Making ten thousand into one hundred thousand will make you very happy, but making ten thousand into a million and then retracting back to one hundred thousand is a completely different mindset. Human nature abhors losses and tends to avoid harm, which is an innate trait, so the joy brought by making money is far less than the pain brought by losing money.

Although both accounts are the same at one hundred thousand, the feedback from the former is that they have achieved nearly ten times the return on their account, while the latter will only feel that they have lost 900,000 in funds. They will never forget their moment of glory and are eager to return to the peak, but haste leads to chaos, and chaos leads to mistakes.

In this market, I often hear from seniors who have made large sums of money using high leverage in a wave of market trends, only to end up broke or even in a situation where they have to borrow money from their former fans. This is fundamentally because they cannot accept a pullback or failure, and they are too eager to reclaim their wealth from the market, but they seem to forget that this wealth does not belong to them; it merely stayed in their hands for a brief moment.

High leverage amplifies both account profits and losses while also raising your threshold for happiness. Having a high trading threshold is not a good sign because it tempts you to open higher leverage and larger positions to satisfy your terrible desires. Even if you occasionally profit from a wave of market trends, the nightmare only begins when the subsequent pullback occurs.

On the contrary, those traders who use low leverage and strictly control their pullbacks can survive in this brutal market. They do not expect to achieve fame and success from a single market wave; a trade with a 1%-2% stop loss that can yield a total account return of 5% is already very satisfying. These traders do not have to live in fear of being liquidated or in despair over margin calls every day. They may not earn as quickly, but the joy of steadily reaching new highs step by step is much happier than riding a roller coaster back and forth.

The market is never meant to be conquered; it is a mirror reflecting human greed and fear. Your only true opponent is always yourself. The current market remains cold and ruthless, but my heart is incredibly calm at this moment.

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