A necessary hurdle for a qualified trader!
If you can't pass these three essential hurdles in trading, you will never become a trading expert and will never achieve stable profits.
The first hurdle is the technical hurdle: You must solve the issues of entry points, exit points, and stop-loss. The three main points, whether you use candlesticks, moving averages, or various deep indicators, you must first understand the method. There is no high success rate for trading without a foundational learning approach.
The second hurdle is the stop-loss hurdle: The so-called stop-loss hurdle is about managing risk effectively. If you don't control your risk and come into this market, after a few trades, your capital will be gone, and then you won't be able to continue. Therefore, you must pass the stop-loss hurdle. In addition to setting it when opening a position, you also need to continuously adjust the stop-loss during the holding period according to market changes. If you can't do this, sooner or later, you will face a margin call.
The third hurdle is the mindset hurdle: Finding a very promising coin, with the potential for 5x or 10x returns, but if you take profits too early at a 10% gain, it's useless to regret later. Not being able to hold a position or lacking the courage to stay in the market are all mindset issues. Therefore, this mindset hurdle is extremely important; it’s about overcoming human greed—having the courage to place orders, to set stop-losses, to exit, and to have a broader perspective. Otherwise, you might lose what you already have.
Conclusion:
I have seen too many fans who take a little profit and then hold onto losses, or who can't control their hands and trade frequently. The trading market is not a safe that allows you to withdraw money every day. Everyone should calmly reflect on whether they can pass these three hurdles.