Impatience, how does it make you lose money?

① The culprit of chasing gains and cutting losses: seeing the market start to rise, fearing to miss out, and ignoring the plan to chase the highs, resulting in buying at the peak; seeing the drop, panicking and selling off, resulting in selling at the low. Impatience makes you the "contrarian indicator" of the market.

② The nemesis of your plan: You have meticulously developed a trading strategy, setting entry and stop-loss points. However, a slight price fluctuation can lead to impatience, causing you to act prematurely or move the stop-loss, ultimately rendering the plan meaningless.

③ Capital erosion machine: When there are no orders in hand, one feels restless and always thinks that not trading means missing opportunities. As a result, one forces a position in situations that are ambiguous and do not conform to their system. The result is frequent payment of fees and spreads, leading to the capital being worn down unknowingly.

So, how can we cultivate an ordinary mindset?

1. Trust the system, embrace waiting: establish and strictly follow a trading system. Most of the time, the market is in ineffective fluctuations, and real opportunities require patience to wait for. Accepting this "boredom" is a prerequisite for profit.

2. Manage your position and relax your mindset: The size of your position determines your mindset. If every fluctuation makes your heart race, it indicates that your position is too heavy. With a lighter position, you will be able to see more clearly and go further.

3. The process is more important than the result: Don't get caught up in single trades' profits and losses; instead, focus on "Did I follow the plan?" As long as the process is correct, good results will naturally emerge in the long run.

4. Don't be afraid of missing out, protect your principal: "The market is always full of opportunities, but the principal is limited." Missing an opportunity today doesn't mean the market won't be open tomorrow. However, if you lose your principal due to impatience, you lose your eligibility to participate in the game.

Please remember that in the market, your ultimate opponent is yourself. Successful trading does not rely on precise predictions, but on decisively stopping losses when mistakes are made and patiently holding on when you are right. When you can overcome your inner anxiety and calmly view fluctuations, the rewards the market offers you will naturally arrive as expected.
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