Ah, every time I go live, I advise everyone to keep their leverage as low as possible, not exceeding three times, and I suggest that trading frequency should mainly focus on intra-week trading. At the very least, it should roughly maintain a frequency of about 0.8 to once per day...

This leverage ratio and trading frequency are, in my opinion, the limits where ordinary traders are not influenced by emotions. Once the leverage ratio exceeds this range, or the trading frequency is higher than this level, then...

Most people who have not undergone professional trading training or have not developed a stable trading system themselves will gradually enter a state of emotional imbalance or cognitive disorder under these conditions.

The specific manifestation is generally that the levels become smaller and smaller, the leverage becomes larger and larger, and the frequency increases...

Generally speaking, as long as one enters this kind of cycle, the probability is that it will ultimately lead to liquidation or huge losses. The main reason for this behavioral or cognitive vicious cycle is a simple small loss or a missed sell...

In this market, I have observed for a very long time. In fact, those traders who can achieve long-term stable profits can be counted on two hands. According to the current overall magnitude of traders in the market, it is almost as likely to achieve long-term and stable profits (for more than three years) in the secondary futures market as it is to get a top-tier golden dog in a dog PVP.

Many traders have had moments of brilliance, but the problem is that no one can guarantee they won't fall into a situation where one mistake leads to another...

Therefore, I now believe that the most important aspect of trading is not technology, nor analysis, and certainly not data judgment, but rather the control of one's own emotions and cognitive behaviors.

This just happens to explain why those who truly achieve long-term profits are often spot traders and holders...

The fundamental reason for "spot is fine" is not that spot won't crash or go to zero, but rather that the emotional stability of spot holders is much higher than that of futures traders.

Only when emotions are stable can a person lean towards rational decision-making.