What is your trading mindset for profit?
The essence of trading is: cut losses when wrong, hold on when right, small losses and big gains, make big profits and losses. Specifically, for each core aspect:
Follow the trend: find a simple moving average to divide long and short positions; buy only above it, sell only below it.
Opening a position, testing a position: act in accordance with the trend, follow the big trend and counter the small trend. When entering the market, consider a potential sufficiently large risk-reward ratio; if entering at this position, if wrong, the stop loss is small, but if right, the profit is large, usually at the bottom of the trend or the early stage of the trend.
Opening a position, stop loss: if a key point is broken, you must stop loss; no room for luck. If the price returns, you can look for another opportunity to enter. Do not have a lucky mindset, thinking that you might be able to hold on a bit or to average down losses.
Adding position: add positions on floating profits; adding positions is the key to making big money. After the price rises as expected, wait for a pullback at a support level or a breakthrough of the previous high to add positions, following the big trend and countering the small trend.
After adding positions, there must be a stop loss point, moving to the new key point. The base position is already safe, leaving only the stop loss risk of the added position. If it fails, stop loss the added position and wait for the next opportunity. If it continues to rise, firmly hold the position, continue to wait for a pullback to add positions, and keep moving the stop loss. Until the last move is stopped out or a head signal to take profit appears.
Take profit: never easily take profit at any time; this is the key to making big money. Exiting can be in batches or all at once, preferably all at once, because you can require yourself to wait for the highest probability head signal. If it is right-side trading, floating profits will definitely pull back; you must accept this mentally. Do not think about selling at the highest point, or thinking that since you did not sell at the highest point, you must wait to sell at the highest point.
As long as you can master and follow these principles in practice, and maintain discipline and consistency, you will find that making money is a natural thing.
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