A bull market is never the same as making money by simply closing your eyes. During an uptrend, there will be sharp pullbacks; fake hot trends keep emerging one after another. After a surge, a crash almost immediately following is a common pattern in the market. Some people see a glimpse of dawn and go all in, leverage up, and gamble—thinking they’ve caught the tailwind—only to end up getting liquidated and forced out.

A truly mature mindset isn’t about betting on when a bull market will arrive, but about being prepared for the possibility that it might not come—and if it does come, that it might also leave. Don’t chase prices, don’t go all in, control your position size, and protect your principal.

We can’t predict whether a bull market will come. But whether it comes or not, being able to stay at the table for the long term is the prerequisite for everything. The celebration will eventually end, the tide will recede—and being able to withdraw unscathed is what makes you the winner.