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It is said that there are three major illusions in life: the US stock market is going crazy, the national football team is going to win, and a bull market definitely makes money! The first two are hard to say, but the third point was even mentioned by Buffett's teacher, the investment guru of Wall Street, Mr. Graham: "The bull market is actually the main reason ordinary investors lose money." It is indeed true that sometimes a bull market can be easier to lose money in than a bear market, especially for small investors and beginners. Take the A-shares as an example; during the National Day holiday, over a hundred million new and old investors rode a roller coaster for half a month, some became rich overnight, while others went into debt overnight. There was a programmer who lost 480,000 in 7 days, jokingly calling himself a representative of the leeks. Then there are online writers who said they made 3 million before the holiday, claiming they became rich, but after the holiday, they lost everything and honestly returned to continue updating. Many small investors' mentalities shifted from being just like Buffett to quickly selling as soon as they break even. After all, once a bull market arrives, every expert will lure you to invest all your money. Retail investors, in a moment of excitement, regardless of whether they have any stock trading knowledge, rush in with their savings, and many even borrow money, frequently chasing highs and cutting losses, ultimately sinking deeper and deeper, working hard to help the old leeks escape.

As for the bear market, everyone knows, so they are conservative; even if they lose, it won't be too exaggerated. Let's take some data as an example: in the bull market of 2015, those retail investors who contributed 90% of the trading volume, ultimately only the top 0.5% of large investors made money, while 85% of those small investors lost a total of 250 billion. In the subsequent 3.5-year correction period, those small investors with a cost below 100,000, due to their low investment, actually lost the least. So this brings us back to the issue of mentality; often the more inexperienced, the bigger the appetite. They don't want to miss good opportunities but are also afraid of big risks. Generally, for this kind of situation, wanting both sides, what to do? They can only rely on the market and pay tuition to educate themselves well.

Invest a little spare money moderately, that's about enough. After all, money can’t be earned endlessly, but it can be lost completely.

Keep up with my posts every day and don’t fall behind, they will definitely bring you harvest and growth! Wish you successful trading.