#大户持仓变化 When observing the market, you will notice an interesting phenomenon.

On bullish days, fingers instinctively want to press the buy button. On bearish days, you can’t wait to open a short position. Holding a position feels even more extreme — always thinking you should add a little more. The direction itself isn’t the main issue; the real problem lies in one word: frequency.

The market tempts you every day. Bulls have their stories, bears are not short of reasons, and these "seems pretty plausible" signals are everywhere. You want to buy the dip, then turn around and short, and after a few days, you think your previous position was too conservative… Over time, you go from being a "waiting-for-an-opportunity person" to a "machine driven by impulses."

What is the dividing line here? It’s not about judging whether long or short is correct, nor about your technical skills. Ultimately, it comes down to one thing — whether you can withstand the temptations that seem reasonable but are actually just noise. True opportunities are rare; impulsiveness is the norm.

Historically, there was a person named Livermore, whose story vividly illustrates this point. After going bankrupt, he did something most people wouldn’t dare: he did nothing, he didn’t trade. Just waited. Waited for a very long time. Until the market truly presented a structural big opportunity, he focused his fire and went all-in on Bethlehem Steel (a major turnaround trade). (If you’re interested, you can look up this piece of history; it was indeed a brilliant comeback.)

People around him thought his secret was that he called the shot correctly that time. But what did Livermore himself say? He said, "The main reason I could win is that I could wait." Not waiting until he felt like trading and then acting, but only making a move when he had no choice but to trade.

This is the routine of top traders:

They don’t trade every day, but only bet at critical moments.

They don’t actively seek opportunities, but let opportunities come knocking.

They don’t trade as much as possible, but make fewer, more precise trades.

Whether it’s long or short, human nature gradually increases the frequency of action. The more chaotic and scattered the trading, the less momentum you have when a real opportunity arrives.

So, those who make money actually have just one secret: it’s not that their judgment is better than others’, but that they can endure longer. They don’t trade often, but every trade is effective.

$BTC