1. Losing money without cutting losses and failing to hold onto profits is a common problem for most retail investors.
2. In investment, the most important thing is just four words: go with the trend. Shorting during an upward pullback is suicidal; adding leverage is a fancy way of committing suicide.
3. The market direction is the collective expectation of all participants; do not impose your own will on the market.
4. Win rate is not important at all; the profitability of a trading system has nothing to do with its opening win rate. Don't envy others for making a few points; they may be losing money that you don't know about. Be patient and wait for your own opportunity.
5. Not all upward candles in the market will make you money.
6. Opportunities are waited for; good hunters are not impatient. In a volatile market, no one can make big money.
7. In the secondary market, it's not only about 'buying, buying, buying'; closing positions, reducing positions, and holding cash are also actions.
8. For retail investors with a few million in capital, there aren't that many imagined enemies like 'institutional players' in the market. Your biggest enemy is your own greed and fear.
9. The secondary market never lacks stars; what it lacks are the veterans.
10. 70% of people in the market lose money; really, there aren't that many experts.
11. Stay rational and respect the market; in front of the market, everyone is a pawn. Proceed cautiously, as sudden wealth is not closely related to me.
12. Some trades, even if they result in a loss, are still the right choice; some trades, even if they result in a profit, are still wrong.
13. Compared to returns, risk control is much more important.
14. Do not develop feelings for your holdings. Significant losses often come when confidence builds up slowly. The trades that lead us to lose the most money might be the ones we are most confident about.
15. Each of the above points is very difficult to achieve and requires a long time of practice. There is a long, long way to go between knowing and doing.
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