The more I look, the more I feel that the Asian market has a kind of fateful passion for bottom fishing.
Several characteristics are too obvious.
1
Addicted to left-side trading.
Over in Europe and America, they let the trend run and cut losses quickly.
Here, we can't help but reach out when we see a 30% drop; even if it drops another 30%, we still feel the opportunity has come.
We keep bottom fishing while being educated, and in the end, our bullets are exhausted, and our positions become museum exhibits.
2
Full faith in technical analysis.
We can look at anything: wave theory, Gann's methods, harmonic patterns, candlestick shapes, volume and price.
It seems that if we stack enough indicators, we can predict the future.
But the market will never change its course just because you drew a chart.
3
Must be a smart person.
American retail investors love to buy SPY, QQQ, etc., and enjoy beta all the way.
As for Asian retail investors, they must go against the trend, must seek alpha, must catch tenfold coins.
In the end, they neither catch alpha nor fully enjoy beta, but they do pay their IQ taxes diligently.
4
Emotional amplifiers.
High pressure, heavy anxiety, narrow channels of rise.
Everyone wants to rely on a single bottom-fishing opportunity to turn things around.
That's why they're so daring to go all in, so bold with heavy positions, and so fond of listening to stories and emotions.
Meanwhile, many retail investors in the U.S. just treat investments as a part of their retirement allocation.
Overall, we want to win quickly,
while they only want to steadily become rich.
