solthugger

$GIGA $aura $USDUC Let's make some noise, are you here? It's time to go higher.

What’s the next 1000x ticker?

The Dunning-Kruger Effect Extremely relevant in trading and investments. It is when a person with a low level of knowledge is sure that he already knows everything, while a competent expert, on the contrary, is sure of his lack of knowledge. This is the difference between successful traders and unsuccessful ones. For example, when an inexperienced person accidentally hits a series of successful trades, he starts to feel himself a lord of the market and thinks that now he will easily become a millionaire. And then the deposit is drained, total disappointment and realisation of his incompetence. Admittedly, I have fallen into this trap myself. As soon as I became confident that I knew enough, new horizons of knowledge opened up in front of me, and I realised that my previous knowledge was at the level of a kindergartener. Knowledge makes you laugh, so the more knowledge you get, the more confident you are in your unrivalled genius, but as soon as you start to think in such a way, degradation comes at once, which later leads to falling and humility. A successful trader, as well as any other specialist, always considers his current level of knowledge insufficient, and that is why he is constantly learning. If you are growing, then you are living. Stopping progress because of the belief that you have already achieved everything is a death trap.

What we buying today?

❌ “If you have incurred a loss, it means you have made a mistake.” This statement may be true in other areas of life, but not in trading, where probabilities and risks are involved. The correct wording is: ✅ “It's not whether I'm right or wrong that matters, but how much I earn when I'm right and how much I lose when I'm wrong.” A trader needs ready-made instructions — a trading system that works in the long term and that they can follow. To make money, you need to look for the same situations over and over again, repeating the same actions. That's all there is to it. If you incur a loss on a trade while following the trading system, it is not a mistake. You will more than compensate for it with one profitable position. But if you break the rules of the trading system and still make a profit, it will be a real mistake. Then you will want to repeat your success, continue to ignore the rules, and then lose everything. This is what usually happens. You need to have a long-term scientific mindset, that is, follow the path of practice and statistics collection. Isolated results are meaningless, especially if they are chaotic. But if, in the long term, the trading system has stopped making a profit, then you can experiment and change some variables. But do it consciously, minimizing risks as much as possible. I really hope that this post has conveyed the right approach and influenced someone. #Trading #SOL #Trenches