Ethereum has really performed well during this time, having risen nearly 100% from the bottom. It has lived up to my expectations!
However, I've noticed that many friends have been suffering privately recently, especially those who used to shout about losing confidence in the market every day. I estimate that the profits they made in the past few months have all been given back, as expected.
In fact, regarding contracts, if you have no foundation, it's better to avoid them. The temporary thrill doesn't really bring you anything. Sometimes when you look back, you realize that human greed and fear are innate. There are times when you must remain rational; the market won't change direction just because you look at it a few more times. You are like the weather; if you see dark clouds, just take an umbrella and don't try to predict whether it will rain. Sometimes if you think back, trading is the same; you must be prepared for responses. You must always understand the 80/20 rule: the market is destined for a few people to make money while the majority lose.
There's an old saying on Wall Street: when you haven't made a decision, the market will always find a way to make you feel your decision is right. Once you make a decision, the market will find a way to prove you wrong. So, there's no need to constantly stare at the candlestick charts, dreaming of reaching the peak overnight. Don't study one technique after another; the essence of trading is risk control. Techniques are not the core of making money. All decisions should be based on minimizing risk. Personally, I don't rely on making a profit on every trade, but rather follow the trend and aim to minimize losses while maximizing profits. When the trend hasn't changed, it's fine to hold patiently. If the trend reverses, you should decisively exit. During a downturn, I must ensure I have enough 'bullets' to enter the market steadily. In a rising market, we should take profits gradually through our strategies.
The first step in trading is always to determine the direction of the market, not to act recklessly. Don't care about short-term gains and losses; don't just focus on the numbers in your account. Don't rush to exit when in profit and stubbornly hold on when in loss, as this is typical emotional trading.
All the way, I told myself not to challenge human nature, to go with the flow. I won't be soft-hearted when it comes to my own interests; I won't take even a fraction that doesn't belong to me. I will restrain my greed and fear. When it's time to enter the market, I'll enter; when it's time to observe, I'll observe. Only then can I endure for the long term.
I hope all friends can face challenges bravely in the coming days!