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Trading Core: Cut Losses First, Talk About Profits Later

1. Trading Principles, The Most Important
There are two extremely critical principles in trading, namely cutting losses and letting profits run. If we were to discuss their importance, cutting losses would be the top priority.

2. Capital First, Market as Guide
Whether engaging in speculation or investment activities, protecting capital is always the top priority. Once a loss occurs, it means you are on the opposite side of the market, which is indicating through actual trends that your judgment is incorrect. The wisest course of action at this point is to cut losses promptly, rather than trying to prove that you are more correct, stronger, or smarter than the market.

3. Follow the Market, Heed the Reminders
It is often said to befriend the market and its trends. When losses occur, it is like a friend giving you a clear and unmistakable reminder; we should heed it, rather than go against it.

4. Losses Are Like Alligators, The Deeper You Get, The Worse It Becomes
Losses must be cut promptly; otherwise, it is like being bitten by an alligator— the more you struggle, the greater the loss. Perhaps some people escape successfully based on experience, but those who frequently walk by the river are bound to encounter fiercer situations, and past experiences may become ineffective, leading to regrettable consequences.

5. Cutting Losses, The Key to Survival
Cutting losses, while not directly equivalent to making profits, can significantly increase the probability of survival in the market, allowing you to maintain the qualification to continue trading.