Why are there so few people who make money through trading? Because most people overestimate their own patience. The essence of trading is a game of waiting. Sufficient patience is more important than correct judgment.
As long as you firmly grasp this point, your trading career is destined to feel like you are on a roll, and no one can stop your profits. Unfortunately, most people come to this market with the mentality of getting rich overnight. They are burdened by mortgages and car loans, overwhelmed by life, disappointed with their circumstances, and even when they quit their jobs to start a business, it often ends in failure.
Ultimately, placing hope in the trading market, frequently entering trades. They feel triumphant when making money during favorable conditions, but when the market is not as good, they blame fate.
Successful traders maintain a long-term mindset, using 90% of their time to wait and 10% to act. They only take opportunities that meet their opening criteria and align with their trading system; otherwise, they continue to wait.
If you open a position well, profits will not run away. Imagine that after opening a position successfully, your account immediately shows a profit or breaks even; doesn’t your confidence increase instantly? But if you open a position too hastily and your account starts to show a loss, you might feel lucky and think you can withstand it, after all, you can afford it. At this moment, others might cut losses early or close profitable positions, while you are still holding on. In this process, not only do you lose your principal, but you may also miss the market trend, ultimately becoming like a frog in boiling water, with your funds being eaten away bit by bit until you are left with nothing after a margin call.
But waiting does not mean doing nothing; it is better not to enter the trading market at all. Waiting is just about seeking opportunities, patiently awaiting the moment they arrive.
Even trading master Livermore patiently waits for opportunities, why should you not learn to be patient?
However, the vast majority of traders do not want to wait and do not know what to wait for. They all want to come to this market to make big money quickly, eager to trade around the clock, seeing market fluctuations and feeling that there are opportunities everywhere. If they don’t jump in, they feel as though they have missed the chance to change their destiny. But once they enter, they get trapped, and feeling trapped leads them to think the market is unfair, complaining that the projects are trash and that they are being taken advantage of.
The market eliminates a group of people every few months; these people only cover up their mistakes with complaints. Only those who have experienced failure, reflected on and summarized their past inappropriate trading behaviors, can clearly identify their issues, understand that they should improve their knowledge through learning techniques, build a solid foundation, and be willing to spend time reviewing their trades, thereby establishing their trading system and ultimately achieving stable profits.
Successful traders do not achieve profits in one or two trades. They must have enough patience to wait for the right moment and maintain a patient attitude while holding positions. Only then can you await the season of bountiful harvest.
Finally, I advise you, betting on one out of ten is a loss; stay away from contracts and refuse high leverage. I hope everyone can earn what they want in their investments. Clear away all negative thoughts and re-evaluate the development prospects of the Filecoin ecosystem and your own positioning choices.
