---
title: "I entered the industry in my early twenties, just started getting into Hong Kong stocks, relying entirely on being young, aggressive, and passionate, often trading based on hearsay."
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42641568.md"
description: "Back then, all I could see were stocks that were skyrocketing. I naively believed in the so-called insider tips and short-term meme stocks shared in group chats, going all-in with my entire position every time. I didn't understand position management or stop-losses, always thinking I could catch every market wave. I got caught in both the major crashes of 2015 and 2018. At the peak, I kept averaging down, digging myself deeper and refusing to admit defeat and cut my losses, just waiting for a rebound to break even. Over a decade's worth of my hard-earned savings were completely trapped. I even followed the trend and used leverage. A sharp drop triggered a margin call, not only wiping out all my savings but also leaving me with a huge debt. During those days, I didn't dare tell my family. I suffered from insomnia every night, and my heart would race just looking at the market screen..."
datetime: "2026-07-14T03:58:10.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42641568.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42641568.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42641568.md)
author: "[舊事溫茶](https://longbridge.com/en/profiles/2074098993994711040.md)"
---

# I entered the industry in my early twenties, just started getting into Hong Kong stocks, relying entirely on being young, aggressive, and passionate, often trading based on hearsay.

Back then, all I could see were the skyrocketing stocks, naively believing in the so-called insider tips and short-term meme stocks in chat groups. Every time, I would go all in, with no understanding of position management or stop-loss, always thinking I could catch every market wave.  
I was caught in both the 2015 and 2018 market crashes. At the peak, I kept averaging down, digging myself deeper, stubbornly refusing to admit defeat and cut losses, just waiting for a rebound to break even.  
My over-a-decade's worth of hard-earned savings were all deeply trapped. I even followed the trend and leveraged up. A sharp drop triggered a margin call, wiping out all my savings and leaving me with a huge debt.  
During those days, I didn't dare tell my family, suffered from insomnia every night, and felt panicked just looking at the screen. Greedy when it rose, panicked when it fell, completely controlled by my emotions.  
I used to think I knew the market well, but in reality, I was just a gambler drifting with the tide, turning investment into speculation. Arrogance and greed were my biggest downfalls.  
In the end, I painfully liquidated my positions and left the market, staying away from stock trading for a full three years, even swearing I'd never touch the stock market again.  
However, during those three years away from the market, I didn't become depressed or give up. I calmed down, meticulously reviewed every single losing trade slip of mine, and thoroughly identified the root causes of my losses:  
I had no trading system of my own, relying solely on tips and gut feelings for buying and selling;  
I completely lacked position control, always being fully invested, with zero risk buffer;  
I had no discipline for taking profits or cutting losses, selling for small gains and stubbornly holding onto losing positions;  
I blindly chased short-term explosive gains, ignoring fundamentals, just speculating on concepts and bubbles.  
During those years, I went to work diligently every day to repay my debt. At night, I studied financial reports, researched macro cycles, and the logic of capital flows, completely abandoning the idea of getting rich overnight.  
I no longer trust anyone's stock recommendations, and I've established my own stock selection criteria: focusing on cash flow, industry cycles, and valuation safety margins.  
I've developed the habit of keeping a trading journal, clearly documenting the logic, predictions, and margin for error for every single trade, immediately reviewing and correcting any mistakes.  
Only then did I slowly gain clarity: the market never lacks opportunities; what's most lacking is the discipline to preserve capital. Being able to survive is far more important than short-term windfalls.  
My mindset has completely changed. I no longer think about a one-trick comeback. I accept that investing is a slow craft and have let go of the obsession with quickly recovering my losses.