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Traders, what moments do you feel "really broke"?

i have a domineering name

When doing transactions in the early days, the frequency of crashes was very frequent. Big crash one week, little crash every week. Constantly throwing things, only to regret afterwards about my actions and stupid trade orders. After that, I developed a habit of depositing a small amount each time, and the proportion of funds used in each transaction is 20%-30%. There will be times of liquidation, and the first few times of liquidation are very tempered. Throwing things and yelling are common. Gradually, it became commonplace, that is, a cup of milk tea and a hot pot meal. Playing on weekends, mountains and rivers, cats and dogs, ease the mood. It's the best option to let it go completely. Trading is a job that requires a high degree of concentration. On the surface, repeated anxiety about the market is a state of mind, but in fact it is an immature strategy. In the market, someone makes money. Naturally someone loses money. Although the financial market is hugely profitable, it is ability, not luck, to be able to make lasting profits. After gradually waking up and letting go, I will not have hope for any transaction order, nor will I be disappointed with any transaction order. This sentiment has continued until now. Now it is almost indifferent to all open position transactions. Whether it is risk control, mentality, stop profit and stop loss, or strategic model, all of them are elements of a successful transaction. There is no lasting good and no permanent bad, ignorance and exhaustion are my constant state of mind right now. The ancients said: No is extremely peaceful. The two sides of things are vividly displayed in the transaction. When the bad side happens, just move your fingers and it may turn into a good development direction. Trading makes people collapse, because I can't predict the worst outcome of the transaction. Calmness is useful, based on traders with sufficient preparation and experience; mentality can be controlled, it is necessary to predict the trading results in advance. The collapse of trading is not the trading itself, but the magnified expression of one's own way of dealing with the world. If you want to be successful in the trading market once and for all, it is necessary to work hard for 5 years in the early stage. I believe that some people will shorten it to 3 years, but for most people, 5 years is the shortest time. Everyone breaks down, and life is easy to break down. Trading is just a part of life. It's good if you can see through it, but it's still the same if you can't see it through.

Futures Literacy: The Basics of the Futures World

起止点

This article will talk about some common sense of futures and some common trading methods. Basic knowledge of futures Let me briefly talk about some common sense about futures. These things can be found by searching the Internet, so I will briefly talk about the more basic things. 1. Futures basics First of all, futures is based on a pre-agreed price, and the two parties reach an agreement, that is, to buy or sell the underlying spot or make cash delivery on the delivery date. Looking around, it's actually not that complicated. For example: if it is a stock index futures transaction, then the long side and the short side reach an agreement, and on the delivery day, they will see where the stock index closes, and what is the difference from the price at which they started the transaction. Then pay in cash. That is to say, if it rises, the long side will win; if it falls, the short side will win. The trading volume of futures is very large, and there are mainly two types of players in it. The first type is hedgers, also known as hedgers; the second type is speculators. Those who do hedging use futures and some other positions to form a hedging relationship. For example, if I have stocks in my hand, and I am worried that my stocks will fall, I will hedge my risk by shorting stock index futures. This is hedgers. In other words, I am an iron ore producer, and I am worried that the price of iron ore will fall after it is produced, and I will suffer losses, so I can hedge my risk by shorting iron ore in the futures market in advance, this is hedgers. Then speculators are doing the opposite, trying to make profits through changes in futures prices. Mainly these two categories. 2. Related concepts Regarding the basic concept of futures, I won’t say much here, it’s meaningless, and those who are interested can learn it by themselves. I will write a few main related concepts that should be known: First, each futures contract has a corresponding target. It can be a stock index, or a national bond, or a commodity such as gold, silver, or crude oil. Second, futures is a margin trading system. When going long or short a futures contract, you only need to deposit a percentage of the notional amount, such as 10% of the notional amount. Third, futures have a delivery date, on which day both long and short parties will settle, and then there are delivery rules. Some types of futures are physically delivered, such as commodity futures are physically delivered, and treasury bond futures are also physically delivered. There are also some varieties that are settled in cash, such as stock index futures. The example mentioned above is that on the delivery day, everyone can directly determine who should pay whom by looking at the price difference. Fourth, the more important thing about futures is a contract multiplier. Taking rebar as an example, if the contract itself is 4,000 yuan, it has a contract multiplier of 10, which is equivalent to a first-hand rebar futures contract, and the corresponding spot value is about 40,000 yuan. Finally, about the main contract of futures. If you often read financial news, you should often encounter this word. What does that mean? That is, there will be many contracts for a certain futures product. For example, February, March, April, and May are available, but some of them have relatively large transaction volumes. Usually, the ones that are relatively close to the current time point and have a relatively large trading volume are called main contracts. 3. Domestic futures varieties Next, I will talk about some basic varieties of the domestic futures market. In fact, China's futures trading is very developed, ranking among the best in the world. There are many varieties of futures traded in the domestic market, and most of them have very good liquidity. There are two main types of futures, the first type is financial futures, and the second type is commodity futures. financial futures Financial futures mainly include treasury bond futures and stock index futures. Treasury bond futures correspond to five-year treasury bonds and ten-year treasury bonds. Stock index futures should be familiar to everyone. When there is a stock market crash, stock index futures often take the blame. There are currently three varieties listed and traded, corresponding to the SSE 50 Index, CSI 300 Index and CSI 500 Index. Stock index futures are cash delivery methods. commodity futures There are many varieties of commodity futures. Rebar, methanol, soybeans, etc. too much. Some people may find it confusing, but in fact these commodity futures can be classified into several categories. black variety It is directly related to the steel industry, so it is also called "coal coke steel mine". The main varieties include rebar (used in construction, bridge building, etc., that is, steel bars), hot coiled plates (mainly used to make cars), and then iron ore, coking coal (used in steelmaking) and so on. Here is a digression, China's economy is huge, so why is our country's futures market trading volume so large? In fact, it is very related to the economic volume of the entire country. Taking the iron and steel industry as an example, China's annual steel output is about 700 million tons. It can be roughly calculated, if rebar is three to four thousand yuan per ton, then what does 700 million tons correspond to? This is a trillion-level industry, probably worth more than 2 trillion! Think about it, how much iron ore coke upstream, including some finished products downstream, will be needed in order to smelt more than two trillion yuan worth of steel? This is a very large industrial chain. Corresponding to the futures market, this is a very active market. Non-ferrous metals Non-ferrous metals, that is, copper, aluminum, lead, zinc, and nickel. This is mainly used in manufacturing and construction industries, including decoration. Energy and Chemical Such as PTA, methanol, asphalt, these are some chemical products, mainly some relatively basic raw materials. And crude oil futures is a very active variety. agricultural products There are many types of agricultural products, and a few with relatively large trading volume are listed, such as corn, soybeans, and soybean meal. In addition, there are sugar, cotton, etc., which are agricultural products. precious metal Now listed in the country is gold and silver. other Finally, there are some other things that are not easy to classify, such as rubber, glass and so on. There are about 40 kinds of commodity futures in the domestic market, of which more than 30 are relatively active. 4. Four major futures exchanges When it comes to futures, there must be exchanges. There are four major futures exchanges in China. While listing these exchanges, let’s talk about their varieties by the way. 4.1. China Financial Exchange (CFFEX) The first is the China Financial Exchange, also known as the China Financial Exchange. Listed on the CFFEX are treasury bond futures and stock index futures. In terms of volume, CFFEX has the largest ten-year treasury bond, followed by CSI 300 stock index futures. But from the actual situation, because the 10-year treasury bond futures move less, the volatility is small, while the volatility of stock index futures is large, so from the perspective of risk and return, the trading volume of stock index futures may actually be larger . 4.2 Shanghai Futures Exchange (Shanghai Futures Exchange) The second is the Shanghai Futures Exchange, also known as the Shanghai Futures Exchange. Some non-ferrous metals are traded on the SHFE, in addition to rebar, natural rubber, gold, silver and so on. Rebar, according to the trading volume, if I remember correctly, it should be the most active commodity futures in the country, and it is also ranked very high in the world. It is a very large variety. Natural rubber is also very active, known as the "small stock index", describing it as a lot of traders, but I think natural rubber is more demonic, it is recommended not to mess with this variety. 4.3. Dalian Commodity Exchange (DCE) The third is the Dalian Commodity Exchange, also known as the Dashang Exchange. The relatively active products of DCE are iron ore, soybean meal, coke and coking coal, etc. 4.4 Zhengzhou Commodity Futures Exchange (ZCE) The last one is Zhengzhou Commodity Futures Exchange, also known as Zhengzhou Commodity Exchange. The main varieties of ZCE are some agricultural products and agrochemicals, such as sugar, cotton, methanol, PTA, steam coal and so on. If you want to do futures trading, you should study the trading rules and delivery rules of each product. In addition, at the beginning of the production, it is recommended to learn one variety and make another variety, and do not spread the stalls too wide. Because every variety of commodity futures has its special features, it is very likely that a layman will suffer a loss if he enters and trades casually without understanding. Arbitrage relationship between futures and spot (futures and spot arbitrage) 1. Futures arbitrage - positive What does futures arbitrage mean? If the price of futures deviates from the reasonable price, when the deviation is relatively large, you can do some arbitrage, and the risk of this arbitrage is very small. For example, the so-called "positive arbitrage" means long spot or short futures. This arbitrage is relatively simple. For example: if the price of the Shanghai and Shenzhen 300 Index is 4100, then you can directly buy the constituent stocks of the Shanghai and Shenzhen 300, and at the same time short the stock index futures, sell the stocks on the delivery date, and then settle the futures in cash. The risk in this process is very small, because the long position is the CSI 300, and the short position is also the stock index futures of the CSI 300. The fluctuation of these two prices has no effect. This is positive arbitrage, buying spot and shorting futures. 2. Futures arbitrage - reverse Since there is forward arbitrage, there is naturally reverse arbitrage: what if the actual trading price of futures is lower than the theoretical price? For example, the price of the CSI 300 Index is 3900. Theoretically speaking, it is possible to sell the CSI 300 constituent stocks through securities lending, that is, to find a securities firm to borrow securities and sell the stocks first. On the delivery day, I will buy the stock back, and the futures will be settled in cash at the same time. But from a practical point of view, it is often impossible to do. The first reason is that it is more difficult to lend securities. Even if you can get securities, the cost is relatively high. So reverse arbitrage is actually very difficult to operate. 3. The risk of futures arbitrage I just said that although the risk of positive arbitrage is small, there are still risks. So still need to pay attention to the following points: The first is the futures-to-spot spread, also known as the basis difference, which can be widened significantly in the short term. Futures are traded on margin, which means that when you lose money, you have to make up the margin. Therefore, if the time limit widens significantly when doing spot arbitrage, the arbitrage trade may cause insufficient margin. If you look it up, there are actually quite a few such examples in the world's trading history. For example, in December 2014, the gap between the Shanghai and Shenzhen 300 Index and the futures widened significantly. At that time, the futures premium was very strong, which caused many speculators who did futures and cash arbitrage to liquidate their positions. The second is related to some rules of futures trading. In many varieties, if you are doing speculation, you are not allowed to hold positions into the delivery month, which will cause the deadline arbitrage to fail to reach the last day. As mentioned earlier, futures are roughly divided into hedgers and speculators. Generally speaking, people who do transactions do not hold speculative accounts if they do not hold knowledge. Therefore, if the term arbitrage cannot be delivered, it is not complete. Even in some special cases, the holders of the spot will squeeze the futures speculators. Finally, under the rules of physical delivery, the uncertainty of delivery varieties and quality will lead to non-convergence of futures and spot differences. If you are new to the futures market, you can spend a little more time studying stock index futures, which is relatively simple. The delivery of treasury bond futures and commodity futures is more complicated, because it is the delivery of physical objects, such as treasury bond futures, many bonds can be delivered, and the delivery rules of stock index futures are different. Commodity futures are even more troublesome because food comes in a variety of qualities and where the delivery warehouse is located. Sometimes it may be cheaper if you hand it over at the dock, but it will be more expensive if you hand it over at a warehouse near the production site, which is very complicated. Therefore, it is recommended not to consider commodity futures and treasury bond futures at the beginning. Originally, I wanted to write about the pricing principles of futures, but it was a bit complicated and out of the scope of basic knowledge, and I will write it later when I have time. References: "Options, Futures, and Other Derivatives" "Options Futures and Other Derivatives" Chapter 2, Chapter 3, Chapter 5

