A moment of enlightenment! A summary of 20 viewpoints from an A8 trader, each word is a gem!
Viewpoint one:
If I'm wrong, I need to escape quickly. As the saying goes, 'As long as the green mountains remain, there is no fear of firewood running out.' I must conserve my strength and come back stronger.
Viewpoint two:
The main reason some traders continuously lose money is their lack of patience, which leads them to ignore trading principles. They rush into trades without waiting for the market to clarify or for conditions they can control.
Viewpoint three:
No matter when you face setbacks, it can be very painful. Most traders hope to quickly recover after a significant loss, thus increasing their trading volume to recover losses in one go. However, doing this is destined to fail. After a setback, the right approach is to immediately reduce trading volume or stop trading altogether. What you need is not to earn back the losses, but to regain confidence in your trading.
Viewpoint four:
If profitable trading opportunities become increasingly rare, you must patiently wait. When the market moves in a direction completely opposite to your prediction, you should choose to exit.
Viewpoint five:
You must hold onto your good trades and reduce your bad trades. If you can't hold onto the good trades, how can you compensate for the losses from the bad ones? Many profitable traders end up giving back all their profits because they lack the patience to hold onto winning trades and are unwilling to stop trading when losing.
Viewpoint six:
Many traders commonly make the mistake of trading too frequently. They do not carefully select appropriate trading opportunities. When they see market fluctuations, they immediately want to trade, which forces them to trade rather than patiently wait for the right moment.
Viewpoint seven:
The reason top traders can profit is that they have done a lot of work patiently before entering trades. Many people, once they profit, become complacent and start trading more frequently. The subsequent losses can overwhelm them, leading to massive losses, even wiping out their capital.
Viewpoint eight:
The worst trades come from impulsiveness. The most destructive mistake in trading is being overly impulsive. Everyone should follow established trading signals and not rush to change strategies due to momentary impulses. Therefore, avoiding impulsiveness is the first element of risk control. In trading, you must learn to manage risks and prepare for the worst-case scenarios. Thus, you must operate in small volumes, keeping each loss between 1% and 2% of your capital.
Viewpoint nine:
In trading, learn to stay calm. Traders are like boxers; the market can hit you hard at any time. You must remain calm. When you are losing, it indicates that the situation is against you. Don’t rush; take your time. You must minimize losses and maintain your capital as much as possible. When you suffer significant losses, your emotions will definitely be impacted. You must reduce your volume or stop trading altogether, and take some time to consider your next trade.
Viewpoint ten:
Whether you suffer a big loss or make a big profit, you must remain calm. Analyze each trade daily to see if any rules were violated. Reflect on why successful trades worked and critically assess the failures to identify the root issues. To consistently perform well, you must pay attention to every trade.
Viewpoint eleven:
Most people know trading principles, but true experts are those who firmly execute these principles even when the market sees extreme conditions.
Viewpoint twelve:
The reason experts have a high profit rate is that they often fear the market. This fear compels them to carefully choose their entry points. Most people do not wait for the market to clarify before entering; they often venture into the forest at night, while experts wait until daylight. They do not predict the direction of market movements before they occur, but let the market movements inform them of the trend direction. They only engage when they find the perfect opportunity or they abandon it.
Viewpoint thirteen:
Trading strategies must be flexible to adapt to market changes. A common mistake many traders make is sticking to a static strategy. They often complain that the market is completely different from what they expected! But why should it be the same? Isn't life always full of uncertainties?
Viewpoint fourteen:
Do not let the joy of profit cloud your judgment. Remember, the hardest thing in the world is how to sustain profits. Once you make money, you will want to make even more, and in doing so, you will forget about risks and fail to question the correctness of established trading principles. This is the reason for self-destruction. Therefore, you must always remain cautious; be very careful when losing money and even more careful when making money.
Viewpoint fifteen:
During trading, learn to practice self-restraint and capital management. Try to relax during operations. If your position is unfavorable, exit; if favorable, hold. Focus on how to reduce losses, not on how to make more money. When trading conditions are poor, reduce your volume or stop trading. When conditions improve, increase your trading volume, but never rush into trades you cannot control.
Viewpoint sixteen:
When trading, learn to be on edge because success in this field can come quickly and go just as fast. Setbacks often occur when you are feeling overly confident. Anything can be destroyed much faster than it was built. Some things take ten years to build but can be destroyed in a day. Therefore, you should maintain strict self-discipline at all times.
Viewpoint seventeen:
Most people have a mindset of wanting to make quick profits in trading, often taking large positions. Therefore, you must change this mindset. Throughout history, those who trade with large positions have all faced failure. You must control each loss to within 2%.
Viewpoint eighteen:
Trading based on charts is like surfing. You don't need to know the reasons for the waves' ups and downs; you just need to feel the rhythm of the waves and master the timing of your surfing to become a surfing expert.
Viewpoint nineteen:
Some people change their trading systems when they are losing money, while others do not believe in trading systems at all, doubting the signals sent by the systems. This leads them to trade based on personal preference rather than following a system. Experts always adhere to their trading systems. Trading is not about seeking thrills but about achieving victories.
Viewpoint twenty:
True trading experts are not competing on how much they can profit in the short term, but on how long they can keep earning and how long they can last! Let's encourage each other!
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