Investment and speculation are nothing more than probability judgment/position management/trading decisions.
Whether you are value investing on an annual basis or chasing meme coins on a minute-by-minute basis.
The essence of profit and loss is,
First, can you make an objective and accurate judgment of probabilities;
Second, can you manage position and risk reasonably;
Third, can you be patient enough to wait for a certain probability before taking action.
No matter how skilled or experienced you are, the probabilities suitable for you also appear randomly and are uncontrollable.
This is the difference in mindset and its impact on the final outcome.
Still, the same saying: bulls have their strategies, bears have their play.
They won’t lead their followers to liquidation, nor will they blindly open positions.
All seek stable victories, steady progress; those who want to profit should keep up!
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