Luck hurts you the most!
The money that luck brings to a person can cause the deepest harm, leading them to mistakenly believe it is their own ability, resulting in taking even greater risks and ultimately incurring larger losses. This principle is not understood by everyone, as everyone longs for good fortune and dreams of becoming rich overnight. In a person's imagination, one stroke of luck, earning money, and knowing when to stop can lead to a life of eternal happiness. However, the nature of humanity is dissatisfaction; once enormous wealth is gained through luck, one will certainly not be satisfied and stop there, but will instead become more aggressive in their risks, placing themselves in danger. Since luck is inherently unrepeatable and is a chance event rather than a repeatable opportunity, the next time luck may not be there, resulting in total loss and destruction.
Sai Weng lost his horse; how could one know it is not a blessing? Failure, on the contrary, is a gift from heaven, preventing you from taking excessive risks that cause great harm. Accidental luck, making a lot of money once, can harm you instead; you will definitely think about trying again, believing it is your own ability, invincible, and take excessive risks, ultimately very likely ending up with nothing. If you can learn from failure, continuously improve your understanding, and gain the truth, then this is the greatest gift of life.
The market plays tricks on people; individual power is extremely small. It's easy to become overconfident in favorable conditions and to collapse in unfavorable ones. Even trading masters like Druckenmiller have experienced a collapse in mentality during the peak of the internet bubble, resulting in buying at the highest point and suffering heavy losses, temporarily withdrawing from the scene. The market tests human nature the most and reflects human nature the best. Whether fortunate or unfortunate, things can change in an instant, leading to great joys and sorrows.
Lucky people often do not realize it; they receive good fortune but always believe it is their own achievement. A person who cannot perceive their blind spots and does not acknowledge them is blind to what they cannot see. If the performance is average, it may likely be due to their own efforts, but if the performance is extreme, such as accurately buying low and selling high, it is likely due to luck. The most important distinction between luck and ability is whether it can be repeated. Just like Buffett's fable, out of 300 million Americans competing in a coin toss, although the probability is extremely small (one in 300 million), there will eventually be one person who defeats everyone and wins. A low probability does not mean it cannot happen. This is the mechanism of luck. There will always be lucky people, and low-probability events will occur. However, if a gorilla wins the national coin toss competition, is it luck or skill? It is very likely luck. Unless it wins multiple times, with each competition, the probability of luck becomes very small. If the winner of each coin toss competition is always a gorilla from the Omaha Zoo, then Omaha must be different.
Luck and ability are often incompatible. What is gained through luck is often unattainable through skill. Because one does not grasp the truth, does not know the rules, and does not understand the underlying logic, yet achieves miracles through luck, such miracles cannot be sustained. In the long run, the only way to succeed without relying on luck is to grasp the truth. Whether in the stock market, investment/trading, or life, only by mastering the essence can one succeed without relying on luck and sustain it for a long time.
Luck hurts you the most, truth sets you free! $BTC
