Let me tell a true story that happened to me personally: many years ago, I was still inside China, and a good friend created a stock trading group, basically composed of elites from various industries, with about a dozen people who regularly exchanged ideas, and their positions weren’t small—some tens of millions, others a few million. Everyone shared tips (stock recommendations), and when they made money, they would send red envelopes.

Among them was someone from the “Board-Daring Death Squad,” who often played short-term trades, and for a while, he was very popular, earning several times in a short period. Later, I told the group that I would follow his trades, and he would manage the trades, sharing the profits and covering the losses if any. At that time, I was running my own business and was very busy. After watching for a while, I felt I was trading too slowly, so I was bewitched and decided to play along with him, handing over an account with over 100,000 yuan to him for management. We agreed that if the loss reached 20%, I would exit, and I wouldn’t expect him to compensate me.

Unfortunately, after handing it over to him, I kept losing money, and soon the account hit the 20% stop-loss line. I was prepared to accept my bad luck and exit, but he kept saying, “Trust me one more time,” and since I didn’t want to lose face, I stayed. I also lost money, and he promised to cover the losses. I trusted him again. Just before the Chinese New Year, he went all-in on a stock related to the holiday, but after the holiday, it opened with consecutive limit-downs, and I lost half of my money again. I tried to contact him, but I couldn’t find him—calls, messages, nothing was answered… In the end, I lost about two-thirds of my initial capital… from over 100,000 yuan to almost nothing.

A reminder to all friends:
1. No single KOL’s analysis will be completely correct or always right. When it comes to investing, you need to analyze and understand more yourself—don’t rely solely on others’ advice.
2. Investing is your own matter; you must manage your risk and position sizes properly, and not blindly follow others’ suggestions or opinions.
3. Don’t go all-in, whether it’s crypto or stocks.
4. Most importantly: don’t trust anyone’s risk promises, especially when they tell you, “If you lose, I’ll cover it!”