止盈怕卖飞，持有怕套牢，选赛道像开盲盒，每天都在冲还是等，的纠结中反复横跳！先说说止盈这事儿，有朋友发明了回撤闯关式止盈法：收益 达15%不止盈，回撤3%卖1/3，回撤6%再卖1/3，回撤9%全清空。 新手小白其实见好就收，15%收益直接止盈也不亏，毕竟落袋为安才是王道。再聊聊债券基金，这货堪称基金界的老实人，但老实人也分两种：短 债和长债。 长债基金就是有脾气的老实人，预期年化2%~4%比短债高，但得挑时候买！参考十年期国债收益率就行，现在是1.816%，高于1.6%就有配置空间， 再低就不如买短债了。 这操作乍一看像贪心玩家的自保套路，其实还真挺可行，但咱得记住三个坑：第一，回撤看自己赚的钱少了多少最直观，别纠结大盘高点，不然算 得头疼还容易错。 第二，千万别贪心再涨涨，多少人赚15%时飘了，结果市场回调把收益跌光，最后倒亏，主打一个从哪里来回到哪里去；第三，定投的朋友别急着 止盈，至少定投半年再考虑，不然筹码太少，赚的钱不够喝杯奶茶，纯属瞎忙活。 而且长债怕股债跷跷板，要是A股持续大涨，资金全跑股市，债市就得喝西北风；央行还提示了，长债收益率不会一直低，风险得注意。 短债基金就是佛系老实人，波动小到可以 ...

Market Overview - The overall market experienced a decline, with a rating of 4.2 stars [1] - Large-cap stocks saw less decline compared to small and mid-cap stocks [2] - The market continues to exhibit style rotation, with significant drops in growth style stocks [3][4] - The ChiNext and STAR Market fell by 4% recently [5] Style Performance - Growth style stocks faced substantial declines, while value style stocks remained relatively stable [6] - Recently, previously underperforming "old economy stocks" have shown an overall increase [7] - Indices focusing on value, dividends, and free cash flow have seen overall gains [8] - The 300 Value Index has returned from undervaluation to normal levels [9] Investment Opportunities - There are still some undervalued sectors, particularly in consumer industries, that have started to gain traction [11][13] - The Hong Kong market reflects similar trends, with stable dividends and declines in technology growth stocks, which have not yet returned to undervaluation [14][16] - The volatility in the Hong Kong market has been greater than in the A-share market this year [17] Investment Strategies - The investment strategy includes a pause on regular investments in the index-enhanced advisory portfolio as it has returned to normal valuation, with plans to resume when it returns to undervaluation [20] - The active selection portfolio continues regular investments, while the monthly salary investment portfolio, which consists of 40% stocks and 60% bonds, is recommended for stable market participation [20] - The monthly salary portfolio features a "low buy high sell" strategy and a cash flow distribution function [20] Fund Performance - The performance of the China A500 and China Dividend indices has returned to normal valuation, with plans to pause investments until they reach undervaluation again [26] - The China A500 has achieved a profit of 22%, while the China Dividend index has seen a profit of approximately 6% [26] - The article emphasizes the importance of patience in long-term investments, highlighting that opportunities will continue to arise [33]

Core Viewpoint - The article emphasizes the importance of understanding investment strategies and managing psychological pressures in the context of market volatility, encouraging long-term investment rather than trying to time the market perfectly [1][4]. Group 1: Investment Strategies - The discussion highlights that many investors struggle with the concept of buying low and selling high, suggesting that long-term investment is preferred over constant trading [4]. - It is noted that achieving target returns is more important than trying to perfectly time market entry and exit points, as very few investors can accurately predict market tops and bottoms [4]. - The article introduces a feature in the 天天基金 APP that allows users to set profit-taking targets, which can help preserve gains during market fluctuations [5]. Group 2: Dollar-Cost Averaging (DCA) - The article presents findings from a quantitative analysis of index funds over 15 years, revealing that DCA does not necessarily yield higher returns compared to a lump-sum investment, and may even result in lower returns in some cases [7]. - It identifies that DCA can alleviate psychological pressure associated with large investments, even if the returns are not significantly higher [7]. - The article outlines that DCA is particularly effective in volatile or declining markets, where accumulating shares at lower prices can lead to better outcomes during market recoveries [8]. Group 3: Profit-Taking and Market Conditions - The article discusses the importance of setting profit-taking targets based on market conditions, suggesting that different strategies may apply to broad market indices versus high-growth sectors [11]. - It is recommended that investors consider lower profit-taking targets for broad market indices, while higher targets may be appropriate for high-growth sectors that experience significant price increases based on future expectations [11]. - The article concludes with insights on maintaining a balanced approach to investing, emphasizing that investment is just one aspect of life and encouraging practices that reduce anxiety [12][13].

