I am Guzi, and by the end of October this year, I will have been in the industry for seven years and four months.
These seven years have passed in the blink of an eye, it feels just like yesterday when I first entered the industry. The time when I just started is still vivid in my memory, and thinking back on it now is quite painful.
There is a saying from a big shot, who is now free and has done many meaningful things, donating several hundred million. This big shot was born in 1992, one year younger than me. Back in 2012 or so, he was working while trading. When he was close to a margin call, he knelt down in front of the computer, pleading for it not to blow up, as that was really all his capital at that time; even his ticket home was in that wave of market. Later, a colleague who returned to the industry saw him and didn't understand how such an absurd industry could still exist in the world. After seeing his story, I felt a lingering emotional turmoil. I often watch his videos to motivate myself.
He said that if you plan to trade, you need to learn how to get through a difficult and extremely impoverished period. I deeply agree, as it is a lesson learned from my past; success and failure both come from trading.
It may be related to a person's character; some people can avoid this step very well. Brothers, pay attention, it is extremely poor, to what extent is it poor? Poor to the point that your entire fortune does not exceed 100 yuan in cash, poor to the point that you are heavily in debt, poor to the point that you are isolated by friends and family. Because trading in this industry is not truly understood by the general public, those who understand it get it, while those who don't, no matter how much you say, it doesn't make much sense. Newcomers are not advised to enter the industry (it's a warning), experienced traders who have succeeded have already succeeded, and those who haven't succeeded are basically still struggling in the quagmire. In the past few years, how much has been lost is clear to everyone in their hearts; it's not just money, but also your friends, your time, energy, and perhaps a few years of youth.
If you want to survive in this industry, have faith and dreams in this field, I think there are the following points to achieve, or at least try to achieve:
1. Normal psychological state: Because only when your psychological state is normal can you view this market calmly, understand the logic behind each segment of the trend, clarify its logic and trends, and only then can you take a sip of soup in this market.
2. Emotional Management: I believe I don't need to say much about this, as 90% of losses are caused by emotional trading, including holding onto positions and chasing highs or lows after missing out. Emotional trading stems from your eagerness to recover losses, your urgency to make up for the previous trade's losses. When you're already emotionally out of control, how can you expect to recover? How can you maintain a normal psychological state? When everything is lost, you start worrying about your principal. I have fallen into this cycle many times.
3. Do not hold onto positions, do not hold onto positions, do not hold onto positions. Those who have experienced the dangers of holding know it well, so I won't elaborate. Just remember one thing: an unresolved floating loss is always a floating loss. Especially do not add margin or average down when the floating loss situation is unclear. You may be able to recover once, twice, or three times, but sooner or later, you will SI here. You must respect the market. I have seen many people who made a thousand times profit only to return to zero, and I have also experienced nearly a thousand times myself.
Sometimes we need to change our perspective; we are here to make money, not to break even. Being stuck in a position for ten days or half a month greatly affects subsequent operations. Once you're holding a position, your future actions become very unclear. If you were clear-minded, you wouldn't be holding a position but rather would be making counter-trades to recover your losses. When you are holding a position, your mindset is that you hope the market moves in the direction of your position to give you an opportunity to break even.
4. Try to develop a set of your own operating system and strategy, and stick to it. This system includes entry signals, defense signals, exit signals, as well as signals for increasing and decreasing positions. The logic and strategies in all aspects are included. I don't know how many people really understand what trading systems and strategies are, or if they are just simple guidance of the literal meaning. Has anyone really dissected this thing? Has anyone truly understood the risks of trading and established a good defense mechanism?
It's quite funny to say, after more than seven years of trading, I was really confused when a very close brother asked me face to face this year. That's when I truly started to pay attention to this thing and improve it, in a real sense. I needed to improve psychologically and behaviorally, not always thinking about flipping accounts, conquering the market, or fantasizing about a villa and a luxury car. Once you amplify your desires, the result is invariably a liquidation. You need to conquer yourself, overcome your own desires, fears, and the temptation of luck.
Currently, I sometimes can't help it, often making mistakes and being eager to place orders. Sometimes I am also driven by emotions, resulting in not very good outcomes. However, I am working hard to overcome this because I want to survive in this market. I love this market, and I still have dreams. I never consider myself a teacher; I am just a practical trader. I want to document my real experiences and practical experiences through writing, reflecting myself, allowing me to see my current situation at any time, and helping myself grow. I habitually record my work, my growth, and my life. If my experiences can help more people, then I believe these are valuable and meaningful.
There is no holy grail in trading, no 100% win rate or strategy, so trading is essentially a lifelong learning process, respecting the market.
