There has never been a shortcut in trading. You can't avoid any pitfalls; if you think you can bypass one, you might end up stuck halfway and unable to move forward.
Take stop-losses, for example. Who hasn't heard the saying, 'If you're wrong, cut your losses, don't hold on'? Everyone knows this phrase, but when it comes to real trading, 90% of traders find themselves thinking, 'I understand the theory, but my hands just won't listen.' The loss aversion ingrained in human nature is as if it's etched into our genes; seeing your account in deep red can make your finger hovering above the close button tremble—always thinking, 'Just hold on a bit longer; maybe the market will turn around,' like a gambler clinging to their last card.
What makes stop-losses difficult? It's not a one-time multiple-choice question; it's a series of hundreds of torturous decisions that short-term traders face every day. Have you ever experienced the feeling of suddenly reversing just when you're on the verge of profit? It's like being pulled back down by someone at the last moment before reaching the summit, knowing you should let go, but your fingertips are clinging desperately to the rock crevices. In such moments, even a single moment of hesitation could mean your account goes to zero.
When will you develop ironclad rules? It's not just a matter of attending a few classes or reading a few books; it's when you've lost real money and felt the pain of a margin call. The first time you blow your account, you might blame the market's unpredictability, but by the tenth time, you'll realize that the concept of stop-loss should have been ingrained in you long ago. Just like that tough character in the market known as 'Hawk Watching,' who lost for four years and blew accounts for four years, ultimately turning stop-loss into muscle memory—this isn't talent; it's a conditioned reflex built through real financial pain.
There are always those looking for tips on 'losing less money to cultivate a mindset,' but trading is just like what the older generation says: 'An apprentice must first break a bowl for three years.' Without experiencing the gut-wrenching pain of an account going to zero, where does the discipline come from? Those seemingly roundabout paths are actually the bricks leading to the finish line—missing even one brick won't give you the confidence to stand in the market.