Eleven master trader rules
Article 1: I really want to trade
This is the first principle, with a veto. If you don't "love" this line, please go away. This is not just Murphy's point of view. All super traders are crazy about trading. Few successful people in all industries do not love their careers. Success is no accident.
Article 2: "I", "why" and "how"
1: I really want to trade? Why: why do I want to trade? How: how do I intend to trade? These are three questions, not one. I must have figured them out. Again, why do you want to trade? If you can't answer, please go away.
Article 3: you are you
If the above two questions do not make you retreat, now let me tell you how to trade. How to trade? Build deals that fit your personality. It's not just Murphy's point of view, fan Capo also emphasized that the trading strategy must be consistent with the personality of the trader. "You" are the most important factor in the transaction.
Article 4: you or you
Even if you have a perfect trading system and fund management strategy that fully conforms to your personality, in fact, this is impossible. You still have to be moderate. You are still you.
Article 5: the sea has a shore and the sky has a horizon
Identify a method, use, whatever. Basic analysis, technical analysis, value theory, value-added theory, charts, indicators, mechanical systems, intelligent systems, waves, Gann, Ganz, you always need to know a little. This is very important because it teaches principles. More importantly, it determines its boundaries. You should know when it can be used and when it cannot be used.
Article 6: talent and sweat
If you "love" trading, you have good trading motivation, systematic trading strategies and fund management that conform to your personality, and you also know moderation and master a complete analysis technology. However, only a few people can become super traders, and others can only become net profit traders through sweat.
Article 7: those who are good at fighting have no reputation for wisdom or courage
Sun Tzu said, "those who are good at fighting have no reputation for wisdom and no courage.". The more effortless and natural the trading process, the greater the chance of success. "The perfect deal doesn't require effort," Murphy said
Article 8: management, management, management
Manage what? Funds! No matter what you trade for, there is no lack of profit. Capital is the starting and ending point of the transaction.
Article 9: rules, rules and regulations
Everyone knows that there is no place without rules, and pays more attention to the spirit of "law". Murphy said, "you can never avoid bad trading habits. All you can do is let them lurk.". The best effort is not to form these bad habits at the beginning. Among all the bad habits, the worst one is not to respect the rules.
Article 10: independent spirit
Benjamin Professor Graham (Buffett's master director) clearly explained the value of the independent spirit. Some points worth referring to: being bold, daring to act, facing the reality, daring to win and refusing to be comfortable are the active side, while daring to give up, daring to fail, refusing hope and necessity, self-criticism and daring to break through are the other side.
Article 11: Life
Trading is not the whole of life. Life is so beautiful. It is enough to have the above ten rules for market experts. Murphy takes "trading must be carried out for a long time, and life is not just trading" as the last rule in the last chapter, which is meaningful, just as the last hexagram in the ancient book of changes is "the future". Life, it can tell you why to "really want to trade" or "really don't want to trade".
