There are no shortcuts to trading, and success is by no means easy. Every trader wants to find a way to succeed as soon as possible. As the market fluctuates, a trader’s life is like a roller coaster ride, with peaks and valleys.
In the face of the temptation of interests, only those who do not forget the original aspiration can always succeed.
Success comes from the right choice If the beginning of success begins with the right choice, then the end is in the long-term persistence.
Before I started trading, I spent two years investing in stocks and funds.
In 2014, when the stock market was in the bull market in 2015, the capital increased from 20,000 yuan at the beginning to 60,000 dollars.
This makes me a hundred times more confident, speculative market more than a blood and pursuit.
In 2016, I officially started my currency trading adventure.
Unlike stocks, leveraged trading can only be long, long and short can be done, and can not do T+0 trading.
I didn’t have any experience and skills in the first operation. I directly invested $7,000 and followed the analyst to make orders without considering the stop loss. Sometimes I made $1,000 a day, and then I threw up all of it after a short time.
I vaguely remember that during the National Day last year, I made Euro pound and pound Mei, and then added stock all the way, and the account had a floating loss of more than 3,000 dollars.
Finally really can not carry, account funds have lost half, and finally directly all stop losses.
Then what happened the next day was even scarier, sterling black swan, and then to see a lot of people saying it was blown out, I was glad I was out a day early.
In the long run, I think only those who are good at learning from their failures will become stronger.
No one’s trading road is smooth sailing, almost every trader’s growth is a must.
I am no exception, and I even had a painful experience of doubling my position after doubling my profits. I have summarized several trading principles to share with you: 1.
Put an end to profiteering. A lot of people start thinking that it’s easy to make money here and you can double your money in minutes, but in fact, it can happen in minutes.
2. Don’t follow blindly and don’t act arbitrarily.
Must remember, easy not to do a single, do a single will have the chance to win.
Some people don’t see the trend.
I went long or short.
3. Be sure to cut your losses.
For example, if you lose $70 on $100, you still have a chance to make your money back on $30, but you have almost no chance to make your money back on a big bust.
4. Don’t be greedy.
Too greedy is not a good thing, is the so-called insufficient people snake swallow elephant, the market reverse trend is a lot, if you are not a trend, long term earnings, really do not need to be too greedy.
5. Be disciplined, trade rationally like a robot, take stop-loss and stop-gain, like more than dead carry sooner or later burst!
6 Light trading, even if the market reverses, but also through the loss to earn back.
But if it is a heavy position, the margin has not been allowed to continue to do, so it is easy to lose or even explode.
In fact, trading profit is a gradual process, want to stable profit, only step by step to practice the basic skills of trading, in order to make their own in this market.
Learn to stop losing is where you start making money. People are sensory animals, and any emotional fluctuations will directly affect trading.
If you don’t have a good mindset, it’s hard to survive in this risky market.
From my own experience, you have to be a cold-blooded robot when it comes to trading. You have to stick to your principles and be able to follow a plan to avoid clueless trading.
I only trade on two things, stop-loss and break-even ratio.
For example, in my recent scalp strategy, I incorporated these stops: 1. Hard stops; 2.
2. Virtual stop loss;
3. Profit stop loss, when floating losses to a certain extent, will start to increase the profit stop, when the market can quickly appear when the correction;
4. Time stop-loss refers to a certain point in time, regardless of whether the profit or loss is all closed.
Technology is the foundation, strict stop loss is the beginning of making money.
Admitting wrong stop loss is not a bad thing, only learn to stop loss can control the problem of loss.
As the saying goes: as long as the green hills last, there is no fear of burning wood.
The loss is not terrible, afraid of is even the opportunity to turn over the capital.
How to choose a good platform for novice trading, I think as long as you pay attention to the following points, the trading road will be much smoother: 1. The year of the establishment of the platform: starting more than 5 years, less than 5 years prudent choice, more than 10 years, relatively reliable.
2. Highly regulated platforms.
3, platform trading environment: slip point, chuck, dropped line, execution speed, stop profit stop loss set limits, network speed and so on.
4. Point difference: ECN, standard, VIP.
5. Account type: The mainstream are US dollar, US cents, Australian dollar, pound, euro and so on, which are used more.
6. Trading rules: liquidation limit, hedge limit, brush limit, hand limit, arbitrage limit and so on.
7, gold in and out: normal gold in 1 minute -1 hour, special period is relatively slow.
Trading days are 1-3 days, excluding Saturdays and Sundays.
More than 3 days to be careful, except for wire transfer, usually slow to the platform is not recommended to consider.
8, platform review: bad reviews are inevitable, and then excellent platform also has bad reviews, but 100% praise, 100% poor review platform should be careful, learn to distinguish is very important.
9. Platform customer service processing speed: Although this does not affect the transaction, it will be passive if you cannot find someone to solve the problem.
10, rebate: the wool in the sheep, do not be too obsessed with rebate.
Some platforms are attracted by rebates to do illegal activities.
11. Gold donation: Gold donation is a means of promotion for the platform to attract customers. Do not choose for the sake of gold donation.
Conclusion: Under the impact of the COVID-19 pandemic on the global economy, the market is in an extremely unstable state.
The focus of traders is still on how to choose the right strategy to make money. Of the trend, hedge, arbitrage, grid Martin, scalping strategies, the short or middle of the trend is the easiest to make money.
In summary, I think the short term profit is king, and the second is the scalping strategy used by many trading leaders.
Do not expect the market to go in the same direction all the time. It is wise to make money and run. Finally, I wish all traders can gain more wealth in the market.
