1. First Principle Thinking - Return to essence, break down to the most basic truths (Elon Musk's business weapon) 2. Compound Interest Thinking - Be friends with time, resist short-term temptations (the eighth wonder of the world) 3. Occam's Razor - Entities should not be multiplied unnecessarily (simplicity is the most efficient) 4. Bayesian Thinking - Continuously revise your probabilities based on new information (the core of rational decision-making) 5. Survivorship Bias - Don't only look at the successful; the dead don't speak (the silent truth of data) 6. Law of Entropy - A system without energy input will inevitably descend into chaos (the physical essence of self-discipline) 7. 80/20 Rule - Focus on that 20% of core high-value areas (the leverage of efficiency) 8. Reverse Thinking - Think from the opposite direction, always think in reverse (Charlie Munger's favorite) 9. Anti-Fragility - Gain from uncertainty and volatility (what doesn't kill me makes me stronger) 10. 12345678901 - A placeholder for a random number.
When you learn to sit in front of the giant waves, that moment, you truly stand up.
When prices soar, people forget their fears. When prices plummet, people forget their rationality. We think we are trading prices, but in reality, we are trading the temperature of emotions. I have also felt my palms sweat in such moments, as if pressing that button, would rewrite destiny. Only later did I understand, what truly rewrites destiny, is never that one impulsive entry, but the countless times of holding back from exiting. Livermore said that sudden movements in price, often do not give you opportunities, but are testing your discipline. A surge does not equal a trend, and a drop does not equal the end. They are more like a gust of wind,
Today, perhaps you are feeling disheartened again due to a loss, staring blankly at that string of numbers, doubting whether you are really suited for trading. I understand this feeling... because I have also been knocked down countless times, in the storm of the market, lonely enough to just want to turn off the screen and never look back. But later I understood that those who can truly survive until the end, are not those who never make mistakes, but those who are pressed into the mud by the market time and time again, and still manage to get back up. Livermore said: the success of a speculator, is not in avoiding losses, but in how to deal with losses.
$GIGGLE started launching, life also pulled in, skyai I'm also in the car, haha, there's only one mainstream sol long position, steady, this time is different
You feel heartbroken after stopping loss once, while others can stop loss three hundred times in a year without changing expression. You want to increase your position to average down after a 5% loss, but experts don't have a unified stop-loss number. There is only one universal rule: if you're wrong, get out. It's not about how much you lost, but whether the logic has broken. Those who trade short term die from hesitation, those who follow trends die from fluctuations, but only those who have rules live the longest. Others strictly enforce discipline and cut losses without blinking. You are always waiting for 'to rebound and exit', 'to rebound and exit', 'to rebound and exit', only to end up in a limit-down. Tough people never get emotional with the market. They write stop-loss into their trading plan and execute it as naturally as eating and drinking. Losses of 100,000, 200,000, 500,000, 1,000,000, they only ask one question: does the rule say to cut? Then cut.
Livermore said: My biggest mistake was not how much I lost, but not recognizing my mistake immediately. You take this saying as motivational, but he takes it as a life-and-death line. Stop-loss is a painful thing in trading, but it is also a sacred thing. Each time you cut your position is like burying the old you into the ground. The more decisively you cut, the faster you will rise like a phoenix. Don't ask 'can this stock be saved anymore?' The only thing that can save you is your own cold rule. Better to cut losses a thousand times than to blow up once. One time is enough to ruin you completely. Ten years later, while others are still praying for a rebound in the market, you have long since turned stop-loss into instinctive breathing.
$GIGGLE After a surge yesterday, it retraced to the 0.618 support level, then stabilized again. Is it going to continue rising now? I got on board, target 80.