Profound insights! A compilation of 20 opinions from an A8 trader, each one a gem!
Opinion 1: If I am wrong, I must quickly exit. As the saying goes, 'As long as the green mountains remain, one need not fear the lack of firewood.' I must preserve my strength and make a comeback.
Opinion 2: The main reason some traders continuously incur losses is due to a lack of patience, which leads them to overlook trading principles and recklessly enter trades without waiting for clear market trends or conditions they can control.
Opinion 3: No matter when you face setbacks, it will be difficult to feel good. Most traders, after suffering significant losses, hope to recover immediately, which leads them to increase their trade sizes, thinking they can turn things around in one go. However, once you do this, you are destined to fail.
After suffering a blow, the correct approach is to immediately reduce your trading volume or stop trading. What you need is not to earn back your losses but to regain your confidence in trading.
Opinion 4: If market conditions that align with profitable trading principles are becoming increasingly rare, you must be patient and wait. When the market trend is completely opposite to your predictions, you should choose to exit.
Opinion 5: You must hold onto your good positions and reduce your bad ones. If you cannot stick with your good positions, how can you compensate for the losses from your bad ones?
Many profitable traders ultimately lose all their earnings because they lack the patience to hold onto profitable trades while unwilling to stop trading when losing.
Opinion 6: A common mistake many traders make is trading too frequently. They do not carefully select appropriate trading opportunities and feel compelled to trade whenever they see market fluctuations, which is forcing themselves into trades instead of patiently waiting for good opportunities.
Opinion 7: Skilled traders are profitable because they have done a lot of patient work before entering the market.
Many people, once they make a profit, start to take trading lightly, leading to frequent operations. The subsequent losses they incur can become overwhelming, resulting in substantial losses that can even wipe out their initial capital.
Opinion 8: The worst trades stem from impulse. The most destructive mistake in trading is excessive impulsiveness. Everyone should follow established trading signals and never hastily change trading strategies due to momentary impulses. Therefore, avoiding impulsiveness is the first element of risk control.
In trading, you must learn to control risks. You need to prepare for the worst-case scenario. Therefore, you must operate with small amounts, keeping each loss within 1% to 2% of your capital.
Opinion 9: In trading, learn to remain calm. Traders are like boxers; the market can hit hard at any moment. You must stay calm; when you suffer losses, it indicates that the situation is unfavorable. Don't rush; take your time.
You must minimize your losses and maintain your capital as much as possible. When you suffer significant losses, your emotions will be greatly affected, and you must reduce your trading size or stop trading altogether, taking time to consider your next trade.
Opinion 10: Whether you suffer large losses or make large profits, always maintain a calm mindset. Analyze every trade daily to check for any violations. Reflect on why good trades succeeded and critically assess what went wrong with bad trades. Therefore, if you want to consistently perform well, you must pay close attention to every trade.
Opinion 11: Most people know the principles of trading, but true experts are those who steadfastly execute these principles even during extreme market conditions.
Opinion 12: The reason skilled traders have a high profit rate is that they often fear the market. This fear compels them to carefully select their entry points. Most people do not wait for market clarity before entering; they often enter the forest at night, while the experts wait until dawn. They do not predict the direction of market movements before they occur but allow the market's movements to tell them the direction, choosing to attack only when the opportunity is certain, otherwise they abandon the trade.
Opinion 13: Trading strategies must be flexible to adapt to market changes. A common mistake among traders is to stick rigidly to their trading strategies, often complaining that the market is completely different from what they expected! But why should it be the same? Isn't life always full of uncertainties?
Opinion 14: Do not let the joy of profit cloud your judgment. Remember, the hardest thing in the world is to maintain consistent profits. Once you earn money, you will hope to earn even more, and in doing so, you may forget the risks and fail to question the validity of established trading principles. This is what leads to self-destruction. Therefore, you must always remain cautious; be very careful when losing money and even more cautious when making money.
Opinion 15: During the trading process, learn self-discipline and capital management. Try to relax while trading; if your positions are unfavorable, then exit; hold on if they are favorable. Your focus should be on how to reduce losses rather than how to make more money. When your trading situation is poor, reduce your size or stop trading. When your trading conditions improve, then increase your trading size, but never rush into trades when you cannot control the situation.
Opinion 16: When trading, learn to be anxious because success can come quickly and go just as fast. Setbacks often occur when you are feeling too self-satisfied. The speed at which things can be destroyed is far greater than the time it takes to build them. Some things may take ten years to build, but can be destroyed in one day. Therefore, strict self-discipline should always be maintained.
Opinion 17: Most people have a gambling mentality when trading, preferring to go all-in and out. Therefore, you must change this aspect of yourself. Throughout history, no one who operated with high leverage has succeeded without failure. You must keep each of your losses within 2%.
Opinion 18: 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 surfing to become a skilled surfer.
Opinion 19: Some people change their trading systems when they are losing money, while others do not believe in trading systems at all, often doubting the signals issued by the system and trading based on personal preferences. However, skilled traders always follow their trading systems; trading is not about seeking excitement but about achieving victory.
Opinion 20: True trading experts are not measured by how much they win in the short term, but by how long they can profit and how long they can survive!
Let's encourage each other!