Important things said three times, 90% of the big drops in A-shares every year all happen within these four fixed time windows. Even if Xu Xiang or Duan Yongping come, if you're not fully out of the market, no matter how much you earned before, you'll have to give it all back.

No matter how skilled your stock trading techniques are, no matter how much profit you've made this year, as long as you hit these key points and don't know when to rest or stay out of the market, you can earn a lot initially but will lose it all in a few days to the market.
Many retail investors lose money their whole lives because of a misconception: always thinking you need to hold positions, trade every day, and make money every day.
Actually, the A-shares market doesn't focus on technical analysis; it emphasizes rhythm, capital flow, and timing windows. If you can't time the market or rest properly, working hard all year, you'll be wiped out in the last big drop.
Today, I won't talk about how to catch limit-ups or how to pick stocks; I will only discuss survival and risk avoidance, and when you must exit the market.
The following four key time points are the annual A-shares risk calendar. Memorize them, and you'll be able to protect your principal steadily and outperform most retail investors.
As the old saying goes: knowing how to buy isn't a skill; knowing when to sell is a master’s skill; being able to stay out of the market is the mark of a true veteran.
If you don't want to work hard for half a year only to lose everything overnight, these four nodes must be etched in your mind, especially the first one, which is coming soon. Be sure to read carefully!
1. Mid to late April each year: Performance big test, risk zones erupt (risk zones erupt)
Why is April prone to big drops every year?
It's simple, all listed companies must submit their annual reports and first-quarter quarterly reports before the end of April.
Quality companies announce their results early;
Problematic, junk, or storytelling companies delay until the last few days to release their reports.
Any company that releases financials only in late April likely hides something, either a performance雷 (big drop) or hidden bad news.
Even hot topics that were heavily promoted earlier will see institutions fleeing en masse if earnings don't meet expectations, with ruthless sell-offs.
When facing annual report losses or continued quarterly losses, stock prices can crash sharply, making it impossible to escape.
Therefore, after mid-April, avoid high-flying themes and stocks without earnings, only stay safe and avoid chasing.
2. End of August each year: Mid-year reports released, stories all exposed
Many stocks in the first half of the year rely on concepts, hype, and expectations, soaring high.
By late August, half-year reports are out, and it's clear whether they are genuinely profitable or just storytelling.
No matter how loud the hype, if earnings don't match, capital immediately withdraws.
Institutions fear bubbles most; once they see the logic can't hold, they sell off regardless of the cost, and valuations quickly revert.
Remember this: in late August, only keep the strong, discard the weak; all stocks without earnings should be cleared.
3. End of October each year: Institutional year-end, collective profit locking
After October, the year's big picture is set; all third-quarter reports are in.
Major funds, institutions, and main players stop pushing prices higher and start closing positions, adjusting portfolios, and locking in annual gains.
It's like farmers after harvest, no longer planting, just storing grain for winter.
In the stock market, this means large-scale portfolio adjustments, profit-taking, and active retreat.
This decline isn't a shakeout; it's a genuine liquidation—falling fast and hard.
In late October, don't bottom fish recklessly, don't bet on rebounds; watching and holding steady to protect the year's gains is most important.
4. Mid to late December to early January: The darkest window of the year for losses
This period at year's end is when funds are most tight.
Banks recapitalize, companies close their books, retail investors withdraw money, all trying to exit.
Fund managers rush to improve rankings, dumping stocks on each other, with no market support.
Foreign capital also settles and withdraws in large quantities.
Three-party funds selling simultaneously make the market naturally weak, with high risk.
After mid-December, non-core sectors should reduce, clear, and rest over the New Year.
Finally, a heartfelt message:
Stock trading is a long-distance race, not a sprint.
When the market is good, anyone can make money; when it's bad, protecting your capital is the real skill.
Follow the rhythm of capital flow, avoid the four major high-risk windows, don't hold stubbornly, don't go against the trend, and don't busy yourself aimlessly.
Control your hands, hit the right points, and you'll be able to survive steadily and gradually earn big.