During the toughest times, some advised me to quit and find a good job, while others urged me to let go and not be so attached. I didn't know what to say, but I knew I couldn't just quit like that. I had to leave something behind, not for anyone else but for myself, to account for all these years of perseverance.
I don't know when I will turn the tables, when I will be free; the answer is on the way. After I achieve my goals (the current demand is 3 million), I will repay those who have helped me. After that, I will temporarily exit this market to make up for the ups and downs I have experienced over the years.
The road ahead is long, who will walk with me?
Last aside:
1. Daily and regular technical analysis, the significance of the summary lies in the fact that this is a process of understanding the market and knowing oneself.
Second, trading is actually a process from chaos to clarity.
Third, without holding onto orders, there is no possibility of profit; profits must come from large fluctuations.
This is written by someone who has been recording during their growth process, and it is evident that they have a clear and profound understanding of the market.
In the market, many people only focus on the price, but forget about themselves.
They think the market determines everything,
In fact, the market is just a test paper, and the answers have long been written in your nature.
Greed will make you increase your bets when you're in profit, until everything goes to zero,
Fear will make you sell at the lowest point, and then watch it rebound with your eyes wide open.
Impatience will make you want to act at any moment...
Patience, however, is the most expensive ticket in the market...
Lifermore said: Big money is not in buying and selling, but in waiting.
I used to not understand, until I sat in front of the screen countless times, watching the market fluctuations like tides.
Finally understand, experts are never the ones who predict tomorrow.
But rather those who can endure today.
It reminds me of a scene from "The Way of Heaven."
In the heavy rain, Rui Xiaodan was almost hit by a bullet, and she called Ding Yuanying.
Ding Yuanying said: In this life, having you as my confidante is enough...
At that moment, the camera froze in the embrace, raindrops falling on the shoulders,
But they were no longer afraid in their hearts, because they had grasped the most precious thing.
I see the market is the same.
Most people spend their whole lives chasing prices.
but has never found a kindred spirit that belongs to them.
That is the heart of determination and wisdom.
No matter how turbulent the market is, it can't shake you.
Because you know, if in this life one can have a mind that accompanies them, that is enough.
Left for you in the wind and rain,
Also left for myself who is throwing while looking for a soulmate.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
I am Guzi, and by the end of October this year, I will have been in the industry for seven years and four months.
These seven years have passed in the blink of an eye, it feels just like yesterday when I first entered the industry. The time when I just started is still vivid in my memory, and thinking back on it now is quite painful.
There is a saying from a big shot, who is now free and has done many meaningful things, donating several hundred million. This big shot was born in 1992, one year younger than me. Back in 2012 or so, he was working while trading. When he was close to a margin call, he knelt down in front of the computer, pleading for it not to blow up, as that was really all his capital at that time; even his ticket home was in that wave of market. Later, a colleague who returned to the industry saw him and didn't understand how such an absurd industry could still exist in the world. After seeing his story, I felt a lingering emotional turmoil. I often watch his videos to motivate myself.
He said that if you plan to trade, you need to learn how to get through a difficult and extremely impoverished period. I deeply agree, as it is a lesson learned from my past; success and failure both come from trading.
It may be related to a person's character; some people can avoid this step very well. Brothers, pay attention, it is extremely poor, to what extent is it poor? Poor to the point that your entire fortune does not exceed 100 yuan in cash, poor to the point that you are heavily in debt, poor to the point that you are isolated by friends and family. Because trading in this industry is not truly understood by the general public, those who understand it get it, while those who don't, no matter how much you say, it doesn't make much sense. Newcomers are not advised to enter the industry (it's a warning), experienced traders who have succeeded have already succeeded, and those who haven't succeeded are basically still struggling in the quagmire. In the past few years, how much has been lost is clear to everyone in their hearts; it's not just money, but also your friends, your time, energy, and perhaps a few years of youth.
If you want to survive in this industry, have faith and dreams in this field, I think there are the following points to achieve, or at least try to achieve:
1. Normal psychological state: Because only when your psychological state is normal can you view this market calmly, understand the logic behind each segment of the trend, clarify its logic and trends, and only then can you take a sip of soup in this market.
2. Emotional Management: I believe I don't need to say much about this, as 90% of losses are caused by emotional trading, including holding onto positions and chasing highs or lows after missing out. Emotional trading stems from your eagerness to recover losses, your urgency to make up for the previous trade's losses. When you're already emotionally out of control, how can you expect to recover? How can you maintain a normal psychological state? When everything is lost, you start worrying about your principal. I have fallen into this cycle many times.
