He once owned dozens of BTC, but in the end chose to leave the market with resentment, a ten-year review of an old player! These days, a friend from my studio was chatting with an old friend whom I have known for many years. I actually know him as well. He entered the encryption industry earlier than many so-called 'old players' nowadays. I have been exposed to cryptocurrency since around 2014, and have experienced mining, mine construction, early-stage projects, as well as experiencing the earth dog market and contract trading. At its peak, there were over 40 bitcoins in hand. If we look back today, it is a wealth that many people cannot imagine. But after several years of cycles, he ultimately chose to leave the market and drive wild boars or taxis ， Now start your own life again. That night, the three of us had a long voice chat, and my biggest impression was that his cognition was actually very high. He has his own understanding of industry cycles, market patterns, project logic, and many details in transactions. Many viewpoints are still valid today. But the problem is, understanding the market does not mean you can make money from it. Many people will go through a stage where they don't understand when they first enter the market, so they dare to rush forward. Later on, as I learned more and learned more, I became afraid and limited my progress and decision-making! Knowing that the banker will wash the market and that the market has cycles. Knowing that many projects will eventually return to zero and understanding the risks behind leverage. So I became more and more cautious, more and more conflicted, and when I saw an opportunity, I always wanted to wait for a more perfect position. By the time it was confirmed, the market had already gone a long way. In the end, it was discovered that it was not a lack of understanding of the market, but rather a failure to translate cognition into action. The cruelest thing about the trading industry is that the market won't reward you just because you know more. You can analyze the direction. But it may not necessarily hold onto the space. You can understand trends, but you may not be able to withstand fluctuations. You can know what will happen in the future, but you may not have enough funds and patience to wait. Trading truly tests not only knowledge, but also execution, discipline, fund management, and stability in the face of temptation and fear. In this era, information is becoming increasingly transparent, and when you open your phone, everyone can see it, Bitcoin trends, macro data, industry news, project information. The information gap of the past is slowly disappearing, but what truly widens the gap still exists! Funds, time, circle, experience A person with an account of several thousand U and a person managing millions of funds may make completely different choices when looking at the same opportunity. Not because of who is smarter, but because of different conditions behind it. Many high cognitive traders have a common problem of overthinking and doing too little. I have studied countless cases and seen countless cycles. Knowing the reasons for others' success and failure, but ultimately being trapped by one's own cognition. I dare not place a bet because I see too much risk. Because I know the market is complex, I have been unable to take action for a long time. Due to understanding too many possibilities, I have lost the ability to perform simple tasks. High cognition should be a weapon, but if not executed, it can also become a shackle that binds oneself. In fact, in the end of trading, one will realize that making money does not rely on knowing all the answers, but on establishing one's own methods. Knowing what market trends belong to oneself, knowing when to take action, knowing when to wait, and knowing when to admit mistakes. The most powerful people in the market are not those who judge correctly every time, but those who survive countless mistakes and constantly improve themselves. Many people ask why some people know a lot but still haven't changed their lives? The answer may be simple! High cognition is just a map, action is the way out. We can temporarily run out of funds or resources. But don't stay forever (understand) Turn ideas into systems, turn experience into rules, Turning emotions into discipline, opportunities always belong to those who are prepared. In recent years, I have increasingly realized that the market is not eliminating people who are not smart. Many times, those who understand a lot but cannot execute in the long run are eliminated. The true masters are not those who seize every market trend. But in one bull bear cycle after another, always staying on the table and having extra chips to lay out for the next round! Because the person who wins in the end is often not the one who sees the farthest. But rather the person who walks the most steadily and lives the longest.