Yili Hua perfectly portrays a very typical yet deadly trading psychology: first buying the dip and then getting washed out → feeling humiliation/missed opportunity → next time buying the dip turns into holding on for dear life.

The most dangerous point is: fear of missing out (FOMO) can turn buying the dip into a bottomless pit.

The bottom is not a point, but a process; the more you insist on "having a position near the lowest point," the easier it is to rationalize and keep adding during the decline, ultimately turning from buying the dip into catching falling knives— and falling knives often have no "last knife."

I also admit: his judgments on the bull and bear trends are often correct. But the most ironic thing in trading is: having the right view ≠ making money. Expressing a correct view with "holding on for dear life + large position + no invalidation point" essentially exchanges a probability advantage for a one-time gamble. The market is best at making you "theoretically correct," but your account goes to zero.

Buying the dip is not the original sin; unregulated buying the dip is. To truly survive bottom trading, at least three things are necessary:

1) Invalidation point: where I first back off if it breaks, not competing with the market;

2) Position rules: the first trade is always small (10–20%), add after structural confirmation;

3) Time stop loss: withdraw if it doesn't go as expected, don't waste your life on trends.

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