Good evening everyone, I am Yixuan. The market has been very boring recently, so let me talk to you about the mentality of contracts.
First of all, I can tell you clearly that contracts can be played and make money, but there is a 28th law. 20% of people make money, and 80% lose money. Why do some people lose money and some people make money? The cryptocurrency world is not as simple as you think, and the same is true for contracts. If you don’t know anything and don’t understand anything, you come to make a deal. Who else will lose money? Imagine that you jump from one industry to another. Don’t you need to spend time and effort to make money? It’s a very simple truth, but some people can’t figure it out. Let me talk about another issue, mentality! Don’t think about coming to the cryptocurrency world to realize the dream of getting rich overnight. I have seen too many people who have gone to zero.
In fact, in the process of trading, no matter how good a trader is, it is impossible to achieve a 100% success rate. It is very likely to be 60%-40%. It is possible that your first four orders are all stop losses, and you don’t have the courage to continue trading. You don’t have a good mentality. If you lose money for several consecutive orders, you feel that the sky is falling, and then you operate recklessly. In the end, you will lose more and more, and you still don’t stop loss. This is a mentality problem.
Here are some suggestions for your mindset, hoping they will be helpful for your future trading journey:
Many people are afraid when they are stuck in a contract, because they are afraid that the price will continue to go in the opposite direction. If it continues to go in the opposite direction, they will panic and have no choice but to sell at a loss. However, the price will go up again after they sell at a loss. At this time, they will toss and turn in their hearts, which is really unpleasant.
What is fear? Most fears come from not understanding the unknown.
It's like when I was a kid, I was always afraid of ghosts in the dark alleys at night. Because I didn't know about their existence, I could only imagine the fear. If one day science can tell you that after death, some people go to heaven and some go into reincarnation, will you still be afraid of death? So I think the way to solve fear during trading is to expand your knowledge reserves, do a lot of learning, practice and practice. Really step into this market and experience the market, so that when facing emergencies, you will no longer feel fear and helplessness.
Greed is the foundation of human nature. Everyone has a greedy side, but whether you can control it reasonably determines how far you can go.
In my opinion, greed is the easiest and most difficult to solve. It is like a double-edged sword because it is essentially unrealistic. It is nothing more than a list that should have made money, but you don’t take action, and want to go further, but end up losing money. The most important thing is that everyone receives different opinions every day and is constantly brainwashed by the so-called "great gods", which makes it impossible for them to trade rationally.
The bigger your mindset, the bigger your goal. If you look too far ahead, you will be greedy. Make a reasonable profit and loss ratio that suits your own trading situation, leave the market when you reach your goal, make your own delivery, and defend your risk control strategy. Enjoy the pleasure of profit-taking in trading, rather than a higher "goal".
One day in the real world is like one year in the cryptocurrency world; the cryptocurrency world is like a casino, there is no winner after playing for a long time
Short-term, ultra-short-term, frequent intraday trading, these are very easy to make people addicted, the brain will be constantly stimulated, "this order makes money, the next order wants to continue; this order loses money, the next order wants to turn over." Keep doing it and keep making mistakes, even double it, all in#BTC
When you have this mentality, you keep opening positions and buying. Then I suggest you stay away from your computer, don't open your mobile trading software or stock-watching software, and do something else: go shopping or call friends to play games. Speaking of reading and fishing, many friends don't have the mind to do it at all. Those who can survive in this market often value execution and personal perseverance; ordinary people agree verbally, but never take action.
So I think if you want to say goodbye to this mentality and approach, you should do less and watch more, and don't just hold it for the medium and long term. Sell when you should sell, buy when you should buy. Floating profits are just characters, but floating losses are real. After completing each transaction, you should carefully review it and find out the mistakes, rather than continuing to all in for the next step.
I believe that what I mentioned above, as long as you are friends in this circle, you will have experienced it more or less. The reason why I can bring it up to you is because I have experienced every transaction and every market situation. You must admit your mistakes and stand at attention when you are beaten.
ps: If you want to try to change, you must take one step at a time, don't think about getting rich overnight, "lottery jackpots are tens of millions, how many people can win once in their lifetime", say goodbye to the influence of extreme emotions, be down-to-earth. The above are some suggestions that this article mainly shares with you. Pay attention to Yixuan Classroom for more trading experience and operation skills. If my sharing is helpful to you, please like + forward it.