After the 19.1 billion liquidation wave, Lao Chen showed me his trading records: 5 stop losses in 3 months

Total loss of less than 1500U, but made back 250,000U during the rebound.

He said the core is the second 'anti-human' operation: the stop loss line is more important than 'waiting for the rebound to break even'.

Behind these words is his painful lesson. Last time during a liquidation, Bitcoin dropped by 3 points,

Lao Chen stared at the K-line thinking 'just wait a bit longer, it will definitely rebound', but it dropped another 3 points, and 180,000 U was wiped out.

Later he realized: in the crypto world, 'waiting for a rebound' is the most harmful obsession.

—In the 19.1 billion liquidation, how many people held onto the mindset of 'just endure a bit longer', ultimately dragging a 'small loss' into a 'liquidation'.

Now Lao Chen must set a 1.5% stop loss line whenever he trades, no matter how optimistic he is about the market, he exits automatically when the point is hit.

For example, last week Bitcoin dropped by 3%, he opened a 2x long position with 10,000 U, and lost 300U at the stop loss line, then left, unlike before when he would stubbornly hold on.

As a result, Bitcoin dropped another 5% that day, and those around him who didn't set stop losses lost quite a bit. Someone asked him: 'What if it rebounds right after the stop loss, won't that be a loss?'

Lao Chen smiled: 'When running a building materials store and encountering quality issues, you must return the goods if necessary, you can't just wait to lose more. Trading cryptocurrencies is the same, stop loss is about 'losing less', not 'losing'.

—In the 19.1 billion liquidation, those without stop losses don't even have the chance to 'wait for a rebound.' Indeed, the 'anti-human' nature of the crypto world lies in: when others are 'waiting for a rebound', you dare to decisively cut losses;

When others fear 'losing small amounts', you understand 'preserving capital'. Lao Chen's stop loss principle is not about 'giving up', but about maintaining the confidence to turn things around during liquidation waves. @Yaya丫