From a blowout to a turnaround, these three trading rules can save your life!
Last year, a fan lost 100,000 U to just 5,000. Seeing his account, I simply said, "You're not trading crypto, you're killing yourself!"
His situation is remarkably similar to countless others who are losing money: chasing rising and falling prices, frequently trading, and incurring fees faster than profits;
Holding on to the end, thinking "I'll get my money back when the bull market returns," only to continue losing money; assuming a FOMO mentality, buying in full when seeing others posting about their gains, only to wake up to find his account empty.
At 3 a.m., he was still watching the market, his ashtrays piled high, and he practically watched the K-line charts for his life. Devastated, he asked me, "Have you been slaughtered like a pig by the market?"
Instead of comforting me, I simply said, "It's not that you don't know how to trade, it's that you don't know how to survive."
So, I had him do three things that changed his entire trading career:
1. Trade like a "sniper":
Only monitor the market above the 4-hour timeframe to avoid short-term fluctuations.
Don't act when you're unsure! I'd rather miss out on 10 trades than make a mistake once.
No more than three trades a day. If I feel itchy, I'll go to the gym instead of trading!
2. Use the "devil's rolling technique" to steadily turn things around: Never take more than 10% on your first trade, for example, 500U.
Only increase your position after you've made a profit. Once you've made 20%, take half of your profit, and hold the remaining half with a trailing stop-loss!
Stop losses immediately after a 5% loss. No fantasies or dreams! Shut down your account after two consecutive losses to avoid an emotional outburst!
3. Record every trade and review it yourself: "Losses should be understood, and gains should be maximized."
Daily review and reflection isn't revenge, it's evolution! After a few months, his account slowly recovered, and he finally found his footing.
He asked me, "Why didn't someone tell me this earlier?"
I laughed: "Because 99% of people would rather go bankrupt than admit they're gamblers."
Brother, the first step to a comeback is to avoid going bankrupt again! You don't lack talent, you lack discipline! Do you dare to open your trading history right now and see exactly how you lost money?
If you don't even have the courage to face losses, you're destined to never make money!
