Core Insights - The article highlights the success of Li Guofeng, who achieved the 10th place in the 19th National Futures (Options) Trading Competition, using a strategy focused on "bearish oil and bullish silver" options, establishing himself as a benchmark for small capital traders [1] Group 1: Trading Strategy - Li Guofeng's trading philosophy is centered around the idea that "offense is the best defense," which reflects the survival rules for options buyers [1] - His key trades during the competition were based on commodities, specifically bearish oil options and bullish silver options, utilizing a method that combines fundamentals and market sentiment [2] - The success of his trades was attributed to tracking OPEC+ production cuts and analyzing market sentiment through position data and the Volatility Index (VIX) [2] Group 2: Monthly Trading Approach - Li Guofeng employs a "monthly offensive strategy," allocating a fixed amount of funds for options trading each month, with a single entry per commodity, only increasing positions when the trend remains intact [3] - This strategy is informed by a deep understanding of the characteristics of options buyers, who face high risks and potential losses if they engage in frequent trading [3] - He focuses on liquid commodities such as oil, precious metals, and non-ferrous metals, which are significantly influenced by macroeconomic factors and have transparent supply chain information [3] Group 3: Risk Management and Mindset - Li Guofeng emphasizes the importance of systematic trading frameworks, having transitioned from a previous focus on index futures, where he suffered losses due to chasing trends [4] - His current strategy involves monthly fund allocation and trend tracking, with a focus on isolating profits and managing risks through profit withdrawals and dividing capital into ten parts to mitigate the impact of consecutive losses [4] - He advocates for traders to maintain a "trading diary" to document decision-making processes and outcomes, as learning from failures is crucial for avoiding repeated mistakes [4]