The winning rate is as high as 99%! He made 50million a year and became a legendary trading master

Today, I would like to introduce to you a mythical figure in the international financial community. He is mark Westin, a legendary trading master and one of the world's top ten fund managers.

He worked as a real estate agent and later became a full-time trader, becoming one of the Legendary Traders on Wall Street.

How good is he? It's good for most traders to have a trading success rate of 50%. The success rate of 75% is very amazing, while the success rate of mark Westin is almost 99%. Since 1980, mark Westin has made money every month, and there are no trading months with losses.

In his thousands of trading days of foreign exchange speculation, only 17 trading days were at a loss, 9 of which were caused by system failure.

Switch to trading and start a career in trading

In 1972, mark Westin was also a real estate broker, and a friend happened to be a broker of commodity futures. A conversation with a friend ignited his interest in trading.

Mark Westin opened an account with his total wealth of 8400 dollars at that time, and with the recommendation of his friends, he made long corn according to the recommendation of a grain analysis report.

Because I didn't know the trading market first, I didn't know that I had overbought when I was long. Three days later, his account was only $7800, for which he could only admit compensation. The setback of the first deal dealt a great blow to his self-confidence.

Seven months later, with the $24000 he earned from his hard work, he reopened an account and entered the market again.

This time, he first studied the gold market, learned how to analyze charts, and also had some understanding of the concept of overbought and oversold. He believes that if you buy in an oversold market and leave enough reserve funds for margin calls twice, you should not lose money.

Mark Westin used this trading method and maintained a good performance for several years after entering the market.

Two failures, sink down and study

After three or four years of trading, mark Westin has made 1million yuan. When he went to Europe for vacation, he fell in love with an ancient castle in southern France. He wanted to buy it and hoped to make this money from the market.

Therefore, he held a large number of long positions in soybean futures and planned to appear on the last trading day of the week, but the weather was not good. The soybean market rose again at the beginning of the next day, but suddenly reversed in the end, closing at the limit.

In this transaction, mark Westin's soybean price fell by the limit for five days. The original account was $1.5 million, and the amount decreased by about 10% every day, resulting in a total loss of $600000.

On the verge of collapse, he began to doubt whether he was suitable to be a trader, and believed that his past profits were all luck.

Afterwards, he reflected that the goal of this transaction was not based on market analysis, but was dominated by material desires, without considering risks at all.

Since then, for a long time, he no longer contacted commodity trading, began to study hard about market trading, visited his predecessors, and studied modestly

 

 

Later, he participated in a trading competition hosted by two floor traders of the Chicago foreign exchange options exchange. At that time, 47 traders participated, and each trader opened a $100000 account to trade.

Three months later, mark Westin changed $100000 into $900000. According to foreign media reports, he made $50million in 2012.

Trading experience sharing

So, how does mark Westin maintain a high winning rate?

He believes that the most important thing in trading is to be cautious at all times. Successful traders are usually afraid of the market, which forces them to choose the entry time carefully. If the market situation is wrong, they simply don't trade.

How to choose the trading time?

 

He believes that when deciding to enter the market, the most important judgment factor is to wait for the market to lose the momentum of rising or falling, and reverse operation.

He believes that the omnipotent technical pointer does not exist at all, and traders must learn the use of various indicators, such as: trend chart, wave theory, a special analysis method, feynnsea coefficient, cycle, popularity, moving average and various momentum indicators to judge the timing of entry and exit.

Suggestions for beginners:

He believes that we must learn how to face losses, which is more important than how to learn to win in trading. In addition, to stop losses as soon as possible, most traders are enduring losses for a long time. They believe that losses will not expand, and they will also take profits prematurely.

Because I am deeply afraid that the fruits of victory will slip away, but this concept is wrong.

Finally, he advised traders not to be overwhelmed by the joy of profits. One of the most difficult things in the world is how to make continuous profits.

Once they make money, people will want to continue to make more money. In this way, it is impossible to doubt the correctness of your established trading principles, which is the reason for self destruction.