People in the crypto world may increase their value by 50 to 100 times overnight, or they may instantly go to zero and have nothing.
Playing contracts in the crypto world is like playing with your heartbeat, thrilling and more exciting than a roller coaster.
Have you experienced consecutive losses and frequent liquidations?
Then you feel frustrated and regret your decisions?
Are you eagerly trying to recover losses, but instead falling deeper?
Do you repeatedly fantasize about the scenes after success, only to be slapped in the face by reality?
This is something every trader has experienced, and you and I are no exception!
The difference is that some have given up under such torment, some have lost all their capital, and very few have persisted. But what is the meaning of persistence without a complete awakening?
I have watched countless tutorials, learned a lot from many traders' summaries, and analyzed numerous reasons for failure! I summarized the following points, which I believe can help you:
1. Mindset and emotional management
Mindset and emotional management do not mean you cannot be happy when you profit or cannot be frustrated when you lose; do not be an emotionless robot!
It is about first firmly believing in your success, believing that the current losses are only temporary, and truly establishing a positive belief system. Secondly, when losses occur, it is crucial to remain rational and calm, avoiding blind orders, being able to correctly analyze, and operate rationally!
2. A continuously improving trading system
Remember, trading is not gambling, but it does have probabilistic attributes. You must continuously summarize and explore a trading system suitable for yourself in long-term trading. Specifically, establish your own trading rules in various dimensions such as indicator analysis, position sizing, take profit and stop loss, and long and short cycles, to restrain yourself and determine your trading instead of being blind; otherwise, you will fall into an unlimited dead cycle!
3. Capital management
There is a saying: 'As long as the green mountains remain, one need not worry about firewood.' You must not have a mentality of going all in; this is very dangerous. Because once you have this thought, in most cases, the market will fulfill you and make you completely lose heart! You must strictly control this, summarize your maximum consecutive losses to manage your funds, and ensure you have a chance for recovery. This requires extreme calmness; only when you have chips left do you have a chance for rebirth!
4. Technical analysis
This is very important. If you have no skills at all, then you must not place orders, because that is gambling on luck, and you will definitely fail; this is very scary! The learning of technical indicators is a gradual improvement process, but once you overly rely on various indicators for your judgments, you often find yourself entangled in thoughts, making frequent mistakes, and then doubting the technology. It is crucial to find what suits you among so many indicators and simplify complexity. Commonly used naked candlestick patterns, Bollinger Bands, moving averages, MACD, volume bars, OBV, etc., are essential to grasp the inner essence of simplicity!
1. Yi Xiu has been navigating the market for many years, deeply understanding the opportunities and traps within. If your investment is not going well and you are unwilling to accept losses, you can contact Yi Xiu.
Comment section 111
Impermanence
Impermanence
