When others say that this coin is very good and has much value, you immediately buy a large position in it, and your head is full of fantasies of several times the value. When you buy it at 20 yuan, the price suddenly drops to 17 yuan, and you regret buying it too early; when it drops to 15 yuan, you start to panic but still choose to hold on, thinking that it may rebound soon. When it continues to slide to 10 yuan, you become numb and don't want to watch it anymore and no longer have hope. When the price suddenly rises back to 13 yuan one day, you just feel a little more balanced and have recovered a little; when it returns to 16 yuan, your heart begins to stir, and you start paying attention to it again, hoping to recover your investment as soon as possible. When it touches 20 yuan, you miss the best opportunity due to hesitation; the price falls back to 18 yuan, and you begin to regret your original decision not to sell it immediately. Finally, when the price reaches 20 yuan again, you choose to sell most of it, thinking that as long as you can recover your investment, it will be fine. When it rises to 23 yuan, you completely clear your position, however, the price of the coin did not stop, but soared all the way to 30 yuan, 40 yuan and even 60 yuan. Seeing others making huge profits, you re-enter the market at a high point. Looking back over the past decade, I found that 99% of the people around me entered the market at the peak of the bull market and held on in the trough of the bear market until the next bull market. Almost everyone will choose to leave the market to recover their investment, and then re-enter the market at a new high. There are two results: 1. Hanging on the top of the mountain, 2. Cutting meat, taking a roller coaster ride, not only did not make money but also lost money. What is reflected behind this is the cyclical nature of human nature - the cycle of fear and greed, hope and despair. The law of the market lies in its cyclical fluctuations, and those who truly understand the "Tao" are those who can see through the weaknesses of human nature and the laws of market cycles. Only by mastering this can you go further on the road of investment.
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