A 'pitfall guide' for those wanting to enter the industry

Don’t rush to place orders or go all in! Trading is not something you can just pick up and eat. Today, let’s take off the filter and talk about who is really suitable for long-term work in this industry, and what two 'hard constraints' you need to meet first.

One, personality ≠ a get-out-of-jail-free card
The most common saying online: Impulsive people need not apply; only steady individuals can achieve greatness.
But experienced traders know that the market is specialized in dealing with all sorts of disobedience. Regardless of whether you are a fire sign or a water sign, when the market fluctuates, emotions will be hit hard. The so-called 'calm as water' is not an innate personality, but rather a 'callus' forged through repeated hammering by the market. So stop using personality as a threshold; it’s at most a bonus, not a ticket to entry.

Two, two hardcore filters

  1. Time: At least one year of 'full-time practice'
    • From a blank slate to stable profitability, it takes at least 12 to 18 months.
    • During these 12 months, you have to watch the market, review trades, and keep a trading journal as closely as you would watch a child.
    • Learning a bit after work and making a couple of trades on the weekend? That's fine, but don't expect to squeeze into the top 10% with just that effort.
    People with flexible time are more sought after: university students, graduate students, freelancers, remote workers, and stay-at-home spouses who can manage their own time.

  2. Financial situation: First solve the 'food problem'
    • If you are counting on next month's profits to pay rent, then every loss will feel like a mental blow.
    • In a hurry to make up for losses and want to get rich overnight? The market will first teach you some lessons.
    • Ideal situation: outside your trading account, have a safety cushion of more than 12 months' living expenses. This way, you can slowly 'pay tuition' instead of being forced to jump off the building due to a margin call.

Three, create conditions if you don't have them
No time?
→ First cut out ineffective socializing, switch to a remote or part-time job, and free up some time.
Not enough money?
→ First save a safety net: save money, take on freelance work, start a side business, and stabilize your cash flow.
Remember, it's not about 'quitting all in' but treating trading as a 'startup' that requires upfront investment.

Four, three pieces of advice for those wanting to enter the industry

  1. Trading is a marathon, not a sprint.

  2. First learn not to lose money, then talk about making money.

  3. Once you stabilize these two bridges of time and cash flow, you will truly stand at the market's doorstep.

Wishing you get your entry ticket soon, and not become the next batch of fresh chives.