Mindset is really important. If you lost everything this round, don't panic; don't dwell in the pain. Think about whether it's the market's problem or your own. I dare bet that ninety percent of it is due to your inability to control your desires and impulses, which is a common issue among most 'gamblers' in the crypto world. You need to recognize correctly: it's not the trading that destroyed you, but your gambler's mentality that led you onto this trading path.
1. Ask yourself: Are you really a trader or just a gambler?
A trader is disciplined, has a plan, and takes responsibility for their actions; a gambler is emotional, betting everything on 'luck.' Honestly, during my first few years in the crypto world, I was just a gambler. I would increase my position without looking at the market and go all-in on heavy bets, to put it bluntly, it was all gambling. I felt great when I was making money, but when I lost, I blamed the heavens and the earth, thinking the market was unreasonable. The fact is, it wasn't the market that was wrong; I deserved to lose.
2. Gambling addiction is the biggest poison in all trading.
When you're addicted to gambling, you completely lose your rationality. When the market is soaring, you're extremely greedy; when it crashes, you stubbornly hold on, always thinking about doubling your money again. But the market never indulges gamblers. In fact, it's not that we can't admit we have a gambling addiction; it's that most people are too proud to change. Brother, if you don't change this habit, no matter how much you earn, you'll eventually lose it all.
3. How to correctly become a real trader?
Learn to control your emotions.
Test your patience with small positions.
Learn to take profits and cut losses.
Review your trades regularly.
4. The only outcome for a gambler is: going to zero.
