To friends holding CLO, I have to be honest—don't wait for the market to give you its final lesson. By then, blood will be flowing everywhere, and the probability of being trapped and wiped out could reach ninety-nine percent.

When going long, take a moment to ask yourself: Is the price currently rising? It's a simple question, but most people don't dare to answer seriously. If the answer is no, then don't hesitate—close your position quickly.

I've seen too many people justify their actions with a bunch of reasons—talking about technical bottom zones, claiming they are long-term bullish. It all sounds smooth, but in reality, it's just self-delusion. The market won't change direction because of your reasons. If the price isn't rising, that's a signal. Don't deceive yourself, and don't make excuses to stay in. Admitting defeat in time is the greatest wisdom.