Under normal circumstances, it takes at least three bull markets for ordinary people to change their fate in the market by relying on speculation.
In the first round, when you first enter the market, you can only have a preliminary understanding of the market, or even a superficial understanding. You cannot have a clear and correct understanding of the cycle and the laws of market operation. This bull market will most likely end with a loss, and even if you have made money before, you will not be able to keep it.
In the second round, with the experience of the last time, you have seen the cruelty and horror of the market and are considered an old leeks. You will become extra cautious and no longer reckless. This is a double-edged sword. It protects you from pitfalls and also brings you some prejudices, causing you to miss some new narratives and new concepts. Although you will not lose much money in this round, you will most likely miss the most beautiful boy in the entire bull market.
The third round is the stage that truly belongs to you, because you have fully understood the market and cycle, have a complete system and strategy, and begin to try counter-cyclical operations at the end of the cycle. As long as you fully believe in the experience and lessons accumulated in the first two rounds, overcome weaknesses and control leverage, no longer make the same mistakes as the first two rounds, and be sensitive and brave enough to the new concepts that appear in this bull market, you will most likely reap your own wealth in this round.
