Trends are not techniques; trends are collective emotions

Why do most people fail to profit from major market movements? The strangest thing about markets is: during small moves, everyone is trading. During major moves, many people have already left the game. I used to be the same way. When a move was just starting, I didn't dare go all-in. I always felt it hadn't been confirmed yet. By the time the trend played out, I finally entered. Then came a pullback, and I got shaken out. Later the move continued, but I was no longer in the game. That's when I slowly understood: many people don't fail to see the trend. They just can't hold the trend. There's a concept in economics: short-term volatility. Markets oscillate constantly even within trends. But once people see a pullback, they naturally become fearful. Because the human brain is extremely sensitive to losses. So many traders would rather make small money than endure pullbacks. Zhuangzi said: "You cannot discuss ice with a summer insect." Many people who haven't experienced trends find them hard to understand. Trends aren't actually about technique. Trends are collective emotions. When more and more people start believing in a direction, prices will continue moving far.

A few reminders:
1) Real major moves often begin very ordinarily.
2) Oscillations within trends aren't danger; they're normal.
3) If every pullback makes you want to exit, it means your position is too large.
4) Big money doesn't come from prediction; it comes from holding. When Livermore made his biggest profits, it wasn't because he predicted the market. It was because he sat through the trend. He said something very simple: big money is made by sitting and waiting.
Have you experienced this?
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