There's a saying that circulates in the market: "Retail investors struggle with trading cryptocurrencies, and the best outcome they can hope for is to break even."

This saying carries profound meaning. It captures the entire scenario of retail investors "chasing highs, then getting trapped, then breaking even, then closing positions, then chasing highs again, getting trapped, breaking even, closing positions... over and over again." Why do most investors constantly oscillate between thin profits and losses? Because they can't hold onto their gains—they take profits too quickly, and when they're trapped, they wait for a breakeven opportunity. Once they break even, they take their small profits and leave. This is the cycle of jumping back and forth between thin profits and losses. Those who catch opportunities end up with only marginal gains, while those who miss opportunities mostly just wait to get their capital back. However, most ultimately exit the market with losses and cut their positions.

The most fundamental reason for this is that investors have an incorrect understanding of investing. Correct investing means buying excellent enterprises within your circle of competence at reasonable prices and holding them long-term.

If you want to do well in investing, I'll give everyone four words: "Forbid speculation." Internalize these four words into your cognition. Don't predict every time you see a price move. No matter what method you use to predict—even if it's just a fleeting thought—you need to suppress it and wake up in time. $BTC ‌$ETH ‌