Yesterday I was chatting with a friend. He is deeply trapped this round, basically all in altcoins. He asked if there is still hope for the altcoin season? Today I will briefly discuss some fundamental investment exit principles.

Everyone understands the current market condition, and most altcoins are still heading towards zero. The market doesn't need this many assets. Even if the altcoin season arrives, it doesn't mean your coin will rise significantly.

My friend made quite a bit of money in the last round with small coins and regrets not selling at last year's peak. Many people are in a similar situation. Even with spot trading, one should think about the exit when buying; this is basic investment knowledge, but many people fall into this trap. They think they have it figured out, planning to sell once they make 10 times their investment, but this is only one of the reference conditions for exiting.

The essence of investing is the game between risk and return, and exit strategies are an important means of risk management. One should consider upon entry:

What is the purpose of this investment? Is it for short-term speculation or long-term holding? What is the target return? Only then can one develop an exit strategy suitable for this investment. As Peter Lynch's classic quote states, "If you don't know why you're buying a stock, you'll never know when to sell."

Thus, exit and entry are intertwined. I see many people holding large amounts of altcoins, even as they approach zero, still waiting for 5x, 10x, or even 100x returns. Human behavior also has inertia; in the past, when market liquidity was good and the number of assets was limited, one might have stumbled upon high-multiplier coins by luck and thought they were good at investing. Therefore, they try to apply the same approach now. But at this stage, the difficulty level has increased, and luck may not be on your side, so it's time to return to basic investment principles. The path to success is simple: good assets, good strategies, and good discipline.

Research the assets, give yourself sufficient reasons to buy, and determine the entry position; set stop-loss, take-profit, or fundamental conditions for exit triggers; rely on time and discipline to survive and strive for gains. Accomplishing any one of these points is not easy. I am also improving, and I encourage everyone to do the same, hoping that you all can achieve results in the market.