As the saying goes, "A dragon gives birth to nine sons, each one is different." Everyone in the world is unique, just like there are no two leaves that are exactly the same. Naturally, everyone's personality is also different. Despite this, personality can still be divided into several categories, and personality has a certain correlation with career choice. For example, teachers tend to be more patient, doctors are careful, and business people need to be extroverted, agile and eloquent. Everyone will choose their own career based on their own personality and actual situation. They can choose the one that suits them or is relatively suitable for them. In any industry, as long as they work a little bit, they can do better little by little. It can be said that the input and return are basically linear.
The trader industry is special because it requires a lot of people to have high qualities in many aspects, so many people give up. Let's first talk about what we need to do to make a good deal. These can reflect our personality and find our own shortcomings.
(1) Find a good entry point and look for opportunities for multiple resonance points: The point is the most critical and the first step to a good transaction. Trading can be roughly divided into finding a point to enter the market and chasing orders. If you find a good point to enter the market, you can set a narrower stop loss, and then gradually increase the stop loss according to the rules. This is very beneficial for holding orders. If you chase orders, you can only set a speculative loss, which is a fixed stop loss. The market is likely to repeatedly sweep away the stop loss and then continue to move forward. Watching your profits being gradually swallowed up is a major psychological test, so entering the market at a good point is a key step to success. When looking for points, look for more resonant points, that is, the points expected by the public psychology. This requires us to have a patient character. Good points are all waited out.
(2) Set an acceptable stop loss: Stop loss must be set, and it is also the key to whether you can continue to survive in the market. The first consideration when trading is not how much money you can make, but whether you can survive in this market and not be swept out by the market. There is a big difference between futures and stocks. As long as you enter the stock market and the company does not go bankrupt, your order will basically always exist. Futures are different. As long as you do not set a stop loss, it may take only a few minutes to lose all your money. In order to survive in the market, you must make an acceptable stop loss. If this stop loss is unacceptable, such a stop loss is completely meaningless. Once the stop loss is triggered, it will also make trading emotional, directly leading to extreme danger or even liquidation of the account. An acceptable stop loss reflects the need to have arrangements and plans in one's personality.
(3) Firm belief and patience: Firm belief is reflected in two aspects. First, we must firmly believe in holding orders. Once a transaction is made, we must hold the order steadily. We must also firmly determine the direction of the order. For example, if the market breaks after the stop loss is swept after a long order, we need to make correct judgments on whether it is a real break or the stop loss setting is unreasonable, or the support level here is not strong enough and we need to wait until the next stronger support level to continue to go long. This requires us to have sufficient confidence in our technical level and to persist.
(4) You should know that a retracement or reversal in the expected direction is a normal probability event: the rise and fall of the market has always been a reciprocating cycle. We all think that once we enter the market, the market will rise or fall all the way to the stop profit, which is almost impossible. Generally speaking, there are several situations after entering the market, and the market will go in the opposite direction of the expected direction. Going in the expected direction and then having a continuous retracement that eats up your previous profit is the most painful time for traders. They have to choose to close the position or continue to wait. Continuing to wait may turn profit into loss, and closing the position will greatly reduce the profit you may have just made. Faced with such a choice, they often hesitate and finally leave the market quickly until a floating loss really occurs. However, just when they stand, the market turns around and goes in the opposite direction. This happens frequently, and it is even more difficult to grasp this degree. For this, you must continue to learn and learn more about the market.
(5) Accept losses rationally: Even for great traders, triggering stop loss is an inevitable event after a matter of time, but everyone's response to stop loss is very different. Some people may accept it calmly and look for the next good opportunity, because they know that stop loss is part of trading; some people may temporarily turn off the computer to divert their attention and digest their emotions; however, more people will continue to increase their positions in the direction of the market without setting stop loss, because they no longer believe in stop loss or are tired of stop loss, which quickly joins the ranks of "heavy positions, no stop loss, frequent trading". Perhaps this method can recover losses, but once this way of thinking is formed, sooner or later you will lose all your money and be swept out by the market, and this time will not be too late. You may think that as long as I can hold the order this time, I will abide by the discipline next time. If I can really abide by the discipline next time, why not start from now on? That is just a perfect excuse for yourself. Accepting losses rationally reflects the need for rationality in your character, rather than relying on feelings. You must be calm and calm when encountering things and not be impatient.
(6) Have an expected stop-loss and stop-profit point: Before placing an order, we must consider the stop-loss and stop-profit points. The stop-profit point does not need to be too precise, and it can be moved with the fluctuation of the market. You can even close the position before reaching the stop-profit point. However, do not ignore the importance of the stop-profit point. It has a very important guiding significance for our expectations and profit-loss ratio for each transaction. Therefore, stop-profit is also part of the trading plan. You can set the first stop-profit point, the second stop-profit point, or hold it for a long time to observe the trend and make a long line. Trading is closely linked, and iron trading discipline is its guiding ideology. If any link is wrong or not done well, the next one is likely to be a thousand miles away from the truth. If you do not have the above personality traits, then you must strive to change yourself. Although "it is difficult to change one's nature", in order to do a good job in trading, you must make sacrifices and make changes, and try to maintain a good attitude. This is another step towards success.