1. Bloody Valentine's Day: A missed entire bull market

On the night of February 14, 2024, when BTC broke through $52,000, I opened a long position with all 62 Ethereum in my account. The leverage ratio was a number that later startled me awake every night: 50 times.

"Breaking through the previous high will inevitably accelerate the rise", this understanding engraved in the DNA of retail investors was completely shattered at 23:17 by a half-hour bearish candle. When the forced liquidation price popup appeared, the reflection on my phone screen showed my pale face—380,000 principal accumulated over three years turned into a string of expired data in the exchange server on Valentine's night.

Two, classic loss behavior illustrated

Dogecoin curse

'Big shots in the adjacent group sharing trades' + 'white paper making big promises' = zeroing package. I once used 2 ETH to exchange for 50 million Animal Coins, and now the displayed amount of these tokens in my wallet is: $0.00

Leverage death spiral

'Floating profit increasing position' is as addictive as drugs, but the market will always teach you the Kelly formula through liquidation. The most painful record was shorting LUNA, earning 3 times without closing the position, and instead being squeezed to pay margin 14 times.

Faith recharge trap

Treating the project's roadmap as the Bible and the CEO's Twitter as prophecy. On the day a certain public chain went live and plummeted 60%, I was still in the group posting 'value investing requires perseverance' inspirational quotes.

Three, the self-cultivation of retail investors

Now I print out my trading records and cover the walls with them, with the most eye-catching being this set of data:

Chasing highs and selling lows loss: accounts for 47% of total losses

Contract handling fees: total payment of 2.3 BTC

Dogecoin zeroing: 22 projects cleared 8 ETH

Maximum single-day loss: 2023.9.13 single-day drawdown 63%

Four, survivor's guide

Position management awakening

Now strictly adhering to a 5% single currency position limit, I find that over 90% of the massive losses come from violating this rule.

Leverage detox diary

Hide the contract app on the third page of the phone folder, set a 24-hour cooling-off period before trading. In the past three months, contract losses have decreased by 80% month-on-month.

Anti-FOMO training

Cancel all 'signal groups' pinned messages, and forcibly lock the screen for ten minutes when the price fluctuates over 10%. I unexpectedly found that I avoided three waterfall markets.

Five, late-night review

Looking at the countless marks on the K-line chart labeled 'buy at the peak' and 'cut at the bottom', I finally admit that the biggest enemy of my losses is not the market, but myself, who always thinks of 'getting rich overnight.' Now my account is slowly crawling back to six figures, but what I have truly regained is respect for the market—those losses incurred by luck are slowly being recovered through understanding.

(This article is adapted from real experiences, and every number behind it is tears dropped on the phone screen in the middle of the night. Follow Crypto Lao Dong, let’s be survivors in the coin circle rather than martyrs) ##币安HODLer空投XPL