Using Pagoda Lines to Judge Trading Opportunities

天使

There are many trading technical analysis methods, and each technical analysis method has its advantages and disadvantages. The pagoda line is an analysis method often used by investors. Its function is to record the rise and fall of exchange rates, provide data for speculators and Help them make research and judgment on trends. The pagoda line is shown in the figure through the process of fighting between long and short positions and the change of power. Investors can use this to judge the timing of buying and selling. It is a must-use indicator for many investors to speculate in foreign exchange. If traders want to make better use of the pagoda line, they must master the following three points: 1. If an investor finds a particularly long flat-bottomed two-color line on the pagoda line in a fast-breaking market, he must immediately execute the buying action; 2. The pagoda line will follow the trend of the exchange rate. If the pagoda line entity has two flat bottoms in a row, and then there is a two-color line with a blue line turning red, investors will buy; after two flat bottoms, If the two-color line from red to blue continues to appear, it is time to sell; 3. During consolidation, if the pagoda line turns red or blue, you can set a stop loss point based on this and decide whether to sell. In addition, when trading, investors can also combine the moving average system with the pagoda line, so as to give full play to the advantages and functions of the pagoda line. You can use parameters 6 and 18 to set the two moving averages. When the market is above the two moving averages When the foreign exchange market is below the two military lines, it means that it is a good time to sell.

Forex you don't know

The market often has some good and bad news, how should we generally treat it?

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For the real-time market, should we keep our original intention or follow the trend?

the old days of deserted city

I have been in business for five years. Almost without sleep for two years, lingering with the ups and downs of the exchange rate every day and unable to extricate myself, there have been more than a dozen times of liquidation, and a lot of money has been lost! I am obsessed with various technical analysis and attention to news every day! When I broke my position for the last time, I suddenly thought that I should open the historical chart and re-examine the trend market. Where is my problem? I have asked myself many times, is it really so difficult to speculate on the market? I also strictly stop the loss, I also take advantage of the trend with light positions, and I have also done a few beautiful transactions, why did I still liquidate my positions in the end! I stopped injecting funds again, and started browsing trading websites to find the true meaning and essence of trading! After a lot of articles from my predecessors, my mentality gradually calmed down! So, I began to seriously analyze each of my transactions to find out where I went wrong! The trading model is complicated and chaotic, without my own things, I don't have a deep understanding of the market, and I try to find out the bottom line against the market, trade frequently, occasionally take heavy positions, and close them before they are completed in time! After finding out my own shortcomings, I redesigned the trading system and trading rules. I decided to give up all the indicators and simply start with the price characteristics to discover trading patterns. I found that during the daily ups and downs of the exchange rate, whether the intraday market, no matter whether it follows the trend or not, there is at least a small trend of 30 to 50 points per day, which is always wandering up and down in key positions, and the characteristics are easy to identify! Designed a trading system that goes with the flow. I regard the daily market as a shock, the exchange rate is like water, the key support and resistance is this channel of flowing water, if the water flow is fast and the channel is very thin, the exchange rate will break through the channel and look for a bigger and stronger channel, if the channel It is relatively reliable, and the exchange rate will rebound and run in the opposite direction! What I have to do is to test to find the water channel, then test the reliability of the water channel, wait patiently for the water to arrive, and either break through with the trend, or fall back when encountering resistance. The location of the canal is my order point! From the start of the short-term trend to its formation to decay, the most powerful one is only 30 to 50 points. Well, I have my goal! 30 points per day, no matter how big it is later The trend has nothing to do with me! So, there are trading rules: 1. The daily target is fixed at 30 points, with a minimum of 20 points for each transaction, and two consecutive profits will be closed on the same day 2. The stop loss target is fixed at 20 points, stop loss for two orders in a row, and rest on the same day 3. The position is controlled at 5% of the total capital of each transaction 4. Strictly follow the trading system to find fighters

What do you think is the most important thing in trading?

天使

How to understand "buy news and sell facts"? How to deal with similar data planes?

独自空忆成欢

When doing transactions, if you cannot handle the market conditions on the data side well, you may miss a large wave of trading profits. Of course, we cannot ignore the huge risks brought by the data plane. Buying news and selling facts is a common trick in trading. Regardless of whether it is the "Tai Chi Master" Federal Reserve or non-agricultural data, such a market will basically be staged every year. However, it still affects the main funds in essence. The same is the message side, the effect is different. For example, the monetary policy of the Federal Reserve, the monetary policy of the European Central Bank, etc. These data basically affect the entire trading market for a long time. Even if there are short-term fluctuations in the short-term buying news and selling facts, the overall price trend will still be determined by The long-term aspect is the main one. Data such as non-agricultural data, EIA crude oil inventories and CPI usually affect market trends in a short-term manner. Different data have different impacts on prices, and they need to be treated differently in the actual operation process. Regarding the market trend of buying news and selling facts, some of my thoughts: First, what we need to know is that this is a normal price behavior in the market, and it is difficult to form a consistent operation, because the data is changing every time, the economic situation of each country is always changing, and the market trend is always changing . It is still impossible to use fixed principles to stipulate that the fluctuation of the data market mainly depends on the actual data. Second, the data market also conforms to the basic assumptions in the Dow Theory. Price action is everything. After all, the trend brought about by data fluctuations is only a short-term fluctuation. Under the premise of not affecting the trend structure, the price behavior will still reverse the negative fluctuations brought about by the data. Just like the non-agricultural data in September, the value of the data announced was bullish for gold, but the overall trend of gold at that time was bearish. Therefore, after the release of the data, it gapped and opened high and then fell rapidly, returning to a short trend. This is also one of the reasons for buying news and selling facts. Third, the data market is unpredictable, and it can be seen from a distance but not played with. It is still necessary to understand that the premise is that no one can know the data market in advance. Although there is a price difference between milliseconds, ordinary traders cannot advance in advance. For example, top foreign investment banks, in order to manipulate the data market, spared no expense to set up trading servers near the Federal Reserve headquarters or the office building of the US Department of Labor. This is done for the negligible time difference. Therefore, for us ordinary people, it is best to wait for the data to be released before looking for opportunities to enter the market. This is a relatively safe way to deal with it. Fourth, regarding the data market, we do not know whether there will be buying news and selling facts before the data is released. So we don't need to guess the data. My previous trading method is, before such data is released, two-way pending orders, especially non-agricultural data, follow the order wherever the price breaks through, enter the market quickly and close positions quickly, and never love to fight. However, the risk points of this method are also obvious. First, the price may gap, and the transaction is made at a bad price; second, the price may be swept back and forth; greater risk. However, this trading method has been useless for a long time, and I don't operate the data surface very much now. Finally, I still suggest that you do not gamble on such data, the risk is too great. Moreover, the data side has a high proportion of luck, which cannot last for a long time. Build your own trading system, everything is based on the trading system, this is the right way.

