(1) Because the market is too chaotic and disordered to find the general law, excessive analysis and forced prediction are just like seeking fish from a tree. Therefore, to accept the fact that the market is unpredictable is the first step to establish psychological advantage.
(2) Remember, perfect traders don’t exist. You can’t beat yourself, your weakness will stay with you for the rest of your life. However, accepting your weaknesses can make you more flexible and reduce the cost of making mistakes.
(3) Besides making money, finding a trading motivation that suits your personality and understanding what motivates you to be a trader can help you improve your performance and maintain long-term profitability.
(4) Trading risk is directly proportional to the time of holding trading position, so the best way to control risk is to control trading time. Never buy because the price is low, but sell because the price is high; Never increase your position when you are losing money.
(5) Correct understanding of success, the complacency generated by success will deceive the real situation. The more you win, the better you feel about yourself and the more you feel about yourself. The joy of success is the narcotic of gamblers. In many cases, once gamblers are excited by profits, losses will follow. To have enough capital and normal mentality to start trading every day is success.
(6) Don’t get too excited when the deal is going well, and don’t get too upset when it’s not going well. Correctly understand right and wrong, don’t judge heroes by results. Sometimes you do it right and still lose money; Sometimes you make money when you do something wrong. The right way can’t guarantee success, but the wrong way will eventually make you fail.