📉 What is a retail investor who has been educated by the market for a long time but still hasn't learned?

This refers to a certain type of person:

They seem to have a lot of trading experience, often saying "I've done contracts for five years, I know when to pump the market."

But in reality, their account balance keeps decreasing, and the harder they try, the more they lose.

Despite having experienced liquidation multiple times, they just can't change their habits:

- Emotional trading

- Not setting stop losses

- Doubling down and going all in

- Revenge trading

- Not reviewing trades, relying on intuition and guessing

The result is:

They spend time, lose money, and exhaust themselves, yet they are still going in circles, unable to produce even a stable profit record.

🧠 Why can't they learn?

Because trading is not something that can be mastered simply by accumulating time.

It tests:

1. Cognitive level: Do they understand probability, risk, and expected value?

2. Self-discipline: Can they resist the urge to trade and wait for opportunities?

3. Emotional control: Can they endure floating losses and avoid emotional trading?

4. Execution: Can they strictly follow the rules without changing their minds at the moment of trading?

These are precisely the qualities that most "retail investor personalities" lack.

So they:

On the surface, they have poor trading skills, but in reality, their mental structure is not mature enough.