This is my understanding of retail investors.

1. The people in Europe and America who are extremely keen on "left-side trading" basically follow the principle of "let profits run, cut losses quickly," with a focus on trend following.
There’s a saying here: "When others are fearful, I am greedy." The result is that every time there’s a drop of 30%-50%, people rush to buy the dip, thinking this is the bottom, only to see another 30% drop and continue to buy... until they really hit rock bottom, holding onto all the trapped positions, completely losing their bullets.
2. Particularly believe that "technical analysis can predict the future" such as Chan theory, wave theory, Gann, Fibonacci, harmonics, candlestick patterns, volume-price... can't help but stack all theories with buffs, completely unaware that trading in the short term is a probability event!
3. A strong obsession with "I want to be a smart person"; retail investors on the US stock market especially like to buy ETFs, honestly capturing the market beta.
Here, I can't do it. I must outperform the market. I want to catch a 10x coin. I want to buy at the lowest point and sell at the highest point.
The final result is that alpha didn't get any, beta didn't get all, and a huge amount of IQ tax was paid.
4. The emotional amplifier attributes include high survival pressure, significant wealth anxiety, and severe class solidification → especially hoping to achieve class leap through a "bottom-fishing - doubling".
So they have a particularly strong gambling nature, like to go all-in, enjoy high leverage, and like to listen to stories and emotions.
Answer me, are you such a retail investor?
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