- Trade planning
You should research carefully and then trade, do not do the opposite. It is a common mistake for new entrants. For them, the excitement of entering the game is more tempting than sitting outside, examining and learning about the market. The mentality of the insiders is that everyone wants to win or that everyone thinks they will win. But few people will think about how to win. Trading in markets like currency, futures, options is a zero-sum game. A zero-sum game means there must be in this game the same total amount of the market (zero-sum). But there will be losers and winners, the winners ‘money comes from the losers’ pockets, not from the market.
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- Confusion when cutting lost
Don’t throw good money after bad stocks. Don’t learn to cut loss, don’t trade.
- Trend
The main lesson of trading in all markets is to follow the already trends. That’s called TREND. A trend is sometimes in waves, like waves, uptrend, and downtrend. You should know never trying to find the two most important points of the market. That is the top and bottom.
So, the third lesson in the game is also the learn for survival. Peaks and lows often appear at times when you don’t expect them most, and only after they appear do you realize that it is a trader’s habit to buy low and sell high. The market habit is not to buy low, and not to sell high, just selling the middle is good. If you can do that in the long term, you will be rich enough.
- Discipline
Trading reflects the personality of each person in the game, new traders often only pay attention to buying and selling, rarely thinking about their actions. For them, trading will be the decisive success in trading.
During the trading process, traders will gain a lot of personal experience. Lessons learned can be through the most painful times. Based on this, traders set up for themselves several individual methods that only they can correctly apply.
- Stop loss order
Never cancel a stop loss order after you’ve finished placing your order. You or anyone else cannot predict when people will change their view of the market, and the price will change. So the method of protecting yourself is a stop-loss order.
- Buy high price & low price sell
This is a kind of trading momentum that was very prevalent in the years before 2000 in the United States. In my own experience, when you buy high, you have to redefine the market trend. The trend is longer, longer, and especially the more stable. “Sell low”: This is relatively harder than buying high, the reason is that most people in this position are often losing, and selling holes is something few people like to do.
- Accepting to win or lose is normal.
- Winning in trading is not because of the ability to predict the future market direction. It is the cause of the ability to gain a lot of profits.
- Better lose your face than lose your money.
- Have you ever suffered a mistake in your trading? IF YES, FORGET IT. On the contrary, have you ever made a profit in the trading? IF YES, FORGET IT FASTER.
Cong Ty BITANO Chuyen Mua Ban BTC, ETH, USDT
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