Let's see how retail investors lose money in a bull market:
1. At the beginning of the surge: The increase is so fierce, can it really be a bull market? It's rising so much that I'm a bit hesitant to buy more, let's observe for a while.
2. Continuing to surge: Wow, the bull market has really arrived, it's gone up so much that I'm too scared to buy more, let's buy a little to test the waters, and wait for a pullback to increase my position.
3. Surging to the peak: Increase my position!! Use leverage, 200,000 is not a dream, if I don't get on now it will be too late.
4. Starting to plummet: Technical adjustment, increase my position!!
5. Continuing to plummet: Panic selling.
6. Continuing to decline: Stuck for 3 years.