90% of people die from frequent actions; investors must learn to hold long-term and time their entries.
Charlie Munger's most ruthless saying in his life is: 'Big money is not made in buying and selling, but in waiting.'
Most people die from 'not being able to resist'; they feel anxious when they're out of positions, they get itchy and go all in, and when the signals are unclear, they exit — the result is always burning money in the cycle of chasing highs and cutting losses.
Real trading has two stages:
First stage: Learn to be in cash.
Cash is your bullet, and being in cash is your invisibility cloak.
99% of the time, the market oscillates in noise; the more urgently you pull the trigger, the easier it is to turn yourself into a sieve.
Only by holding back can you consider it the beginning. Because you held back, you have already shaken off 99% of retail investors.
Phase Two: Learn to invest heavily
Munger said: "You make money by waiting." Wait for the target with a very high win rate and great odds to appear at the right moment, then strike firmly like a lion to the end.
The opportunity has come, requiring an all-in level of faith.
When a definite signal appears, hold on tightly, do not be shaken out by volatility, and do not be tempted to leave by small profits.
Heavy investment is not gambling; it is crushing the market with all firepower under extremely high odds.
The end of trading is not indicators, not candlesticks, but two words: patience.
Be as still as a mountain, so that you can move like thunder;
Endure to the extreme to win to the extreme.
