In the crypto world, to become a qualified trader, you must first understand a fact: hold on when you are losing, run when you are profiting, otherwise, you will always be a sucker.
Psychologists point out that people's aversion to loss far exceeds their love for gain, a phenomenon known as 'loss aversion.' In trading, this psychological factor has caused a lot of harm to many people.
When the account is in a floating loss, we often think that it is a real loss and are unwilling to close the position, even hoping to increase the position to recover. But when the account is in a floating profit, we fear that the profit will slip away and rush to take profit. This kind of mindset will only prevent you from making money and lead to more losses.
To become an excellent trader, you must master the following 14 principles:
1. Do not count on luck to escape risks, it will only get you deeper; nor hesitate to miss opportunities, opportunities wait for no one.
2. Long term investment is as steady as gold, short-term operation is as flexible as silver, while swing trading is like the brilliant BCD, grasping it well can earn more.
3. Give yourself some room, maintain a peaceful mindset, and adapt flexibly to market changes.
4. Investing is like eating fish, don't be greedy, make sure to leave some profit for others.
5. Frequent trading can lead to losses, while hesitation can result in chronic bleeding. Both should be avoided.
6. The most important thing in investment mentality is to stay calm in order to make wise decisions.
7. The market often appears in despair, develops in hesitation, and finally ends in madness. Learn to enter and exit at the right time.
8. Greed will swallow profits, and fear will make you miss opportunities. Only by controlling emotions can you make steady profits.
9. In a market downturn, there is often opportunity hidden, with cash in hand, ready to seize the opportunity at any time.
10. Buy with confidence, hold with patience, sell with determination, seize the opportunity and take action.
11. Do not be superstitious about indicators, they are only useful to those who understand; they may mislead those who do not understand.
12. Be sure to set stop loss points to control losses within an acceptable range.
13. When everyone is afraid, it may be the time to buy; but when everyone is crazy, it's time to consider retreating.
14. Newbie only looks at price changes, Seasoned Traders follow the changes in Trading Volume, while Crypto Veterans can insight the market trends. Constantly improving oneself is the key to becoming a winner.
#BTC
Psychologists point out that people's aversion to loss far exceeds their love for gain, a phenomenon known as 'loss aversion.' In trading, this psychological factor has caused a lot of harm to many people.
When the account is in a floating loss, we often think that it is a real loss and are unwilling to close the position, even hoping to increase the position to recover. But when the account is in a floating profit, we fear that the profit will slip away and rush to take profit. This kind of mindset will only prevent you from making money and lead to more losses.
To become an excellent trader, you must master the following 14 principles:
1. Do not count on luck to escape risks, it will only get you deeper; nor hesitate to miss opportunities, opportunities wait for no one.
2. Long term investment is as steady as gold, short-term operation is as flexible as silver, while swing trading is like the brilliant BCD, grasping it well can earn more.
3. Give yourself some room, maintain a peaceful mindset, and adapt flexibly to market changes.
4. Investing is like eating fish, don't be greedy, make sure to leave some profit for others.
5. Frequent trading can lead to losses, while hesitation can result in chronic bleeding. Both should be avoided.
6. The most important thing in investment mentality is to stay calm in order to make wise decisions.
7. The market often appears in despair, develops in hesitation, and finally ends in madness. Learn to enter and exit at the right time.
8. Greed will swallow profits, and fear will make you miss opportunities. Only by controlling emotions can you make steady profits.
9. In a market downturn, there is often opportunity hidden, with cash in hand, ready to seize the opportunity at any time.
10. Buy with confidence, hold with patience, sell with determination, seize the opportunity and take action.
11. Do not be superstitious about indicators, they are only useful to those who understand; they may mislead those who do not understand.
12. Be sure to set stop loss points to control losses within an acceptable range.
13. When everyone is afraid, it may be the time to buy; but when everyone is crazy, it's time to consider retreating.
14. Newbie only looks at price changes, Seasoned Traders follow the changes in Trading Volume, while Crypto Veterans can insight the market trends. Constantly improving oneself is the key to becoming a winner.
#BTC
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