The Mindset of a Top Trader

Trading experience record
do nothing

Top traders must have an innate quality. The reason why they are top is that they have never doubted that they are that kind of people. This is the real core competitiveness.

"Today, there are fewer and fewer trading opportunities that meet the principle of profit, so you must wait patiently. When you get a good card, you must hold it patiently"

- your real trading level depends on understanding this The depth of the sentence: the timing is getting more and more stringent, the odds of winning are getting higher and higher, and the patience is getting stronger.



"In the first ten years of trading, I often lost money and was on the verge of bankruptcy for a long time." "
Borrow money, lose money, borrow money, lose money"

- look at these masters who have come here, even so, they have never doubted themselves Born to trade, born to do it!

When you have nothing, when you repeatedly fall into confusion, the only thing that can save you and lead you to success is the self-confidence that comes from your bones. The root of trading lies in the strength of your heart.



"He believes that the most important trading principle is money management"

- see clearly! The easier the technology is to learn, the better. Any technical tool can make money. The difficulty is the flexible and efficient combination with fund management. The

huge difference between traders at different levels of core is reflected in the process of making profits.



"I must maintain my strength and make a comeback"

——When you are obviously restless and difficult to balance, remember to forget the profit and loss and withdraw part of the principal, or even liquidate and stop trading!

Funds are the foundation of everything, don't lose your normal gaming mentality, and never forget!



"I will reduce the amount of experience immediately after continuous profits or major profits"

——When you make continuous big profits, you have a tight muscle. If you know how to shrink your funds, it means that you are really making progress.



"The main reason why I keep losing money and losing everything is [insufficient patience], so [ignore trading principles], [can't wait for the general trend to be clear], and enter the market rashly"

——The right timing is the gate of life, wait patiently for the full attack point! On the surface, the fate of speculation seems to lie in price, but in fact it lies in time. The continuous and in-depth understanding of time runs through a trader's entire career.

Witnessed the whole process from immature to mature.

"The market trend is not as expected, so I just quit"

——In the world of speculation, hope is worthless, learn to identify opportunities, understand the odds of winning and think of countermeasures is the only thing you can rely on, control yourself when you can't play, and have To do nothing is to do more.

~~ These are the core thinking of top traders! For building heads fit for trading!




Regarding the career of professional speculators, the following are the best words of the top predecessors in this industry, which are very instructive and are excerpted here.

【Livermore】

Many people say that everything has two sides, but the market has only one side, not the long side or the short side, but the right side.

Money is earned by sitting, not by operation.


[Victor Sporandi]

If you know what a trend is and when it is most likely to change, you actually know everything you need to know about making money in the market.

No trading system can compare to your own creativity.

Cognition is the ability or function to perceive being. The greatest obstacle to cognition is the occurrence of unintentional oversights in mental processes.

Think in terms of priorities. One way to simplify your profile is to focus on one or two of these areas. The other is to use computers to handle the work of organization and screening.

Knowledge itself is definitely not a guarantee of success. You also need a management plan to implement knowledge and the psychological quality to strictly abide by the plan.

The first priority is to protect capital (the core principle), followed by the pursuit of consistent returns, and then use part of the profits to conduct riskier transactions.

Technical consistency is best in the long run.

The success of the institution is to use the psychology of wave observers.


【Richard D. Wyckoff】

A stock market investor must be as tough as an egg boiled for 5 minutes; as cold as a fish; ignore any rumors; ignore the news; as a doorknob when discussing the stock market with others Same.




Here are some of my personal opinions:

1. The essence of trading is to follow the trend! To complicate simple problems is the road of stable losses that the public has been taking.

2. The market always tends to postpone the fulfillment of everyone's judgment, thereby constantly destroying everyone's beliefs. This process is forever cyclical, testing your ability to grasp opportunities, and separating winners and losers in the long run Complete diversion.

3. Statistics and analysis are the foundation of trading, but they are worthless when the logic is not closed. On top of this, fund management is the soul of trading.

4. As a professional trader, you must learn to use a consistent strategy to deal with the changing market, and open up an interlocking profit chain for yourself in the chaotic world.

5. The essence of trading is to capture the imbalance of the market. From another perspective, you have to forget about the market and rely on the breathing space of the market.





6. Face up to your own fear and greed. Trading is just a series of simple and pure operations, with risk control first and technology second.

7. Like a craftsman, dig out fine capital risk control rules step by step, and earn real profits. Don't try to take shortcuts, and others can't do it for you. This is the foundation of survival.

What kind of person is a top trader?

Keen insight to see the essence

Firmly grasp the technology of effectively limiting losses

Facing the ups and downs of the market, be a free fish without thinking, with a calm mind, a strong heart, and unity of knowledge and action.


Yes, the ultimate in financial transactions is just a few simple rules. However, each requires years of hard work to truly comprehend.

Done well, you will have the right to choose in your life, and the right to choose is a very expensive thing at any time (public account: Lingyunhui) If there is anything else in this business that needs to be kept in mind, it is:

" No one's life is perfect, but every moment of life is beautiful. No matter what kind of disaster befalls, as long as life is still there, life must continue. Living is the most beautiful thing."

--"beautiful life"

Copyright reserved to the author

Last updated: 08/19/2023 10:52

909 Upvotes
7 Comments
Add
Original
Related questions
About Us User AgreementPrivacy PolicyRisk DisclosurePartner Program AgreementCommunity Guidelines Help Center Feedback
App Store Android

Risk Disclosure

Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. Opinions, market data, recommendations or any other content is subject to change at any time without notice. Trading.live shall not be liable for any loss or damage which may arise directly or indirectly from use of or reliance on such information.

© 2024 Tradinglive Limited. All Rights Reserved.