How do retail investors lose money in a bull market? I saw a statistical data that says most individual investors in the stock market will be losing money in 2025. In 2025, the overall market will rise, and many stocks will also rise. So why are there still so many retail investors losing money? The specific reasons may vary, but from the perspective of the phenomenon, the following profit and loss paths may be a common problem for many retail investors: earning small amounts of money when making profits, increasing investment after making profits, losing large amounts of money when losing, and then reducing investment when losing, thus creating a cycle. For example, a retail investor first invested 100000 yuan in the stock market and earned 50%, which is 50000 yuan. He thought that it was easy to make money by trading stocks, that he was a master and genius at trading stocks, that trading stocks was much better than going to work, and even thought that trading stocks was better than doing anything. So, he pieced together 350000 yuan and added it to his stock account, totaling 500000 yuan to continue trading. After a 20% drop, which is 100000 yuan, he couldn't take it anymore and couldn't sleep all night. Then he endured the pain and ended up losing 50000 yuan in the total. After the loss, I thought that the stock market risk was still relatively high, and I needed to control the risk. I couldn't buy too much and bought less before deciding. Then I found that the stock market had risen again, the stocks I was tracking had also risen, and the people around me who were trading stocks had also made money, while I didn't make much. After thinking about it, I decided to increase my position and investment, but ended up with a loss again The longer the bull market lasts, the greater the volatility during the process, and the more times retail investors repeat the above actions.