There is no top in a bull market, which means that when the market is soaring, no one can tell where the top is. Everyone wants to make more money, but no one knows how high it can go.

What about not eating the tail? No matter how much the market rises, no matter how much it can rise, we will not chase the last part of the market. We have made most of the profits in the front, and we would rather not touch the profits in the second half.

Not eating the tail is actually a strategy of actively giving up part of the profits, the purpose is to avoid risks. Many big guys have optimized this theory very maturely. The operation is "locking in profits", most of the positions first lock in profits, and a small part is left, and the dynamic stop loss line is set. Once the market pulls back to a certain position, the position is automatically cleared.

This can not only ensure that most of the profits are not given back, but also use small positions to gain more possibilities.