A word for newbies who have never experienced the late stage of a bull market, understanding it can save your life.

Once the imitation season begins, remember not to short with long-term positions!

Short-term shorts should only be taken on extremely certain opportunities and must be accompanied by an extremely strict stop-loss strategy (if you don't know what an extremely certain opportunity is or don't understand stop-loss strategies, stay away from contracts).

The most miserable group of people in every bull market is: "It has risen so much, it should drop now. The liquidation price is still 5 times away, so no worries, and I won't use a stop-loss. Watching the liquidation price get closer and closer, ultimately it blows up leaving you with nothing."