\u4ee5\u4e0b\u662f\u6211\u4ece 1991 \u5e74\u5230 2021 \u5e74\u82b1\u4e86 30 \u5e74\u4ea4\u6613\u548c\u6295\u8d44\u80a1\u7968\u5e02\u573a\u540e\u5b66\u5230\u7684 65 \u4e2a\u7ecf\u9a8c\u6559\u8bad\u3002<\/p>\n
\u4f5c\u8005\uff1aSteve Burns<\/p>\n
<\/p>\n
Here are 65 lessons I learned after spending thirty years trading and investing \u00a0\u00a0in the stock market from 1991-2021.<\/p>\n
A trend can go farther and longer than I ever expect.
\nThe best traders are open-minded and flexible in their trades.
\nFor most traders less trades is better than more trades, focus only on the best set ups and stocks.
\nBe opened minded to the potential of new stocks and markets.
\nPrice action is the only truth in the stock market.
\nNever add more capital to a trade that is already losing money, that is trend fighting with more size and hope.
\nNever enter a trade unless you know where you are getting out with a stop loss, trailing stop, or profit target.
\nI prefer end to day stops over hard set stops in the market.
\nVolume in the market is like votes being cast at different price levels.
\nBreakouts usually retest back to old resistance that will be new support.
\nA time stop out of a trade not going anywhere can free up capital to trade on better setups.
\nThe best trades work right from the start.
\nSome of the best trading systems are simple, it is the trader\u2019s psychology that creates the biggest edge.
\nYou only need a few technical indicators and price action to trade, more indicators can add confusion.
\nFundamentals do not equal technical price action, emotions and beliefs drive most price trends.
\nThe economy and the stock market are two very different things.
\nTrade smaller during losing streaks and bigger during winning streaks.
\nSelf destruction starts when a trader refuses to accept being wrong about a trade.
\nThe bigger the position size the louder your emotions will be.
\nSelf confidence comes over time as you prove your system is valid and that you are disciplined in following it.
\nFocus on just making one good trade at a time.
\nBreaking your own trading rules can be expensive.
\nLong positions in the stock market are the path of least resistance the majority of the time.
\nThe faster you admit you were wrong about a trade the smaller the loss will be.
\nYou must limit your total risk exposure of positions at any one time.
\nStocks are more like a beauty contest in the short term and a cash flow contest in the long run.
\nMoving averages are my favorite technical indicator because they quantify trends.
\nA chart patterns best use is to quantify entries and exits in the direction of the momentum.
\nA candlestick pattern just gives better odds of one thing happening over another.
\nMany times a bull market will be lead by the financial sector going higher.
\nThe market doesn\u2019t know you exist or care about your opinion.
\nOpinions and predictions are worth nothing. A system with an edge is priceless.
\nThere are seasonal patterns to the market, understand them.
\nHigh short interest on a stock can be bullish.
\nYou must have a quantified system with an edge if you hope to be profitable over the long term.
\nThe market is always pricing in the future not the present.
\nShort selling is a much more difficult game than going long in the stock market.
\nDowntrends are much more volatile than uptrends.
\nVolatility can lead to a lot of false signals, you must manage for this.
\nShort sellers have to overcome the effort of CEOs, dip buyers, congress, the president, and the Federal Reserve to keep the stock market prices up.
\nMost big moves start with a strong momentum signal.
\nMany times, the most difficult trade to take is the right trade.
\nOther traders are better used as examples on how to trade not copying their trades.
\nThe best trades are many times difficult to enter.
\nTaking a stop loss is more difficult for new traders than holding a losing trade.
\nThe best traders do all their research when the market is closed so entering or exiting when the market is open is automatic.
\nA good trader must have a positive mindset.
\nHard work is only rewarded in trading when it is the right type of effort.
\nTrading will teach you about yourself.
\nAll traders are eventually humbled.
\nLet trades come to you, don\u2019t chase a trade.
\nA good trading process can help you get lucky.
\nYou must survive losing streaks.
\nMarkets usually take time to make a top or a bottom before reversing.
\nAll stocks go through cycles of accumulation, distribution, and range trading.
\nConviction on a trade can lead to big wins or big losses, it is neutral as a benefit to a trader.
\nTrend following makes money, trend fighting loses money.
\nYou can build a watchlist of stocks based on fundamentals but you still have to trade the price action on the chart.
\nMost bottoms in price come with a confluence of other oversold indicators and bullish divergences.
\nMaximum pessimism is at market bottoms, maximum optimism is at market tops.
\nLeverage in trading can cut both ways, use it with caution and good risk management.
\nThe big money usually tips their hand for their sentiment by the end of the day.
\nThere are no perfect trades only good risk\/reward ratios on entry.
\nPerma bears make money only during downtrends, perma bulls make money only during uptrends, perma pigs blow up their account when they end up on the wrong side of any trend.
\nTrade like a casino, not a gambler.<\/p>\n","protected":false},"excerpt":{"rendered":"
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