Open your eyes! Here are Top 5 established brokers which are often cloned.

iamjane

Compared to other types of frauds, clone scams are far trickier and more difficult to detect. Those bogus firms not only swindle hard-earned money from investors, but steal the good name of genuinely legitimate companies as well. Therefore, we collected and analyzed the data of 20 well-known brokers’ clone firms. Below, I listed the top 5 brokers which are often cloned by scammers, along with 3 tips to help you avoid the clone firms. Top 5 established brokers which are often cloned No.1 Exness Exness stands the first of the list with at least 18 clones. It is well-known trading brand held by Exness Group. Founded in 2008, this group currently operates seven entities, including Exness (SC) LTD (formerly known as Nymstar Limited), Exness B.V. , Exness (VG) Ltd. , Exness ZA (PTY) Ltd, Exness (Cy) Ltd, Exness (MU) Ltd and Exness (UK) Ltd (formerly known as Exness Europe Limited). No.2 AvaTrade The second place is AvaTrade, whose clone firms reaches up to 16. AvaTrade is a reputable broker and also one of the most highly regulated online brokers to offer Forex and CFD trading. Established in 2006, it is licensed as a regulated broker in the EU, Japan, Australia, South Africa, UAE and the British Virgin Islands. As such, AvaTrade offers clients multiple trading websites in different languages, which is one of selling point for AvaTrade. No.3 FOREX.com FOREX.com is ranked 3rd and its clones hit 14. As one of the longest standing brand, GAIN Capital Group LLC, trading as FOREX.com, is a wholly-owned subsidiary of StoneX Group Inc, a NASDAQ-listed financial giant. Since operating in 2001, it has a strong presence across the world and regulated in multiple jurisdictions worldwide, including the FCA, NFA, CySEC, ASIC, MAS, FSA of Japan, CIMA and IIROC. No.4 FXTM The fourth place in this list is FXTM, with at least 12 clones. FXTM is the brand of four entities, ForexTime Ltd, Exinity Capital East Africa Ltd, Exinity UK Limited and Exinity Limited. These companies are all owned by Exinity Group. The broker is founded in 2011 and authorized and regulated in various jurisdictions, covering FCA, CySEC, CMA and FSC of Mauritius. No.5 IC Markets IC Markets is the No. 5 position of the list, whose clones is roughly 9. It is an Australian based online forex broker that was established in 2007. The company has multiple branches and is regulated by CySEC, FSA of Seychelles and ASIC. The Group has several regulated entities, encompassing IC Markets EU, IC Markets AU, IC Markets Global and IC Markets SCB. 3 Common Tactics Employed by Clone Firms 1.Make good use of the established brokers’ socialproof All the clone scams either are unregulated or steal the license number of regulated brokers. Those impostors who steal the license number and pretend to be reputable or well-known firms, capitalize on the socialproof to fool investors into believing their claims. FOREX.com is a good example of that. The broker had an excellent reputation among Chinese investors as it was approved by China Banking Regulatory Commission as early as in 2011. However, more than a half of clone firms are registered in China. It turned out that clone scams masqueraded as reputable firms could make much less effort to gain investors’ trust. 2.Choose brokers which have various company names and websites Notably, all the five brokers have various company names, which are more likely to be the prime target of clone frauds. Let’s take Exness as an example. The names of Exness Group companies are too complex to be memorized. Although most fraudsters tend to make subtle changes to the established company names, 8 out of 18 scammers choose to directly adopt the original company name of Exness, such as Exness (SC) LTD and Nymstar Limited, which often makes investors much harder to detect. Scammers even take advantage of the multilingual trading websites to pretend to be overseas company of the real broker. They usually claim to be local branches and add the country to the company name such as Ava Pairs Trade Markets Incorporated, or to the web site domain names like asiatrader.com.tw. 3.Choose brokers which use abbreviated trademarks Using abbreviation as a trading name helps company keep their brand in customers’ mind but on the other hand, it may leave much room for those fraudsters. Adding or taking away words and transforming the upper or lower case are popular tactics for clone firms. For instance, FXTM is the abbreviation of its company name, ForexTime. Those fake FXTM firms add various words like FXTM Trading and Live Forex Time Group, or add asset classes such as OPTIONS FXTM and fxtm Investment option LTD to masqueraded as genuine brokers.

Broker Discussion

How can beginners survive in the financial market for a long time?

sea²

This problem is not only a direction that beginners want to explore, but also a problem that most experienced traders want to overcome! When I saw this question, I let out a long sigh. This is a question similar to Tang Seng’s journey to the west to learn Buddhist scriptures. First of all, whether I am as lucky as Tang Seng is another question. In terms of Tang Seng’s own qualities: persistence, firmness, bravery... , I believe that few people in the market have it! Closer to home... There are several core practical problems in this problem: the first is the lack of professionalism, which can also be said to be lack of market experience or basic financial literacy; the second is long-term survival. It can be said that any industry that can survive for a long time is a professional The third is the foreign exchange market, which is another high-risk financial derivatives market! To sum up: Unprofessionals or those who lack financial literacy want to do what professionals do in a high-risk market. The difficulty, risks and costs are a great test for anyone! So, with regard to the two questions derived from this question, I would like to talk about my own experience and feelings! The first question: the conditions to survive in the market? First of all, correct your mentality! In addition to correctly understanding the definition of the market itself and being familiar with the current industry status quo, you have to bring your balanced mentality back to reality. Trading is not a tool for huge profits, at least for the vast majority of people; The very small number of people other than the majority! Once the mentality is not good, it often shows that you are too self-centered in trading, and even give yourself unrealistic profit expectations. Second, know yourself! Fully understand your own advantages and disadvantages, and don't follow the trend; too many myths about creating wealth in the market may distort your cognition and distort your own positioning; Follow up and observe the market for a long time, and then use your own understanding to find a market that belongs to you and is suitable for your operation. The so-called knowing yourself and knowing the enemy...you can only fully understand that you are combining your own understanding of the market, and find trading opportunities that you can interpret and identify! Everything else does not belong to you! Finally, capital! The financial market, especially financial derivatives with high leverage, is not so much a small-scale big deal, but a means designed by the game rule makers themselves. The small ones are very few dealers at the top of the game, and the big ones It's all the retail investors on the other side of the game! If you don't have a rigorous, scientific, and planned trading system, don't use leverage lightly! Dreaming of unrealistic fortune-telling dreams! There may be many friends who think that as long as they work hard, they can become people like William, Peter Lynch, Rogers, etc., and even comfort themselves that even if they have one percent or one thousandth of their achievements, It’s enough for me to be proud and proud of my ancestors, and then start the journey with thousands of dollars or tens of thousands of dollars; in the end, most of the scripts are, if you invest a few thousand dollars, there will be thousands of dollars in succession. bet! Because of the lack of correct positioning and expectations that do not conform to the facts and common sense, the originally rational transaction fell into a gambling ending! Regarding the third point of capital in the conditions of market survival, I prefer to use an example to assume: Recently, many people will ask or be asked, are you doing well in trading? How about the income? And so on similar questions: the strange thing is that people who lose money can answer without hesitation, the loss is serious or even close to liquidation, but people who make money are hard to say, as if the profit does not exceed 20% or 30%, they are embarrassed to say Come out, preferably 50% or even double; this is the human problem, hypocrisy and damn face that most people have! If a person says that the monthly income is 20 to 30% or higher, or even only talks about the amount of income but never the risk, then you can take it all as a joke after dinner! Anyone with a bit of common sense and a foundation in mathematics knows that it is not an exaggeration to say that this sentence is a scam or a trick! Because this sentence is calculated according to a normal mathematical formula, no matter whether this person is knowledgeable or capable, it is estimated that this person has no knowledge in ancient or modern times! To sum up: the most basic conditions for surviving in the market are personally summarized as: correct mentality , understand yourself and capital ! Regarding the second question derived from "how can beginners survive in the market for a long time?": the way to prolong their survival in the market? Why did this problem arise? It is a luxury to survive in this market for a long time. Regardless of whether you are a veteran, a beginner will eventually become a veteran. This problem still needs to be faced! For this question, I also summed up two points! The first is: properly arrange real daily life; Trading does not exist alone, no one can absolutely leave their circle of life alone to fully immerse themselves in the trading market, whether it is a person with a family or a grassroots without a family, if it is a grassroots without a family, they still have to eat three meals a day Thinking about the problem, it is even more unimaginable if there is a family with seniors and juniors, unless there is also a main business! If you don’t have a main business and you have a family at the same time, then stop here, because no industry can achieve short-term results, especially financial derivatives market transactions! What I want to say here is that the way to prolong your survival in the market is to arrange everything reasonably in your real life, especially food and clothing, work, your daily work and rest, and your relationship with your family! Because whether it is trivial matters or major events in life, it will subtly affect the transaction every day. Whether the transaction goes smoothly or not will also affect personal emotions and life! Therefore, it is a very important issue to make reasonable arrangements for your own life and transactions! Especially for beginners, it is more necessary to regard trading as a grade-examination subject, and set the goals to be achieved for each level. Of course, there must be time for learning, so that life, work and learning trading can coexist harmoniously! Second: Make a daily plan for learning to trade; This can be divided into two steps, the first is the learning part: because at present, there is no right or wrong in the way of trading and learning, and the only way is to find various resources on the Internet and learn various methods and techniques, because This stage is unavoidable. There is no shortcut to trading. You can learn everything. Only the more you experience, the greater the effect and the more stable your mentality. The learning process will always be accompanied by trading; the second is daily practice: If beginners want to greatly reduce their early tuition fees, in addition to using the simulated trading to familiarize themselves with the fluctuations of the trading market and trading products and the functions of the software, it is best not to use leverage in the real trading stage, prohibit cross-product trading, and prohibit stacking positions and increasing positions ; Every time a transaction is over, look for a chance to try again! There are only a lot of real trading operations, and what you have accumulated is not only the sense of trading, but also the training of market risk perception and mentality! In addition, it is to arrange a time period for firm trading every day, so that life, work and learning trading have their own independent time and space! Just like there are three meals a day for three meals a day, and there is time for sleeping, so learning to trade also requires time to learn trading! Finally, it is added to emphasize : the most important point for beginners is to prolong the way of surviving in the market. If you do not fully understand the market and have not accumulated a certain amount of real experience, remember not to increase leverage and increase positions. Cross-variety is also allowed... Once curiosity Crossing the red line, all plans and preparations will be completely overturned in a short time, and you will be eliminated even before you fully understand the market risks or get started! Finally: I wish all friends who are struggling in the trading business smooth sailing and realize their goals and ideals as soon as possible!

