1, don't over-trade. Many people like to watch and trade multiple currencies at the same time, which I have always disagreed with. If you trade several currencies at the same time and you lose money repeatedly, why not shorten the front line and concentrate on trading one or two currencies? In this way, you can keep up with the market and better monitor the quality of your order. And it will not increase the risk because it takes up too much margin.
2. Keep a detailed transaction diary. Write down your trading reason, planned stop loss point and target, how the subsequent trading changes, observation conclusions and lessons (wrong, right, or noteworthy model), net profit/loss. If you can keep a trading diary, you can trace back to the source, find out the clues of failure and success, and make adjustments immediately. Another point is that it is very important to fill in the transaction record sheet when entering the transaction, because recording the transaction reason accurately reflects your actual thoughts at that time, rather than your thoughts adjusted according to later development.
3. If you are still losing money under the premise of reducing the transaction currency, you'd better have a rest. Clear up your messy thoughts. You may try to trade in a simulated market to verify your judgment on the market and regain your confidence. If you still can't grasp the direction in the virtual market, you'd better seek other investment methods.
If you lose heavily in the money market, never, never put all your eggs in one basket and make fun of your life! Don't think that you can break even or turn a profit. In fact, such reckless behavior can only be counterproductive! Remember, less investment means less risk. You can expand investment then, and it's not too late to increase investment again. In a complex market where risks are everywhere, protecting yourself wisely is the experience of successful investors.
5. Patience and temperance. This is quite important. Do you follow the investment plan of each transaction? If not, please follow. Is there no exit strategy after placing an order every time? If so, your trading plan is not perfect enough. Have you no patience? Many powerful traders, who only do it a few times a year, are always quietly waiting for the opportunity to appear-they think it is a "perfect opportunity". If you are a long-term trader, you don't have to do this in every market. As long as the judgment of the general trend is accurate and the position on hand is in line with your judgment, let's take a long line to catch big fish. Don't let the market lead you by the nose.
6. Self-confidence. Have confidence in your investment philosophy. If you have no confidence in your investment philosophy, why? If your investment method really doesn't work, change it. Read the books written by successful people and see how they succeed. But we must put an end to those so-called investment secrets, success secrets, winning money and other deceptive books.
7. Work hard. If you can't study the market painstakingly, don't expect to make money in the money market. How much do you know about the fundamentals of the currency you trade? Even if your technical analysis is superb, at least you should have a better understanding of its fundamentals. For example, before the United States released some data, although the technical graph of crude oil prices was very complete, smart traders generally did not make a move before the government released important data.
In fact, every transaction is like a war. Your arrangement, your strategic planning and your every move may affect the final victory. One side of the war is you, and the other side is this market. You can't decide the market You can only get used to it, understand it and know yourself.