Forex multi account manager | Use your trading account operating, investing, trading | Assist in self management of family office investment
Forex multi account manager | Look for short-term trading entry opportunities in the split daily candlestick chart.
In the field of short-term trading, traders often use daily candlestick charts to capture the perfect timing to enter the market. Candlestick charts of different timeframes show different trading frequencies: The daily candlestick chart may only present one potential trading opportunity, while the 4-hour and 1-hour candlestick charts may potentially show 6 and 24 opportunities respectively. Further refined, the 15-minute, 5-minute, and 1-minute candlestick charts may potentially present 96, 288, and 1,440 trading opportunities respectively. However, just like the complexity of choices might lead to decision-making dilemmas, traders may feel overwhelmed and struggle to determine the best entry point when facing such a large number of trading opportunities. It is worth noting that candlestick charts of longer time periods are usually more stable in predicting market trends. For example, although the 1-hour candlestick chart has more trading opportunities, its prediction accuracy may be slightly inferior to that of the 4-hour candlestick chart. And the daily candlestick chart, with its fewest trading opportunities, provides the highest prediction credibility.
Forex multi account manager | Trading normality: Seek certainty in uncertainty, pursue stability in fear, and search for clarity in confusion.
The trading industry is a field that only values results, not processes. The trading process is full of uncertainties, and trading results are often unprofitable. Success means seeking certainty in the trading process and achieving profitable trading results. If you have a thorough understanding of your own system, know the maximum drawdown well, and understand that long-term execution can bring returns, then you won't suffer. All suffering stems from the fear of the unknown. Those who understand tend to be silent, while those who don't understand tend to talk a lot. Those who know don't speak, and those who speak don't know. Everyone needs to go through such a process. Looking back at myself in the past, I also said things I didn't understand and made trades I didn't understand. I didn't understand when I had money, but when I understood, I had no money. When I had money and skills, my courage disappeared. Having skills, funds, and market conditions, but having poor health due to staying up late every day. Seeking but not obtaining and obtaining but losing again might be the situations that investment traders need to face every day. No matter what, we need to deal with it calmly because life is short and there are no other choices. It's best not to have excessive emotional fluctuations, which is beneficial for both longevity and profitability.
Forex multi account manager | Investment traders should not be afraid, impatient, regretful or sad.
The life journey of investment traders at different stages is like the curve of trading varieties, fluctuating, alternating between rises and falls, showing a wavy forward trend with peaks and troughs interlaced. As long as it is venture investment rather than fixed-income investment, it is bound to be like rowing against the current and striving for survival in the face of death. There can never be a smooth path all the way. If there is a smooth situation, it is either a lie or a fabricated fairy tale.
When first entering this field, it may be difficult to find a good trading method. This is a normal phenomenon. No university in the world offers trading skills courses. After understanding the investment trading methods, they will face the problem of shortage of funds. Scarce funds are difficult to obtain huge profits. Recognizing this fact can help them calmly rely on investment to gradually accumulate the original funds. If setbacks are encountered in the investment process, it may even affect personal health and even pose the risk of losing all one's possessions. At this time, timely adjustment and remedial measures need to be taken. Even if there is an irreparable situation, there is no need to regret. Life always requires making choices, and everyone's unique life is actually an inescapable destiny. Even if one has done almost all the work and still fails to obtain huge investment returns and gain fame, but taking a step back and thinking, being able to support the family through investment trading, get rid of the shackles of work, and always be at ease, this itself shows the demeanor of a winner in life. There is no sadness for the rest of life, and one should always be content.
Forex multi account manager | View the 10,000-hour rule dialectically. It should be borrowed from rather than applied mechanically.
