Every bottom of a bear market where people buy the dip, and every top of a bull market where they sell, many people lose profits and principal during the consolidation phase of the bear market. The problem lies in poor discipline, unable to break the habit of high-frequency trading, always trying to do T+0. Holding spot during a bull market is fine—rising prices mean profit. But once the market turns bearish, they try to go against the trend and profit from the decline, starting to trade high-leverage contracts. These people are very smart;