1, I have never claimed that my win rate is higher than 50%. But I dare say that I have managed my risk versus my return effectively enough to still be able to make a profit while only being correct about 50% of the time is enough.

2, It is very difficult to see your stocks stop loss but turn up, but the risk needs to be controlled at the time it is most necessary. I also had quite a few stocks that stopped losing money but then went up again. It's just a small business cost to protect yourself from a big loss.


3, One thing you need to realize as a trader is that it doesn't matter if you call the market bullish, or bearish, or whatever. Is it important that you make money from it? Are you making big profits, struggling to break even, or even losing to SML? That's how I judge the state of the market: hard to make money, easy to make money, and struggling not to lose money. For me, there are only 3 types of markets.

4, Please respect the risks. And be accountable for your investments.

Big losses and the hard times of loss all come from the same thing .. is not respecting risk. As Larry Hite said, “If you don't respect the risk, it will eventually knock you down. Being a speculator, it would be foolish to not respect the risks, and the price to pay is a heavy loss. "


5, Livermore wrote: “Your success will be directly proportional to your honesty and your efforts to record transactions, adjust your thinking, and make your own decisions. friend." In other words, take 100% responsibility for your outcomes.

6. After a series of losses, people tend to think "maybe trading is not for me". Ask yourself, did you think the same way when you went through a series of winning orders? Of course not. Giving up is not the answer. Learning how to get through tough times and minimize risks is the answer.


7, 5 of my biggest mistakes when I first started trading:
  • Chase a stock when the price is too far from the original buy point
  • Do not cut your losses when you are a child
  • Unprotected profits and returns to the market
  • Doesn't protect your breakeven point when you have made a decent return
  • Do not enter partial orders - enter and exit the market continuously rather than slowly