These are investment principles that you should not ignore if you want 2023 to become a successful year for you in this field.
Investment principles that you need to know:
During many years of trading, I have seen many investors and traders not setting stop loss. And eventually I don't see them trading anymore. Always set stop loss when entering orders.
A successful trading day is not a profitable trading day. It means that that day you followed the trading plan you set out. Prepare a trading plan and trade according to it.
A professional trader does not care about profits, they only care about how much they will lose on this trade.
When you make a mistake, make the consequences as small as possible. Don't make the mistake of losing so much that you can't recover your account.
Investing is a battle of perseverance, the ability to endure, and overcome failure. Every investment, whether successful or unsuccessful, will bring you a valuable lesson. Don't let your losing orders slip away as if nothing happened. That's you throwing money out the window.
Trend is your friend. Always following the market trend will bring a higher winning rate than going against the trend.
Invest with money that you allow to lose, and if it does, it won't affect your life. Never borrow to participate in this game because it can cause you to fall into extreme poverty at any time.
Winning in the market is brought about by the following three factors: Knowing the reasons for buying and selling, managing capital well, and managing risks well.
Always put risk first, you should know if you lose, how much you will lose, and if you win, how much you will gain.
Investing is a game of patience. You should only put money down when you see a good opportunity, don't trade if the market is in an unclear period. There are periods when cows make money, bears make money, and only pigs get slaughtered.
So in the end, what do you want when entering the market?
The question is not how much, but how long. When you can survive long enough with the market, money will naturally come to you.
