Livermore’s Trading Rules
When you look back at your trading records, you’ll probably notice a pattern: what truly makes you profit are the few trades you waited a long time to execute. What truly bleeds you are the trades you thought, “I could probably do something with this.”
Livermore once said a line that’s been quoted to death: it’s rare to find someone who can both judge correctly and insist on staying still. People stick this quote all over their computer screens, but no matter how they post it, they still can’t control their hands.
Why? Because waiting doesn’t produce dopamine—placing an order does.
For most traders, their whole life is spent paying for their brain’s dopamine. Being flat and waiting is tedious and boring, with no thrill;
Only when you click to place an order, and the P&L ticks and jumps with your position, does the brain release dopamine to give you an immediate emotional reward. That’s when you can’t help but open trades frequently—using trading to fill emptiness—until, in the end, you give your profits back to the market little by little.
The essence of trading is to fight the instinct of dopamine, and to learn to wait in boredom for the opportunity that belongs to you!
#BTC走势分析
When you look back at your trading records, you’ll probably notice a pattern: what truly makes you profit are the few trades you waited a long time to execute. What truly bleeds you are the trades you thought, “I could probably do something with this.”
Livermore once said a line that’s been quoted to death: it’s rare to find someone who can both judge correctly and insist on staying still. People stick this quote all over their computer screens, but no matter how they post it, they still can’t control their hands.
Why? Because waiting doesn’t produce dopamine—placing an order does.
For most traders, their whole life is spent paying for their brain’s dopamine. Being flat and waiting is tedious and boring, with no thrill;
Only when you click to place an order, and the P&L ticks and jumps with your position, does the brain release dopamine to give you an immediate emotional reward. That’s when you can’t help but open trades frequently—using trading to fill emptiness—until, in the end, you give your profits back to the market little by little.
The essence of trading is to fight the instinct of dopamine, and to learn to wait in boredom for the opportunity that belongs to you!
#BTC走势分析