$BTC Greed and cognitive biases are indeed major enemies on the investment journey. Here are a few core viewpoints:

1. The essential reasons for retail investors' losses

1.1. Behavioral dominance of the mind

Greed leads to "aggressive actions after gains and a gambler's mentality after losses," with dopamine driving frequent trading. High-frequency traders have a loss probability three times that of smart investors.

Example: Major players use technical indicators (such as head and shoulders, golden cross) to create illusions, inducing retail investors to chase prices and take over.

1.2. Cognitive and informational disadvantages

Retail investors rely on lagging and fragmented information (such as news and rumors), while institutions possess funding advantages and professional analytical capabilities.

Key reminder: Information can be easily manipulated; it's essential to cultivate independent judgment abilities (for example, by approaching from macro policies and market sentiment).

2. Breaking the deadlock strategy: from "human nature confrontation" to "system building"

2.1. Counter-intuitive operations: reverse thinking and position management

Wait with no position: Avoid blind trading, wait for market panic to hit a low point (such as widespread sell-offs by retail investors and concentrated negative media coverage) before entering the market.

Position control: Taking historical opportunities like "tax increases in country M" as an example, one can gradually build positions in undervalued ranges (such as half positions) to reduce risk.

2.2. Building a multi-dimensional cognitive system

Three major dimensions:

- Probability thinking: Acknowledge market uncertainty, formulate strategies using win rates and profit-loss ratios.

- Game theory thinking: Understand the psychological games between major players and retail investors, and avoid easily chasing prices and selling at losses.

- Ecological thinking: Examine investment targets from macroeconomic perspectives (such as East-West policy confrontations) and industry cycles.

2.3. Minimal execution principles

Reduce