The current market is in extreme panic, and many people can't help buying the dip, going heavy to bet on a reversal.

Here are a few iron rules I stick to:
1: Being in cash is not missing out. If there is no confirmed signal, stay on the sidelines. Forced trading only amplifies losses.
2: Strictly control single position size, use moderate leverage, no all-in, no borrowing.
3: Don't hold losing positions. When stop-loss is hit, exit decisively. Reject revenge trading to make back losses.
4: Give up the fantasy of getting rich overnight. Steady compound interest far outweighs single huge profit.
5: Don't predict tops or bottoms; follow the trend. Opportunities come from waiting, not chasing.
During the consolidation and bottoming phase, keeping your hands still is more important than frequent trading. Survive in the market first before you can talk about profits.