Figures 1-3 are the same company.

2023-2024 55-227

2024-2025 227-76

2025-2026 76-584

In Figures 4/5, I started buying Alibaba at $145 and got trapped in losing positions all the way down to $88. I kept averaging down until my cost basis reached $121. Unfortunately, I averaged down too aggressively in the boxed area, buying 1,200 shares. When the correction truly bottomed out between $112 and $88, I only bought 300 shares. Otherwise, I might have started making money today.

I want to share a few principles I've realized.

1. You can't have mental rigidity when trading stocks. No company keeps rising or falling forever.

2. You could go bankrupt or get a margin call triggered even with the best US-listed companies (e.g., storage stocks).

And people have made a huge profit from the worst US-listed trash (e.g., MSTR).

3. Retail investors' faith is always changed by a few green candles—they're a very pragmatic group. Institutions are always profit-driven, groups that trick retail into buying the top.

Therefore, the opinions of institutions and other retail investors, whether right or wrong, are driven by interests or limited by their perspective. They cannot be the basis for your own investment decisions, including my opinions.

In one sentence: Only buy companies you understand, only trade market moves you're confident in, only make money during the main upward wave, and rest during the corrective wave.

Oh, Figures 1-3 are AMD.

At the time of Figure 1, it was hailed as the rising star of tomorrow.

At the time of Figure 2, it was called the eternal runner-up, forever crushed under the foot of Jensen Huang—utter trash, the fighter jet among trash.

At the time of Figure 3, it's hailed as the US stock market's most promising trillion-dollar market cap company, the most versatile chip company.