Read my previous post: The 100-fold Evolution of Traders, which contains the core content I summarized, answer correctly for points.
This post mainly discusses the training process of a trader from novice to expert, where the most important thing is to establish a good trading system. Once we have trading discipline, the rest is just waiting for opportunities to arise. Waiting for market conditions can be lonely, but waiting is also the most effective. The best way to become a sharpshooter is to continuously train your shooting skills and strive to achieve a one-shot kill.
Question: What kind of person is most likely to enjoy good profits in trading?
Answer hint: The answer can be found in the article, a total of seven characters.
On the fifth day of the event contract starting from 5u, I made $60 today and went to sleep. Today I went from 30 to -40 and hit 60, which is not bad. Suddenly I remembered that a few days ago I kept losing and went all in; although I gambled right and broke even (made $70 that day), it wasn't a good trade. That feeling was too terrifying, so I can never go all in again. #事件合约
Fifth day of the 5u startup event contract record, let's leave it at that for today. Indeed, high frequency is not a good thing; the earnings are still not as much as the six trades made in the morning #事件合约
Started with 5u, it's the fourth day of the event contract, today I made 70 dollars, and I'm only 18u away from breaking even on this sub-account! #事件合约 #事件合约每日记录
In the last 10 days, I have cut my positions by 1 million, resulting in an account loss of nearly 40%. During this process, I indeed made several mistakes: - Confused position management - Confused stop-loss - Confused breakeven settings - Confused entry signals - The most critical issue is that I also made frequent trading and other basic mistakes
The more I lose, the more I get caught up in it, opening more positions when losing. Besides not holding positions and over-leveraging, I basically made all other mistakes, completely falling into a state of "anchoring effect." This is a very scary state, and the main reason why the vast majority of traders suffer continuous large losses is due to becoming puppets controlled by the anchoring effect.
**Solution** How can we make such an effect disappear quickly? Currently, I know two methods: 1. The simplest method: let the account drop to zero, completely stop trading, and the anchoring effect will disappear directly 2. The second method is to "stop": a completely calm method is to stop trading and allow myself to slowly return to the best state. During this period, I need to continuously learn from past knowledge, especially trading psychology knowledge.
**Current Adjustment Status** - My trading has basically stopped in the last 2 days, even when I see opportunities, I have also stopped trading - At this stage, I mainly adjust my state by writing posts, doing live streams, playing basketball, and traveling - Waiting for specific market conditions that belong to me, reducing the trading frequency to the historical lowest point - Maintain a "watching and not trading" state: I will not open positions unless there is a major market movement - Refuse external interference: I remain steadfast when anyone mentions market conditions and analysis
**Thoughts on Trading Discipline** - Although discipline is very important in trading, "waiting for opportunities" is the most difficult part - Discipline only needs to restrain human nature, while waiting for opportunities requires resisting market temptations - The market is ever-changing, and those who watch the market for a long time can easily be led by various market movements - Most people cannot wait for the right market conditions, which is precisely why it needs to be cultivated.
Started with 5u, it's the third day of the event contract, let's rest early today, it's good to take profits #事件合约 $BTC . Yesterday I issued a low guarantee, and then surged 400, hoping to recover the capital for the sub-account playing the event the day after tomorrow.
🎁 Little C's Gift Time is Here! 🎁 I heard you've been a bit lucky lately, so come and see if you can get a card from Little C!
📣 Participating is super easy: 1️⃣ Follow the 'C2C Chinese Club' square page 2️⃣ Leave a comment below this post (share your thoughts on C2C, the features you wish for, or just praise Little C!) 3️⃣ Share this post to your square dynamic
Little C will randomly select 10 lucky participants after the event ends to give away exquisite Binance merchandise~
📅 Event Duration: April 21 – April 27 🏆 The winners' list will be announced after the event ends on the C2C Chinese Club, so remember to check back often!
Follow + Comment + Share = Goodies to take home~ Come and play with Little C!
🎁 Little C's Gift Time is Here! 🎁 I heard you've been a bit lucky lately, so come and see if you can get a card from Little C!
📣 Participating is super easy: 1️⃣ Follow the 'C2C Chinese Club' square page 2️⃣ Leave a comment below this post (share your thoughts on C2C, the features you wish for, or just praise Little C!) 3️⃣ Share this post to your square dynamic
Little C will randomly select 10 lucky participants after the event ends to give away exquisite Binance merchandise~
📅 Event Duration: April 21 – April 27 🏆 The winners' list will be announced after the event ends on the C2C Chinese Club, so remember to check back often!
Follow + Comment + Share = Goodies to take home~ Come and play with Little C!
The current cryptocurrency scene is really not as good as going to Macau for some fun, with free food, drinks, and entertainment all in one go. Even if you lose a hundred thousand, at least you've had the experience. The hotel plus the complimentary meal is worth around twenty to thirty thousand. In contrast, the cryptocurrency scene completely drains you without any return; aside from staying up late, there’s no sense of experience at all.