The mindset is really crucial.

If you blow up your account this time, don’t just feel miserable. Think carefully about whether it’s the market’s fault or your own. I dare say that in 90% of cases, it’s your inability to control your greed and impulse, which is a common problem among many ‘gamblers’ in the crypto space. It’s important to understand: it’s not the trading that let you down, but rather your gambling mindset that led to this situation.

1. First, ask yourself: are you seriously trading or just gambling?

Serious traders operate with rules and plans and take responsibility for their actions; whereas gamblers rely entirely on mood, hoping for ‘luck’ whether the market goes up or down. To be honest, in my early years in crypto, I was a gambler. No matter how the market was performing, I kept increasing my positions, always thinking of putting all my money in for a big bet. To put it bluntly, it was gambling. Back then, I was thrilled when I made a profit, and when I lost, I blamed everything else, thinking the market was unreasonable. In the end, it proved that it wasn’t the market that was wrong, but I was the one who faced losses.

2. The addiction to gambling is the most harmful thing in trading

When the gambling urge hits, people lose their rationality. If the market is rising sharply, they become insatiably greedy; if it drops badly, they stubbornly refuse to sell, always hoping it can double and double again. But the market won’t accommodate gamblers. In fact, it’s not that we can’t admit we have a gambling addiction; many people just care too much about their image and are unwilling to change. Brother, if you don’t correct this flaw, no matter how much you earn, you’ll eventually lose it all.

3. How can you really become a serious trader?

Learn to control your emotions: you absolutely cannot trade based on your mood. Don’t let greed and fear dictate your actions; set a plan first and then stick to it strictly. Don’t get carried away when the market rises, and don’t panic when it drops; following the plan is the most important thing.

Test your patience with a small amount of capital: never invest all your money at once. True traders break down every amount of money into small chunks to use. Good traders don’t gamble on possibilities but manage risks.

Learn to stop when you need to stop, and cut losses when necessary: the most frightening thing is not being content. Wanting to earn more when you’re profitable and stubbornly holding on when you’re losing, regretting only when your money is gone. These can all be avoided through strict profit-taking and stop-loss rules.