The first step, you must try to accept the fact that the entire financial market environment is uncertain.

Uncertainty covers all players in the market. When you enter a position, the odds of winning and losing are both 50/50, the same as tossing a coin. This probability is the same for big hands, sharks like hedge fund traders, investment banks, professional traders, even big super funds like the SPDR Gold Trust cannot escape this rule. The win is still only at 50% for each order only.

So how to overcome that uncertainty? The first is to accept that, and secondly to understand 2 things:
  1. You do not need to know for sure whether the price will go up or down to make money, and
  2. Every moment in the market is unique, and each order will have no effect on the outcome of another order.
First, why don't we still make money without knowing whether the price goes up or down? Because if you can ensure that you have an advantage in the trading system, have a reasonable method of money and capital management, then making a profit in the long term is sure. no matter how uncertain the market is. This is like the house's winning certainty. On each order, it is impossible to know whether to win or lose, but with 1 advantage, on many orders (hundreds to thousands), the winning or losing result can be determined with accuracy.

Second, the result of each command is unique and has no effect on the result of another command. If you have 10 consecutive losing orders does not mean the next order will be a win, if you have 10 consecutive winning orders does not mean the next order will be a loss. We must not be complacent when there is a winning streak, as well as not being confident when there is a losing streak, just accept and enter the position as usual.

The last thing that wants to remind you to win the struggle of closing a loss is to use an automatic stop loss. It is the greatest invention, when the price hits the stop loss, the order closes itself, without thinking or fighting. Let stop-loss order automatically work for you, don't think about whether to cut orders or not.