Financial trading is against human nature, and only about 5% of people can make money in the market!
If you want to be part of that 5%, you must do the following, and I mean must!
1. Do not blindly follow the crowd.
2. Do not overinterpret the news; often, the news is just a tool used by the main players to manipulate the market.
3. Do not believe that the market will operate exactly as you expect; therefore, you must implement risk control and stop-loss measures every time, determining how much you can afford to lose, and you must be sure of the amount you can bear to lose.
4. Maintain independent thinking and a strong heart. When everyone around you thinks the market will surge, you must be aware of the risks; when everyone thinks it is about to go to zero, you must dare to buy in. This is extremely difficult.
5. Acknowledge your mediocrity, admit your lack of knowledge, accept that you are not a once-in-a-million martial arts genius, recognize that you do not understand financial trading, and realize that what you have learned may already be outdated. Use the principle of mediocrity to find a real and existing mediocre strategy, rather than fantasizing about a quick-fix strategy. This is even more difficult because we all think we are very smart, which is a weakness inherent in human nature.
6. There is much more...
If you cannot do all of the above, finding a reliable teacher as your compass is the most dependable choice. As for how to find a reliable teacher, I don’t know; you’ll have to weigh it yourself!
The benevolent see benevolence, and the wise see wisdom!
If you want to be part of that 5%, you must do the following, and I mean must!
1. Do not blindly follow the crowd.
2. Do not overinterpret the news; often, the news is just a tool used by the main players to manipulate the market.
3. Do not believe that the market will operate exactly as you expect; therefore, you must implement risk control and stop-loss measures every time, determining how much you can afford to lose, and you must be sure of the amount you can bear to lose.
4. Maintain independent thinking and a strong heart. When everyone around you thinks the market will surge, you must be aware of the risks; when everyone thinks it is about to go to zero, you must dare to buy in. This is extremely difficult.
5. Acknowledge your mediocrity, admit your lack of knowledge, accept that you are not a once-in-a-million martial arts genius, recognize that you do not understand financial trading, and realize that what you have learned may already be outdated. Use the principle of mediocrity to find a real and existing mediocre strategy, rather than fantasizing about a quick-fix strategy. This is even more difficult because we all think we are very smart, which is a weakness inherent in human nature.
6. There is much more...
If you cannot do all of the above, finding a reliable teacher as your compass is the most dependable choice. As for how to find a reliable teacher, I don’t know; you’ll have to weigh it yourself!
The benevolent see benevolence, and the wise see wisdom!