Last year, a fan randomly operated and lost from 100,000 U down to only 5,000 U.
His situation is actually a reflection of most people who lose money:
Frequent trading, emotional ups and downs, making several trades a day, with transaction fees dropping faster than the principal;
Stubbornly holding on without stopping losses, often saying "the bull market is back."
But what returned was not a bull market, but a total loss.
When FOMO hits, watching others flaunt hundredfold coins, he impulsively went all in, and when he woke up, his account was wiped out.
During that time, he would stare at the market at three in the morning,
Smoking one cigarette after another,
Staring blankly at the candlestick chart,
Finally asking me:
"Am I always being slaughtered by the market?"
Later, I only let him do three things.
When he came to me with 5,000 U,
I said just one thing:
If you want to turn things around, first learn to trade like a sniper, rather than spraying bullets everywhere.
Only engage in certain market trends.
Throw away the 1-minute candlestick charts, and only look at those over 4 hours.
Better to miss out than to trade randomly.
No more than 3 trades a day; if you feel itchy, step away from the market.
Discipline in rolling over positions.
The first order should not exceed 10%,
Add more only after making profits;
Take half of the profit at 20%,
Let the rest follow the stop loss;
Cut losses immediately at 5%, never average down, never fantasize.
Stop loss is life.
If you make two consecutive wrong trades, shut down immediately;
Review every day,
Know why you lost,
And understand how you made money.
With this set of rules, he slowly recovered quite a bit.
Later he asked me: "Why did no one tell me these things before?"
I laughed:
Because most people would rather blow up their accounts,
Than admit they are gambling.
Remember one thing:
Before turning around, learn to stay alive.
Discipline is always more important than skill.
What truly kills accounts,
Is not the market,
But that phrase—
"Just hold on a little longer and I’ll break even."
Now, do you dare to open your trading records,
And seriously look at how you lost?
If you currently have no direction, why not follow this rhythm to layout in advance, much better than randomly betting.