3. Do not hold onto positions, do not hold onto positions, do not hold onto positions. Those who have experienced the dangers of holding know it well, so I won't elaborate. Just remember one thing: an unresolved floating loss is always a floating loss. Especially do not add margin or average down when the floating loss situation is unclear. You may be able to recover once, twice, or three times, but sooner or later, you will SI here. You must respect the market. I have seen many people who made a thousand times profit only to return to zero, and I have also experienced nearly a thousand times myself.
Sometimes we need to change our perspective; we are here to make money, not to break even. Being stuck in a position for ten days or half a month greatly affects subsequent operations. Once you're holding a position, your future actions become very unclear. If you were clear-minded, you wouldn't be holding a position but rather would be making counter-trades to recover your losses. When you are holding a position, your mindset is that you hope the market moves in the direction of your position to give you an opportunity to break even.
4. Try to develop a set of your own operating system and strategy, and stick to it. This system includes entry signals, defense signals, exit signals, as well as signals for increasing and decreasing positions. The logic and strategies in all aspects are included. I don't know how many people really understand what trading systems and strategies are, or if they are just simple guidance of the literal meaning. Has anyone really dissected this thing? Has anyone truly understood the risks of trading and established a good defense mechanism?
It's quite funny to say, after more than seven years of trading, I was really confused when a very close brother asked me face to face this year. That's when I truly started to pay attention to this thing and improve it, in a real sense. I needed to improve psychologically and behaviorally, not always thinking about flipping accounts, conquering the market, or fantasizing about a villa and a luxury car. Once you amplify your desires, the result is invariably a liquidation. You need to conquer yourself, overcome your own desires, fears, and the temptation of luck.
Currently, I sometimes can't help it, often making mistakes and being eager to place orders. Sometimes I am also driven by emotions, resulting in not very good outcomes. However, I am working hard to overcome this because I want to survive in this market. I love this market, and I still have dreams. I never consider myself a teacher; I am just a practical trader. I want to document my real experiences and practical experiences through writing, reflecting myself, allowing me to see my current situation at any time, and helping myself grow. I habitually record my work, my growth, and my life. If my experiences can help more people, then I believe these are valuable and meaningful.
There is no holy grail in trading, no 100% win rate or strategy, so trading is essentially a lifelong learning process, respecting the market.
During the toughest times, some advised me to quit and find a good job, while others urged me to let go and not be so attached. I didn't know what to say, but I knew I couldn't just quit like that. I had to leave something behind, not for anyone else but for myself, to account for all these years of perseverance.
I don't know when I will turn the tables, when I will be free; the answer is on the way. After I achieve my goals (the current demand is 3 million), I will repay those who have helped me. After that, I will temporarily exit this market to make up for the ups and downs I have experienced over the years.
The road ahead is long, who will walk with me?
Last aside:
1. Daily and regular technical analysis, the significance of the summary lies in the fact that this is a process of understanding the market and knowing oneself.
Second, trading is actually a process from chaos to clarity.
Third, without holding onto orders, there is no possibility of profit; profits must come from large fluctuations.
This is written by someone who has been recording during their growth process, and it is evident that they have a clear and profound understanding of the market.
In the market, many people only focus on the price, but forget about themselves.
They think the market determines everything,
In fact, the market is just a test paper, and the answers have long been written in your nature.
Greed will make you increase your bets when you're in profit, until everything goes to zero,
Fear will make you sell at the lowest point, and then watch it rebound with your eyes wide open.
Impatience will make you want to act at any moment...
Patience, however, is the most expensive ticket in the market...
Lifermore said: Big money is not in buying and selling, but in waiting.
I used to not understand, until I sat in front of the screen countless times, watching the market fluctuations like tides.
Finally understand, experts are never the ones who predict tomorrow.
But rather those who can endure today.
It reminds me of a scene from "The Way of Heaven."
In the heavy rain, Rui Xiaodan was almost hit by a bullet, and she called Ding Yuanying.
Ding Yuanying said: In this life, having you as my confidante is enough...
At that moment, the camera froze in the embrace, raindrops falling on the shoulders,
But they were no longer afraid in their hearts, because they had grasped the most precious thing.
I see the market is the same.
Most people spend their whole lives chasing prices.
but has never found a kindred spirit that belongs to them.
That is the heart of determination and wisdom.
No matter how turbulent the market is, it can't shake you.
Because you know, if in this life one can have a mind that accompanies them, that is enough.
Left for you in the wind and rain,
Also left for myself who is throwing while looking for a soulmate.