#分享美股交易赢英伟达股票

Cryptocurrency exchanges are increasingly connecting to the U.S. stock market. Some say it's good, others say it's bad. Whether it's a blessing or a curse will have to be tested over time. From the current perspective, it doesn't seem very optimistic, after all, there has been a sharp decline, especially with the funds in altcoins becoming even tighter.

Today I don't want to analyze whether it's a blessing or a curse; I just want to remind everyone that the water in the U.S. stock market is very deep. The 80/20 rule wasn't invented by the crypto market; it comes from the stock market. If you've been unsuccessful trading cryptocurrencies, then jumping into stocks now will probably still be unsuccessful most of the time.

Cryptocurrency exchanges are modeled after stock exchanges. Many early crypto traders were failures in stock trading. So don't forget, stock trading can also lead to losses, bankruptcy, and even suicide. Every year, more people around the world lose heavily in stock trading than in the crypto market, and among them are some extraordinary talents:

Jesse Livermore: "The King of Wall Street speculation" in the early 20th century, shorted U.S. stocks in 1929 and made about $100 million (equivalent to 28 billion RMB today), but due to heavy leverage, emotional trading, and large positions, he filed for bankruptcy in 1934, owing far more than his assets, and committed suicide in 1940.

Isaac Newton: participated in the "South Sea Bubble" speculation in 1720, initially earned 7,000 pounds but chased the high after missing the bottom, ultimately losing about 20k pounds (equivalent to about 3 million pounds today, far exceeding his annual salary), lamenting, "I can calculate the orbits of celestial bodies, but I cannot predict human madness."

Irving Fisher: Yale economist, highly regarded before 1929, heavily leveraged stocks (such as Remington Rand) and claimed "stock prices have reached a permanent plateau"; lost $8–10 million during the stock market crash (including funds from friends and family), went bankrupt in the early 1930s, lived off Yale rent, and never paid off his $730k debt before he died.

Benjamin Graham: "Father of value investing," mentor to Warren Buffett, lost over 70% of his fund during the Great Depression of 1929–1932, nearly went bankrupt, was forced to sell assets, and only recovered after years of restructuring, which led to the concept of "margin of safety."

John Maynard Keynes: British economist, went bankrupt after a margin call in 1920 due to shorting European currencies; before 1929, his net worth shrank by 75% due to commodity futures, then turned to long-term value investing, reversing his fortunes.

Winston Churchill: invested in stocks during a visit to the U.S. in 1929, lost about $100k (or 500k pounds) in a single day, nearly went bankrupt, but was saved by a friend's counter-account, and then stayed away from the stock market.

A more recent example: in 2023, Warren Buffett's most successful lifelong partner, another stock legend, 99-year-old Charlie Munger, suffered a huge loss after heavily investing in Alibaba. The old stock king, who had been trading U.S. stocks his whole life, had to publicly admit that investing in Alibaba was a huge mistake.

So, do you think you are better than any of the above?

This wave of crypto exchanges connecting to the U.S. stock market has given many new generation crypto traders an illusion—that they can finally trade U.S. stocks directly with cryptocurrencies! It’s like opening a new world of wealth! But in reality, this is largely an illusion held by the younger generation in China.

Because opening a U.S. stock account is difficult, transferring funds from crypto to stocks is difficult—mainly because you are Chinese. Overseas users have always been able to do this, so it’s not that hard. In fact, even Chinese people wanting to trade U.S. stocks have many channels, such as the brokerages penalized this time—Tiger Securities, Futu Securities, and Changqiao Securities—who have been helping mainland Chinese open overseas U.S. and Hong Kong stock accounts for years. But most young Chinese crypto traders have stopped trading stocks due to poor A-share performance, difficulty opening U.S. and Hong Kong accounts, and challenges with fund transfers, so they are unaware of these channels. These channels for Chinese traders to access U.S. and Hong Kong stocks have always existed, but few have made fortunes from them. Similarly, overseas users can open accounts and trade U.S. stocks freely, but only a few get rich from trading stocks. The 80/20 rule has always been valid in the U.S. stock market; this rule originally comes from here.

So, the U.S. stock market is not some new frontier. Don’t be reckless—don’t throw your remaining crypto capital into a market you understand even less and risk losing it all. The U.S. stock market has no daily price limits; stocks can drop 90% in a day, like the once-cash cow "New Oriental" and "TAL Education" (Xueersi). And U.S. stocks can legally go to zero—companies don’t have to run away; they just delist. When a stock falls below $1 for a period, it is forcibly delisted. For example, the "GigaDevice" I’ve held for years, once touted as the top mining machine stock, is now in trouble!

What does that old saying go? "If you gaze into the abyss, the abyss gazes back at you." Whether trading crypto or stocks, if you want to profit, the key isn’t which market you trade in, but improving your knowledge and trading skills. Otherwise, you might end up losing even more elsewhere. $BTC $ETH