Recently, liquidity has been very poor, and I am doing a review. What resonates with me is that every wave of grand narrative has its own rhythm and window, and opportunities are never evenly distributed.

When the market is good, focus on making money fiercely, reducing socializing and travel.

When the market is bad, the only thing we can do is: watch more and act less, reduce the rate of entering the pool, as there will be plenty of time to play during this period.

Never use the enthusiasm of a bull market to engage in the activities of a bear market. During this time, many people are actually suffering losses as liquidity retreats; often, it’s the dopamine pleasure from gambling that they have gotten used to, gambling for the sake of gambling.

Because when many big opportunities arise, if you are not prepared, missing them means you have to wait for the next round.

I have always admired those friends who understood the essence of the industry early on. This is a large casino without regulation; whenever a new narrative comes, they boldly rush in, find their own rhythm, take a hefty scoop from the pool, and then continue to wait.

So, don't force a move when liquidity is exhausted. Right now, the only thing you need to do is: ensure you are always at the poker table, have bullets, and are in good shape, so that when your opportunity comes, you can go all in at the first moment.