What principles are essential for successful traders?

Why is "run when profitable, hold on tightly when losing" wrong?

Psychological misconception: This behavior stems from the human tendency of "disposition effect." Locking in small profits too early but unwilling to admit losses.
Contradicts trend logic: In trending markets, taking profits too early can cause you to miss out on major gains; not cutting losses can turn small losses into big ones.

If your candlestick analysis is not up to standard and you don't understand the news, a true trader is never in a rush to succeed. Be patient and wait for the market to release entry signals. To succeed in trading long-term, you need to understand these trading principles:
1; When can you use candlestick patterns to trade?
Resistance level: Indicates that when the price approaches, there is no more room to go up, and the market will fall.
Support level: Indicates that when the price approaches the bottom, there is no more room to go down, and the market will rise.

2; When can you trade based on news without relying on candlestick analysis?
For example, Federal Reserve monetary policy, Non-farm Payrolls, CPI, PPI, PCE, geopolitical conflicts, Trump tariffs.
Seeing these can help you profit from major market moves.

3; How to enter, adjust leverage, control position size flexibly, set take profit and stop loss?
Entry points are closely related to candlestick analysis. When the price approaches resistance or support levels, it indicates a good entry point.
At this time, stop loss can be set somewhat arbitrarily, but it’s better to consider the profit potential and adjust your position size accordingly.

4; Control your emotions well.
Don’t let minor market fluctuations affect you. Learn to control yourself. Successful traders spend 40% of their time waiting for the right opportunity, and 40% holding positions to maximize profits. It’s not about how many trades you make blindly; it’s about who can survive the longest.
Wishing everyone steady progress in trading, overcoming various risks, and achieving greater success. #美伊局势影响