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The development of a trading system. If everyone hasn’t found a suitable trading system, then you can start with risk control first. If you want to recommend certain books, you can take a look at Bozhi’s “Beat the Market Makers: A Complete Guide to Winning at Casinos.”
Or you can review your own trading records. Actually, you’ll discover a very serious problem. It’s not that your trading success rate isn’t good. Instead, you run into a wave of extremely large losses that can’t be recovered—your emotions explode, and then you trade with heavy position sizing, blowing through the position and getting liquidated.
Sometimes I often think about it. In fact, anyone can place orders at will—no matter whether you go long or short. Because the market is something we really can’t predict the future rise and fall. There’s a fifty-fifty chance of success. Then going back to the starting point—since there’s a fifty-fifty chance of success, as long as profits are greater than losses, won’t you generate profits in the long run?
So I personally think that in trading, it’s not about first learning some super-powerful trading setup or doing technical analysis. It’s about first getting risk control right. Then afterwards, learn a trading strategy that fits you. The core of a trading strategy is one thing: we’re trading probabilities. Using this probability to make money is the key.
Once you have a trading strategy, you can decide before entering the market what my buy-in point is. If the market action matches your expectations, then in what kind of situation do you add to your position, and in that situation when do you exit. If the market is different from your expectations, then where do you set your stop-loss.
It’s just repeating simple things. Do repeated things with care.
If there’s really no one watching your live stream, then write something on the forum square. If you have any questions, ask me in my live room. The replies I give you there will be more direct and intuitive. Thank you all. 😀