In investment, we will encounter countless ordinary failures, which cause us to lose money, but it seems that we gain no experience when looking back.

However, failures under the "accurate prediction + heavy position" system are completely different. Each failure implies a substantial reconstruction of knowledge, and even the perspective on projects is completely different.

Because when I feel "no one understands this project better than I do," I believe I have made an accurate prediction and taken a heavy position. Not having a position when you are right is equivalent to wasting opportunities, and wasting opportunities is tantamount to killing the future.

However, if the rating for accurately predicting an investment project is 100, and I have thoroughly assessed 30 of the available information, I would consider that "no one understands this project better than I do." However, only when encountering major failures will I realize that there are significant flaws in the system and substantial biases in the information.

Basically, over the past few years, I have been going through this process. At each stage, I have been full of confidence, but in reality, understanding investment is a process from 1 to 100. Compared to before, my system is much more complex now. However, if you were to ask me about my understanding of the market and projects, I would actually be less confident than before and more in awe of the omnipresent risks.

So now I've been mining some FDUSDT on Binance and it feels really comfortable…

The more you know, the less courageous you become.

But ultimately, in order to grow, one must constantly pay the price for their cognition.

The most misleading thing in investment growth is: it seems like I understand everything, it's all "just like that," but I can't seem to make big money, and I console myself by saying that I haven't lost money.

In fact, losing money is necessary, the key is how the money is lost and what is gained.

The advantages of having a larger or smaller amount of capital are very obvious:

People with a large amount of capital can use a 1% position to participate in opportunities with 100 times the high risk, and that 1% is equivalent to a heavy position for 99% of people.

While people with a smaller amount of capital need to cherish every opportunity they take. Every move must yield results: either gain money or gain wisdom - it's best not to just gain pleasure every time…

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