Question 1: In trading, is technical skill or mindset more important?

Technical skill and mindset complement each other.

Trading techniques are like the sharp sword in our hands, while trading psychology is like our brain. Thoughts guide actions. If a sword is very sharp but used improperly, it won't only fail to perform its intended function but may even harm oneself.

However, having only a brain without trading techniques might also lead to disadvantages in the trading world, so these two cannot be separated, nor can we say which one is more important. To make a profit, both are necessary.

For instance, money management, which is highly related to trading psychology, is often overlooked by many people. But if you trade with a light position, the psychological pressure will be less, the profit and loss ratio won't be too extreme, and the mindset won't fluctuate much, leading to better execution. When you also possess excellent trading techniques, making money is almost a sure thing. But many people haven't considered this issue and prefer to go all-in, which is very unwise.

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Question 2: Teacher, do you think it's better to trade part-time or full-time?

I have always advocated for trading part-time.

There are two main advantages to being a part-time trader:

Firstly, having a stable job income, treating trading as a side business to increase income, and not taking gains and losses too seriously can lead to a relaxed and happy trading mindset, which is actually a psychological advantage in trading.

Secondly, part-time trading mostly adopts medium to long-term strategies, with light positions and a broader perspective, making trading plans in advance, and simply executing them.No need to sit in front of the computer for long hours staring at the screen, nor will one's psychology be affected by the fluctuations in prices. Just go to work when it's time to work, and live life as it should be, the advantage of long-term holding is particularly evident.

In the early days when I first started full-time trading, I watched the market the whole time, staying in my own "little black room," experiencing extreme joy and sorrow with the rise and fall of the market. In the early days, I almost turned myself into a nervous wreck. Many people cannot get out of this, so do not take the risk, do not challenge your own human nature.

Question 3: Teacher, the success rate of the trading system is okay, but the trading frequency is too low. What should I do?

There are two most direct solutions to increase the success rate:

First: Increase the number of varieties.

If one variety is traded 10 times a year, 10 varieties will be traded more than 100 times a year. With more than 200 trading days in a year, an average of one trade every two days is a comfortable trading frequency.

Note: Different varieties have their own characteristics, and one strategy does not perform the same for all varieties. It is necessary to review and test.

Second: Reduce the time frame.

A small level trades 20 times a year, while the 15-minute level is basically 80 times. The ratio of the number of k-lines between the 1-hour level and the 15-minute level is 1:4.

Note: Review and test the trading frequency and success rate of small levels, as well as the distribution of trading opportunities over time. Test the data, and only execute if it is feasible.Question 4: What to do if the market moves against you after a breakout?

Let me directly propose a handling strategy.

When the market breaks out and the trend goes against your order, if a reverse structure forms, you can close half of your position. Keep the remaining half and observe the trend changes. If a stop loss is triggered, then end the order; if not, and the market forms a pattern in the original direction, replenish the reduced position.

For example, after entering a long position, if the market turns bearish and forms a bearish breakdown structure, close half of the position and hold the rest. If the stop loss is not triggered, and a bullish breakdown structure forms again, re-enter the market to take back the reduced position.

This approach is more flexible. Reducing the position can lower the amount of the stop loss, giving the trader a greater psychological advantage, which facilitates execution.

Question 5: What are the differences between MT4 and MT5?

MT5 is an upgraded version of MT4.

Interface: MT5 feels more advanced, with a cleaner interface that better aligns with contemporary software aesthetics. In contrast, MT4 now appears noticeably outdated.

Functionality: MT5 offers additional features compared to MT4, such as more time frames. While MT4 has 30 indicators and 18 drawing tools, MT5 boasts 70 indicators and even drawing and charting capabilities, although the core functionalities remain unchanged.

Popularity: Most platforms still use MT4, some platforms operate both MT4 and MT5 in parallel, and few platforms exclusively use MT5. Many people choose between MT4 or MT5 based on the platform they are on, using whatever the platform provides.I have been using MT4 for trading since the beginning, and to this day, I am still accustomed to using MT4.

Finally, a reminder to everyone:

There are many counterfeit versions of MT4 and MT5 for Android phones in the app stores. When downloading, you must be vigilant. If you really can't figure out how to download it, send me a private message and I will guide you.