Source: Kigaku Club

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These five have all experienced various market environments, made hundreds of steel, and made amazing profits. They have some common views and characteristics:

1. Only by working hard can we reach the best level. It's the same as any other industry.

2. They carefully record and analyze their trading mistakes. When funds are lost, they review their actions and decide to analyze what caused their losses.

3. They overcome their emotions by formulating and resolutely enforcing trading rules. They realized that emotions are the worst enemy of trading, so they created a set of trading rules to defeat themselves.

4. They all have great goals; no small wealth is safe.

5. They can respond quickly to changes and make changes in a timely manner.

6. Never trust insider information and never trade according to others' suggestions. Almost all of them have suffered huge losses by following the advice of an “expert.” It's changed since then.

7. After they make money, they will withdraw their reserves to prevent accidents.

8. They all believe that the market cannot always provide the most favorable trading environment, so staying in the market to trade is not a prudent strategy.

They pay attention to the overall market environment (that is, what we call looking at the big market and making individual stocks; they just don't care about the daily “range” of the market, the highs and lows; they are concerned about the overall trend of the market), so it's time to take a break.

9. Their primary trading rule is to control losses when losses are suffered. Basically no more than 10% of the stock position.

Their transaction failure rate is close to 50%, which is about the same as throwing a bad deal. The difference is that they stopped the wrong trades in a timely manner!

10. They like to buy strong tickets, and they always choose the leading stocks in the leading sector in a wave of bull markets.

11. They rarely “throw high and take low” and always complete a band.

12. They all like to use the pyramid trading method. When the stock price develops in the opposite direction as expected, they never flatten the cost downwards, but simply cut it out. On the other hand, when they find the right buy, they keep increasing their positions, and don't hesitate to “catch up”.

13. Their main hero in obtaining huge profits is holding profitable stocks.

14. They all discovered that no one can buy stocks at the lowest price and sell stocks at the highest price. They followed changes in the market and acted according to market behavior rather than continuing to hold stocks with hopes and fantasies.

II. Characteristics of top traders

1. Focus and enthusiasm;

2. courage;

3. patience;

4. perseverance;

5. self-analysis;

6. Self-discipline - the most important characteristic;

7. an open mind;

8. Stop-loss appearances;

9. Smart and quick to respond to numbers;

10. Strong energy and professionalism;

11. Perseverance to pursue dreams;

12. competitive mentality;

13. speed and elasticity;

14. The mind is often shaped by many unique experiences;

15. Has some motor cells;

16. Omnidirectional.

III. Trading Suggestions

A. Trading philosophy

1. Swiss approach: treating the transaction partner without emotion — objectivity and neutrality;

2. Not trading is a spirit of self-discipline — a very important norm;

3. In the trading market, opportunities will definitely knock twice;

4. Benchmark for success: Whether the plan is being followed;

5. The market is the best disseminator of company information;

6. Set trading goals, think about trading motivations, and everything needed to achieve the goals;

7. Record the transaction experience in the transaction log and read it at any time;

8. Focus on the trading system and don't focus on profit and loss results;

9. Appropriate mentors need to have a trading mentality and style similar to their own;

10. Improve control ability, accumulate chances, and reduce the element of luck as much as possible;

11. For a transaction, the optimal structure doesn't have to be complicated;

12. For long-term profit, the dynamic potential of a transaction should be several times greater than the potential loss;

13. Trade step by step: one bean at a time;

14. Find successful traders and imitate them;

15. Only by adhering to your own trading plan can you improve the accuracy of timing;

16. Focus on the future rather than the past;

17. Keep an eye out for changes in profitability;

18. If you want to establish an ideal deal, you must confirm this, take advantage of the sails, and extract profits as much as possible;

19. According to the system, claiming claims in a timely manner is a sign of success.

B. Risk control

1. The initial loss is the smallest loss;

2. You're not bound by the law of compensation, because this law is under a higher rule: if you make a mistake in your judgment, you should play right away. Although loss usually represents an error of judgment, this may not always be the case;

3. Using profits as reserves for losses, I think this is a very important attitude;

4. I'd rather miss an opportunity than lose money;

5. Pre-evaluate various response actions;

6. Keeping losses low is equivalent to generating large profits;

7. The maximum amount of loss allowed to occur at the set part;

8. Good traders hate risk and forestall the possible outcomes of mistakes.

C. Mental control

1. A resilient mindset is a profit mentality;

2. Patience is a fundamental element of risk management. If you don't have patience, you're likely to seize inappropriate opportunities and increase the risk your part bears. Lack of patience stems from fear or greed;

3. Trade according to your own personality;

4. Identify the three types of fears: fear of missed opportunities, fear of success, and fear of failure;

5. Identify the reasons for fear of success and neutralize the problem; focus on the benefits of success rather than the pressure;

6. In a deserted and dull market, be sure to pay attention to the “itchy hands” problem;

7. Be aware of the mentality of paranoia;

8. You must never have emotional attachment to any part;

9. Loss: Feel the pressure of fear to avoid repeating the same mistakes;

10. Confidence must be reconciled with introspection;

11. There's no need to be smarter than the market; don't let your self-esteem prevent you from claiming claims early;

12. Trading can't always be fun, and sometimes you have to have perseverance to get through difficult times.

D. Trading systems

1. A trading system is a trading plan that shows what you should do and when. Traders must maintain confidence in their systems;

2. The easiest way is to look for a long-term trend line and buy near the trend line;

3. An ideal plan requires at least two qualities: one is to clearly show the timing of entry and exit; the other is that the trading plan has been tested and shows stable vitality, while also considering risk and capital management.

Editor/jayden