CryptoGuider

, I overheard a veteran stock market investor who has been in the business for 10 years. He had a large position in a stock that was delisted today by the STAR Market, even though the current market environment should be a bull market for A-shares. He suffered a huge loss and told me that he doesn't plan to sell the rest. He said he would accept the delisting. He used to be a confident and successful investor who made waves in the A-share market.

I'm sharing this today not to mock, but simply to share this case with my followers. In stock trading, investors love logic, but then rumors and gossip fly everywhere: which stock will be restructured in a certain month, which stock will be acquired at a certain time, and all sorts of supposedly positive news, and the logic behind this stock's rise or that stock's rise. I just want to say, it's all nonsense. For you, a small retail investor, the only tool you have to communicate with the market is the candlestick chart. For so-called news to reach your ears is practically like it's on the news. Don't believe it. Even if you've heard a rumor before and it's been verified, don't blindly trust the source. Look at the candlestick chart, learn some fundamental analysis, and do your own research. Consider the risk-reward ratio and position sizing. Think back to when we bought .DOGE at 0.4, got trapped when the trend broke, and then kept adding to our positions, believing in potential positive news like the potential gains of X, or holding onto .DOGE ETFs. Didn't we all understand the market's positive outlook and hold on? Now, with .DOGE at 0.1, doesn't a stop-loss seem meaningless? It's all about understanding the potential positive market news while ignoring the ruthlessness of capital.
What I find unbelievable is that someone with 10 years of trading experience, when I asked why he didn't use a stop-loss, replied that he initially thought it was a bear trap, but when the real plunge occurred, his psychological defenses against stop-losses were breached—30%, 70%. He had long since missed the stop-loss line, and not adding to his position was a rational move.
Another potentially fatal flaw is that, despite having 50,000, 500,000, 5 million, or even more in his account, his trading strategy didn't adjust as his capital grew. You might think he considers those few hundred thousand in his account insignificant, but in reality, he was a former colleague of mine at a car factory, and now his monthly take-home pay is only around 4,000 yuan. His breakthrough was when he went all-in on Changchun High-Tech and made his first million with a small amount of capital.
Last year, I started diverting funds from cryptocurrencies to stocks... When we were discussing this, I mentioned buying Alibaba around HKD 110. He said these stocks are in a trillion-dollar market and won't rise much; I should buy smaller ones because they rise faster. I said larger ones are more stable and give me peace of mind. Of course, he didn't elaborate further, and I didn't press him for details. Today, I'm just sharing a case study
to learn from the experience; that's all. If you think I'm making this up, just scroll past.
Finally, I also have numerous examples of people who bought cryptocurrencies and lost everything after listening to others. Anyway, I don't trust any KOLs or friends in the crypto community's recommendations; I only trust candlestick charts and risk/reward ratios.