1. Guan Yu didn’t set a take-profit point. Even though he flooded the seven armies and shook all of China, he got liquidated after two big players teamed up to suppress him. 2. Liu Bei went all-in with heavy leverage. At the Battle of Yiling, he lost his entire 300,000-family fortune. 3. Zhuge Liang traded too frequently. Six expeditions to Qishan, all ended in failure. 4. Ma Su relied on technical analysis. At the Battle of Jieting, he broke through the support level and crashed. 5. Jiang Wei added to his position on floating profits. Nine campaigns in the Central Plains, but one bad move cost three wise men. 6. History will prove Sima Yi’s greatness—staying in cash and waiting for the market crash.