don’t understand anything and make a lot of money when the bull market comes. However, the money they earn through luck will often be lost again in the bull and bear waves. Making a living by trading, the road is long and difficult, and you will survive a narrow escape. If you don’t have the original intention of not regretting it, you won’t do it!
