1. One year before the cake production was halved, new concepts emerged, the market left the market bottom and began to enter the run-up stage;2. ??After the output is halved, market transactions become active and gradually move towards a crazy stage, generally reaching the cycle peak one year to one and a half years after the halving;3. The last wave of the crazy stage must be crazy;4. The end of the madness is the abuse of new concepts. When you can feel that it is "abuse", you can leave. Then, take a year off and the market will give you opportunities;5. To make money in the market, you must not only have risk awareness, but also need to have a profit-taking awareness;6. There is no bubble that cannot burst;7. Don’t think that you can always exit at the highest point, knowing the highest point only afterwards, but by learning the cycle theory, you can sense the high point;8. Many people who regard ?? as their belief are hypocritical. They only have one belief, which is to make money. The so-called faith is a money-making tool and a sharp tool for cutting leeks;9. There are real believers in the market. Whether it is true or not depends on what they are doing.