There's a saying that has been circulating in the market: "Retail investors struggle with trading cryptocurrencies, and the best outcome they can hope for is just breaking even."

This saying carries profound meaning. It describes the entire scenario of retail investors: "chasing highs, then getting trapped, then breaking even, then closing positions, then chasing highs again, getting trapped, breaking even, closing positions again..." Why do most investors constantly jump back and forth between small profits and losses? Because they can't hold onto gains—they run at the slightest profit, they wait to break even when trapped, and once they break even they take their small gains and leave. This is exactly what jumping between small profits and losses looks like. Those who grab opportunities end up with only marginal gains, while those who miss them mostly wait to get their capital back. But most ultimately end up cutting losses and exiting the market.

The fundamental reason behind this is that investors have an incorrect understanding of investing. Correct investing means buying excellent enterprises within your circle of competence at reasonable prices and holding them for the long term.

To do well in investing, I'll share four essential words with everyone: "avoid predictive trading." Internalize these four words in your mindset. Don't predict price movements whenever you see them—no matter what method you use for prediction, even if it's just a fleeting thought, you must suppress it and wake up in time.