So what do you need to learn from trading white to trading master?
Huicha will show you the experience sharing of these three trading experts, and you will understand.
First of all, Marty Schwartz is a champion trader. He often lost money in the first ten years of trading and was on the verge of bankruptcy for a long time. After 1979, he became a top trader. Participated in the 10 American investment competition for four months and won the championship for nine times, with an average return on investment of 2 10%. The money he earned was almost the sum of the other contestants. He believes that the most important trading principle is fund management.
Viewpoint 1:
If I am wrong, I must leave at once. There is a good saying, if you stay in the green hills, you are not afraid of running out of firewood. I must keep my strength and make a comeback.
Viewpoint 2:
Whenever I encounter setbacks, my heart will be very uncomfortable. When most traders suffer heavy losses, they always want to recover immediately, so they get bigger and bigger and want to recover their disadvantages in one fell swoop. However, once this is done, it is doomed to failure. After I suffered that blow, I will immediately reduce my business. What I did at that time was not to make up for the loss, but to regain trading confidence.
Viewpoint 3:
Anyone who engages in trading will experience a period of sustained profitability. For example, I can make a profit for 12 days in a row, but I will definitely feel tired in the end, so I will immediately reduce my business after making a profit continuously or making a big profit. The reason for a loss is usually that you don't stop after taking profit.
2. Michael Marcos, a talented trader, joined the commodity company as a trader in August, 1974, and the company gave 30,000 US dollars as trading capital. About ten years later, the fund's return rate was about 2500 times, expanding to $80 million. He thinks the most important thing in trading is patience.
Viewpoint 1:
The main reason why I keep losing money and lose everything is that my patience is not enough and I ignore the trading principle, so I can't wait until the general trend is clear before rushing into the market.
Viewpoint 2:
Today, there are fewer and fewer trading opportunities in line with the profit principle, so you must wait patiently. Whenever the market trend is completely contrary to my forecast, I will say: I had hoped to make a fortune from this wave of market, but the market trend was not as good as expected, so I simply quit.
Viewpoint 3:
We must stick to the good cards in our hands and reduce the bad cards in our hands. If you can't stick to your good cards, how can you make up for the losses caused by bad cards? There are many excellent traders, because they don't want to stop trading when they lose money, and finally spit out all the money they earned.
When I lose money, I will say to myself: You can't continue trading and wait for a clearer market. And if you get a good card, you must hold it patiently, otherwise you can't make up the money lost by taking a bad card.
3. Bruce Kovanna is a global foreign exchange trader. From 1978 to 1988, the average annual rate of return is 87%, which means that when you invest $2,000 in his fund, your investment can grow to $2 million in 10. He believes that the most important thing in trading is risk control.
Viewpoint 1:
Whenever I enter the market, I always set a stop-loss point in advance, which is the only way to let me sleep peacefully. I always avoid setting the stop loss point at a price that the market can easily reach. If the analysis is correct, the market will never return to the stop price. If the market reaches the stop loss point, it means that the transaction has made a mistake.
Viewpoint 2:
My worst deal was made on impulse. According to my trading experience, the most destructive mistake in trading is excessive impulse. Anyone should trade according to the established trading signal, and never change the trading strategy hastily because of impulse. Therefore, not impulsive is the first priority of risk control.
Viewpoint 3:
What I want to emphasize is that you must learn to control risks in trading and prepare for the worst. So you must operate in small quantities and control the loss of each transaction between 1% and 2% of the funds.