$Tiger Brokers(TIGR)$ The trade that taught me the most in 2025 was not the one with the highest return, but the one where conviction was tested by volatility. The key lesson was that being early feels the same as being wrong. Strong themes such as AI infrastructure and gold only paid off when position sizing and time horizon matched the thesis. Trades driven by narrative but lacking patience were the ones most likely to fail.

My review of 2025 performance centres on process rather than outcome. The year reinforced three principles:

Macro shocks matter less than liquidity and earnings delivery.

Concentration works only when downside risk is clearly defined.

Missing a move is cheaper than forcing a bad entry.

Overall, 2025 was a year of sharpening discipline. Returns followed where risk was respected, and mistakes were most costly when emotions overruled structure. The biggest gain was not capital, but clarity in decision-making going into 2026.