From 'dreaming of getting rich' to 'just wanting to break even', this is the emotional journey of many people in the crypto world. 💔
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If you, like me, have experienced the ups and downs of the crypto world, this note may provide you some comfort and inspiration.
1. Recognize reality, let go of obsessions
Indeed, some people have made money in the crypto world, but that is just a minority. Most people are the 'chives' being cut. I once fantasized about becoming that lucky one, but reality hit me hard. Now I just want to break even and no longer pursue unrealistic dreams of getting rich. Letting go of obsessions allows for better acceptance of reality.
Cutting losses is more important than making profits
In the crypto world, learning to cut losses is more important than learning to make money. I once held onto a losing cryptocurrency out of stubbornness, resulting in even greater losses. Now I understand that timely loss-cutting is the only way to protect the principal. Set a stop-loss point, and when it’s reached, decisively sell; do not hold onto false hopes.
3. Don’t blindly follow trends, do your research
The information in the crypto world is too chaotic, with various projects and news flying around. I once blindly followed others’ recommendations and bought cryptocurrencies, resulting in huge losses. Now I only trust my own research, even if it takes more time, I must understand the project's background, team, and technology.
4. Adjust your mindset, learn to wait
The fluctuations in the crypto world are too great, with swings of dozens of points in a single day being normal. I once felt anxious due to short-term fluctuations and frequently traded, resulting in even greater losses. Now I have learned to patiently wait and no longer let short-term fluctuations affect my emotions. Breaking even takes time; it cannot be rushed.
5. Diversify investments, reduce risks
Don’t put all your money into one cryptocurrency. Diversifying investments can reduce risks. I once suffered huge losses because I heavily invested in a single cryptocurrency. Now I have learned to diversify my investments; although the returns may not be as high, at least the risks are manageable.
6. Accept reality, learn to let go
Lastly, what I want to say is that there are risks in the crypto world, and investments should be made cautiously. If you have already lost a lot, don’t dwell in regret and self-blame. Accept reality, learn to let go, and replan your finances and life. While breaking even is certainly important, life and mindset are even more important.
Conclusion:
The road in the crypto world is tough, but as long as we adjust our mindset and learn to invest rationally, there is still hope to break even. I hope my experiences can inspire everyone, and I also welcome everyone to share their crypto stories in the comments section. Let’s work hard together and break even soon! 💪
