Yesterday, many long positions were opened to go long. Some institutions are trading on Trump's rise. This is not a bullish trade but rather a distribution trade.

The bearish sentiment I mentioned earlier is based on a major cycle bottom and not an immediate move to short or go bearish.

Therefore, I will gradually close all long positions next week and switch to a bearish stance.

Since the black swan event, my mindset has not been good. In the past two weeks, I lost a third of my large account’s spot capital and a fifth of my copy trading account. This happened because I lost risk control when the market was performing well. I did not set up tiered take-profit and breakeven stop-loss orders. Then the market began a period of extreme volatility. During this time, it is really easy for people to trade frequently and lose their capital. Thus, contract trading tests a person's capital management and mindset even more.

Because if a contract loses more than twenty-five percent of the capital, it becomes very difficult to recover, regardless of whether the market view is correct or not. The sunk cost mentality can destroy retail investors, leading to a situation where profits are cut off and losses run rampant.

For spot trading, one only needs vision, while contracts are not that simple; capital management and take-profit and stop-loss strategies outweigh everything else.

In 2025, I will give my all to every trade that follows. I will do the wrong things correctly.