I came across a college student's four times of liquidation experience on Binance Square, and I felt quite saddened! Some people may laugh at him for being stupid, but looking at it from a different perspective, he just dug a hole that most of us may take years to step into and walked through in a few months. If we were to extract something from these stories, I think it would be the four typical mistakes in investment—— one ⃣ Treat luck as strength At first, he only took a few hundred yuan, tried it casually, and made money. This is precisely the most dangerous opening - short-term good luck can create an illusion that one has mastered the rules, and as long as they replicate them again, they can continue to win. Napoleon once said, 'Victory has a hundred fathers, but defeat is an orphan.' Victory covers up mistakes, while failure reveals the truth. The market is best at reclaiming illusions. Short term profits are not hard power, but a probability event of luck. The true ability is to maintain one's trading logic through countless ups and downs. two ⃣ Blindly adding fuel and ignoring risks The second time he borrowed 500u, thinking about taking a shuttle back. As a result of the market trend, it instantly returns to zero. This is a common mistake made by many people: they think that if they have less money, they can be indifferent. But the fact is exactly the opposite - the less the principal, the more it needs to be protected. Because small capital simply cannot afford a complete loss, especially in stages without other cash flows, it is even more important to cherish every penny of one's chips. three ⃣ Emotional outburst, treating trading as gambling He threw 1000u for the third time and wanted to start being more stable. But due to the explosive mentality of keeping an eye on the market, being led by the nose by the market, chasing after gains and killing losses, and ultimately accelerating losses. Buffett said: The biggest enemy in investing is not others, but oneself. There are actually many opportunities in the market, and the real fatal thing is not the volatility, but the loss of calmness in the volatility. four ⃣ Trust others and abandon independent thinking Finally, he met an elder brother and operated with him. The early stage went smoothly, but the other party's operational error caused him to lose all his money together. This is the most fatal blow: handing over decision-making power to others. There is no savior in the market. Whoever you listen to for orders and insider information will have to bear the ultimate responsibility on their own. Independent thinking is not only a compulsory course in investment, but also the starting point of all freedom. True maturity means that even if one is wrong, they must still be wrong in their own logic. Only in this way can you have the opportunity to extract your own experience from your mistakes. Four times of liquidation, the summary is only four bottom lines—— Luck will deceive you, Treasure the principal, Emotions should be restrained, Independence requires persistence. Simply put, it is actually the lifelong practice of most investors!