One is, if we take a super high-quality target, such as BTC, and buy it at 25,000, and it drops to 16,000, I think it is better to increase the position!
The second category is that the underlying asset was originally a high-quality asset, but the market or the underlying asset itself has changed significantly. For example, ENA is due to changes in the market (VCB is no longer popular) + very bearish sentiment, and the underlying asset itself has also undergone expected changes, such as the decline in the yield of USDE.

Group member: If you stop loss, you will find that you have not caught any project, and then your principal is gone. Stop loss is only suitable for traders.
Dayu: I agree with this logic, so I was confused for a long time because what I learned was mainly value investing*, and Buffett did not reduce his holdings during the 2008 financial crisis.

But when I think about the main targets I have operated, I find that those that run fast can make big profits, while those that run slowly often easily go from making big profits to losing money. What's going on?
In fact, it is not that the investment logic is wrong, but that the B circle is different from the US stock market, and the fundamentals of my target are also different from Buffett and Duan Yongping's Apple.

Group member: In the short term, the market value is impossible to be that high. But people always filter the things they like.
Dayu: You can think so. For example, the B circle is very fomo. If something is good, everyone will rush to buy it immediately, and it will become very high in the short term.
So the valuation of emotions accounts for 90% of this, and this 90% runs very fast, such as Bome and Pepe. That is based on the target, always evaluate the emotional part, how much is the bonus
For example, I half-positioned ena at 0.66, and the highest was 1.5, because I was also very convinced, I pledged it, but I didn’t expect the B circle to be so bearish so quickly, nor did I expect vcB to suddenly form a consensus at home and abroad, so the emotional bonus retreated, and the market couldn’t rise either.
I suddenly became very embarrassed, so I had to unlock and keep reducing some positions - because half of the position was too much for me, I couldn't afford extreme situations
So my logic for speculating in B is mainly to observe the different behaviors and chip distribution of retail investors and major players.

Friends:
Because the B circle is made up of air, a balloon blown up by consensus, with a very short life cycle, and any long-lasting friendship will lead to loss.
The essence of B speculation is a little real value plus a lot of emotional game between the main players and retail investors.
It is better to know how to sell than to know how to buy. The top is bought by retail investors. Selling requires technical assistance, and most people do not have the technology. If you understand this principle, you will know when to escape.
Dayu: This is a great perspective. Investors in U.S. stocks often decide to hold a target for 3-5 years. That is, once they buy at the bottom, they will hold it for 3-5 years. If it falls in the middle, they will make up for it. In addition, they hope that the overall business performance will be good in the three years.
If that's the case, then Circle B is a copycat B, and it's best to hold it for a year! If you hold it for a year, if there is nothing wrong with the target, especially in a bull market, it's enough to make money. The saying that the big rise that occurred in 10% of the time was all bought by retail investors is heartbreaking...
Think about how retail investors bought in the inscription craze and how they were trapped in the end. It's scary.