There is an interesting phenomenon in trading—what the main players are truly afraid of is not the smart people or the tech experts, but those who can't be pushed out.

Think about the tactics of the main players. Creating volatility, instant price spikes, stirring public panic, and finally using these fancy maneuvers to clear out leverage. But what if you don't use leverage at all? Their most powerful weapon becomes useless.

And that's not all. Not watching the charts, not being led around by news, refusing to sell during bearish signals, not chasing during bullish signals, just listening to KOLs' calls as background music—people like this, the main players can't do anything about. Because they thrive on emotions; if you don't give them that, they have no weapon.

The key is the cognitive cycle. Main players have quarterly KPIs, annual goals, and are constantly driven by performance. But if you can view things from a two- or three-year perspective, time becomes your ally. The main players will actually become anxious.

The real logic of making money is quite simple: position yourself during extreme pessimism, reduce your holdings during extreme euphoria, and any fluctuations in between are just watching the show. The main players are clearing out those who are manipulated by emotions, and your outsider status is actually an advantage.

Looking back, the people who thrive the most in the late stage of a bull market are often not the ones who earn the fastest, but those who are never pushed out from start to finish. That’s the difference.