I am not a financial expert but I hope that with my experience over the past 5 years I can share some of it with newcomers.
Article 1: The nature of the market is that money flows from "one person's pocket" to "another person's pocket". So are you sure you can beat those who have knowledge and experience? You may be making a profit, but is that profit within your calculations, or is it just luck? According to statistics, more than 90% of market participants lose money. Do you think you UNDERSTAND THE MARKET enough to be in the remaining 10%?
-> This is a factor of experience and knowledge.
Article 2: Burning your account or losing money is a problem that newbies will definitely encounter (sooner or later). When you lose, your emotions will want to recover the lost money and you can't control it. You may place larger orders, stubbornly holding on to losses even though you are going in the wrong direction. It's understandable, you don't have the knowledge so you are just a tasty bait for the market.
-> Psychological problems and discipline
Article 3: Do you have an effective order entry method (a method that has been proven over a long period of time and tested on old data)? Do you know how to manage your capital and risk? I'm pretty sure this is the most important thing to keep you from burning your account.
-> No method and capital management
Article 4: Is the knowledge you learn correct or not? Almost all new participants listen to whatever is shared without knowing the nature or verifying whether it is right or wrong. Is it useful to learn the wrong things, or does it lead you astray and lead to losses? You should remember one thing: the nature of the market is buying and selling, so I find trend lines useless and meaningless. Focus on support and resistance zones, market liquidity, how to read candles and volume.
-> Focus on knowledge (correct knowledge)
I hope you have patiently read this far, I spend time and effort to share what I think is right. If you find it interesting and right, please share it with others.
In addition, every day I share an order that I participate in and importantly explain the reason for entering the order, other knowledge and experience. You can follow me and refer to learn more. Wish you all a good day !!
