Recently, the trader and top-ranking female player Huangguamiao has become extremely popular. First, congratulations on achieving an impressive trading result of $45 million—truly remarkable and worth studying and learning from.

Brother Wei and Huangguamiao interacted and discussed intraday high-frequency and cyclical low-frequency trading, each sharing different trading styles that have both delivered excellent results—a treasure trove of valuable insights.
Seeing this topic sparked some reflections, which I’d like to briefly share:
To get to the point: There is no absolute right or wrong between low-frequency and high-frequency trading. The fact that significant results can be achieved with both styles demonstrates a deep level of familiarity and understanding within each approach—a crystallization of long-term experience that has formed a trading system with positive expected value.

The article mentions, “day trading is structurally a SCAM.”
At first glance, this summary seems to dismiss intraday high-frequency trading as garbage. In reality, it’s a warning from a high-level player at the “top” to most ordinary traders: achieving similar results with intraday high-frequency trading requires a much higher bar than cyclical low-frequency trading. For most ordinary traders just starting out, it’s very difficult to succeed on this path—unless they have exceptional talent or experience gained from other trading markets.
When I first started doing rebates, I interacted with countless fans coming and going and witnessed many accounts experiencing huge gains and devastating losses, which deepened my understanding of the differences between intraday high-frequency and cyclical low-frequency trading. My impression is that high rebates and fan profitability are negatively correlated. If