【August-September】Trading philosophy: Don’t die
1. Position management, the bottom line principle of opening an order is no liquidation price
2. Do not believe in any indicators, and have no long-term faith in any currency
3. No obvious long-short position, but never short short
4. Pursue stable small compound interest, not short-term capital growth
5. Trading bands, trading fluctuations
6. No stop loss, hate stop loss, but will stop profit at any time
7. Open to resist orders, there is no difference in feeling between resisting orders for a few days and resisting orders for a few months
8. No emotional trading, preferring soaring or plummeting markets
9. Open a position and do up to 2 positions at the same time
10. Do not calculate profits, do not calculate losses, and do not set expectations
11. Only care about settlement profit growth, not floating profits and losses
12. Pay attention to the selection of benchmarks, and only trade large-amplitude currencies that are continuously highly active. This is above all trading logic. The only risk of possible losses is the collapse of the target itself.
13. Find a trading method that suits you. Currently, you are doing hedging and locking transactions to ensure that there are trading profit opportunities in both rising and falling prices.
14. You must constantly correct the concept of principal and profit. Your memory only lasts for one month. For example, if the initial principal is 2WU: if you earn 1WU in the first month, then your principal will be 3WU from the second month. Forget your initial 2WU. Every penny you lose next is principal. Don't comfort yourself that you still have 1WU of profit; if you lose 1WU in the first month, then your principal will be 1WU from the second month. Don't think about the 1WU you lost, and don't think that you had 2WU before.
Some people think that resisting orders and being trapped is a waste of time cost. Think about it, the cheapest resource left for people is time. For trading, everyone's time is almost the same, and it's all gambling. It makes your time cost very precious. Obviously, you can't die, so you cut yourself first, in the name of being free to do new orders, but you may just change a place to die faster. Of course, there are indeed some opportunities to turn things around by stopping losses and transferring new opportunities, but if you don’t have the courage and wisdom, don’t try it easily.
Most people make profits by lying down
A few people make profits by struggling
Understand yourself and choose the right direction
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