Here are 20 valuable insights from an A8 trader, each one incisive!
Insight One#
If I make a wrong judgment, I must exit immediately, as the saying goes, "While the green mountains remain, one need not worry about firewood." I need to preserve my strength for a future comeback.
Insight Two#
The main reason some traders continuously incur losses is the lack of patience, leading them to ignore trading rules and rush into trades without waiting for clear market trends or controllable opportunities.
Insight Three#
Whenever faced with setbacks, the inner pain is real. Most traders, when facing significant losses, want to recover immediately, thus increasing their trading scale in an attempt to turn things around, but this often leads to failure. After a setback, the correct approach is to immediately reduce trading volume or pause trading; what you need is not to earn back the losses but to rebuild trading confidence.
Insight Four#
If profitable trading opportunities become increasingly rare, you must wait patiently; when the market trend completely diverges from your prediction, you should choose to exit.
Insight Five#
You must hold onto your good positions and minimize losses on bad ones; if you cannot stick to profitable positions, how can you make up for the losses? Many profitable traders eventually lose all their profits because they lack the patience to hold onto winning trades and are unwilling to stop trading when facing losses.
Insight Six#
A common mistake many traders make is trading too frequently; they do not carefully choose the right timing and want to enter the market as soon as they see market fluctuations, which is akin to forcing themselves to trade rather than actively waiting for good opportunities.
Insight Seven#
The reason skilled traders can consistently profit is that they have patiently prepared before entering the market. Many people, once they start making profits, begin to underestimate trading, leading to more frequent trades, and subsequent losses can be hard to handle, ultimately resulting in significant losses, even losing their principal.
Insight Eight#
The worst trades stem from impulsiveness; the most destructive mistake in trading is being overly impulsive. Everyone should act based on established signals and not change strategies due to momentary impulses. Therefore, controlling impulses is the primary principle of risk management. In trading, you must learn to manage risk and prepare for the worst, so you should trade in small amounts, keeping each loss between 1% to 2% of your capital.
Insight Nine#
Learn to stay calm while trading. Traders are like boxers; the market can hit you hard at any moment, and you must remain composed. When you incur losses, it indicates an unfavorable situation; don’t rush, take your time. You must minimize losses and strive to preserve capital. After experiencing significant losses, emotions will inevitably be affected, so you should reduce or stop trading and reconsider your next move after some time.
Insight Ten#
Whether facing large losses or large gains, maintain a calm mindset. Analyze each trade daily to check for any violations; reflect on the reasons for successful trades and deeply analyze failures to identify problems. Therefore, to continue trading successfully, you must value every operation regularly.
Insight Eleven#
Most people understand trading principles, but true experts steadfastly execute these principles even during extreme market fluctuations.
Insight Twelve#
The high profit ratio of skilled traders comes from their respect for the market; this fear makes them cautious in choosing entry points. Most people do not wait for the market to clarify before entering; they often enter the forest in the dark, while experts wait until dawn. They do not predict the direction before the market starts moving but let market fluctuations indicate the direction, only choosing opportunities that are foolproof, otherwise, they abandon the trade.
Insight Thirteen#
Trading strategies must be flexible to adapt to market changes; a common mistake among many traders is the rigidity of their strategies, often complaining that the market does not align with their expectations! Why should it be the same? Life is full of uncertainties.
Insight Fourteen#
Do not let the joy of profits cloud your judgment; remember, sustaining profits is the hardest. Once you start making money, you will expect more, thus forgetting the risks and no longer questioning the correctness of trading principles, which can lead to self-destruction. Therefore, you must always remain vigilant, being cautious during losses and even more cautious during profits.
Insight Fifteen#
In trading, learn self-restraint and capital management, and try to relax while operating; if your position is unfavorable, exit; if favorable, hold. You should think about how to reduce losses rather than how to make more money; when trades are not going well, reduce volume or stop trading; when trades are going well, increase volume, but do not rush into trades when you cannot control the situation.
Insight Sixteen#
Learn to be on edge while trading because success in this field comes quickly and leaves just as fast; setbacks often occur when you are feeling proud. The speed of destruction is far faster than that of construction; some things take ten years to build but can be destroyed in a day. Therefore, strict self-discipline is essential at all times.
Insight Seventeen#
The vast majority of traders have a gambling mentality, preferring to trade with large positions; thus, you must change this mindset. Historically, those who trade with large positions have not ended well. You must keep each loss under 2%.
Insight Eighteen#
Trading based on charts is like surfing; you do not need to know the reasons behind the waves' rise and fall, just feel the rhythm and seize the timing to become an expert.
Insight Nineteen#
Some people modify their trading systems when they incur losses, while others do not trust the system at all, doubting system signals and often entering and exiting the market based on preferences; however, experts always follow the system. Trading is not for excitement but for victory.
Insight Twenty#
True trading experts are not measured by how much they profit in an instant but by how long they survive and how sustainably they earn!
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