At 3 a.m., I woke up again. My hands move faster than my brain—when the screen lit up, the trading app had already popped open.

Nothing. No alerts, no messages—just couldn’t sleep.

I glanced at the candlestick chart; it was exactly the same as before I went to bed. I closed it. I turned over, and three minutes later, I opened it again.

You call this trading? No—this is purely messing with yourself.

I’ve seen two kinds of people who lose the most. One is the “bet big once” type—go all in and it’s gone. At least it’s clean and painful in a straightforward way. The other is me: my position isn’t huge, but I keep grinding at it, checking it all day. If I’m losing, I can’t lose it all at once; if I’m cutting, I can’t bear to. By day I think, “Should I exit?” and by night I think, “Just wait a bit longer.” Over and over again, I just hang myself there.

In the end, the money stays stuck there, but the person doesn’t last.

Once a person can’t function, every decision goes off-kilter. It’s not that you come up with bad moves when you’re afraid—it’s when you’re exhausted. When you’re exhausted beyond measure, what judgment is left? Everything becomes reflex—price moves and you want to click in; someone says something and you feel like following the run. Looking back, when you’re in that state, you confirm the action and it’s wrong eight out of ten times.

Later, I finally figured it out: eight hours of watching and eight minutes of watching, the market is still taking the same road. The extra seven-plus hours are nothing but me wrestling with myself.

Today the fear index is 11—extreme fear. In times like this, the market loves to do one thing: first grind your energy down, then when your eyelids are about to stick together, hit you with a move.

So now I’ve set my stop-loss, double-checked my position, and put the phone aside.

It’s not that I don’t care anymore—it’s that watching any longer really has no meaning. What’s going to come will come. What won’t come, staring until your eyes burn out won’t change anything.

Which day was it when you lay down and fell asleep right away, all the way until dawn? #PreIPOs第二期OpenAI认购