Here are 20 valuable insights from an A8 trader, each one profound!
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 due to a lack of patience, leading them to ignore trading rules and hastily enter trades without waiting for clear market trends or opportune moments.
Insight Three#
Whenever faced with setbacks, the inner turmoil is painful. Most traders, when facing significant losses, want to recover immediately, thus increasing their trading size in an attempt to turn the situation 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 predictions, you should choose to exit.
Insight Five#
You must hold onto your good positions and minimize losses from bad ones; if you cannot maintain profitable positions, how can you make up for the gaps caused by losses? Many profitable traders eventually lose all their profits because they lack the patience to hold onto winning trades while being unwilling to stop trading during losses.
Insight Six#
A common mistake many traders make is trading too frequently; they do not carefully choose the right timing and rush to enter the market at the first sign of volatility, which is akin to forcing themselves to trade rather than actively waiting for good opportunities.
Insight Seven#
Skilled traders can consistently profit because 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 wiping out their capital.
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 operate with small amounts, keeping each loss within 1% to 2% of your capital.
Insight Nine#
Learn to remain calm while trading. Traders are like boxers; the market can hit you hard at any moment, and you must stay composed. When you incur losses, it indicates an unfavorable situation; do not rush, take your time. You must minimize losses and strive to preserve capital. After a significant loss, your emotions will inevitably be affected, so you should reduce or stop trading and reconsider your next move after some time.
Insight Ten#
Whether experiencing large losses or gains, maintain a calm mindset. Analyze each trade daily and 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.
Insight Eleven#
Most people understand trading principles, but true experts steadfastly execute these principles even during extreme market fluctuations.
Insight Twelve#
The reason skilled traders have a high profit ratio is that they respect the market; this fear leads them to carefully choose their entry timing. Most people do not wait for the market to clarify before entering; they often venture into the forest at night, while experts wait until dawn. They do not predict the direction before the market moves but let market fluctuations indicate the direction, only attacking when the opportunity is foolproof; otherwise, they refrain.
Insight Thirteen#
Trading strategies need to be flexible to adapt to market changes; a common mistake among many traders is rigidity in their strategies, often complaining that the market does not match their expectations! Why should it be the same? Life is inherently full of uncertainties.
Insight Fourteen#
Do not let the joy of profits cloud your judgment; remember, sustained profitability is the hardest. Once you start making money, you will expect more, forgetting the risks and no longer questioning the correctness of trading principles, which can lead to self-destruction. Therefore, you must 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 on. You should think about how to reduce losses rather than how to make more money; when trades are not going well, reduce or stop trading; when trades are going well, increase the volume, but do not rush into the market when you cannot control the situation.
Insight Sixteen#
In trading, learn to be on edge because success can come quickly and leave just as fast; setbacks often occur when you are feeling proud. The speed at which things can be destroyed is far faster than the time it takes to build them; some things may take ten years to build but can be destroyed in a day. Therefore, you should always practice strict self-discipline.
Insight Seventeen#
The vast majority of traders have a gambling mentality, preferring to trade heavily; thus, you must change this mindset. Historically, those who trade heavily do not end well. You must keep each loss within 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 skilled.
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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