Over the weekend, something happened that I found quite interesting:
My wife complained to me: If my son made a mistake, my wife would teach him a lesson, and my son was very rebellious and didn't want to listen to her. But it's strange that my son is willing to listen to me.
So I asked my son, why is this happening?
My son said to me: Because if I make a mistake, my mother will just scold me. But my father will analyze the reason for me first, and will only scold me after making mistakes after emphasizing it many times.
I understood immediately after listening, because I often say to my son's education:
I can allow you to make mistakes, but you can't make big mistakes, and you have to learn from your mistakes and correct them.
Just to give an example:
I asked my son to memorize English words. If my son made a mistake in dictation, I would not criticize him right away.
This is not over yet, I will tell my son that tomorrow I will randomly check the words I recited wrongly, if I make a mistake tomorrow, I will make a mistake and hit the palm three times...
Have you noticed that for the first time I make a mistake, I will not criticize him, let alone punish him. The principle I believe in is to educate my son to learn from his mistakes. Parents cannot "punish without teaching".
This is a very simple truth. In fact, it is the same in trading. How you face the mistakes you make determines how far you can go .
Last Friday, after the non-agricultural employment data was released, the market fluctuated a lot. Unfortunately, I made a very mentally retarded mistake before the non-agricultural employment data was released:
According to the trading system, the trading signal was not actually triggered, but I entered the market ahead of schedule.
It is obviously wrong to enter the market early, and I have also found out that the best way is to get out immediately, but I hesitated, the data will be released soon?
Do you want to give it a try?
Originally, I was also optimistic about the weakening of the US dollar!
As you all know, last Friday’s non-agricultural data greatly exceeded expectations, and the dollar rebounded sharply in an instant. Within a minute, all the stop losses on this order were triggered. Can you guess how much I lost?
I won't talk about it here, if I add the account I traded, this data is very scary...
So I was very upset last Friday night, why did I have such a fluke mentality?
In fact, this is not the first time that this kind of mistake has been made. In fact, mistakes are inevitable in trading. In fact, the best way is to correct the mistakes as soon as possible, instead of taking chances.
I have been reflecting on it for two days on the weekend, and I must not make such a low-level mistake again in the future.
To put it bluntly, among the people I know who trade, there are almost no people who know how to learn from failures and mistakes.
Pay attention to my wording: almost none.
This may be the difference between me and most investors. I have seen countless investors fall down countless times in one place, go bankrupt, and never learn from failures and mistakes.
People are so stubborn, so I said before:
Don't hit the south wall, don't look back, and don't die until the Yellow River, this is a commendatory word.
What he meant was that when he hit the south wall, he turned around, and when he reached the Yellow River, he gave up.
In reality, he hit the south wall, and he would keep hitting, hitting himself until his head was bleeding, and finally he hit his brains and died.
After arriving at the Yellow River, he jumped into the Yellow River and threw himself into the river to die.
Anyway, I would not be such a person, I will admit my mistakes, and try not to make similar mistakes next time.
Alright, let's talk about the situation.
The RMB fell below 7 today and is currently around 6.934.
In the past, I hardly traded RMB, but in recent years I have started to study it, and gradually became familiar with the attributes of this variety.
Among all foreign exchange varieties, I think the yen and the renminbi are relatively simple, the fundamental analysis is relatively simple, and the direction can be seen more clearly.
Let me make a bold prediction. From November this year to the first half of next year, there is a high probability that the RMB will appreciate. As for the target of appreciation, I will give the first target: around 6.8, and it is hopeful that it will reach around 6.5 next year.
There are a lot of trading opportunities recently, and it seems a bit overwhelming. However, after I reflected on the weekend, I realized that there are not many real good opportunities.
The fluctuations in December must be very violent. Among them, there will be US CPI data on December 13 and the Federal Reserve interest rate meeting on December 15.
Good luck to everyone.
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