Based on the philosophical saying in the crypto world, 'Seeing others lose money is happier than making money yourself,' Brother Du has good news for everyone: just yesterday, I lost 6341.68 USDT playing contracts.
Why do I so accurately and completely tell everyone the amount of my loss? Because psychological research shows that long numbers attract more attention than words; 100,000 is more eye-catching than ten thousand. Moreover, I've even included the decimal point; it looks damn real.
The reason humans are advanced animals is that they are good at summarizing failures and constantly evolving.
First of all, Brother Du knows better than 99% of people in the crypto world that playing contracts is foolish and a form of gambling. I've been in the crypto world for about eight or nine years and have made some profit overall; I once lost over 500,000 in a single day, which was nothing to me. Today, I will summarize this contract loss; everyone can take it as a joke.
I know that contracts cannot make me rich, nor do I want to get rich from them; it's simply that I'm 'itching to play.' Yes, every trader thinks they make money because of their superior skills, and Brother Du is no exception. Through years of research, multiple gains and losses, I've developed my own way of playing contracts, and it has been proven to have a very high probability of making money. (Not to mention getting rich, stabilizing profits is not a problem.)
In the crypto world, relying on contracts to get rich is for a minority; what you need to do is stabilize your income, rather than approach trading with the mindset of getting rich quickly. Approaching contracts with the mentality of getting rich will lead to losses; this is absolutely the truth.
Some may argue that I don't know how to cut losses; damn, I know how to do it better than many. While you were still engaging with MMM in 2016, I was already in the crypto world. Do you think I don't understand taking profits and cutting losses?
So why can't everyone change direction or cut losses in a timely manner when the trend is wrong? This leads us to human nature: gambling!
Men love to gamble, women love pyramid schemes. When two men hold different opinions on a matter and argue endlessly, they will most likely place bets. In the end, the stakes on the table become less important; what matters is to prove that I am right, that I win, and you are the loser.
Next, Brother Du will simulate the psychological activities of a contract player; see if you are like this too?
When I realize I've misjudged the direction and start losing money, I think to myself, what does this little fluctuation matter? I bet that the trend will change direction soon, and it will be the kind that 'skyrockets and plummets.' Not only will I recover my losses, but I will also profit.
When continuing to lose, I will assess the overall trend of the crypto market. Fortunately, the overall trend hasn't been broken; it should reverse soon. Even if it can't reverse, there should at least be a rebound, right? Once I break even on the rebound, I will close the position. I understand that the primary factor in investing is to protect the principal; there will be plenty of time in the future. I will fight again after recovering my capital and remind myself to think carefully before opening new positions; it's better to miss out than to be wrong. People should be more cautious.
As I continue to lose, I become a bit unsure—should I change direction? No, if I change direction now and it goes the opposite way, I will face a double whammy! I would just be a fool. They can cheat my money, but they can never say I'm a fool. Deep down, I know I'm foolish during late-night reflections, but I just can't let others say it; it's a matter of dignity. It's like I know I'm poor, but you can't call me a poor loser. I know I'm ugly, but you can't say it out loud.
As I continue to lose, I will open crypto news to see if there’s any news and deeply understand the global situation and international news to see if there are any explosive news items. What news are those two bastards, Trump and Musk, up to lately? What are the big institutions doing?
As I continue to lose, I think, should I close my position now to cut my losses? But it’s already a fact that I’ve lost; I’m still unwilling to accept it. I think to myself, what’s there to be anxious about? This little fluctuation doesn’t matter; playing in the crypto world is all about mentality. If I only focus on immediate gains and losses, how can I achieve great things later?
As I continue to lose, my hand holding the cigarette trembles slightly, scrolling through my phone again and again, looking at support and resistance, examining the past trends in similar formations. I deceive myself into thinking it will bounce back soon; I don't expect to break even, just hoping to minimize the loss and close the position. I start to suffer from insomnia, opening the trading platform every few minutes.
When continuing to lose, damn it! Take a deep puff of smoke, increase the position and go for it. The glory of the former stock god echoes in my mind; how can I just give up? I want to get back what I've lost.
As I continue to lose, it has come to this; closing the remaining position won’t help. What to do? Hold on! Hope is right in front of me. I start to feel lethargic, unable to muster any energy for anything.
As I continue to lose, I accept it; I start calculating this loss, comforting myself that it’s all money I made before. I even post screenshots of my orders in the group, accompanied by facepalm emojis, bragging and sharing inappropriate jokes with group friends. If I see a group friend losing even more than I am, I feel a little better inside, complimenting them on their skills and insincerely comforting them.
……
The trend of the coin always goes against your direction until it breaks through your psychological defenses, and then you leave in despair, cursing that blockchain is a scam, and you will never play contracts again.
After finishing this article, Brother Du looks at the Rolex he just bought.
What was once dazzling now seems to have lost its color.
No longer pleasing to the eye.
