Whether it is trading cryptocurrencies or stocks, the first thing you need to understand is what speculation is.

Speculation refers to the behavior of making profits through exaggerated or unrealistic publicity repeatedly conducted by the media.

Its essence is performing to the crowd using all channels.

If you participate in speculative trading and do not understand the underlying logic mentioned above.

All your previous losses, even the tuition fees, are just changes in your personal betting capital.

This is the fourth year that I, Laozi, have been teaching people to trade. To be honest, I have really cut a lot of leeks. I have collected several million in tuition, yet I haven’t taught many people. In fact, my inner self is really quite impacted. Because I actually think what I wrote (Di Lun Jiu Zhang Ban) is not bad. However, I only came to realize when writing the final chapter that my foundational understanding differs too much from that of the leeks. When I was writing the final chapter, I found that I simply couldn't finish it, and I couldn't even elaborate on the previous foreshadowing.

Di Lun Jiu Zhang Ban is great, but it belongs to geniuses.

I know many people say I am bad, with a heart reaching out and appearing dangerous. Here, I thank these people's praise and strive to be a good person for leniency.

This time I will not attract fans by predicting any trends; I will first build a foundational understanding through short content, and then implement it into chart analysis. This is teaching for underperforming students. If you consider yourself a genius, go search for 'Di Lun Jiu Zhang Ban' online and self-study. I have deleted all of it and given up my copyright to this content.

Okay, let's continue with the cognitive discussion from the beginning.

All speculation, in essence, is performance.

And all performances, in essence, are narratives.

When you can understand speculation as narrative, you can feel the dimensionality of the products you are participating in speculation about.

Because usually, when we human individuals narrate, we can only use one person to unfold the operation.

Product speculation is a narrative of a group to a larger group, and during the narration process, multi-dimensional narrative functions are carried out simultaneously.

In simple terms, the same content can be expressed by a large number of people in different ways.

You can see a certain financial magazine using the third person stating: BTC reached 100,000 during the day and then fell back.

You can also see Bitcoin's K-line on the Binance platform rising and then falling, and then use the first-person perspective to express your views on it: 'It has to rise!' 'It's going to fall!' 'It's oscillating again!' etc.

You can also see second-person narratives from big shots like CZ, Musk, or President Jin Mao on Binance Square or Twitter, for example, in the image:

For individual humans, we most commonly use third-person and first-person narratives. Third-person narration has the widest range, first-person narration appears most frequently, and second-person narration is the most flexible, but its narrative range is the narrowest.

This is a way of observing and understanding the world. If you have never observed and listened to your ecological environment in this way before, then you can digest it well now.

I will talk about the purpose of narration in the next section.