From the case of US steel speculation, we can see that profits and losses come from the same source

Livermore was defeated at the time and only borrowed a small amount of capital from others. He entered the market when the price was close to breaking through 100 yuan. Why didn't he insist on trading this ticket? Because the subsequent increase was amazing. This involves not only looking at the fundamentals, but also combining the technical aspects, and changing the target when he didn't understand.

What if he insisted on using this method to speculate in other stocks? Then his so-called high probability will return to equilibrium, and the profit and loss will eventually come from the same source. At an extraordinary moment, starting with an extraordinary method only gives him a temporary rescue method with a high probability relative to his cognitive system. What if he continues to use this method to trade? I think there will be an equivalent corresponding loss model.

Later, after each profit, he would take out half of the profit as capital. This is the valuable experience he gained from his experience in the speculative market. No matter whether your funds at that time are losing or winning relative to the original, as long as you are eating big meat from the market now, you should withdraw the funds for emergency use.

The short-term top of Bitcoin $BTC has been established. The operation method is the corresponding technology of the top, which is nothing more than continuing to decline, or consolidating, and there is also a probability of rebounding and reversing sharply. It depends on the probability. Losses must be controlled in order to use time to exchange for space.