Stay in touch!
Subscribe to our newsletter to get the latest updates on live market analysis, trading strategies and more. You can unsubscribe anytime.
By subscribing, you agree to Trading.live Privacy Policy.
If you want to talk about the experience of entering the industry, would you believe me if I said that I was tricked into it by a friend?
Back then, I was also an honest and responsible person in a professional class. My friend said, come on, do finance with me. There is a lot of money in this industry, and it depends on whether you have the ability to earn it. So I thought, no matter what I do, it’s not bad, what’s the big deal, fuck him!! So I entered this industry that is as deep as the sea.
I have been in this industry for more than ten years, and the journey has been bumpy, bumpy, and bumpy. Fortunately, buddy, I have survived until now.
As for trading experience, from personal experience, the most important thing is not the trading system, but the execution ability.
Of course, some people say trading philosophy, trading risk control and so on. But I personally feel that these things are included in the trading system. To measure the quality of a trading system, that is whether it can make stable profits.
But we must know that no matter how good the trading system is, no matter how bad the trading strategy is, it must be put into the market in the end, otherwise it will be a decoration, which will not produce any economic benefits. As long as your trading system is going to be put into actual market combat, most of the final executors may be humans, and a small number of people will write the mature trading system as EA, perform mechanized operations, and strive to make money like fools.
As long as people are operating, the final decision is execution. My trading experience is whether the execution can be done well.
In many cases, the weakness of human nature will become a fetter in the transaction process, such as people's pursuit of advantages and avoiding disadvantages, such as fear and greed, etc. If the execution is not in place, how to overcome these weaknesses of human nature? How can we implement strict entry and exit rules if we can't customer service the weakness of human nature? Without strict entry and exit rules, how can you make big profits, small losses and stable profits?
For example, after someone makes an order, he sets a stop loss. When the floating loss is about to reach the stop loss position, he always fantasizes that his direction is correct, so he adjusts the stop loss position again and again, and finally reaches nowhere. adjusted. This is a typical manifestation of poor execution. Obviously he was wrong, but he still refused to admit his mistake.
Therefore, in the foreign exchange market, without strict execution, everything is floating clouds.
Copyright reserved to the author
Last updated: 08/18/2023 14:03
There is nothing like this. Now it is the sharing economy. Only by sharing and learning from each other can we produce real things and break the original thinking to create new value.
I sum up a few points
1. The money you use for trading must be money that will not have any impact on your life. This is really important. Because some people who enter this market borrow money to reverse the situation, and some come for the mentality of getting rich quickly. This actually involves a mentality, which is the element of gambling, and this element of blocking will aggravate your greed and hatred. Obsession is slow, so a vicious circle is formed. For example, if you trade full-time, your funds are not large, and your living expenses may all depend on trading. At this time, it is difficult to do a good job of trading. This is inevitable, because the reality will force you to gamble. The road, that is, the two inner demons of greed and suspicion are aggravated. I have been in trading for so many years, I have seen some people play with money because they are bored, and they are purely interested in this matter. The money in the transaction has no effect on her. Although she is not skilled, what she does is amazing It is much better than ordinary people. Speaking of this, some people must think, I just want to rely on trading to turn over, no problem, sharpening the knife is not the same as cutting firewood, taking a small amount of money, a sum of money that will definitely not affect your life, let's practice. If the loss is over, reflect on it, give yourself some time, and when you find the problem and know how to solve it, the sum of money will not affect your life. I think, by doing this, you will eventually gain something. If you do this, I think you will come back here after N years and write down your insights.
2. Don't be arrogant. This is a common problem of people, especially those who enter this market. Everyone thinks they are smarter than others. But you have to remember that the only criterion for judging is whether you continue to make profits. My understanding of this cycle is at least two years. Otherwise, you must always remember that what you think is what others think, and you are just one of many losers.
3. Think independently and don't follow what others say. Where there are many people, there must be problems. When everyone is hot-headed and crazy, then stand aside and calm down. Dangerous, dangerous, don't pretend to be smart, think that you can be stronger than these people, and you can retreat unscathed. The same information, different people see different things. Ordinary people look at the conclusion, but the real hunter thinks about the essence, and it is precisely this conclusion that is used.
4. Learn No matter who you are, you are the object of your study. People who lose money always warn you not to be like him, and people who are taller tell you that there is a sky beyond others, and there are people beyond others. You will always be someone else’s food, no need Too many, just one mistake.
Copyright reserved to the author
Last updated: 08/18/2023 08:30
Put risk control and fund management above the entire trading system. The trading system and any transaction must unconditionally obey the arrangement of fund management and risk control.
Constantly test and validate your ideas and perceptions. It is very powerful when your cognition and ideas are continuously affirmed by practice. Powerful trading beliefs are a key to overcoming execution.
The cognitive structure and way of thinking should conform to and match the objective trading environment. Your thinking and expectations must conform to the characteristics of the objective market. Too subjective thinking will cause conflicts between people and the market and trigger emotional reactions.
Fully accept and embrace losses from the bottom of your heart. To understand the fact that losses are inevitable, and no longer avoiding losses is the key to controlling losses. And calm loss control is the first basic skill in trading.
Copyright reserved to the author
Last updated: 09/06/2023 23:13