Ten Years of Grassroots Trading History

Why do successful traders not advise others to trade?

jiaoyi golden eagle

thank youAs we all know, if you can make a stable profit in trading, you can make a lot of money, and your life will be free from now on. Leaving aside Buffett, who once became the richest man in the world, Soros, Simmons, Ray Dalio, etc. are also well-known figures on the Forbes list. The wealth they own can be called rich and coveted Three feet. Therefore, people who enter the financial market are always coming one after another, and there is a steady stream. So why do you often see successful traders not recommending others to trade? In fact, in the final analysis, it is because the success rate of trading is too low. Everyone in the stock market says that 10% of people make money. However, if it is a long-term stable profit, it is estimated that this ratio will drop to 1%. In terms of trading, due to leverage, the success rate will drop to 1‰, or even lower. It takes a lot of time and effort to be successful in trading. However, trading is different from other industries. One thing that is special is that even if you spend a lot of time and energy, you may not be able to make a stable profit, and you must have talent, your own quality, luck and other factors. So why is the transaction success rate so low? Mainly because of the following two factors: First, it is too difficult to create a stable and profitable trading system. Most other professions, such as doctors, lawyers, engineers, architects, etc., can generally be proficient as long as they learn relevant knowledge and work hard. However, for ordinary people, trading does not have a clear learning path, nor can they get systematic teaching opportunities. Even if you study very hard, you may not be able to master it. But using the same method of trading, some people make money, while others lose money. Therefore, there is no winning trading system. Therefore, how many people have been unable to create a stable and profitable trading system throughout their lives. It can be seen that it is difficult to create this system. Second, it is too difficult to overcome the weakness of human nature. It is difficult to fight the country, but it is even more difficult to defend the country. Even if you have a trading system that can make stable profits, after several years of achieving stable profits, it does not mean that you will always be profitable in the future. Many very successful traders are destroyed in one transaction, such as the devil trader Nick Lee Mori, Binzhong Tainan and so on. Weaknesses in human nature such as greed, fear, jealousy, arrogance, inflation, etc., any point may make traders go nowhere. Anyone who does trading knows that trading is too cruel and requires high personal quality. Mood, environment, changes, etc. will cause psychological changes, which will affect trading. Many people just can't pass this level, and then no more... Our human nature is the product of human evolution over millions of years, determined by the genes in our body. To overcome the weakness of human nature means to do anti-human behavior, and the difficulty can be imagined. In fact, it is the struggle between sensibility and rationality. Our rationality is like the tip of an iceberg floating in the sea, but what really dominates us is the huge emotional iceberg hidden in the sea. Usually we feel very rational in doing things, but when it comes to critical moments, we are controlled by sensibility without knowing it. There is an old trader who has been trading for 15 years and has been making stable profits for 7 to 8 years. He lives in a big house and drives a luxury car, and his life is very nourishing. Once, he was optimistic about the long market of a commodity, and he waited for several months, just waiting for this opportunity to make heavy positions and enter the market. The opportunity finally came, and he entered the market as scheduled. After that, the market also rose a little as expected. However, the good times didn't last long, and the market then turned around; however, he was unmoved, and even covered a little bit of his position. However, the market then plummeted... In the end, it is to sell the house, sell the car, and fall directly from heaven to hell... Afterwards, I asked him, why did the layout of the heavy position not stop the loss? He replied, this time with great confidence... Even if you have been making profits in trading for many years, you still cannot escape the shackles of human nature. It can be seen that it is difficult to overcome the weakness of human nature. We have to stand the test of human nature all the time when we do business. Five, ten, or dozens of times may not be a problem, but hundreds, thousands, or tens of thousands of times, you can guarantee that you can stand the test every time. ? Therefore, the financial market is a purgatory for human practice. To do a good job in trading, you must practice hard like an ascetic monk all the time, every day and every year. Can you do it? It is estimated that everyone has their own answer in their hearts. That being the case, why do we still do business? Seriously, don't take the road of professional trading lightly. Once you choose this path, you must understand that what you choose is a path of lifelong practice ! However, everything has two sides. It is not easy to make a living by trading, but once you succeed, the wealth and freedom it can bring you is unparalleled! If you also aspire to become an excellent trader, you must understand that this is a long-term process of fighting against the war. You have to devote much more time and energy to this cause than others; and you must also pay attention to your inner self. Cultivation, down-to-earth, always highly self-disciplined and abide by the trading rules, can increase the probability of success as much as possible. To paraphrase Romain Rolland: There is only one kind of true heroism in the financial market, that is, after recognizing the truth of trading, you still love it . mutual encouragement!

I can't hold on any longer...?

chief sleep expert at ma jiao institute of technology

If the stop loss is one more point, You can insist on waiting until the market inflection point, I will be willing to fight till the end, Exchange any trace of possible reversal~~~ There are only a few dozen dollars left in the account, Looking at the candlesticks one by one, The bottom line of the liquidation was eventually broken down irretrievably, Until now, only helpless mourning remains~~~ I've started to practice, I've started to worry slowly, What should I do if I am anxious about this risk? I have agreed with the stop loss to strictly implement it, But how to get back the capital of the account that has lost almost everything? I practice every day, I will be familiar with it every day, In the world of price charts, Try to learn every technical analysis, Those who have made huge profits, All tricks and magical skills~~~ The transaction is a forest of 10,000 hectares, but I am the one who lost my way. I agreed that we would make huge profits together, but why would I be the only one left to lose money, lose money! A "Trading Practice" by Dehua is dedicated to traders who still insist on losing money! Although people have a fluke mentality, when faced with small probability events, they always expect good things to happen to them, but they always feel that bad things have nothing to do with them. For example, driving, there are car accidents every day, but people believe that I will not be so unlucky; another example is winning the lottery, everyone knows that there can only be one out of hundreds of millions of people, but people always believe that I will be the luckiest one. As a result, more and more drivers died on the road, and dreaming lottery players lingered in lottery shops. What I want to say is that although death is not necessarily death, but always death is sure to die , although occasionally dreaming will not come true, even if you keep dreaming, it will never come true, because of luck . How did trading become something that needs to be persisted? We are all Chinese pastoral wild traders. No one forces you to persist in trading, no one gives you tasks, no one pays you wages, you can start anytime you want, and you can end anytime you want. But like the subject said, I haven’t made a profit for a year, and finally I can’t hold on... What is it that supports you to persist until now? It's a vain fluke . You've tried all the flukes, you're desperate, and you can't keep going. But what I'm saying is, man, that's when you're most likely to pierce the deal window , when you're most likely to figure out what a deal is. Of course, it is not necessary to continue trading after understanding the transaction. You can stop and leave, or you can turn around and be a real wild trader in the Chinese countryside. There is a routine in Buddhist practice called breaking the attachment, the so-called gods block and kill gods and Buddhas block and kill Buddhas. The old monk assigns questions to the young apprentice. No matter how the young apprentice answers, it is wrong. It will force you to a situation where there is no way to retreat, no way to stand, no way to go to the sky, no way to enter the earth, and nowhere to turn. Suddenly, in a flash of inspiration, the real self appeared. The same is true for trading. The so-called hope is all about luck. You are lucky enough to place an order, lucky to make a profit, lucky to reverse, lucky not to liquidate your position, lucky to turn over your position, and lucky to learn... You will inevitably lose money in the end, because you are lucky Everything is just an answer you found to fool the old monk, and it is all wrong. You will eventually find that in trading, money is not enough, luck is not enough, technology is not enough, teachers are not enough, books are not enough, knowledge is not enough, genius is not enough, diligence is not enough, hard work is not enough, persistence is not enough... ···What you want to rely on is not enough, and all things outside your body that rekindle your hope will quickly extinguish your illusions. When you have tried it all, become desperate, and can't keep going, you are only one step away from success. Some friends are going to ask, what does it mean to be unreliable? To give an inappropriate example, Erha is the bravest when he is led by his master, and he will be cowardly when the master lets him go, and a dog is a dog who relies on others. Trading is the loneliest march in the world, and your only ally is yourself, and you have nothing to rely on but your own brains and poor capital. Don't expect someone to teach you how to trade, let alone the trading cheats recorded in that book, you must build your own trading system comprehensively, deeply and thoroughly: first clarify your own trading philosophy , how do you understand the market First, how do you understand the trend, what is your level of risk awareness, and what are your trading expectations? Second, create your own trading strategy , what is your strategy model, where is its theoretical basis, and what are your trading signals? How to generate it, how large is the corresponding market size, and how high is the risk; thirdly, strictly implement your risk control standards , and clarify what is the maximum loss you can accept, how much is a single loss, how much is a continuous loss, and how much is an account withdrawal. Formulate and strictly implement the corresponding capital strategy, do not trade heavy positions, trade infrequently, strictly stop losses, and give priority to survival; fourth, summarize your trading psychological process in time. When doing transactions, you must know how to stop at the right time and reflect on yourself. When there are major losses, major profits, continuous losses, and continuous profits, you must stop, and think about whether you have given up on yourself and placed random orders because of losses, have you relaxed your vigilance and placed orders at will because of profits, and have you been discouraged by continuous losses? Disturbing the mentality, have you gotten carried away because of continuous success? Reflection is not only a kind of psychological exercise, but also an important means to improve trading strategies. You can find more accurate signals, find parameters that are more in line with the market, and adjust more pragmatic risk control. It is a necessary step to increase a trader's confidence. The above words, weeping and lingering in blood, those who know me must say that I am not talking nonsense!

