henrythebest (OP)
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Perseverance pays... a lot!
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February 14, 2019, 02:52:56 AM |
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article originally from FMZ.COM
Bahrain Bank trader Nissens was once regarded as a machine for making money in Bahrain Bank. In 1994, due to his optimistic view on the Japanese economy, he held a large number of Nikkei index bullish futures contracts, which he thought would make a big profit. Unexpected Japanese Kansai earthquake caused the Nikkei index to plunge all the way. Under the premise of being too optimistic about the market outlook and under the pressure of keeping superiors uninformed, he continued to struggle buying at the lower price to diluted the cost price, which at end shocked the whole world, causing the Bahrain Bank lose trading account. Then, the Nikkei futures went up again, and Nissen fell before dawn.
On the road of trading, many people will fall before dawn. Nissen's case is just one of many. Nissen's run-in period with the financial speculation market is too short, the market is not well understood, and his risk awareness and management of the financial market are immature. Sudden wealth and media touts, can easily make a trader who entered the battlefield faint. The ending is also expected by the veteran. Financial market is very professional, magical and tempting. Everyone who comes to the market has confidence in himself. There is no shortage of elites, but it cannot tell who got real power and can stand out. In the frequent entry and exit day after day, your money is being consumed. In the long-term shocked stop loss, your capital is decreasing, and your confidence will become more and more fragile in constant loss. Generally, most people will retreat in a year. This is why many futures companies have many dormant accounts. When your survival lasts three years, no matter profits or loss you’ve taken, whether you are happy or miserable, it proves you are persevering and your psychological endurance is above the average, but it takes at least another two years for you to become mature. Though I have seen the amazing persevering traders who is still on detour after ten years. Therefore, in this long process, most of them are constantly wrestling, no hope for a trace of light, and can't afford to toss after frontal attacks again and again, then choose to leave with sorrow, which is also a kind of wisdom.
Buying and selling, seemingly simple transactions contain extremely profound truth, and this profound truth cannot be easily grasped by most people, let alone fully implemented. For this reason, this is one of the industries with the highest elimination rate, which is more severe than the 28 effect. If the ratio of maintaining long-term profit in industry is 1%, the ratio in stocks is 1‰, and the ratio in futures foreign exchange transactions is at least 0.01%.
This is a market of game, a market where a few people can succeed, and a marathon of endurance and wisdom.
Without a clear goal, you will often feel like to retreat; without a reasonable strategy, you will continue to detour; without the perseverance, you will be beaten by market; without the right ideas and methods, you will always go all the way to the black road; without deep sense of risk in the market after cruel beat, , you may still need to endure a long night even if you see a glimmer of light. Is there a chance to see the dawn? No one can really help you, but only by yourself. No one can answer you, except time.
When the tide of time recedes, you will know whether you can be one of the few people who can meet the dawn.
And the only thing to get that day to see the tide gradually recedes, is patience.
article originally from FMZ.COM
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