Last year, a friend of mine came to me, and he managed to reduce 100,000 USDT to only 5,000 USDT. It was quite a disaster. I was too familiar with his state at that time; it was exactly like most of the brothers losing money now—frequently trading as if they were on adrenaline, placing dozens of orders a day, and just the transaction fees were enough to buy a jug of liquor. Holding onto the positions stubbornly while mumbling 'the bull will return quickly,' but what returned was not a bull market, but a zeroing package. Seeing others flaunt their hundredfold gains in Dogecoin, he impulsively threw all his assets in, only to wake up and find his account reduced to a mere fraction...

During that time, he stayed up late every night staring at the charts until three in the morning, with an ashtray piled like a small mountain, his eyes blurred from looking at candlestick charts, and finally slumped in his chair asking me: 'Bro, did I just get slaughtered like a pig?'

Later, I advised him to do three things: First, learn to wait patiently like a sniper, instead of randomly shooting like a machine gunner. Get rid of those one-minute candlesticks and focus on larger timeframes of four hours or more. It’s better to miss ten opportunities than to make one wrong trade. Trade a maximum of three times a day; if you feel itchy, go to the gym to lift weights and don’t touch the trading software.

Second, learn the rolling position strategy; open positions not exceeding 10%, and only add more when you’re making profits. Take out half once you’ve made 20%, and set a trailing stop for what’s left to let it fly. Cut immediately if you lose 5%, never average down, and never indulge in fantasies.

Most importantly, treat stop-losses as a lifeline. If you hit stop-losses twice in a row, shut down your computer to prevent revenge trading. You must review your trades every day; if you lose, understand why you lost, and if you gain, maximize your gains.

This guy gradually recovered, and later asked me: 'Why didn’t anyone tell me these things earlier?' I laughed: 'Because most people would rather blow up their accounts than admit they are just gamblers...'

Want to turn things around? First, learn to stay alive! Before you lose all your capital, practice your stop-loss skills. Remember, discipline is more important than skill. Those who blew up their accounts, 99% died from the lucky thought of 'just hold on a little longer and I'll break even.' Now, do you dare to open your trading records and take a good look at how you lost?

If you currently feel helpless, confused in trading, and want to learn more about cryptocurrency related knowledge and first-hand cutting-edge information, click on my avatar to follow me, and you won't get lost in this bull market again!