If we build an analyst group of 100 people, we will conduct transactions according to the principle of the minority obeying the majority, is it feasible?

微凉的天空

I don't know if it's feasible or not, but thinking about such a scene, it's really interesting. Think about it, a group of people are clamoring to go long, a group of people are clamoring to sell short, and a small group is silently waiting and watching. . . There may be a few violent tempers in each group, thinking of ways to prove their own analysis, but also thinking of convincing the other side by the way. . . . The picture is too beautiful to imagine. However, this actually depends on the level of analysts who make up the group. If it's just the kind of people who move their mouths but don't move their hands, it will definitely be very lively. As long as you are a trading analyst yourself, you won't say much at all, and at most you will get back to you with long/short. reason? Sorry to be lazy. Yes, people who actually trade and make stable profits are just that lazy. I won't talk to you at all. Well, let's be honest, analysts are making a joke out of some people right now. It has become a synonym for talking only. Those analysts who do their own trading, I prefer to call them traders. Because it seems more pragmatic. Instead of just opening your mouth. . . . It's a bit off topic. Everyone has their own trading framework, and their own understanding and experience of indicators. When to enter the market, how to deal with unexpected situations, when to leave the market, and how to deal with losses, they have a clear mind. train of thought. These things cannot be solved simply by doing long and short. For example: when there is a loss, some people will choose to close their positions directly and wait for the next opportunity. Some people will continue to wait, and if it still falls, and it is about the same time, they will cover their positions before entering. Some people will choose to lock positions. In a word, each shows his own abilities, can you learn it? If you don't have your own things, just wait for a loss. (The above example does not consider what lock-up is not good, anti-order is not good, etc. Since others have a mature trading framework, they naturally have their own ideas and coping methods) So, what's the end result? There is a high probability that you will lose money. Every list comes in, there will be risks, and if you don't have your own risk control system, you can only be blind. Let’s be honest and enrich ourselves, trading is a one-person battle, you can only rely on yourself, and sometimes you even have to fight with yourself. Well, it's such abuse, this is a transaction, against human nature. In this battle, only you can help yourself, and everyone else is just a cloud. So put that thought away.

Talk about a major event that happened in the financial world to prove your trading qualifications. ?

