Succeed by researching hard and thinking clearly

Jun 06, 2021 By Edward Weston

A very talented speculator once told me that I should not argue with it when I see a dangerous signal. I'll stay away from it! Then, in a few days, if everything looks good, I'll come back. I think that if I'm walking along the track and see a train coming at 60 miles an hour, I'll jump off the track and let it go, instead of standing there foolishly. After it's gone, I can always get back on the track if I want to.

These words vividly show a kind of speculative wisdom, which I will never forget.

Strangely enough, the trouble that most speculators have is something inside them, which makes them not brave enough to close their positions when they should.

They are indecisive. In their hesitation, they watch the market changes a lot in a direction not good for them.

'Obviously, we should be bullish in the bull market and bearish in the bear market. It sounds funny, but I have to understand this general principle before I can put it into practice. It took me a long time to learn how to trade according to this principle.

Analyzing is an essential part of this game. It's important to start at the right time, and it's also important to stick to your positions. However, my most significant discovery is that one has to study and evaluate the overall situation to predict the possibility of the future.

I don't gamble blindly and don't concern about how to master operational skills anymore, but I do concern about winning my success by researching hard and thinking clearly.

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