1. Becoming a profitable trader is a journey, not a destination. There is no such thing as a trader who only wins but never loses. Try to trade better every day and have fun with your progress. Concentrate on learning the skills of technical analysis and improve your trading skills, instead of just focusing on how much you win or lose in your trading.
2. As long as you do what you should do according to your trading plan, then congratulate yourself and feel at ease with this transaction, regardless of whether the transaction is profitable or lost.
3. Don't be too complacent when you make money, and don't be too downcast when you lose money. Try to maintain a balanced professional view of your trading.
4. Don't expect this or that to happen in a transaction. What you are looking for is thoughtful consideration of the facts, not speculation.
5. If your trading method tells you that you should make a transaction, but you do not execute it, you miss a chance to make money, and you can only sit on the sidelines. This kind of pain is far greater than if you enter the market according to your own trading plan and do one The pain of making a trade but losing money in the end.
6. Your own life experience shapes your understanding of trading. If you are trapped for the first time after entering the market, it is very likely that you will never enter the market again after you get rid of the trap, and even cut your flesh and stay away from the market. The psychological impact of losing money and failure in trading is greater than the physical pain, and the impact lasts longer. Losing money on a trade wouldn't have such a negative and long-lasting effect on you if you weren't knocked out by a bad trade.
7. Educational experience plays an important role in shaping the way traders view trading. A formal business education can give you an edge in understanding the general state of the economy and markets, but it doesn't guarantee you will make money in the markets. Most of what you learn in a formal college education won't give you the specific knowledge you need to be a successful trader. To be a winner in trading, you must learn to perceive opportunities that most people turn a blind eye to, you must gain more experience than others from operations as much as possible, and you must tap the knowledge that is essential to successful trading.
8. Arrogance and pride in making money can bankrupt people. Making money stirs up emotions that distort one's view of reality. The more money you make, the better you feel about yourself, which makes you vulnerable to arrogance. The thrill of making money is what gamblers demand. Gamblers are willing to lose money again and again, just for the pleasure of making money once.
9. Always keep in mind that no matter win or lose, one person bears it. Don't blame the market or the recommendation of friends or the advocacy of stock reviews. Losing money gives you an opportunity to notice what went wrong with your trade. Do not attack personally.
10. Risks can be avoided as much as possible, but they cannot be completely eradicated. Successful traders quantify and analyze risks, truly understand and accept risks, and accept risks emotionally and psychologically to determine your mentality in each transaction . Individual risk tolerance and trading time preferences also make each trader different. Choose a trading method that reflects your trading preferences and risk tolerance.
11. The market is the collection of the mentality of all trading participants. The long and short daily fight reflects what the long and short are thinking every day. Be sure to look at the relationship between the closing price of each day and the high and low of the day, because this reflects the recent strength and weakness of the market.
12. Never buy just because the price is low or dare not hold or buy just because the price is high. Never lose patience with the market. There must be a suitable reason before making any transaction. Remember, the market is always right.
13. Traders need to listen to the market. To listen to the market effectively, traders need to pay attention to their trading methods, and also pay attention to themselves as much as they pay attention to trends and markets. The challenge a trader faces is to understand who he really is, and then to develop those qualities that are conducive to his trading success in a firm and conscious way.
14. As a trader, the farther away from hope, greed and fear, the greater the chance of successful trading. Why are there thousands of people who are good at analyzing technical charts, but really good traders are so rare? The reason is that they need to spend more time on their own psychology than on analysis methods.
15. If a worker wants to do a good job, he must first sharpen his tools. Lincoln also said, "If it takes me eight hours to chop down a tree, then I will spend six hours sharpening my axe." In trading, this motto can be understood as: research and learning are very important . It takes far more time to prepare for the exchange than to place an order and watch the order.
16. Most traders are less patient than the market. There is an old adage that the market will do whatever it takes to drive most traders crazy. As long as someone goes against the trend, the market trend will continue.
Remember that becoming a profitable trader is a journey, not a destination. There is no such thing as a trader who only wins but never loses. Try to trade better every day and have fun with your progress. Concentrate on learning the skills of technical analysis and improve your trading skills, instead of just focusing on how much you win or lose in your trading. Don't expect this or that to happen in a transaction. What you are looking for is thoughtful consideration of the facts, not speculation.
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