Price Targets - The document suggests two potential take-profit price points for a cryptocurrency or token [1] - First take-profit target is around 2.088 (currency unspecified) for "MC chasing peak PUMP" [1] - Second take-profit target is around 2.66 (currency unspecified) if the Fully Diluted Valuation (FDV) reaches 1/4 of Binance Coin (BNB)'s value [1] Market Analysis - The document implies a speculative trading strategy based on market momentum ("PUMP") [1] - The document uses Binance Coin (BNB) as a benchmark for valuation [1]

Trading Strategy - Suggests taking profit on Bybit positions as the price is unlikely to return to previous levels [1] - Indicates the analysis is based on pre-market contract data [1] Market Analysis - Refers to pure data analysis of pre-market contracts [1]

Group 1 - The article emphasizes that trading strategies and tactics are interconnected, and there is no isolated buy or sell action, only an acceptable plan [1] - A reasonable risk-reward ratio should be at least 2:1, meaning a 7% stop-loss should correspond to a 14% profit expectation [1] - For breakout buying, if there is no floating profit within five trading days, it may indicate a wrong choice, and a stop-loss should be considered at a 3-5% loss [1] Group 2 - After achieving a floating profit of over 8%, three tactical options are available: using a 7-8% retracement as a stop-loss threshold, calculating a moving stop-loss based on the breakout candle, or employing the TR holding line as a stop-loss threshold [3] - A stable strong trend stock typically will not easily breach the TR holding line, and when it does, selling can be done in batches or all at once [5] - For most stocks outside of leading stocks, selling a portion of the position after achieving a 20% floating profit is often a good choice, as excessive greed can lead to profit loss [6] Group 3 - The volume-weighted moving average is superior in support and sensitivity compared to EMA and SMA, and practical comparisons are encouraged [8] - Momentum divergence remains an essential technique in selling strategies, with VAD and BIAS indicators being particularly useful for identifying buy and sell timing [10]

Group 1 - The article discusses strategies for managing investment portfolios, particularly focusing on automatic profit-taking mechanisms in advisory portfolios [2][3]. - It highlights two scenarios for profit-taking: when certain assets are overvalued while others are undervalued, and when the overall market is deemed overvalued [2][3]. - The article mentions a feature of the advisory portfolio that allows for automatic rebalancing, which helps investors to take profits from overvalued assets and reinvest in undervalued ones without manual intervention [2][3]. Group 2 - The process of profit-taking involves gradually converting investments from a stock and fund combination to a more stable bond fund combination as market valuations increase [3][4]. - The article indicates that the conversion will be executed in phases, with a larger proportion being converted as market valuations rise, ultimately transitioning to a conservative investment strategy when the market is fully overvalued [4]. - It provides a call to action for readers to engage with a course assistant for detailed guidance on setting up automatic profit-taking strategies [4][5].

