1. I was cheated1 million in 4 months of doing foreign exchange
I was chatting with a friend recently. He started foreign exchange in March last year, and was deceived by 1 million, of which more than 700,000 were due to foreign debt.
I didn't know why he had so much confidence to operate with so much money as a beginner. Through our conversation, I deeply felt his eagerness to pull back a game.
In the years of my trading, I have met many of such people, who invest a whole lot of money when they’re just a newbie.
When I was in college, I met a trader, who, after trading back and forth, lost more than 7,500 USD. Then he traded with me for a period of time, and I talked with him for many days without giving him any trading opinions. As a result, I did it myself and then told him my opinions.
I kept telling him that I wasn't sure if the order would be profitable, and he also told me that he had a small number of lots. When my order was losing money, he told me after a while that he reached margin call and was not going to continue.
Everyone has had this eager earning mentality. I have also been in this state for a long time, eager to achieve success, and trying to make a lot of money, but the market seems to have his own mind of not wanting me to succeed.
When a person is very anxious to make money, the overall operation is distorted, and any possible event has been ignored.
This is a kind of people who are enslaved by the market. They believe that there is an opportunity in the market at all times. They may feel that if they are inattentive, they will be missing the opportunity to become a millionaire overnight. But I can only say that those who are enslaved by the market will eventually become the ones who lose.
People who have experienced such an eager will acknowledge it as a counterproductive experience, so how can they have stable profit? We need to be clearly aware that the market has the following characteristics.
2. The market fluctuated in a narrow range half of the time
This is the Euro hourly chart. It can be seen from the figure that there are not a few K-lines in each box, but a dozen. What do the dozens of K-line mean? It means that the orders you hold after entering the market will not bring large profits for many hours.
This shows two situations: 1. Our entry list, if not for short-term brushing, basically will not make a profit for several hours. 2. When we entered the market, we saw various combinations of K-line patterns, and most of them would not go directly out of a wave of market.
What lessons can we learn from here?
We usually have no mentality and always like to watch the market from time to time. In fact, most of the tracking is useless. In most cases, the K-line combination we see forms a reversal signal. It is easy to be stuck for a long time based on the entry.
The solution to these two problems is to set a stop loss. Don't look at the market frequently and don't care too much about the lost opportunities. In fact, just wait for a start time and you can enter the market in the second half of the H1 cycle consolidation, using time effectively.
3. Most out of the market will offer opportunity again
I once always felt that I had missed a wave of market quotations and thought that I had lost an opportunity to make huge profits. I even sadly thought why I was hesitant at that time, and often asked others, "Do you think the market can give you a chance to pull back?"
Later, under a Buddhist mentality of doing so, I found that in most cases, my worry was redundant. Quotes even after you miss a day of gains will give you another chance to re-enter the market in a few days. In most cases, the market is of the Buddhism department, which is pondering your eager heart.
In order for everyone to clearly understand this point, the chart I have cut is the Euro H4 cycle trend, and there are not many H4 cycle K-lines in one day.
These trends are enough to show the repeated fluctuations of the sky chart. From the trends in each box, we can clearly realize that a problem is that when the opportunity is first discovered, there is often a second chance.
We missed one day's market and there was not much loss. And because people are eager to achieve success, for fear of losing a prosperous opportunity, they will chase up and kill. The consequence of such an operation is often that the market will go to the right direction again after the stop loss.
If you continue to do this, your money will be repeatedly consumed by the stop loss. Most of our losses, in addition to malicious carry orders, the retreat of funds in the remaining accounts are generated in the shock market.
What can we learn from this?
This lesson is that we must adhere to the signals prompted by our trading system to make orders, not to be driven by the rapid rise and fall of the market, and use the entry signal that the system do not prompt as the entry signal, and lose the meaning originally established by the trading system.
The above two pictures are just a visual discovery of the high probability of market occurrence. In fact, my patience in the list is based on the characteristics of the moving average.
4. How to truly integrate trading skills
In fact, many people can realize that the market is fluctuating most of the day, and even if the trend is based on the day chart, it will not easily appear for the first time, but it’s still difficult to implement.
How can we apply the knowledge to actual operation?
The answer is simple, just to deliberately train yourself. The key to achieving unity of knowledge and action is deliberate training.
Even if you miss a billion, you need to train with peace of mind. Over time, you will find that there are not so many 100 million in your life, and you will become more and more reliable. No other shortcut is to overcome human nature and deliberately temper.
Conclusion: Opportunities are always reserved for a prepared person, and in the process, the most important thing is to wait!
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
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