As you know today BTC has a strong correction from 29k to 28k and is sideway at 28k2. The psychology of traders was also shaken when the price of BTC decreased a bit but altcoins fell quite a lot (including me in SUI from $ 1.35), but when looking back at the problems that happened, a lot of brothers had differences. excuses for this type of beat, some examples are: – I hit a big beat, W-frame, M-frame or something. – I play extremely small volume but my armor is big, I’m not afraid to go up to 1000 prices – Price is a wave, if you go up, you will go down, once you go down, I will suck it up And there may be thousands of other reasons that you You can think of while looking at your accounts getting less and less. Trading has many schools, I admit that. There are people who specialize in reversing, seeing the ship rush into the bumper. There are people who have a wide range of ratings, and many hands. But in all these schools, they always adhere to 2 things that many people do not understand, thinking that everyone is the same. Rule 1: Traders must have a full forecast of the price trend before entering an order. Wrong or right, the market answers but if they look down, they will have to know where to stop, and where to stuff orders. The same is stuffing when adding sound, but each stuffing point must always be in a strong zone (ht/kc, key level, sp/dm zone… depending on the name of each man). And only stuff when there are signs of support, ie not against the market regardless, knowing you are wrong will slow down. Guys like him are guys who didn’t have a specific trading plan in the first place, he just wanted the market to go the way he thought it would to make a profit, the more negative he was, the more he held on to the thought that it would be right. , it never admits that it can be wrong on its own. The root of this thinking is that the past can be eaten 9/10 times = such a game. But the 10th time, after a series of confidence builds up, greed is stimulated. The last time will take from them both capital and profit. Principle 2: Traders must always know how to manage capital, ie calculate risk, calculate the amount of money that can be lost when entering an order. And always prioritize capital protection before thinking about making profit. Going back to rule 1, traders think they might be wrong. Despite stuffing orders, in the ups and downs of the market, they will always try to remove orders, so even if they open 10 orders in the same direction, after an optimal time. They will only hold 3 or 5 negative orders. And if the price goes down they may consider opening the order again. As for the gamblers, it will never close the order. Only stuffing and stuffing. After 1 period. We can close 1/2 of a negative order. They will have 50% new negative commands. Tk of this team in a long wave, only continuously increased pressure. The drawdown rate is always extremely high. With luck it lives. Due to the pressure that has been under full load for so long, plus the personal view is not sure, when it comes to a draw or a profit, it will be the first to close. Then sit back and meditate with that little profit, forgetting all the previous negative-sounding process. As for traders who reverse or wide dc, they are sure of the beat and they will go for the long haul. They calculate the risk so they know, when it is negative 1 stride, it must be positive 1 stride to be closed to go long. Looks the same, actually different. If you are meeting someone show you how to trade like that. Stay away from them. Don’t look at the profits they show off for a few weeks or months and think they’re right. Trader is a very silver job, 1 mistake, 1 stupidity, 1 bad luck can take many months of profit. Traders think of profits by year, for years. No one thinks in terms of days or months. P/S : this is my share, currently I am still DCA and the liquidation price is also quite low. However, in this May, there is a saying “Sell in May and go away”, so the money in someone’s wallet is kept. Hope everyone makes a lot of money
Source: Collector
