Dear partners on the trading journey:

As we just finished this year, we all took a common stance—settling all our past positions, gains and losses, and experiences in one go. Account figures speak for themselves, but more importantly, your understanding of the upcoming market trend matters. Today, I want to discuss a few things that are more worth betting on than the market’s candlestick charts.

**First: Treat health as your core position.**

Your body is like your principal. No matter how volatile the market is, your physical and mental state determines whether you can withstand the next cycle. Adequate sleep, regular diet, and regular exercise—these may sound old-fashioned, but they form your strongest "moat." Any excess returns from trading ultimately rely on this stable upward baseline. Staying up late to watch the market or binge eating to chase gains—those calculations simply don’t add up.

**Second: Systematically practice "cognitive dollar-cost averaging."**

Markets don’t have eternal hot spots, but the insight to traverse cycles comes from continuous learning. Don’t chase every piece of information; instead, allocate your brain like a diversified portfolio—read classic works, learn new skills, and converse with experts. These investments, which seem to have no immediate return, often bring you unexpected "non-linear growth" at a turning point.

**Third: Value "emotional cash flow."**

The companionship of family, support from friends, understanding from loved ones—these are the most stable liquid assets in life. They may not be as exciting as capital gains, but during market winters, they provide a continuous "margin of safety." Spend more time with the people you care about—this is the highest return long-term holding.

In the upcoming market, black swans may still be lurking somewhere. But true wealth is not just account figures; it’s also how you manage your time, your resilience in facing uncertainty, and your ability to protect what you love.

May in the new year, your strategies be clear, your execution firm; risks controllable, returns satisfying; and most importantly, your heart be at peace, and life warm.

We are not just traders, but builders of life. Every rational decision is a step closer to a better life.