To succeed in trading, you need to have certain qualities. Without these qualities, you will struggle to make progress. These qualities include: discipline, the ability to withstand risk, and sensitivity to numbers.
A gluttonous person who indulges in smoking and drinking all day cannot become a good trader because they lack discipline; a penny-pinching miser also finds it difficult to bear market risks; someone who knows nothing about numbers and only daydreams will inevitably incur losses when prices change rapidly.
In addition to discipline, the ability to withstand risk, and sensitivity to numbers, a successful trader also needs to possess the 3 M’s: Mind, Method, and Money.
Mind means forming your own psychological rules and being able to maintain a calm mind in a noisy market;
Method means developing a price analysis system and a trading program (decision tree) for decision-making;
Money refers to capital management, which means that in any trade, you should only risk a small portion of your own capital.
Imagine a submarine isolated with many sealed compartments; when one compartment takes on water, the entire submarine does not sink — you must build your trading account in this way.
Trading psychology, trading strategies, and capital management are skills that can be mastered through learning.