Genes and acquired environmental traumas determine the internal drive and dreams of investment traders, and the internal drive and dreams of investment traders in turn influence their future achievements. For those who mature early and have a quick understanding, perhaps only 5,000 hours are needed; for those who mature late and have a slow understanding, it may take 20,000 hours. Whether 10,000 hours are really needed or not, those who understand the true meaning think it is correct, while those who have not understand it think it is not. Foolish but successful people think it is correct, while intelligent people who make a living by selling courses think it is not, because if it is considered correct, no one will buy their courses and secrets. However, it must be clearly realized that the accumulation of trading experience does not rely solely on the accumulation of time. Although it can be borrowed from, it should not be followed mechanically or blindly copied, otherwise it would violate the original intention of the 10,000-hour rule. Different people have different results. Maybe some people can understand the truth quickly, and maybe some people struggle for a lifetime. There is no fixed timeline at all. It should not be limited by time. 10,000 hours may not be effective, but 10,000 trading experiences are bound to be helpful for trading. 10,000 transactions can be seen directly, but 10,000 hours are difficult to observe.
Forex multi account manager | The 10,000-Hour Rule and Experiential Skills (ART): Different Perspectives on the Same Concept.
The 10,000-Hour Rule states that the geniuses who are outstanding in people's eyes are not because of their extraordinary talents but because of their persistent efforts.
ART means technology, not art, equivalent to experiential skills. Such skills must be mastered through long-term training. In daily life, common experiential skills include painting, sculpture, music, dance, literature, etc. Trading skills are no exception. This is also the reason why universities around the world do not offer trading skills courses. Everything depends on self-study, self-practice, and self-awareness. The entire process must be completed independently, and the help that teachers can give is extremely limited.
It becomes easier to understand when dividing technology into theoretical technology and experiential technology. Theoretical technology can be obtained simply from books, while experiential technology must be acquired through countless personal experiences.
The vast majority of ordinary people, if they are not full-time engaged in trading and already have a job with investment trading as a side business, will be distracted by their work. Perhaps the time they have devoted to careful study throughout their lives does not even reach 1,000 hours because they cannot calm down and have difficulty sitting still. This is a fact that is often overlooked by people.
At the end of the article, the covers of foreign works are attached to confirm the true meaning of experiential skills (ART). If one can understand that the 10,000-Hour Rule and experiential skills have the same essence, they can calm down and study their own unique trading system. In this way, they have succeeded halfway. If they make more efforts, they are expected to achieve financial freedom.
Forex multi account manager | The 10,000-Hour Rule and the Solitary Journey of Investment Traders.
The focus, dedication, and continuous efforts emphasized by the 10,000-Hour Rule have a profound connection with the loneliness experienced by investment traders in the pursuit of excellence. This loneliness is not accidental but an inevitable result in the process of pursuing the refinement of professional skills.
Investment trading research requires traders to think deeply and avoid external interference to maintain the coherence and depth of their thinking. When a person is immersed in their own thinking, any interruption can lead to the distraction of attention, thereby affecting the quality and efficiency of thinking. For those with perfectionist tendencies, such interruptions are not only uncomfortable but may also cause anxiety and anger.
In a social environment, being disturbed seems to be the norm. However, professional investment traders often choose to stay away from the crowd and find a quiet space for thinking in order to maintain the purity and depth of their thinking. This choice is not out of dislike for social interaction but out of respect and pursuit for professional growth.
Why do professional investment traders gradually stay away from social interaction and choose loneliness? On the one hand, they may be building their own trading system and need a long time of independent thinking to avoid the interruption of their train of thought. On the other hand, long-term solitary trading may have become their way of life. They not only adapt to this state but even begin to enjoy this independence and freedom.
Think about Bodhidharma meditating facing the wall for ten years. What was he doing? Think about when practicing Zen, being not allowed to be disturbed, and having meditation sessions and the seven-day Chan retreat. What were they doing? In fact, when I just transferred from an industrial factory to long-term foreign exchange investment, I turned off my mobile phone for three years. Later, almost no one called anymore. After that, many suppliers and customers invited me to dinners. I would joke about myself, saying: "I suffered a huge loss in investment, I'm depressed, it's not appropriate to meet." Self-mockery can not only reduce trouble but also not appear arrogant and rude.
Forex multi account manager | It is undoubtedly a supreme enjoyment for investment traders to conduct transactions in an undisturbed environment.
