The Way of Trading—Six Core Principles:
1. Stay Calm: Trading is a marathon, not a sprint. Impatience can lead to blind operations and increase losses.
2. Go with the Trend: Do not fight the market, learn to wait, identify trends, and seize opportunities; going against the trend will ultimately fail.
3. Refuse Frequent Trading: Frequent operations increase costs and the probability of making mistakes; skilled traders know how to wait for big opportunities.
4. Face Losses Head-On: Losses are a normal part of trading. Top traders focus on cutting losses and risk control, rather than avoiding all losses.
5. Magnify Winning-to-Losing Ratio: Instead of focusing solely on win rates, pay more attention to opportunities with high potential and small losses, avoiding one loss wiping out multiple gains. $ETH
6. Only Earn Money Within Your Knowledge: Stick to your circle of competence, give up opportunities you do not understand, and enhance your knowledge to gain in your areas of expertise; participating in wrong opportunities is true failure.
