In the world of trading, ten years of silent cultivation goes unnoticed, but one day of enlightenment makes one known to all. To become a top trader, the following five iron rules must be remembered:

1. Preserve capital, survival comes first

In the market, the primary goal is to protect capital. As Warren Buffett said, "The first rule is, never lose all your money. The second rule is, never forget the first rule." Only by preserving capital can one survive in the market long-term and seize more opportunities.

2. Stable small profits, reject greed

Greed is the arch-enemy of traders. Martin Schwartz emphasized, "Learn to accept losses. To be profitable, the most important prerequisite is not to let losses exceed your tolerance." Steady profits, accumulating small gains, can help one remain undefeated in the market.

3. Focus on the mainstream, follow the trend

Concentrate on mainstream assets in the market and operate in accordance with the trend. George Soros pointed out, "The market is always in a state of eternal change and uncertainty; a too obvious trend may be an illusion. Trade those unexpected market movements, so you can make a profit." Following the trend can yield greater results with less effort.

4. Control position size, avoid frequent trading

Operate with light positions and reduce unnecessary trades. Paul Tudor Jones reminded, "If the market is against me, I exit immediately. If it is favorable, I hold on… Risk control is the most important aspect of trading." Patiently wait for the best opportunity and avoid the risks brought by overtrading.

5. Do not rush to buy, sell decisively, strictly set stop-losses

Be cautious when entering, decisive when exiting, and do not delay stop-losses. William O'Neil warned, "Allowing losses to continue to expand is the most serious mistake most investors make." Follow discipline, set clear stop-loss points, and you can move steadily in the market.

Remember these five iron rules, persistently apply them, and you will ultimately achieve success and become a leader in the trading world.

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