Recently, I saw people discussing the saying “Fortune favors those who take risks,” but I found that most traders only truly understand half of it.

The complete meaning of this proverb is, in fact, two-sided. Many people remember only the first half—thinking that as long as they dare to take risks, they can make money—but the real key lies in the second half: wealth and honor can also be lost in danger.

I’ve seen too many traders’ stories. When the market is favorable, they make some money, feel like they’ve found the secret, start increasing leverage, and trade more frequently. Then one black swan event wipes out all the gains they made earlier—and they even have to pay extra. That’s why it’s said: when seeking, you succeed one time out of ten; when you lose, it’s nine or ten times out of ten. Be cautious when you’re making money, but when you’re losing, you need to act quickly.

My current understanding is that “Fortune favors those who take risks” is not wrong in itself—but the prerequisite is that you have a sound risk-control system. No matter whether you use algorithmic trading or manually monitor the market, you can never compromise on respecting the market.

There’s a pretty vivid metaphor: when you stare into the abyss, the abyss also stares back at you. That’s how the market is. If you want to profit from it, it’s also thinking about how to get you out of the game. So rather than spending every day thinking about how to make big money, it’s better to first build your risk controls solidly. That’s the real secret to staying alive in the market long term.