Many people say "the bull market is coming, and you can just sit back and earn passively," but the reality is often different. Just look at the traders around you—while the index rises happily, account gains are often modest. Some have made a lot of unrealized profits a few months ago relying on "feelings," only to give it all back in two or three months; others believe that "good market conditions must be profitable," and keep adding leverage, only to be caught in a wave of correction and get trapped.

To put it simply, these people all make the same mistake: treating the bull market as an "automatic teller machine." They fail to realize a core issue—**a bull market is just a catalyst for amplifying returns; a mature trading system is the real secret to profitability**.

Profits without a system are essentially just luck. When the market is favorable, you make a little; when the trend reverses, you lose it all back. In contrast, traders who consistently make money share a common trait: they all have a set of mature strategies.

**Why do retail investors also fail to profit in a bull market?**

Mainly due to these common issues:

**Chasing Highs**—Buying into popular coins as they rise continuously, without considering whether the price is reasonable or whether it aligns with their entry logic. The result is predictable—getting caught early and becoming a "bag holder."

**Frequent Switching**—Switching to another asset when one is slow to rise, always trying to "catch the strongest one." In the end, constant chasing and selling at highs eat up transaction fees, and good opportunities are missed.

**Ignoring Risks**—Getting carried away when profits are booming, completely forgetting to set stop-losses. Believing "it will rebound after a dip," but small losses turn into big ones, profits are wiped out, and the principal is lost.

**Strategy vs. Luck, How Big Is the Difference?**

True short-term traders never "act on impulse." Every trade they make is based on their trading system—only taking opportunities that meet their criteria. They enter decisively when it's right, and exit without hesitation when it's time. Some leverage the logic of "confirmation of upward momentum + volume synchronization" to double their accounts during a rally; meanwhile, retail traders without a system either miss out on the strongest assets or get caught at the top, ending up with only some "watered-down" gains or even losses.

**What is the real role of a bull market?**

A bull market is essentially a "touchstone"—it reduces overall market risk and increases the probability of upward movement. But this doesn't mean "you can make money without thinking." Those with systems use the bull market to amplify gains; those without systems only expose their problems in a bull market, ultimately being harvested by the market.

**How to establish a replicable trading model?**

The vitality of short-term trading lies in "reproducibility." The core is to develop a set of "quantifiable, executable, and repeatable" trading rules—clearly defining "when to enter, which assets to buy, how much to buy, and when to exit." Use rules to replace subjective emotions, and discipline to overcome human weaknesses. Such a model is like a precise "operation checklist," ensuring every step is traceable, rather than relying on feelings and luck to gamble.

**The conclusion is simple: good market conditions are not a guarantee; a mature system is.** In the same bull market, some make a fortune, while others still lose money. The difference lies here. If you are still chasing highs and lows, frequently switching assets, it’s time to reflect on your trading logic.