What is the easiest place to make a mistake in this round of the market?

It’s not being bearish, and it’s not being bullish—it’s forgetting to “survive.”

You’ll notice a phenomenon:

When prices change, emotions change too, but the funds may not necessarily change.

Over the past few weeks, the ETF market overall has still seen a fairly large scale of fund outflows, and institutional capital has not fully returned to the state it was in at the beginning of the year.

But the biggest feature of the market is this:

It never starts when all the data is perfect, and it never hits the bottom when everyone is in despair. It always operates within expectations.

After going through several bull and bear cycles, I’ve come to believe more and more:

Most retail traders lose money not because they get the direction wrong, but because they always want to win too fast.

When it’s falling, they rush to pick the bottom.

When it’s rising, they rush to chase after the highs.

When it’s ranging, they rush to trade.

They always feel like they have to do something, but real big money is often made during the “doing nothing” phase.

Many people think trading is about competing in analysis. In the end, what trading really comes down to is endurance—enduring the urge to chase highs, enduring fear, enduring frequent trading, and enduring the need to prove that you’re right.

Because the market does not reward the smartest people.

The market only rewards those who make it to the end.

And the biggest secret of the cycle is also very simple:

The money made in a bull market is often earned by enduring through the bear market.

The money made by trends is often obtained while waiting.

So instead of researching the next K-line, I care more about one thing:

If the market suddenly reverses tomorrow, can my position still let me sleep soundly?
#btc
#eth Because making money relies on trends, surviving relies on risk control, and risk control is the ability most easily overlooked when navigating bull and bear markets.#特朗普宣布美伊停火结束