When trading Crypto is an adventure, not a life changing opportunity

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In 2020, a close friend led me into the financial market, namely playing Futures. When I was a child learning English, I was taught that the future is the future, later I realized that the future is a dead end, there is no way out...



*This is an article to join the Mini Campaign Unfold of losT - Coin98 Insights community member account. Details of the campaign can be found here .

Back in May 2019, I graduated from university and went to work. Although I work in the right field of study, from the first days I realized that it is impossible to be rich with a salary. Young, full of ambition, I longed for a quick "rich". And that thought haunted me for a long time.

Bitter green bitter melon​

The novice entered the financial market with the dream of getting rich quick, I was eager to create a Binance account and load up almost all of my long-term savings. I thought I could change my life quickly.

I played hard, but lost more orders than won. I remember the times when I gritted my teeth and stubbornly "argued" the market because I thought I was right. Time and time again, I hugged the losing order like hugging a cactus with sharp thorns. Each time the price moved further away from the entry point, I hugged those spikes more tightly each time. But the "blood" in the account decreased more and more until the pain was so bad that I had to cut my loss. I gradually lost my composure.


Suppressing, not accepting my shortcomings in analysis, not accepting that I lost in choosing the time to enter the order, I blindly entered the next order with the desire to remove the gauze. “Maybe this time it will be different”, the market is not that cruel. However, for those who are not equipped with weapons and full armor, cacti are still cacti.

This time, I wasn't as calm as at first, but instead felt a sense of panic. My hands are cold and sweaty, my lips are tight, my eyes are staring at the price chart (chart) without leaving. It seems that all the senses in my body are working at full capacity. But the result was worse than the first time, I continued to lose blood, the second time, the third time, the nth time… When I looked back in shock, my account was zero!


So many feelings ran through my head: pain, despair, depression, fear, hatred. I feel like I've been blatantly robbed of money but I can't sue or do anything. My money is gone forever. My head exploded with a thousand “why” and a thousand and one “what if” questions. “ Why does the price line contradict my opinion?”, Why is the market so cruel?, “If only I had entered an order in the opposite direction”, “If only I had cut my loss earlier” . My mouth is as bitter as biting on a green bitter gourd.

Trade wins by luck?​

In hindsight, my inexperience, lack of knowledge, and countless other shortcomings were like a can of gasoline pouring directly into the fire of my desire and burning it with the money I deposited into my account. It's really "life changing" quickly!

After the first account fire in my life, I ran out of the market, deleted the Binance app, unfollowed crypto sites so I wouldn't have to look back at this horrible "discipline". But the financial market still attracts me so much, I want to conquer it.

A month later, I decided to return to the market, but this time with a different mindset. The previous failure told me that this road is not smooth, because if it was easy, everyone would be rich.

I no longer believe that Futures is the way to free me from financial difficulties, no longer think it will become my main income. In the early days, listening to enchanting words such as: " My side has a brother A / sister B who plays a thousand dollars a day", "You buy a house, get married with money to play Futures ", I think this subject " easy to eat”, but that is not true.

Maybe Mr. A and Ms. B with the big money earned from the other Futures are real, but I think to reach that point, they have to improve themselves and suffer a lot of loss. Perhaps they fell and fell on their faces, but few people mentioned it, because people often talk only about success. Becoming a good trader doesn't happen overnight, or just reading news online, taking some crash courses. If that's all it takes, then everyone wins, so who will lose then?


Some people say that winning trades is due to luck, but is it true? While observing Jerry Barber - an American professional golfer, scoring a spectacular goal, an audience member commented: " You're so lucky ". Jerry replied, " Yes, I'm a lucky guy, and the more I practice, the luckier I get ." I think traders are "lucky" too.

Psychology - a trader's "Achilles heel"​

I am aware that the financial market is a battlefield with endless battles between the most intelligent people. I realized that I couldn't go to war without a piece of armor hard enough, a weapon strong enough, and a cool enough head.

A piece of armor is a way of managing capital, a cut-off level on each transaction, and a weapon is a trading system, information, indicators... They are something that anyone can own because nowadays on the forums, People share this knowledge a lot. But a cold head is very few people have, because few people talk about how to control psychology in trading. I think this is the main reason why most traders lose.

So, out of ten parts of my effort to learn about Futures, I spent one part preparing my own "shield", while developing my thinking and training my mind, I spent eight or nine parts.


In addition, this trading battleground makes me remember one thing: everything is just probability . No matter how perfect your trading system is, how "correct" your analysis and judgment is, you will eat at least a few red orders in your trading history. And because I know this is a probability, every time I lose, I always tell myself this time I'm just unlucky, not blaming, not bitter.

I set up my own trading rules:

I like the idea of dividing everything in the world into three stacks: the first is the things you have complete control over, the second is the things you have partial control over, and the third is the things you can't. control.

When it comes to Futures, I think entry timing is in the first pane, so pay close attention to it. But how the price runs after entering the order is in the last compartment, so don't spend too much time and mind worrying. Specifically:

  • Before deciding to enter an order: I do a thorough analysis, calculate the profit and loss compared to the existing capital in the account, record how and why to enter the order. I do everything in my power.
  • After I entered the order: I let the price line run and went to do other things, because I know that besides trading I have many other concerns, I can't just sit and look at the chart all day like before.
  • Taking a quick look at each investment category, if they match with my judgment and trading system, I put money down, if not, that's okay.
Photo: cleanpng
  • Suppress the urge to enter trades continuously and patiently wait for the right time. Always keep in mind: “Addiction” to trading can become an “Achilles heel” that knocks traders out of the game.

Personally, since I learned to control my emotions, my trading performance has been much more stable. I find it easier to choose when to enter an order. I think timing is very important, as the powerful judge "hears" the player's decisions. A right order sometimes turns out to be false just because the timing is not right, because the entry position is not good.


The journey is worth more than the destination​

The market is a monster in its own right, ready to mercilessly kill you any time you are negligent. But the deeper you go inside, the more valuable things you will understand, and when you persevere long enough, you will learn how to survive, because the financial market is also the best teacher to teach you everything. what you need to fight it. So I think in this market, don't consider financial freedom as the goal, the destination. Instead, aim for knowledge and experience, and money will be the reward for your efforts and efforts.

Photo: Wallpaper flare
Since entering the market, I have always cherished the experiences I have collected, no longer holding the mindset of a hot-tempered guy who craves precious gems for rewards, but trying to become an adventurer. I realize that "get rich quick" is a far-fetched concept, the journey of discovery itself is worth much more than the destination.

In the end, in order to reach the cave and alley of this land, I must actively cultivate myself. I have to sweat a lot on the practice floor so I don't have to bleed on the Futures battlefield!
 

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