A Must for Cryptocurrency Traders: A Deep Understanding of Trading Belief!
These days, I have been infected again with a positive test for Mycoplasma pneumonia, experiencing a continuous high fever and vomiting last night. The virus is very strong, even stronger than the last COVID-19 infection, so everyone must take precautions. I'm not feeling well, so I won't write too much analysis for you. Instead, I'll share this article that I actually completed a long time ago but haven't published. The main reason is that there hasn't been a suitable opportunity. The last knowledge point in enhancing our trading cognition, which is also the most critical one, is that the key to improving trading cognition lies in a deep understanding of trading belief. It is a firm conviction deep within us that cannot be falsified, forming the pillar of our spirit. This is what I, as a cryptocurrency scholar, have realized after more than a decade in the crypto space, and I hope it helps you avoid detours.
The final key point in enhancing trading cognition is a deep understanding of trading belief, which is also the most important component of the cryptocurrency scholar's cognitive system. So, what is trading belief? How can we build our own trading belief?
In actual trading, many people often confuse trading belief, trading conviction, and trading philosophy. First, trading conviction is our deep-seated certainty and perspective regarding our trading results; while trading philosophy is the rational creed that traders gradually form through trading experience, aimed at guiding each trade. The commonality between the two is that they are both inwardly extended ideas, reflecting our perception and recognition of trading logic. However, these beliefs and philosophies can be falsified, meaning they can be proven wrong.
In contrast, trading belief is our wholehearted spiritual commitment, a firm conviction that cannot be falsified. Trading belief arises from an outwardly directed will, constituting the most powerful spiritual force and pillar within our soul. It represents our ultimate arrangement and trust in our trading life, firmly believing that our trading system can bring sustained positive returns in the future.
From a macro perspective, trading belief is a power deeply rooted in our hearts, influencing our decisions and actions. From a micro perspective, it is a profound understanding of market truths and our emotional changes that we gradually form after experiencing multiple market bull and bear cycles. This process enables traders to see through appearances, gain insight into the essence of the market, and gradually build a complete set of trading logic and rules.
The formation of trading belief is a journey of continuous reflection and learning, a process of being able to rise again from failures after experiencing the brutal blows of the market and continuously improving. In this process, our instincts, character, emotions, thoughts, and psychology are all deeply integrated with trading. Although trading logic and rules are not perfect and not always correct, I, as a cryptocurrency scholar, firmly believe that as long as we persist in the long term, we will surely welcome maturity and peak.
When one's abilities reach a certain level, the test is not about specific details but about the depth of understanding and cognition of the essence of trading. Therefore, trading belief becomes a significant marker for measuring top traders.
To build our own trading belief, we must go through every step and personally experience all processes. Detached from this process, mere theoretical construction cannot form a true belief. There are no shortcuts to building trading belief; one must enter the market alone, undergo long-term tempering and testing, grow in ignorance, mature in cognition, and ultimately reach a state of selflessness.
On this path, we need to face the market's uncertainties together with our trading system, confront various challenges on the path to advancement, endure the market's feedback and results, and continuously improve our system until we can handle any trend. This is the process of system upgrading and our growth journey. In this process, the only thing we can rely on is ourselves. Only through continuous practice, summarization, reflection, learning, and self-improvement can we achieve self-reconstruction.
When our cognition reaches an extraordinary level and merges with our system, we will be able to perceive the truth of the market and glimpse the essence of trading. At this point, we will form a unique trading logic and rules, becoming unwavering in our trading belief.
To become a top trader, we must comprehend the five core ideas contained in trading belief:
1. In any situation, we must be unwaveringly certain of our trading goals.
2. Regardless of the market's feedback, we must maintain a sense of reverence.
3. In any environment, we must trust our trading system.
4. Under any trend, we must strictly constrain our trading behavior.
5. All trading plans must be executed according to the established trading strategy.
Only by experiencing the baptism of the entire market cycle, advancing to a new self and trading realm, and mastering these five core ideas can we, in our subsequent trading careers, control ourselves with direction, strategy, principles, standards, scale, strength, and rhythm.
I am a cryptocurrency scholar, a warrior who has always protected the retail investors. I wish my fans financial freedom in 2024. Let's work hard together!
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