Thinking itself is a pleasant thing, but being interrupted during thinking is a painful matter. In conversations, sometimes interruption is acceptable because one needs the inspiration of the other party; sometimes it is not, because one needs to show respect to the other party. When investment traders are under great pressure, thinking may stagnate or be impaired, and any investment decisions made at this time may have significant deviations and errors.
For investment traders, working from home has disadvantages: they are entangled by some insignificant and trivial matters every day and have to deal with a bunch of meaningless affairs every day. If there is one or several relatives who are troublesome, it becomes even more difficult. They not only frequently disturb but also lower one's mood.
Investment traders should not be afraid of being said to be unsociable by others. This is not a derogation but should be regarded as a kind of compliment, so that they can have a peaceful state of mind. From another perspective: this indicates that you are thinking, continuously thinking, and don't want to be disturbed, which is much better than living mindlessly. One cannot speak while thinking, and one cannot think while speaking. One has no time for socializing when thinking, and one cannot think when busy with socializing. If traders are repeatedly interrupted during the investment trading thinking process, they will lose the mood to continue with investment trading and continuous thinking of investment trading strategies. Eliminating useless socializing is the minimum requirement for successful traders.
Young traders may get angry when disturbed. Older investors may not get angry. Having seen more, they have become indifferent to everything. Anger often stems from fear, and as one ages, the sense of fear gradually decreases.
Forex multi account manager | A successful investment trader is bound to go through confusion, bewilderment and helplessness, then have an awakening, and finally reach a state of transparency.
What one desires is not obtainable, and what is obtained is lost again. One is eager to make money but suffers from floating losses. If one is a band or long-term investor, even if there is a loss, it is often only a stage. But if it is short-term trading, ultra-short-term trading or high-frequency trading, losses may exist almost every day. No one can hold on for a long time. Soon, confidence and enthusiasm will be gradually eliminated, then leave the investment market and never return. If one can make profits periodically, one can choose to trade full-time. However, if one does not devote oneself to full-time trading, it is difficult to achieve periodic profits. Working for an investment institution and engaging in trading requires achieving periodic profits, but traders who can make profits periodically are unwilling to serve investment companies.
People have different personalities and different perspectives on things. Many traders can make profits when working in institutions and think they are extraordinary, but suffer heavy losses when trading alone. This is because when trading in an institution, someone supervises them and can help them control risks in time when the account is in loss. There is also a possibility that the personality is not suitable for going it alone, but prefers group operations. They are the type who is energetic and loves to show off. Only when there are many people can their huge potential be stimulated.
The most important thing is, knowing clearly that investment trading is a negative-sum game, why still get involved in this field? It is due to the love, persistence and strong fondness for investment trading, rather than the fear, worry and dread of future investment risks.
Forex multi account manager | If young people have other career options, they should not get involved in forex investment.
In recent decades, the central banks of the world's major currencies have kept their currencies within a relatively narrow range to ensure their countries' trade advantages in the international market. If there is no fluctuation in currencies, there is no trend. Without a trend, where can the profit come from? In the past more than ten years, due to the lack of profit sources, the number of forex investment institutions has been decreasing. For individuals, forex investment trading has no advantage at all, which is an extremely obvious fact. In particular, the Chinese government restricts forex investment trading. There are no formal trading platforms in China. If one wants to conduct international forex investment, each person has an annual quota of only 50,000 US dollars. Even if the trader's technique is relatively excellent and the rate of return is estimated at 10%, the return is only 5,000 US dollars. Such a return may even be difficult to support the livelihood of the family. This is the most optimistic estimate. The cruel reality is that 80% of forex investment traders are in a loss-making state. Newcomers are likely to lose money, let alone talk about returns. Moreover, China lacks an ecological environment for forex investment trading, and there are many difficulties in learning, research, communication, training, etc. Choosing this thorny path is not only worthless but also likely to be full of obstacles. If one accidentally strays into the difficult path of forex investment trading and reaches the middle, one will be in a dilemma and find it difficult to advance or retreat. Choosing to give up means that several years of effort have been wasted and it is really hard to let go. Not giving up, but forex investment trading is difficult to make money to support the family.
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