2026-01-11 15:24:44

Having read quite a few investment books, I realize that many emphasize returns and trading techniques, but what truly deserves repeated reflection is a fundamental logic overlooked by most: the essence of investing is essentially a "learning to avoid mistakes."

Before blindly pursuing returns, you should first ask yourself three tough questions: What exactly am I investing in? Why do I think I can make money? If I judge incorrectly, how much could I lose?

Why do so many people stumble in the market? It's rarely because they can't catch the bottom; more often, it's due to a few deadly habits—going all-in on unfamiliar assets, leveraging without understanding the risks, and mistaking a few lucky breaks for skill.

One perspective that really struck me is: the safety margin is always more important than judging the market direction. You might be right about the trend, but if the valuation is ridiculously high, you'll still get trapped. Conversely, even if your judgment is average, buying at a sufficiently low cost can help you survive longer. In the end, investing isn't about how many times you make money, but whether you've been eliminated in one shot. This book may not give you instant pleasure, but it can help you go further in the market.

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ChainWanderingPoet

· 7h ago

Here are some distinctive style comments: --- That's the real truth. Most people lose money because they think about getting rich overnight and never consider how to exit alive. --- The part about safety margins really hit me. Buying low is the way to go; chasing the market at high levels is just giving away money. --- The problem is that the vast majority of people can't even answer those three questions, and then they go all in haha. --- Instead of learning some tricks, it's better to learn how to cut losses first—that's real skill. --- I'm just wondering, why are people so obsessed with chasing overestimated things, while good opportunities at low prices are ignored? --- Leverage is truly the biggest poison in the crypto world. I've seen too many get liquidated directly because of leverage. --- The phrase "Luck as skill" is just perfect. I've suffered losses because of it.

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0xSherlock

· 7h ago

Those who still dare to heavily invest despite not understanding should really reflect on themselves. But to be honest, most people simply can't do it. The concept of a safety margin is easy to talk about, but sticking to it is really difficult. This is probably the hardest part of investing. I've seen too many people fooled by luck. The key is to survive longer, not to make quick profits. The market loves to eliminate people like that.

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TheShibaWhisperer

· 7h ago

Really, stop-loss is a hundred times more important than chasing huge profits. People who don't understand and just go all-in will pay the tuition fee sooner or later. The safety margin is described perfectly—buying low always beats catching a falling knife. A single all-in can wipe you out, more than losing ten times profit, it's a blood loss. Hey, that's why some people can stay steadily winning, while others go to zero in one shot. Instead of studying how to make money, it's better to think about how to survive. Only after losing money do I realize that surviving is more difficult than making money.

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LiquidationWizard

· 7h ago

Really, those who dare to hold heavy positions despite not understanding are just asking to be wiped out. --- As for the margin of safety, simply put, don't play with fire. --- Being eliminated all at once hits hard. --- No wonder so many get liquidated; it turns out to be these few problems. --- I like the logic of judging as average but buying cheaply. --- It took a few losses to realize that surviving is more important than making money. --- Trying to leverage when you don't understand? That's just asking for death. --- Margin of safety > direction judgment, remember this and you'll win half the battle. --- The problem is, most people can't even ask these three questions. --- Many have been eliminated all at once; this trick has caught many. --- Mistaking luck for skill—that's some serious arrogance. --- Being trapped and liquidation both stem from the same root cause. --- Books may not give pleasure but they help you live longer—that's a harsh truth.

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Anon4461

· 7h ago

The safety margin has really been underestimated. I was right about the direction before, but I got trapped and couldn't get out. Looking back now, it's ridiculous. There are too many people who still dare to hold heavy positions despite not understanding, and I’ve done this stupid thing myself. Only by avoiding quick profits can you survive longer. It’s easy to say but really hard to do. That’s why most people still lose money; the mindset problem is fundamentally unchangeable. Avoiding mistakes may sound boring, but it’s actually more important than anything else—lessons learned the hard way.

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