1: Let go of your emotional obsession and respect the market.
Trading starts with your entry decision and ends with your exit decision. Don't expect that trading will be like this or that. What you need to seek is a careful consideration of the facts, not a speculative one. You need to form your own trading decision-making system and have your own eyes to see the market. You need to have a certain insight into the market and preferably a certain foresight. When trading, don't believe in your inner thoughts. Follow the system and eliminate external interference. In short, respect the market, believe in the system, and believe in yourself. As a result, trading will become natural, making you feel relaxed and even enjoy trading.
2. Make fewer assumptions, set clear stop losses, try to effectively protect your principal, try and find the big trends, and strive to make big profits and small losses.
As traders, what we can do is to place orders without hesitation when the system tells us that we have reached the entry point. We cannot predict whether the market will rise or fall in the future, whether it is a bull market or a bear market. After placing an order, we can only control how much we lose, but we cannot control how far the market will go. Therefore, after opening a position, we should first do a good job of tracking the stop loss, try to hold the order, and patiently wait for the exit signal. Once you exit, patiently wait for the next entry signal, repeat the cycle over and over again, and repeat simple things to the extreme, and we can have a successful and brilliant life.
Three: Risk comes first, opportunity comes second. The longer you live, the longer you can earn.
Profit is the product of risk rather than desire. Risk is always the first priority. It can be controlled and avoided by oneself, but it cannot be avoided, because any profit is a return that can only be obtained by taking certain risks. As long as the trading idea is correct, we should be calm about the risks we should take. Correct analysis and prediction is only the first step to successful investment. The foundation of successful investment requires strict risk management (position management and stop loss management), rigorous self-psychological and emotional control (not surprised by praise or criticism, and not changed by surprise). Only by experiencing various tortures can the depth of perception be increased. The process of trading is like the process of a butterfly breaking out of its cocoon. In the painful struggle, the will is exercised, the strength is strengthened, the mind is improved, and life is sublimated in pain.
4: The cryptocurrency world is the art of regret. Only by accepting regret can you achieve perfection.
Trading is flawed. Don't always think about buying at the lowest point and selling at the highest point. If you can get your share of profit in each wave of market trends, the transaction is successful. If you understand this part, the random fluctuations of the market will have little impact on you. You can focus on your profit and don't have to pay attention to those opportunities that are beneficial to you but cannot be grasped. This will make you more decisive in placing orders.
The market is fair. Even if someone really makes more profit than you, the risk they face in buying at the bottom and selling at the top must be much greater than yours. The head and tail of the fish are the most expensive!
5: The experience behind success is all loneliness, there is no prosperity to share with others!
Every excellent trader is destined to be lonely. His trading system is a comprehensive reflection of his understanding of trading and the market, his own understanding, and also reflects his ideas, beliefs, philosophy and personality. There are no identical leaves in the world, nor are there traders with exactly the same personality, cognition and knowledge reserves. Therefore, the owner of every successful trading system is destined to be unique. You can learn his essence, but you cannot simply repeat and imitate. There is no ultimate trick in this market, only the greed and fear of human nature that exist forever like mountains.
Summary: Trading is not a science, but a mechanical craft. As long as you practice repeatedly for a long time, you can make profits from the market. This is a real art of action and practice first. To achieve success, speculators must not only become giants of thought and knowledge, but also giants of action. Skills and knowledge can be learned, and market experience can be accumulated. What is more important for speculators is to cultivate a mature mentality and be able to act quickly. This is a long process of cultivation and pursuit of understanding.
