After years of trading, I've seen too many people repeat the same mistakes. At the root of it all, most people's problems come down to one thing: lack of confidence in their own logic.

The moment the market drops, they immediately start doubting themselves. Even if gains fall short of expectations, they question their own judgment. This isn't caution—it's a collapse of psychological resilience. What's more painful is that this doubt directly leads to two fatal consequences: First, they can't hold their positions. Even though their stop-loss and exit points are set correctly, because they lack conviction, they end up being emotionally hijacked and cut their losses prematurely. Second, when buy opportunities come, they don't dare to act. Even with the best opportunity in front of them, doubt psychology makes them miss it.

Interestingly, this problem has a twin brother—blind faith when prices rise. These two phenomena are often inseparable. Once the market starts moving upward, people suddenly become overconfident, thinking their logic is sound. But this "confidence" at this point is often just false feedback from the market movement itself, leading directly to chasing highs.

Bottom line, it's human nature's fault. We're naturally sensitive to uncertainty and easily swayed by short-term volatility. There's no shortcut to breaking out of this vicious cycle. It requires self-learning and repeated training to reprogram this system.

Only those who can get past this hurdle gradually touch the threshold of true trading. Those who can't are destined, for life, to cycle between chasing rallies and panic selling—ultimately becoming nothing but the market's ATM.