I copied this passage into my notebook, and I flip through it every so often.
In "The Most Important Thing," there is a principle discussed:
Howard Marks talks about second-level thinking: when others see a rise and chase it, you should see a rise and ask yourself—who is selling? Why are they selling? First-level thinking makes you follow the crowd; second-level thinking keeps you from taking the bag.
Take today's $ARB as an example: right now it's 0.188400, up 38.94% in 24h. This kind of market just proves the point above. It's not some coincidence; it's human nature repeating itself on the tape.
The more I think about it, the more I feel that in trading, what matters in the end is not technique, but mindset.
Make a note of it and look back later.
#ARB #投资哲学 #交易心态 #crypto
In "The Most Important Thing," there is a principle discussed:
Howard Marks talks about second-level thinking: when others see a rise and chase it, you should see a rise and ask yourself—who is selling? Why are they selling? First-level thinking makes you follow the crowd; second-level thinking keeps you from taking the bag.
Take today's $ARB as an example: right now it's 0.188400, up 38.94% in 24h. This kind of market just proves the point above. It's not some coincidence; it's human nature repeating itself on the tape.
The more I think about it, the more I feel that in trading, what matters in the end is not technique, but mindset.
Make a note of it and look back later.
#ARB #投资哲学 #交易心态 #crypto