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It is said that there are three major illusions in life: the U.S. stock market is going crazy, the national football team is going to win, and a bull market definitely means making money! We can't say much about the first two, but regarding the third point, even Buffett's teacher, the investment guru of Wall Street, Mr. Graham, once said: "A bull market is actually the main reason why ordinary investors lose money." This is indeed true; sometimes a bull market can be easier to lose money in than a bear market, especially for small investors and beginners. Take the A-shares as an example; around the National Day, millions of new and old shareholders rode a roller coaster for half a month, some became overnight millionaires, while others found themselves in heavy debt overnight. A programmer lost 480,000 in 7 days, joking that he represents the retail investors. There was also a web writer who said before the holiday that he made 3 million and declared that he became rich, but after the holiday, he lost everything and returned to update honestly. The attitude of many small investors shifted from “Buffett is no big deal” to “I'll sell as soon as I break even.” After all, when a bull market arrives, experts will urge you to invest everything. Retail investors, in a moment of excitement, regardless of their knowledge of stock trading, rush in with their savings, and many even borrow money, frequently chasing highs and cutting losses, ultimately getting deeper and deeper into trouble, providing a lot of help to the old investors to break even.

As for the bear market, everyone knows it, so they are conservative; even if they lose, it won't be too exaggerated. Let's take some data; during the bull market of 2015, those retail investors who contributed 90% of the trading volume ended up with only the top 0.5% of large investors making money, while 85% of small investors lost a total of 250 billion. And during the subsequent three and a half years of decline, those small investors with less than 100,000 in capital lost the least due to their low investment. This brings us back to the issue of mindset; often, the less experienced the investor, the bigger the appetite. They don't want to miss good opportunities, but at the same time, they fear the risks, so what should they do when they want both? They can only rely on the market and pay tuition fees for proper education.

Invest a little idle money moderately, and that’s about it. After all, money can be made endlessly, but it can also be lost completely.

Keep up with my posts every day and don't fall behind, I will definitely bring you gains and growth! Wish you successful trading.