Foreign exchange futures risk management must read: execute transactions as planned; keep a record of your trading results; limit your losses, constantly work hard for patience, perseverance, determination and rational behavior, and never enter the market because you can’t wait.

30 must-reads for foreign exchange futures risk management:

  1. Make a plan for your transaction; execute the transaction according to your plan.
  2. Anticipation and fear are the two greatest enemies of speculators.
  3. Keep a record of your trading results.
  4. No matter how much you lose, keep a positive attitude in the diversity plot.
  5. Don't be overconfident-it will become your greatest enemy.
  6. Constantly set higher trading goals.
  7. Setting stop loss is the key to the success of many traders-limit your losses!
  8. The most successful traders are those who do long-term trading.
  9. Successful traders buy when bad news and sell when good news.
  10. Successful traders are not afraid to buy at highs and sell at lows.
  11. Successful traders effectively plan time to conduct market research.
  12. Successful traders set profit goals for every trade they make.
  13. Don't ask for opinions everywhere before entering the transaction-facts are infinitely valuable and opinions are worthless. Simply put, successful traders are not swayed by the opinions of others.
  14. Constantly strive for patience, perseverance, determination and rational behavior.
  15. Never exit the market because you lose patience, and never enter the market because you can’t wait.
  16. Don't enter and exit the market too frequently.
  17. The best way to profit is to follow the trend.
  18. Unless you have a good reason, don't change your position in the market. Every time you make a trade, you must have a rationale or a clear plan; after that, unless there are clear signs of a trend change, do not withdraw.
  19. Losing money can't make a profit, but it can make speculators study carefully. Seize every opportunity to lose money and improve your understanding of market behavior.
  20. The hardest task in speculation is not forecasting, but self-control. A successful transaction is a difficult and annoying transaction. In the equation of success, you are the most important factor.
  21. The basic element of price changes is human emotion. Panic, fear, greed, insecurity, worry, pressure and indecision are the main sources of short-term price changes.
  22. Typically, when the market is at the top, the most people are unanimously bullish; when the market is at the top, few people hold a bull market view.
  23. Pay attention to long and short sets. In other words, if the deficit is shrinking, don't look too much.
  24. Remember, a one-month bear market can make you lose what you have gained in a three-month bull market.
  25. Find the "decisive factor" in each commodity futures. As the situation changes, we are ready to re-determine a factor at any time.
  26. Expand your source of market information; limit your source of market opinions.
  27. Never let a big win turn into a loser. If the market makes your profit fall by 20% from the highest point, stop the loss and exit the market.
  28. No one can know everything. Engaging in futures trading always faces danger.
  29. Trading requires four elements to succeed: knowledge, courage to control properly, money, and the energy to properly combine these three.
  30. Foreseeing that there will be a loss, Grace accepts the loss generously. Those who meditate on losses always lose their next opportunity, and the next opportunity is likely to be a profitable opportunity.