There are three types of actions: what should be done, what one wants to do, and what one actually does.

Investors should avoid leverage, maintain a reasonable asset allocation ratio, rebalance regularly, and not rely on short-term predictions;

What people want to do: continuously make short-term predictions, chase trends, and maximize profits;

What most people actually do: in a bull market, they taste sweetness, leverage to chase hot spots, in a bear market, they face liquidation, and have no money to be greedy when others are fearful. This cycle repeats several times without learning lessons.