The biggest takeaways from this trading period are two points—never let emotions control you, and proper position management is essential.
To be honest, position management is the most fundamental bottom line in trading. Losing money? Don't worry, you still have ammunition, and you can slowly earn it back. But if you get liquidated or go to zero, then you truly have nothing left, and there’s no chance to turn things around.
After observing around, most people who are losing money have fallen into the same trap—emotional trading. Impulsiveness, greed, panic—when these emotions take over, rational risk control is thrown out the window. Just sharing this for your reference: when trading, you must stay clear-headed; emotions are the biggest enemy in trading.
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The biggest takeaways from this trading period are two points—never let emotions control you, and proper position management is essential.
To be honest, position management is the most fundamental bottom line in trading. Losing money? Don't worry, you still have ammunition, and you can slowly earn it back. But if you get liquidated or go to zero, then you truly have nothing left, and there’s no chance to turn things around.
After observing around, most people who are losing money have fallen into the same trap—emotional trading. Impulsiveness, greed, panic—when these emotions take over, rational risk control is thrown out the window. Just sharing this for your reference: when trading, you must stay clear-headed; emotions are the biggest enemy in trading.