hui wen tian xia

On December 2, 2017, the U.S. Senate passed the tax reform bill by a vote of 51 to 49. The incident has attracted global attention. The Trump administration's emphasis on "America First" and multiple shrinkages in politics, economy, and international affairs are all responses to the relative decline in the country's international absolute influence and competitiveness. In this way, it is easier to understand that Trump's tax reform is part of a series of contraction policies currently being carried out by the United States. Tax cuts reflect the country's emphasis on enterprises. The prosperity of the national economy has never been separated from the prosperity of enterprises. It is precisely based on this understanding that the reduction of tax rates is to create a better and more attractive business environment, so that enterprises are willing to come here and take root here. This is not only the consensus of the United States, but also the consensus of the world. The scale of tax cuts is as high as 4.4 trillion US dollars, which is the largest tax reform since the Reagan era. At this stage, the tax reform has been implemented for 3 years, but the impact on the economy in these 3 years is not immediate. Then we can look back at the tax reforms in American history and see how effective they are. Tax reforms in history: Will they boost US economic growth? The Keynesian school and the supply-side school respectively provided their own theoretical basis for tax cuts to promote growth: (1) Keynesian school: Starting from the IS-LM model, it is believed that tax cuts will increase residents’ income, stimulate consumer demand, push the IS curve to the right and Product and currency markets are rebalanced, which in turn drives economic growth. (2) Supply-side school: It is believed that the supply and effective utilization of factors of production determine growth. Tax cuts, especially the reduction of marginal tax rates, will increase the after-tax income of economic entities, thereby stimulating capital investment, labor supply, and economic growth. So, will the tax reforms in history promote the growth of the US economy? Yes, but not persistent enough. From a practical point of view: within 3 years after previous tax reforms, economic growth generally accelerated; but fell back after 3 years. (1) In terms of total volume: In the three years after the implementation of the tax reform, the average GDP growth rate reached 4.06%, an increase of 0.43% compared with the average growth rate of 3.63% in the three years before the tax reform was promulgated. However, if the time window is further extended, the average GDP growth rate in the five years after the implementation of the tax reform will drop by 0.16% compared with the five years before the tax reform (Figure 1). (2) Structurally: Compared with investment, after the tax reform, the marginal change of consumption is more significant. For example, within three years after the tax reform, the average contribution of consumption to GDP was 2.62 percentage points, an increase of 0.4 compared with that before the tax reform; the average contribution of investment to GDP was 1.06 percentage points, an increase of 0.26 compared with that before the tax reform (Figure 2). The greater contribution of consumption to economic growth may be related to the previous tax reforms that focused more on reducing individual taxes. On specific processes: (1) According to the Keynesian school of thought, Kennedy stimulated consumption demand through tax cuts. After the tax reform, economic growth remained at a relatively high level of 4-6% in 1964-67. However, as domestic demand and technological dividends have subsided, and competition in the international market has intensified, the U.S. economy has shown a downward trend since 1967. (2) When Reagan cut taxes in 1981, stagflation was severe in the United States. Reagan used the tax cut proposal of the supply school to stimulate capital investment and labor supply. At the same time, the Fed continuously raised the benchmark interest rate to 20% to curb inflation. Affected by the harsh monetary policy, the U.S. economy fell into a brief recession in 1982, but then took off from the low point and achieved a high growth rate of 7.3% in 1984. (3) After Reagan’s tax reform in 1986, the economy performed well in 1987-89. However, as the Federal Reserve tightened liquidity, superimposed real estate investment tax avoidance was curbed, the U.S. savings and loan crisis broke out, and the real estate bubble burst. The economy fell into a short period in 1990. decline. (4) Bush's tax cuts in 2001 coincided with the bursting of the Internet bubble and the impact of the September 11 incident, and the US economy fell into a trough. With the sharp reduction of interest rates and the prosperity of the housing market, the economy recovered rapidly from 2003 to 2006, but excessive consumption and mortgages laid hidden dangers for the subprime mortgage crisis. Furthermore, tax hikes do not equal a recession. The Clinton administration “raised taxes” to solve the deficit problem, and the U.S. economy remained strong from 1992 to 2000, maintaining a relatively fast growth rate of 3.8% (Figure 3). Tax reforms in history: Will it lead to Fed rate hikes? Theoretically, if tax cuts can promote economic growth, then according to Okun’s law, Phillips curve, and Taylor’s rule, we can deduce the logic of “tax cuts -> economic growth -> unemployment rate decline, high inflation -> interest rate hikes” chain. Specifically: (1) Okun's Law describes the stable negative correlation between economic growth and unemployment. If tax cuts boost economic growth, unemployment will fall with it. (2) The Phillips curve further describes the alternating relationship between unemployment and inflation: lower unemployment will lead to higher inflation. (3) Promoting employment and stabilizing prices are the policy goals of the Federal Reserve. Judging from the actual operation of the Federal Reserve and the Taylor rule, low unemployment and high inflation may mean faster rate hikes. So, will the historical tax cuts cause the Fed to raise interest rates? uncertain. In practice, after the tax reform, employment generally increased and the unemployment rate decreased. (1) In terms of data: Kennedy, Reagan's 1981, 1986 and Bush tax reforms: the unemployment rate dropped by an average of 0.75 percentage points within 3 years and 1.15 percentage points within 5 years. Among them, the performance was most obvious in the second year after the tax reform, and the unemployment rate fell by 1% compared with the previous year. (2) In terms of specific progress: In the first year after Kennedy and Reagan's 1986 tax reform, the unemployment rate dropped. Reagan's tax reform in 1981 and Bush's tax reform in 2001 were affected by the economic recession, and there was a time lag of about one year in the decline of the unemployment rate (Figure 4). After the tax reform, inflation will rise in about a year. (1) In terms of data: If the extreme case of Reagan’s 1981 tax reform is excluded, in the first year after Kennedy, Reagan’s 1986 and Bush’s 2001 tax reforms, the CPI rose by an average of 0.3 percentage points, and the average CPI rose by 0.3 percentage points in the second and third years. rose 1.2 percent. (2) From the perspective of the specific process: Reagan's tax reform in 1981, because the Federal Reserve continued to maintain a high interest rate of more than 10% in 1981-82, inflation fell rapidly. There was a certain time lag in the tax reforms of Kennedy and Bush Jr. Inflation picked up in the second year after the tax reform, and the CPI growth rate climbed to about 2%. Reagan's tax reform in 1986, driven by the "Plaza Accord" and the sharp depreciation of the US dollar, caused inflation to rise rapidly, exceeding 4% (Figure 4). However, improving employment and rising inflation do not necessarily lead to the Fed raising interest rates. (1) Interest rate cuts. As the economy fell into recession, after Reagan's 1981 tax reform and Bush's 2001 tax reform, the Federal Reserve cut interest rates to boost employment and economic growth. (2) Interest rate hike. After the Kennedy tax reform, in order to prevent inflation caused by the "Vietnam War" and "Great Society" programs, the Federal Reserve entered a cycle of raising interest rates from 1965 to 69. Similarly, after Reagan’s tax reform in 1986, in order to control the high inflation, the Federal Reserve raised interest rates continuously. The federal funds rate was raised from 6% in 1987 to 9.8% in May 1989. Historical tax reform: Will it push up the dollar ? Theoretically, if the tax reform makes the Federal Reserve raise interest rates faster, then according to the interest rate parity theory, the spot exchange rate of the US dollar will rise. We deduced the logical chain of "tax cut -> interest rate hike -> dollar appreciation". So, tax reforms in history: will it push the dollar higher? uncertain. From a practical point of view, after the tax reform, there are two situations of appreciation and depreciation of the dollar, and the performance is not the same. (1) Appreciation. On the eve of Ronald Reagan's 1981 tax reform, the Federal Reserve raised interest rates sharply in order to curb inflation. The federal funds rate once soared to 20%. After Reagan came to power, he implemented four measures to stabilize money supply, cut taxes, reduce government spending and intervene. The U.S. economy bottomed out in 1983 and rebounded, which further promoted the strong rise of the dollar. In February 1985, the US dollar index rose to a historical high of 165 (Figure 6). (2) Depreciation. Before Reagan's tax reform in 1986, the United States, Japan, Germany, France, and Britain reached the Plaza Agreement in September 1985, and the dollar fell sharply. After Reagan's 1986 tax reform until the end of 1987, the dollar continued to depreciate by 20%. During Bush's 2001-03 tax reform, investors' confidence in the United States was affected to a certain extent due to the bursting of the Internet bubble and the 9/11 incident. In 2001, in order to prevent the economy from falling into a continuous recession, the Federal Reserve cut interest rates 11 times in a row. The U.S. dollar has depreciated sharply since 2002, with a depreciation rate of more than 30% within two years. Historical tax reform: will it boost imports while stimulating exports? Theoretically: (1) From the point of view of imports: In the principle of trade multiplier, the marginal propensity to import reflects the relationship between economic growth and imports. Simply put, the marginal propensity to import measures the amount by which a 1-unit increase in national income leads to an increase in imports. The higher the degree of economic openness, the higher the marginal propensity to import. (2) From the perspective of export: The new trade theory framework puts forward the concept of enterprise heterogeneity. After the tax reduction, the cost gap between different countries and different enterprises in the same industry will change, or the competitiveness of enterprises in the tax reduction country will be improved, and the promotion will be promoted. exit. So, will the tax reforms in history boost imports and exports at the same time? From a practical point of view, compared with the year of the tax reform, after the tax reform, imports will speed up in the short term; the marginal improvement of exports will depend on the cooperation of the depreciation of the US dollar. But in the long run, the effect of tax reform is not obvious. (1) In terms of data: Looking at the tax reforms of Kennedy, Reagan in 1981, 1986 and Bush Jr. in 2001, the import growth rate was 4.05% in that year, and the average 10.7% in the three years after the tax reform (Figure 7). The export growth rate was 3.6% that year, and the three-year average after the tax reform was 8.8%. However, if the reference point is further relaxed, in the three years before the tax reform, the average growth rate of imports was 10.7%, and the average growth rate of exports was 8.7%. The impact of the tax reform on the growth rate of imports and exports is not obvious. This partly reflects the short-term effect of tax reform. (2) From the perspective of specific progress, imports: Except for Reagan’s tax reform in 1986 and the signing of the “Plaza Accord” at the same time, the U.S. dollar depreciated sharply and restrained imports. Within 3 years after Kennedy, Reagan’s tax reforms in 1981 and Bush’s 2001 tax reforms, imports were realized. Rapid growth, and reached the stage high in the third year. Exports: Reagan's tax reforms in 1986 and Bush's in 2001, boosted by the sharp depreciation of the US dollar in the same period, significantly improved exports (Figure 7). Historical tax reform: will it attract capital back to the United States? From a theoretical point of view: the international production eclectic theory proposes that location advantages determine the choice of investment regions for multinational companies and whether to conduct direct investment. Location advantage refers to various preferential policies including taxation, resource endowment including labor cost and quality, capital, technology, natural resources, system, information, management, potential market and other factors. According to this theory, large-scale tax cuts will improve and strengthen the location advantages of the United States, or attract capital to return. So, will the tax reform in history attract capital to return to the United States? meeting. In practice: (1) Foreign direct investment (FDI) in the United States. After the Kennedy, Reagan and Bush tax reforms in 1981, FDI increased, but with a certain time lag. In the first year after the Kennedy tax reform, FDI growth accelerated significantly. However, FDI improved in the second year after Reagan's 1981 and Bush's tax reforms, and accelerated in the third year. However, after Reagan’s tax reform in 1986, due to the subsequent outbreak of the savings and loan crisis and the bursting of the real estate bubble, FDI generally showed a downward trend within five years (Figure 8). (2) US foreign direct investment (OFDI) has not been significantly impacted by domestic tax cuts. Looking at the tax reforms of Kennedy, Reagan in 1981 and 1986, and Bush Jr. in 2001, the average growth rate of OFDI was 7.9% in the three years before the tax reform was promulgated, and the average growth rate in the three years after the tax reform was 35% (Figure 8). Historical tax reform: Will it boost US stocks, curb US debt, and benefit commodities? Theoretically: (1) The stock market. In the dividend discount model (DDM), large tax cuts raise expectations of corporate after-tax profits. At the same time, investors' economic expectations have improved marginally, further boosting risk appetite. The increase in profit expectations and risk appetite will hedge the upward pressure on interest rates and drive the stock market upward. (2) Bond market. If tax cuts make the Fed raise interest rates faster, while increasing fiscal deficits and bond issuance, then bond yields will rise and the bond market will be suppressed. The logical chain here is: "tax cuts —> interest rate increases —> short-term interest rates rise —> bond yields go up." (3) Commodities. There is a logical chain of “tax cuts—>capital expenditure increases—>import demand rises—>beneficial to the commodity market.” So, will the historical tax reform boost U.S. stocks, curb U.S. debt, and benefit commodities? There is a high probability of boosting U.S. stocks, but at the same time volatility increases; the suppression of U.S. debt is not significant; it is good for commodities. In practice, except for Bush's tax cuts in 2001, after the tax reform, US stocks rose to a certain extent. Specifically: (1) In the first year after Reagan’s tax reform in 1981, the S&P 500 index fell by 18.2% due to the economic recession, but then with the economic recovery, the stock market rebounded strongly, and the cumulative return rate reached 80.4% in the five years after the tax reform. (2) In the first year after Reagan's tax reform in 1986, the stock market soared and fell. The S&P500 retreated sharply after rising 31.9%, shrinking its annual gain to 3.2%. Afterwards, the stock market rose steadily, and the five-year cumulative rate of return after the tax reform reached 60.9%. (3) After the Kennedy tax reform, the stock market fluctuated and went up, with a slight retracement of 5% in the third year, and the cumulative return rate of 5 years after the tax reform was 26.1%. (4) Before and after the Bush tax reform, affected by the Internet bubble burst and the September 11 incident, the U.S. stock market plummeted from 2000 to 2002. After 2003, the market gradually stabilized. The cumulative rate of return in the five years after the tax reform was only 1.1%. At the same time, the volatility of US stocks rose significantly within 1-2 years, but then fell back. If the volatility of previous tax reform years is normalized to 1, then the volatility rose to 1.29 in the first year after Kennedy’s tax reform; in the first year after Reagan’s 1981 tax reform, it rose to 1.36; in the first year after Reagan’s 1986 tax reform In 2001, it rose to 2.19; in the first year after Bush's 2001 tax reform, it rose to 1.22. It should be pointed out that the tax reform may be an important factor causing the short-term increase in the volatility of US stocks, but it is by no means the only factor. Events such as the sharp increase in interest rates and economic recession in the United States in 1981, the sharp depreciation of the U.S. dollar after the Plaza Accord in 1986, and the bursting of the Internet bubble and the September 11 terrorist attacks in 2001 all had a great impact on the U.S. stock market that year. But the impact of tax reform on the bond market is not significant. The 10-year U.S. bond yield depends more on monetary policy, and as mentioned earlier, historical tax reforms were not necessarily accompanied by Fed rate hikes. (1) Curb US debt. After Kennedy’s tax reform, the Federal Reserve raised interest rates by 250bp from 1965 to 1969, and the 10-year U.S. bond yield rose by 208bp during the same period. After Reagan's tax reform in 1986, the Federal Reserve raised interest rates by 150 bp from 1987 to 1989, and the yield on 10-year U.S. bonds rose by 58 bp during the same period. (2) U.S. debt is not suppressed. After Reagan’s tax reform in 1981, the Federal Reserve cut interest rates by 850 bp from 1982 to 1986, and the yield on 10-year U.S. bonds fell by 733 bp during the same period. After Bush's tax reform in 2001, the Federal Reserve cut interest rates by 147bp from July 2001 to May 2004, and the yield on 10-year U.S. bonds fell by about 77bp during the same period. Except for Reagan's tax reform in 1981, commodities generally strengthened within 2-3 years after the tax reform, and their performance was relatively prominent in the second year. Specifically: within three years after Kennedy’s tax reform, Reagan’s 1986 tax reform, and Bush’s 2001 tax reform, using the CRB index as a reference, the cumulative returns of commodities were 7%, 19.5% and 30.3% respectively. Among them, the income in the second year reached 12.4%, 8.2% and 12.9% respectively. In the fourth and fifth years after the tax reform, commodity prices fell. At the same time, it must be pointed out that the sharp depreciation of the US dollar and the strong pull of Chinese demand after 2000 are the key factors for the rise in commodity prices after Reagan's 1986 tax reform and Bush's 2001 tax reform. After Reagan’s tax reform in 1981, due to the sharp appreciation of the US dollar, commodities fell in the short term, with a decline of 12.7% in the first year after the tax reform, and rebounded in the following two years. Tax reform in history: Will it be "reversed"? Theoretically, the "Laffer Curve" of the supply school points out that large-scale tax cuts can stimulate economic growth, expand the tax base, and increase tax revenue. So, will the tax reforms in history increase tax revenue? Or will it push up the deficit and the public debt burden, so that the government is under pressure and is forced to "backtrack"-raise taxes? From a practical point of view: large-scale tax cuts have reduced fiscal revenue and soared deficits. The government relies on public debt financing to further expand the scale of public debt. Take Reagan's tax reform in 1981 and Bush's tax reform in 2001-03 as the research object. Compared with the three years before the tax reform was enacted, within three years after the tax reform, the fiscal deficit rose from 0.31% to 3.77% of GDP (Figure 21); the public debt rose from 29.8% to 32.6% of GDP (Figure 10) . It was precisely because of the fiscal deficit and the pressure of public debt that after Reagan cut taxes in 1981, he was forced to "backtrack" and implement structural tax increases in 1982. He successively introduced the "Tax Fairness and Fiscal Responsibility Act" (1982), the Highway Tax Act (1982), Social Security Amendment (1983), Railroad Retirement Tax Act (1983), Deficit Reduction Act (1984), Comprehensive Budget Adjustment Act (1985) and a series of policies, the scale of tax cuts was offset by nearly half. Reagan's tax reform in 1986 also maintained "tax neutrality", and the scale of tax increases and tax cuts was basically the same, avoiding excessive impact on fiscal revenue. Historically, tax reforms have boosted the economy (although the sustainability is not strong); increased employment; the impact on the growth rate of imports and exports is not obvious. This partly reflects the short-term effect of tax reform. But the increase in exports is greater. At the same time, it attracts capital to return to the United States, so overall, the impact of tax reform on the overall economy of the United States is not small. It's a pity that people's calculations are not as good as heaven's calculations. An epidemic will directly bring the United States back to its original shape.

