In the eyes of many people, anti-documentary is actually too simple, and everyone's concept is still in a relatively vague state. Anti-documentary is not only about finding data hedging, but also has a gradual logic. The reverse is based on the data source. There are two data sources on the market at present. One is to find the real transaction data (touching the red line, violating the rules, and the data has various problems), and the other is the method adopted by our public-setting up a data team. Here I want to make a simple comparison between the two data sources.

The biggest advantage of the real data source is that it has enough humanity, and most curves have been descending from the upper left corner to the lower right corner. It is estimated that this is also the main reason why many hedge teams use real data. However, in my opinion, the real data has very big defects. First, there is uncertainty. It is possible to stop trading after two or three days of profit, or it is possible to stop trading after two or three days of loss. And the uncertainty of frequency. Sometimes a variety may be traded once a day. Apart from the transaction cost, we can't afford the slip loss alone. In fact, observing the transaction data of many retail investors, it is not difficult to find that their biggest source of losses from beginning to end is losses. The real intraday net loss is actually not much or the limited extreme market is erupting. Generally speaking, their trading characteristics fully meet our hedging standards. It's all a small profit to run away. When they lose money, they will increase their positions and then die.

As for the data team we formed, the biggest shortcoming is authenticity. Among all those who want to oppose documentary, there are all kinds of doubts about this method. They are worried that traders will not lose money or even make profits, and their minds are constantly entangled in various assumptions, how to make them lose money, so as to convince themselves to invest in the opposite direction. Of course, there are also some extreme friends, perhaps desperate for forward trading, who can't wait to start reversing. These are all caused by the lack of authenticity of the self-built data team. In fact, I think the biggest advantage of data team is certainty, certainty of personnel and integrity of data cycle. As for the psychological distance between traders and retail investors, our management needs to solve it.

Anyone who wants to profit from the market through trading, no matter what kind of trading strategy, whether positive or negative, has no small difficulty. In my opinion, it is more difficult to be positive, because we are fans of the authorities, putting ourselves in constant self-doubt and constantly fighting against the market and human nature. On the contrary, we stimulate the seller's humanity through a series of management means, and from the perspective of the third party, we conform to the market rules as a bystander and realize the interests.