What determines whether a trader can go further? Is it the improvement of technology? Is it the favor of luck? Or the market trends?

In Pu Yangchun’s opinion, the answer is only two words – patience.

Since entering the market in 2016, he has experienced the pain of liquidation and has gradually developed a steady mentality due to the ups and downs of the market. Those ups and downs and persistence made him more and more convinced: only by patience can one survive confusion and fluctuations. Because of this, his message to all EagleTrader traders is: “The only way to trade is to be patient can lead to the distance.”

Start with part-time trading

2016
In 2019, Pu Yangchun traders first came into contact with foreign exchange trading. Livermore’s legendary life attracted him deeply and made him determined to embark on this destined and challenging path. Several years have passed, and he is still persevering. “Livermore’s legendary life inspired me to keep moving forward,” he said.

By EagleTrader
After the exam, Pu Yangchun chose to manage the account part-time first. “At the beginning, he will do it as a part-time job. He will only consider full-time when the management scale exceeds 400,000 US dollars.” For him, trading is a long-term race. He is not in a hurry to pursue one step, but to make progress step by step and steadily.

In trading decisions, his analysis system has clear allocation: technical analysis accounts for 50%, fundamentals account for 25%, and intuition and experience account for 25%. The key to truly bringing long-term and stable profits is in his opinion “good risk control and seizing good trading opportunities.”

Lessons and Growth of Breaking Positions

Like many traders, Pu Yangchun has also experienced the pain of Breaking Positions. He recalled: “I had a liquidated position in my early years. After the liquidation, I felt that there were big problems with the trading strategy I had finally set up, and I felt that I didn’t manage my hands well and despised risk management.”

This experience made him understand that luck is not the basis for trading, but risk control is. “The best way to eliminate the luck factor is to trade in separate positions and take profit and stop loss in a timely manner,” he said.

So, when his position is heavy but he loses unexpectedly, his first reaction is no longer “expecting a reversal”, but calmly exit. “When the position is heavy but there is an unexpected big loss, I will close the position first and observe the off-market to wait for subsequent opportunities.”

If the profit encounters a pullback, his handling method is also calm: “Maybe most of the positions will be closed first, unless you have enough knowledge of the specific events that occur.You may wait a little, but you will also set a stop loss in the right place. ”

Continuous correction of strategy

Pu Yangchun traders have been polishing the trading methods. “The last major modification may have been half a year ago, when some content about the operation level was revised. “He said. In the future, he also hopes to combine life experience with market perception: “I am also trying to incorporate my simple experience of the market and life into my trading methods. ”

Most of the time, he will strictly implement the trading plan, although occasionally he will adjust flexibly under special market conditions. “Most of the time, I will execute according to the trading plan, but sometimes I encounter special fluctuations and may temporarily adjust the trading plan. ”

The understanding of volatility and control of risks

Unlike traders who prefer stable market conditions, he prefers market volatility. “I prefer markets with greater volatility, because the greater the volatility, it means that the market is more dynamic and easier to make profits from it. ”

He is very cautious in risk control. “It will be about 1 to 10
“between” is the risk score he is willing to bear in each transaction. As for how long it takes to return to the high point of net value after the maximum drawdown, he admitted: “This is actually difficult to answer. When the market is good, it may take several months, and when the market is bad, it may take several months, because how much profit can be made from the market depends not only on his own trading strategy, but also on the market conditions. ”

The gains from the exam

This time, taking the EagleTrader exam gave Pu Yangchun traders a deeper understanding of risk management. He said: “Many times there is no market, and there should be less trading. “For him, waiting patiently for trends and controlling risks carefully is more important than frequent operations.

After experiencing the loss of liquidation and reaping the fruits of persistence, Pu Yangchun uses his experience to tell us: trading is not about fantasy and luck, but about discipline, patience and continuous cultivation. The road ahead is still long, but as long as there is direction in your heart, you will not be confused. As he said: “The only way to trading is to lead to the distance. “This is not only his message to the new trader, but also the common belief of all those who insist on it in the market.