Mindset is really important
If you blew up your account this round, don’t panic, don’t immerse yourself in the pain. Think about whether it’s a market problem or your own problem. I dare say, 90% of the time it’s because you can’t control your own desires and impulses. This is a common issue among most "gamblers" in the crypto world. You need to correctly understand: it’s not trading that ruined you, it’s your gambler's mindset that led you to take this trading path.
1. First ask yourself: Are you really a trader, or just a gambler?
A trader is disciplined, has a plan, and is responsible for their actions; a gambler is emotional, betting everything on “luck” based on price fluctuations. Honestly, in the first few years when I entered the crypto world, I was a gambler. I increased my positions without looking at the market, went all-in on heavy positions, and 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, it was me who deserved to blow up.
2. Gambling addiction is the biggest poison in all trading
When you're addicted to gambling, you completely lose your rationality. You are incredibly greedy during bull markets and stubbornly hold on during bear markets, always thinking about doubling your money again. But the market never spoils gamblers. In fact, it’s not that we can’t admit we have a gambling addiction, but most people are too proud to change. Brother, if you don’t change this habit, no matter how much you earn, you will eventually lose it all.
3. How to correctly become a real trader?
• Learn to control your emotions: Trading should never be driven by emotions; don’t be led by greed and fear, make a plan, and then stick to it strictly.
Don’t get overly excited when it goes up, and don’t be confused when it goes down; sticking to your plan is key.
• Test your patience with small positions: Never go all in at the drop of a hat. Those who truly understand trading will break every trade down into smaller parts. A good trader doesn’t gamble on probabilities, they manage risks.
• Learn to take profits and cut losses: The most terrifying aspect of human nature is never being satisfied. When making money, you want to earn more; when losing, you refuse to cut your losses, and only realize regret when blowing up. All of this can be avoided through strict profit-taking and loss-cutting rules.
• Regularly review your trades: Smirking when you profit and cursing the market when you lose is a gambler's mentality. A real trader will review their trades after each operation, identify where they went wrong, and improve for next time.
4. The fate of gamblers is only one: to return to zero