What do you think are the core competitiveness of a good broker?

lumnary

In my understanding, in mainland China, when the Chinese government has not supervised the currency platform, tell me, what is the core key that you are most concerned about when choosing a currency platform? If my judgment is not wrong, nine out of ten, everyone will choose the safety of funds. Well, when doing transactions, everyone is very concerned about their own funds. When doing transactions, whether there is every transaction and whether the funds are circulated into the international market. Among them, whether each transaction is effectively supervised or not is what our domestic traders are most concerned about (fund security) without government supervision. Then some people may say that the platform I make is subject to the most stringent regulations in the world. I don’t have to worry about the strict regulatory agency FCA’s full license regulation. Speaking of this, I really want to say, do you really believe that the contract you signed is regulated by the FCA? The real FCA-regulated platform accounts can enjoy claims insurance protection, which is the core competitiveness of a broker. Risk situation 1: The platform has an FCA license, but your account is not opened in the UK. Such incidents are relatively common. Due to the planning of the broker's market sales area, the Chinese market may not be assigned to the broker and the British company, but to other regulated companies. This type of broker has a characteristic that the websites they use are used by groups, not individually regulated companies. For example, ironfx, ironfx has multiple licenses around the world, but ironfx.com is owned by IronFX Group. You can see that there are many regulatory numbers written below. But if you open an account directly through their official website, you may open a Cyprus account. If you open a Cyprus account, your funds have nothing to do with FCA supervision. The problem is only related to ironfx Cyprus company and Cyprus supervision. Therefore, when opening an account, the website owned by such a group must be clear about the supervision under which the account is opened. how to do? It's very simple, that is, when opening an account, there are terms of agreement, which are the contract for opening an account. In the contract, there is the name of the company that opened the account, and the supervision number corresponding to the name, that is, what control your account is under. Risk situation 2: FCA regulated platform, your account opening is not through the official website, but a similar website For example, if you open an account, the website reserved by the broker in FCA is xxx.com, and the domain name of your account is xxx.com.cn, and the website page is only in Chinese. However, logging in to xxx.com cannot switch to the website of xxx.com.cn. When logging into the customer background of the website, it is still not the domain name of the broker UK. At this time, you have to pay attention, it is very likely that xxx.com.cn is trying to sell dog meat. Your account is opened under other regulation, not UK regulation. Risk situation 3: The platform itself is regulated by FCA, and an account is opened through the office, but after the account is opened, there is no supervision. Such platforms, even professionals, may not be able to understand them, which are typical violations of regular brokers. Normally, if you open an account through a regulated company, your account must be regulated by the regulatory agency. But what if you open an account not through the only official website? How can you confirm that your account is absolutely regulated and protected? £50,000 deposit insurance coverage? You check the following points, all are indispensable 1 The broker must have a full UK FCA regulatory license. (*authorized, *allowed to hold and control clients’ funds, *has a currency retail business license, *supports retail clients) 2. Account opening is through the URL of the regulated company on the FCA website. 3. When opening an account, there is an intention to agree, and the account opening contract and certain names in it are exactly the same as the names regulated by FCA. Not even one word less. 4. In order to ensure extra security, it is recommended that the customer service or account manager you contact work in the UK, not other places. For the above four requirements, the first three must be met, and the fourth must be met as much as possible. In this way, your funds are 100% regulated and protected, and you can enjoy the £50,000 deposit insurance protection provided by FSCS. Additional note: After July 30, 2018, all UK brokers must comply with ESMA regulations, and the foreign exchange leverage of retail customers shall not exceed 30 times. So if you open an account that is greater than this leverage, then obviously, your account will not be a UK account and will not be protected by FSCS. But we also noticed that after the customer upgrades to a professional customer, the leverage is not limited. Will also enjoy fscs protection. You should know that a professional account must provide a professional certificate. Among the materials provided, it takes about a week to be upgraded to a professional customer.

How do you view the theory that review is useless?

over and over again

I don’t know why you have such an idea. I can only say that in my knowledge, reviewing is very helpful to trading, even greater than you listening to the guidance of a certain trading master. I think that traders who hold the view that review is useless may just think that review cannot guarantee the consistency of transactions and define the mentality of traders. I really can't figure out why in other aspects. First of all, let's talk about the consistency of review trading. Some traders may think that we will be tempted by various temptations in the process of reviewing trading and collecting trading signals. For example, when indicators such as MACD and RSI show opposite signals, this actually occurs. The root of the problem is mainly that you are in a very vague state of your own trading signals. You don't know your trading rules at all, so you will be disturbed. To put it in more detail, you don't even know how to resume. Reviewing the market is not simply dragging the K-line price, and then entering and exiting something. The core of the review is how you integrate your trading system into the historical market, and let the historical market verify your trading system. Try to simulate the state of the firm offer as objectively as possible, especially when the data is in the market. For example, the data market has given birth to your trading signal. Will you strictly implement it in the process of the firm offer? From this point of view, there will indeed be errors in the results of the review, but this will not become the main point of view that the review is useless. Even if such a situation arises, what is your response? This needs to be incorporated into your trading system. Secondly, you can't exercise your mentality about reviewing. In my opinion, it is meaningless to talk about mentality without trading logic. Just like when you go to a casino, your mentality comes from your confidence, and your confidence comes from your capital. If you just play with the mentality of losing and going to work, winning the young model in the club, Then you will never make money. The same is true for trading, when you don't have enough time to review, and you don't have enough time to find out what the market is and how the market will go. Every time you trade, you don't have any support points, and every trade is the same as gambling, which can make your mentality better. As the saying goes, if you read thousands of volumes, you can write with a spirit, and the same is true for trading. If you don’t have enough understanding of the market, how can you develop a good attitude? Therefore, the review is not to exercise your mentality at all, but to let you understand the market better. In short, review is the way for traders to learn at the lowest cost.

Ask the masters who have been making stable profits for 2 years, how many years of history is good for resuming after the establishment of the trading system? Starting from those aspects to optimize and then review, is it to optimize entry and exit according to the shape of indicators and K-lines? Is there also position management and profit-loss ratio like this? I was a self-study in a scam company a few years ago, and I really like trading. Please guide me with stable profit masters. I am grateful. It is too painful to study by myself, and I can’t sleep after studying every day?

