1. Get rich overnight, the mentality of a gambler
Trading and investing are risky and highly profitable, and there is every chance that you will get rich overnight. But this is definitely not a reason why you can devote yourself to trading with a "get rich mentality".
Many people compare currency trading to gambling, and think that once "contaminated", it is difficult to quit. It is not known that these people have a deep-rooted "gambler mentality" from the beginning. Investing is not gambling, just like "adventure" is not the same as "risk".
It is precisely because of the existence of this high risk that you can't just think about "getting rich". This kind of low-probability event will only disturb your mentality. Strictness, prudence, and discipline are the qualities you need to possess.
Treat currency investment as a job, use the discipline of commuting to and from get off work every day to regulate your transactions, throw away the greed of gamblers, and add more piety to pilgrims, only then can you go long and far on the road of investment.
2. Random trades without a plan
When you're new to investing and you've made some money from the start, you'll love it pretty quickly. Your number of transactions starts to increase, you will place orders at will with a fluke mentality, you will take full positions, start to use high leverage, and even forget to set stop losses.
Trading becomes random without any strategy, and a bomb that may detonate at any time is quietly buried under your feet.
In this crisis-ridden market, it is impossible to survive without strict discipline. If you just hold the mentality of playing and want to get out of the whole body, then the chance of success is almost zero.
Although the investment market is risky, as long as we adopt strict risk control methods, we can control it at a low level. The plan is the first to be formulated and strictly implemented. You must keep in mind "no plan, no trade" in currency trading.
3. Blindly follow the trend, follow what others say
In the foreign exchange market, just like the stock market, it is full of all kinds of news. Most people follow the advice of others in their transactions, but they lack their own judgment.
If you rely on brokers, experts, friends..., have a soft spot for market rumors and gossip, and think that you can make steady profits just by following their advice, then this will be a trap for you to fall into.
"Hear the circulating market information, and then make a judgment based on it", experience tells us: either the information has long been out of date, or it was originally carefully planned false news.
You are used to listening to other people's eloquence, and one day you will find that you would rather believe in the mistakes of others than insist on your own correct views. If you complain to others because of this, and you are unwilling to be responsible for the consequences of your own follow-up, then you will lose the opportunity to correct your mistakes, and your investment will come to an end.
4. Irritable, determined to go my own way
Currency trading is 70% mentality, 30% technology, and 20% market. Who would not want to grasp this 70% mentality? It looks simple, but it is not so easy to do!
If you start to be impetuous, then trading will become as bad as your mood. Controlled by emotions, sometimes you will make irrational actions, trade when you should not trade, blindly open and close positions, and trade frequently, just to prove the accuracy of your method, and throw the safety of funds in the market. side.
In fact, when you are under the control of emotions, you may not prevent simulation operations at this time. For example, Industrial Investment provides a variety of platforms for investors to participate in simulation contacts. In this way, not only can reduce the loss caused by blind copying during this period, but also achieve the purpose of alleviating emotions and adjusting mentality.
Currency investment is like a long-term and grand project. It cannot be impetuous but can only be accumulated little by little. Although most of the transactions are short-term, from the investor's mentality, it is necessary to look at ten years, twenty years or even a lifetime. Only with time can we develop a calm and calm attitude.
5. Never conclude, repeat the same mistakes
Have you ever used a tried-and-true trading method and feel like you have found your trading bible? Have you ever read an authoritative recommendation in a book, and these are regarded as wise words? Have you followed the advice of experts from the media, but in the end it didn't work? Do you……
The key is whether you have made a serious summary of your trading methods? There is no specific way in trading that suits everyone. You should treat the knowledge you come into contact with with a skeptical attitude. Only self-summarization can keep you awake, and then find a set of effective methods for yourself.
Therefore, you must constantly conduct self-summarization. If you have never done it, then you may not even understand your own trading habits. This kind of ending can only be that you repeat your mistakes again and again without even realizing it. It's only a matter of time before all the money is lost.
Trading is not so much an investment plan as it is a spiritual experience. People who have come through are calm;
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