How to Avoid Breaking Your Backbone with Trading
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I would like to talk about how some people break their backbone with trading and how to avoid it.
Many come to trading on the recommendation of video bloggers, most of whom do not even trade, but simply create content and express their opinions.
Moreover, this point of view is clearly wrong and based only on their expectations.
This is similar to having a surgeon operate on you instead of a person who waited in line to see the doctor, but was given a scalpel in his crocked hands.
Do you get the idea?
Those who do not trade themselves, at least do not have above average knowledge gained from years of experience and successful survival in the market without outside help. have no right to express their opinions to a wide audience.
You have to put yourself in the reader's shoes, evaluate and project the reader's experience and thoughts, whether certain knowledge will be useful for them.
I know a lot of shillers whose goal is to support their bags.
When I asked, "What's that for?"
I received such a mentally unhealthy answer that my opinion of them changed drastically.
Driving people into a coin, cool!
Absolutely not cool. Age is an important factor in forming your point of view. Do you think a twenty year old can teach people anything?
-No.
Yes, I agree, age is not a vice, and there are many wise people. But according to my personal statistics, the older a person is, the more he sees the root and the events that will happen in the future. He analyzes and sees what can be done and what is categorically impossible.
Will the information be useful to the readers? Will the most inexperienced of those who read the post make a profit? Will they blame me?
Its clear that everyone has his own head or his shoulders. In the field where there is finance, it is necessary to strictly understand that there is no money button, and there never was.
After all, we're not here to play, we're here to make money.
This is the first barrier that often breaks the psyche of a person who comes to trading for the first time.
This is a deposit drawdown, knocked out stops and a desire for quick enrichment.
Of course, you can find tens of thousands of
examples when young people got lucky in trending, especially in a bull market
But, as you know, most of these lucky ones last their deposits to zero. Do you know why? They had neither knowledge nor experience.
It is not worth looking at such cases and taking them as dogma.
The first step is to become a person:
If you have decided to move on and become financially independent, the first thing you should do is to familiarize yourself with books on financial literacy
From the outside this advice looks like complete nonsense, why read a book when ! can trade right away?
The answer will be short-if you don't read it now, it will come back to you later. It's better to work out all the nuances now than to scratch your head and think. "I should have read more.
Step number two- don't rush:
Again, this may seem like stupid advice, "I NEED TO MAKE MONEY NOW! I NEED IT," but let's make a logical chain. Let's consider some cases from life and my personal experience, try to find similar cases in your practice for clearer confirmation.
While you are reading books, learning. hardening your psyche and observing the market, you make 1-4 trades per month. You focus on honing discipline and some trading strategy, improving yourself and beginning to realize what trading really is
Others - those who have decided that they cannot wait and need to make money now- stare at the chart every minute. The most interesting thing is that most of them do it on a minute-by-minute basis-playing in a casino, making a lot of entries here and there, Yes, they may earn more in the first few weeks or months.
But such casino players will lose ALL of their deposit in the long run, whether it's six months or a year, Time flies very fast.
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