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However, no matter how good a theory or tool is, it always has another side. There is no perfect trading theory or tool in the world, and every trading model has its strengths and weaknesses. There is no method in the market that can predict future changes with 100% accuracy.

Thus, the prerequisite for correctly using any trading theory or tool is that the trader must have the ability to think dialectically, which is the foundation of a trader’s success. Otherwise, even the best sword in the wrong hands is just a piece of scrap metal, while scrap metal in the right hands can become a valuable sword. At the same time, even when a trader believes they have absolute confidence and certainty in a trade, they should still prepare for risk control to prevent significant losses from misjudgments.

Trading skills and knowledge can be learned, and market experience can be accumulated. But more importantly, cultivating a mature mindset and putting it into action quickly is a long process of practice, pursuit, and understanding. As a trader, you face significant gains and losses daily, and the responsibility and pressure are immense. From a rational perspective, it’s normal to experience wins and losses, and failed or losing trades are part of the path to success. However, since humans are not omnipotent, achieving a state of being indifferent to external gains or losses and remaining calm amidst the daily ups and downs is extremely difficult.

As the ancient saying goes, “A sage has emotions but is not burdened by them.” This means that sages are not without emotions, but they can control them, not letting emotions become the deciding factor in their actions. As a trader, it’s natural to feel emotional highs and lows due to gains and losses. However, whether a trade outcome is good or bad, the next trade must be handled based on strategy, not emotions. Controlling emotions and desires is no easy task in a world full of temptations, even though it’s easy to say.

Therefore, I believe that speculators are not merely “scholars” or “wise men” but are “doers” among scholars and “endurers” among the wise. Action rather than words, and practice rather than theory, is the essential characteristic of a professional speculator. In a sense, modern financial markets’ professional speculators cannot be trained through traditional academic systems. Even the world’s famous universities do not have majors specifically for speculation.

Modern higher education emphasizes intellectual training too much, and the distant teacher-student relationships do not meet the educational requirements for nurturing top-level professional speculators. In my imagination, the ancient Chinese tradition of learning calligraphy, painting, and martial arts, where master-apprentice relationships are emphasized, could be a model for cultivating professional speculators.