Market Overview - The Shanghai Composite Index has recently broken a nearly decade-long high, but experienced a significant pullback today, dropping by 1.76%, while the ChiNext Index fell by 0.69%. Despite this, the trading volume in both markets remained high at 3.17 trillion yuan [1] - The market seems to have entered a "buy on dips" mode, where slight adjustments quickly attract capital inflows, although today saw a notable late-session sell-off that disrupted this trend [1] Market Dynamics - The market has shown two significant changes: a faster pace of increase, shifting from gradual to rapid gains, and a rotation of popular sectors from high-tech fields like AI and robotics to undervalued sectors such as consumer goods, livestock, liquor, and chemicals, which aligns with characteristics of a bull market [3] - This bull market differs from previous ones, as it lacks signs of retail investor frenzy, such as massive fund sales or a surge in new retail accounts. Instead, the driving force appears to be institutional capital and high-net-worth individuals participating through private equity funds [3] Investor Sentiment - Investor sentiment remains cautious, with no signs of excessive enthusiasm. While some new investors are entering the market, there is no large-scale inquiry about investment directions. Long-term fund investors are considering redemption or profit-taking, indicating that as the market improves, redemption pressure on public funds increases [4] - The rapid growth of China's ETF market, expanding from 4 trillion to 5 trillion yuan in just four months, reflects active participation from institutional investors [4] Investment Strategies - In light of the market adjustment, investors are advised to consider their selling strategies carefully. The bull market has not yet peaked, and significant adjustments are normal. Investors should act decisively to avoid missing opportunities [4] - Suggested profit-taking strategies include setting clear profit targets (e.g., selling after an 8% or 10% gain), prioritizing the sale of underperforming funds, and making decisions based on market conditions, despite the difficulty in predicting market tops [4][5] - For hesitant investors, partial profit-taking and optimizing portfolio structure by reducing the number of funds held are recommended, with an emphasis on maintaining appropriate position management over merely pursuing profit-taking [5]

Report Core View - The success in the futures market lies in long - term survival rather than short - term huge profits. Traders should be aware of the risk of profit retracement and adopt a modest and retreat strategy when making profits [2][3] - To prevent profit retracement, one should use stop - loss as a shield, position as a formation, discipline as an order, and self - reflection as a teacher [3] Report Industry Investment Rating - Not mentioned Summary According to Related Catalog - The futures market is volatile, and investors often pursue high - leverage and heavy - position trading at the beginning, ignoring the risk of profit retracement and the need for stop - profit rules, which can lead to losses [2] - History shows that wise people like Zhang Liang and Tang He knew when to retreat. In the futures market, traders should learn from them and think about the risk of retracement during profitable periods [3]

Group 1 - The market experienced a loss today, with on-market ETF accounts losing 11,000 and off-market fund accounts losing 7,000, totaling a loss of 18,000 [1] - Compared to a profit of 130,000 yesterday, this pullback is considered minor [2] - Retail investors have not entered the market on a large scale, as there has been no significant growth in the shares of both active funds and A-share ETFs this year [2][4] Group 2 - The recent growth in ETF scale is primarily due to net value growth rather than retail subscriptions, indicating that retail investors may be entering through insurance wealth management instead [4] - As of the end of 2024, the scale of China's insurance asset management industry reached 33.26 trillion, leading the asset management sector [4] - In the first half of 2025, there is a structural adjustment in insurance asset management, with a contraction in debt investment scale and significant growth in asset securitization (ABS) and equity investments, increasing by 46.15% and 188% year-on-year, respectively [4] Group 3 - The current market conditions suggest that there is no need to wait for a large-scale entry of retail investors before reducing positions [5] - There is a conflict regarding whether to reduce or increase positions, with memories of the 2014-2015 bull market causing hesitation to take profits too early, while the 2022-2023 bear market raises concerns about losing unrealized gains [6][7] Group 4 - Recent trading strategies include reducing positions in Hong Kong innovative drugs while increasing positions in the chemical index, resulting in a nearly 10% profit from the chemical sector within a month [9] - The current valuation levels of major indices are high, with the CSI 300 at 14.11, the CSI 500 at 33.09, and the CSI 1000 at 46.39, all reflecting high historical percentiles [11][13][15] Group 5 - The A-share market has shown significant gains this week, with valuation levels rising sharply, particularly in the Sci-Tech 50 and CSI 2000, both reaching 100% historical valuation percentiles [25] - The difference in valuation perception between the ChiNext Index and the ChiNext Composite Index is clarified, as the former includes only leading stocks while the latter encompasses all listed companies, leading to a higher average valuation [26] Group 6 - The current temperature of the A-share market is 67.61, surpassing the previous high of 63 in 2021 and the peak of 93 in 2015, while the Hong Kong market temperature stands at 48.37 [40]