connotation jokes tv

Thank you Matcha for the invitation. There are a lot of aspects to this question, so I'll go over it slowly. First of all, the subject of the topic should be a trader with several years of trading experience. Here I use experience, not experience, because from the point of view that you can’t sleep because of trading, you seem to be at a very new level. Strictly speaking, a few years of trading has not made you much progress, or fundamental changes. Now you think that trading still needs a trading system. This idea is correct. There is no consistent trading. It is impossible to succeed if you trade by feeling alone. Maybe you will make some money on the wind because of luck, but as long as you don’t leave In the market, after the turmoil, it still has to be returned. How to build a trading system? First of all, you must have a correct transaction logic. My own trading logic is that the market is unpredictable, no matter how far or near, it is impossible to predict, so I choose to follow the market, of course, this is my own trading logic, many people disagree, and it is normal, the trading logic is wrong Need to argue, as long as you believe it. Based on this logic, I chose a core concept of trend following, cutting off losses, and letting profits run. Once I have the trading logic, I will build my trading system around my trading logic. I will not adopt any non-stop loss, because it does not conform to my truncated loss logic, and I will not accept any ideas that are safe , because it does not conform to my profit-running logic, I do not pay attention to any operation of selling high and buying low, because it does not conform to my logic of trend following. I think anything can happen in the market, just because I believe it is unpredictable. The specific trading system is composed of three elements: entry rules, exit rules, and fund management. This is a set of essential elements that can become a system, although other details can of course be added according to the trader's preference. My own trading system is modified according to the turtle trading rules. Here I use modification, not perfection, because the turtle is a top-level trading system. There are some seemingly optimized modifications, but in fact they are only in another On the one hand, there are shortcomings where traders are not aware of, so the top trading system cannot be perfected. Different settings can only be made according to different traders according to their personal preferences, but many of the core contents are similar. Briefly speaking, the turtle trading rule is to break through the 20-day high to go long, break through the 20-day low to sell short, and then increase the position once without continuation of 0.5 ATR, increase the position up to three times, and then leave the market after the market pulls back two ATRs . How about it? Simple isn't it? It's easy to understand, but there are not many people in this world who can apply it. Why? It is too difficult to persevere, the retracement is large, the effect is slow, and the unfavorable period oscillates until it is worn out to vomit blood, but looking at those who persevere, they have long become masters. This book is the most detailed book on the trading system so far. The author used a book to write the few sentences I just said. He also wrote all the possible difficulties that this system may face. Whether you accept this concept or not, you should read it. If you don’t even have the patience to read a book in detail, then trading may be a bottomless abyss for you. After having a trading system, we always want to make some changes whenever the trading encounters an unfavorable period. This involves the optimization system. I roughly divide the optimizers into two forms. First, parameter optimization. For example, if you use the 20-day moving average, when your system frequently stops losses, you will doubt whether the 20-day moving average is not the best, so you look at the historical data of the golden decade, use the moving average to backtest, and find that, Why! The 25-day moving average is the most profitable, so you change the 20-day to the 25-day moving average trading, and after a period of time, it starts to retrace continuously. Are you wondering if 25 is not suitable? So you back-tested the data of the past five years and found that the 32-year moving average is the best, and you wondered why, it turned out that the 32-year moving average should have been used since it has changed in the past few years. But after getting here, everyone should know, what about when 32 doesn't work? He will change it again? Because the future market is uncertain, if you decide the most perfect parameter based on the history that has been formed, you will always be lost and unable to extricate yourself, and this is the over-optimization of parameters, how to avoid it, choose a cycle of your personal preference Parameters, consistent execution will do. Second, index folding optimization. Many people believe that one thing is that when the market meets the conditions of two, three or multiple indicators, the probability of making a profit will increase. This has a beautiful name called multi-indicator resonance. Is that actually the case? When the long-term average line arrangement meets the entry conditions, you feel unstable, and you have to wait for a macd divergence. If the macd deviates, you think it is best to have a special k-line pattern. Traders superimpose these things and think that they will get increase in probability. The movement of the market in the next second or the next period of time will not be affected by meeting the indicators you set. If indicator folding can really increase the probability, then I will make ten or eight indicators to meet them together, then Isn't it invincible? How can it be? And there is another question here, when a trading system is too complicated, you set five conditions, and if you meet four of them, can you do it? If you do, how about meeting three next time? Or if you meet the conditions of one, three, and four this time, and the next time you meet the conditions of one, four, and five, how do you choose? In the long run, there is simply no transactional consistency. Therefore, for optimization, when you optimize one aspect, you have to think carefully about whether there is a shadow on the other side. My opinion on optimization is that if it is not necessary, do not increase the entity. The answer to this question is almost complete. Finally, let’s talk about the data you asked about how long it would take to resume the market. I think it is at least ten years old. Only in this way can the sample be sufficient to make a judgment. The trading system you built is There is no positive expected return. Speaking of which, can a person who has made stable profits for more than 2 years be called a master? I think more research is needed. Are you satisfied with this answer?

Is small capital suitable for long-term investment or short-term investment?

turn a blind eye

Whether foreign exchange is long-term or short-term depends on personal preference and has nothing to do with the amount of funds. The key to the use of funds is position layout and risk control. Regardless of the amount of funds, it must be executed according to your established trading strategy. A heavy position is a relative concept, not an absolute one. If you have a principal of US$100 and you use a proportion of US$60, it will also be classified as a heavy position. On the other hand, we have to consider the time consumption of short-term and medium- and long-term strategies, that is, time cost. The most essential difference between long-term investment and short-term investment is the holding time. Generally speaking, the investment community generally believes that selling within two weeks (ten trading days) after buying is a short-term operation. Two weeks to two months or even three months can be considered a mid-line operation, and more than three months The above can be considered as long-term investment. Some short-term masters buy on the same day, sell on the next day or even on the same day, and then re-open the position. Generally, this kind of operation is called ultra-short-term! Therefore, if you want to quickly accumulate capital and have a suitable short-term strategy, then the short-term trading plan will increase the utilization rate of funds, accelerate the accumulation of funds in the account, and at the same time, the time cost is relatively low. As the saying goes, "Long-term investment is gold, and short-term investment is silver". There are some misunderstandings in this concept. Individuals have different levels. It is the most correct choice to adopt suitable operation methods. Sustained and stable profits are the ultimate goal of every trader. , the temporary profit and loss are not important. Whether it is short-term or long-term investment, you can make money if you do it well, and you will lose money if you do it badly. It is meaningless to do long-term and short-term foreign exchange trading, and it has nothing to do with the amount of funds. We often encounter the strongest upward trend in the real market, with a short-term decline in the middle, and we can’t hold the position, so we close the position; a long-term investment is profitable, and we decide to do a long-term strategy, and then start with a heavy position, and extend the stop loss; the strategy is long-term. Investment, repeatedly pushing up the stop loss leads to deep lock-in, and then turns to short-term plans, etc. The result of all loss orders has nothing to do with the amount of funds. "Money Management" "Position Layout" "Own Trading Habits" Failure to achieve precise positioning in each of the above three points is the key to the loss. Forex is a leveraged market 1:30 1:100 1:200 1:300 1:500 1:800 1:1000 All of the above leverage ratios are available. As long as you have a trading system that is confident enough to make a profit, under the leverage effect, your small capital can easily leverage big profits, and the profit rate of a transaction can be brought to 15% easily. Finance is a place where empty-handed wolves are compared. Brains and guts are compared, not MONEY.

How to build a trading system by yourself?

connotation jokes tv

The trading system is what every trader must have if he wants to stay in the market for a long time, just like he must breathe if he wants to live. How to build a trading system? Let me divide it into two parts. Classification. First of all, you must first determine the type you want to be. Do you want to be a trend-setter? Shock faction? Leftists? Rightist? Day pie? Middle school? This is still very important, because what you want to be must be what you prefer, and what you prefer is relatively more successful. Many people have a high probability of becoming what kind of people they are first exposed to. Okay, it's not bad to only recognize first sight in life. Let me tell you about my own situation. When I started to get in touch with the system seriously, someone taught me the left trading system. He used it well at the time, so I wanted to learn it. His method belongs to the type of building positions in advance, buying the bottom and finding the top, but I am very uncomfortable to use it. , I can't always find the essence of his method, I always copy it and copy it on the ceiling. It was very disturbing at the time, and this matter troubled me for about a year. Later, I learned more and knew that it was a left-hand transaction, and then I searched for a right-hand transaction, and I found it very comfortable to do it. I didn't make any money, but I just feel that the way on the right side to wait until the market comes out before making a move is very comfortable. Later, I learned the band, and now it has evolved into trend following, which is in line with my personal preference. The example I mentioned does not mean that everyone should do a certain method. The existence of each method is reasonable, and reasonable application, adding your personal preference, will get twice the result with half the effort. So the first point, you choose the category first. split. What does splitting mean? A trading system has many elements, such as entry rules, exit rules, fund management, product selection, cycle setting, etc. You have to disassemble each link to practice. For example, to enter the market, you go to search, there are many kinds, breakthrough entry, pullback entry, choose one you prefer, and then decide. For breakthroughs, you can open long above the moving average, open short below the moving average, or break through ten. Open more at daily highs and so on. A callback is a callback relative to a breakthrough. You set a callback number to open a position, or a number of ATR callbacks to open a position. ATR is a daily volatility indicator, and you can Baidu its meaning for details. Or you can enter the market based on pattern recognition, and wait for k to dawn and dusk first, or convergent triangle, symmetrical triangle, etc., or you don’t need anything, open long when you see new highs and new lows, open short when new lows are new lows, whatever. Admission is done. Exit rules, first stop loss rules, what is the single loss you can bear, or leave the market if there is a certain reversal pattern. Take profit is established according to the profit-loss ratio, and you can set a stop profit within the expected range of the bank. For example, I forcibly set a two-to-one ratio, or go out of the N-shaped structure to enter the market, etc., all are fine. My most recommended way to enter the market is to let the profit run out, which is to sacrifice a certain amount of profit taking in exchange for a potentially larger profit. For example, if I open long above the moving average, when the price falls below the moving average, I will exit When the price is above the moving average, it is likely to be a smooth upward trend. Fund management, this is super simple, you open once with 0.1 for 1,000 US dollars, and if the position is liquidated, then open another 1,000 US dollars for 0.05, and then open 0.02 for another 1,000 US dollars. Find the one that fits best, and you're good to go. As for other varieties, cycles, etc., it's the same, experiment one by one. Some people may think that I didn’t say anything after reading it, and it’s like nonsense, but this is how to build a system, you just have to experiment one by one, there is no way, but I tell you a good news, once you build the system, it will be your fingerprint , a system engraved with your soul, which no one else can understand except you, this may be a sharp sword for you to go to the trading pyramid. Are you satisfied with this answer?

What kind of system can accurately locate support resistance and trend when doing transactions?

risk control master-x

How do you maintain your concentration while trading?

warren

How do you maintain your concentration while trading? How do you avoid getting bored or experiencing burnout from constantly monitoring the charts, all while staying attentive to your trading activities? In my case, the struggle arises from excessive chart-watching, leading to boredom during quiet market moments or fatigue from over-attentiveness. There are times when the perfect trading setup emerges, but I'm either too tired or not mentally prepared to take action. Do any of you engage in activities like watching TV or listening to music to help? Any advice to share?

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