Today, I want to take some time to share my personal journey toward becoming a long-term trader. These experiences are drawn from many years of trading—ranging from prideful victories to painful losses. If you're new to the trading world, I hope this post will help you avoid some of the common mistakes that I, along with many others, have made along the way.

1. Risk management is the foundation – Never overlook it!
When I first started trading, everything was about how to make quick profits. The initial excitement led me to focus too much on securing gains while completely ignoring capital preservation. And as expected, a series of consecutive losing trades quickly wiped out my account.

Since then, I realized: 'Capital preservation is more important than profit-making.' Whenever I open a trade, I always assess how much risk I can afford to take—usually only 1-2% of my account. Setting a stop loss before expecting profit has helped me not only survive in the market longer but also better manage my emotions when facing sudden market fluctuations.

2. Patience in waiting for the golden opportunity – One of the most crucial skills
If you ask me what is the hardest thing in trading, I would say it’s patience. In the beginning, I was constantly eager to jump into trades, fearing that I might miss out on opportunities. As a result, I frequently traded under unfavorable market conditions, leading to continuous losses.

Now, I understand that the market always provides new opportunities, and waiting for the perfect setup not only improves my win rate but also keeps me much more relaxed. 'Waiting is an art,' and sometimes staying on the sidelines is a wiser decision than entering the market hastily.

3. Trade based on a plan, not emotions
One of the biggest mistakes I made during my early years was allowing emotions to dictate my decisions. When I won a trade, I felt “on top of the world,” but when I lost, I became frustrated, trying to recover the losses at all costs. This led to impulsive decisions and a lack of control.

After many failures due to emotional trading, I started to learn how to stick to a clear trading plan. Every trade must be based on thorough analysis and predefined criteria, regardless of the outcome. By following the plan, I can avoid rash decisions and prevent short-term market swings from influencing my judgment.

4. Understand the market – Don’t blindly chase 'miraculous' methods
In my early days, I often chased after trading strategies that I thought could guarantee success. From complex trading systems to automated bots, I tried them all. However, what I came to realize is that no strategy is perfect or guarantees consistent victories.

The market is always changing, and each moment is influenced by different factors. The key is to understand the essence of the market and adapt to its changes, rather than chasing after a 'holy grail.' Continuous learning and adjusting strategies have been critical factors in my long-term survival.

5. Emotional management in trading – Discipline and self-control
Trading is not just a mental game; it's also a battle with oneself. For me, managing emotions is of utmost importance. Whenever I faced consecutive losses, feelings of frustration and anxiety would easily make me lose my cool, and that’s when I made the biggest mistakes.

I had to learn how to maintain calmness and discipline, even during the toughest times. This not only helped me make better trading decisions but also prevented unnecessary stress and burnout.

6. Never stop learning and refining your skills
Finally, the most important thing I want to emphasize is: Trading is a journey without an end. Every day, the market offers new lessons, and continuous learning is mandatory if you want to succeed. From reading books, participating in forums, learning from more experienced traders, to taking advanced courses, I always seek ways to improve my knowledge and skills.

One thing I always remind myself is never to get complacent. When you think you know enough, that’s when the market is most likely to defeat you.

Conclusion

Failure is an inevitable part of every trader's journey, but the most important thing is what we learn from those failures. Always prioritize discipline, risk management, and continuous learning. The market will never run out of opportunities; the key is whether you have the patience and knowledge to seize them.