Stone Wang mentioned in his book that he likes to visit entrepreneurs who have experienced failure before.

He found that entrepreneurs rarely truly go broke, but excessive risk-taking can easily cause a business to collapse.

This morning, I spoke with an experienced trader with seven years of experience. He made steady profits in the first half of the year, but has almost disappeared in the past two months. I asked what he was busy with, and he smiled and said, “Busy not trading.”

This is not a joke, but a summary of many years: when the market is bad, the most important thing is to do less and control your positions.

His approach is very simple:

· Light positions, low leverage, review historical market conditions

· Cultivate mindset, most signals in volatile markets are noise

· Keep cash, cash is an opportunity during downturns

“Only liquidity can buy the future.”

Bad market conditions do not destroy principal, but confidence. Those who can truly seize opportunities are those who know how to stay steady during downturns.