A few days ago, a friend discussed a very popular viewpoint with me — that as long as the market continues to rise consecutively, there's no need to sell, and if you really need to act, you should wait until the first downward candle appears. It sounds quite reasonable, but I think this logic has some issues.

How can retail investors possibly know in advance that the main force plans to hit several consecutive limit-ups? Who can predict when the big players will suddenly dump the market? The key point is, by the time a bearish candle appears, it's already after the fact. The market has closed, and you can only operate the next day.

Nowadays, although some markets have shown eight consecutive bullish days, the gains are only about a hundred points. If the main force directly dumps an 80 to 100-point plunge on the first bearish candle, and then gaps down 30 to 50 points the next day, would you still dare to sell? By then, it’s already a stop-loss and cut-loss situation. Will the big players obediently wait for you to place an order? Obviously not.

Of course, if you are heavily or fully invested, you might enjoy the thrill of ten or even a hundred consecutive bullish days. But is that realistic? Frankly, no one can precisely sell at the highest point or buy at the lowest point. Waiting to act on the second bearish candle might be already too late.

My advice remains the same — don’t go all-in or heavily loaded at critical moments. Caution is not cowardice, but respect for risk.