The deadliest way to lose in the crypto world has never been about not picking the right coin, but rather one word: endure.

When the coin starts to drop, 99% of people’s first reaction is not to cut losses but to self-hypnotize - "Let’s wait and see; it will rebound." As a result, they don’t sell on the first day’s rebound, and when it drops again the next day, they continue to wait, with the reasoning always being: "It hasn’t reached my psychological price yet." The market doesn’t need to kill you instantly; it just needs to grind slowly, dragging your rationality, profits, and principal down with it.

What truly destroys a person is not a single drop, but the repeated refusal to admit mistakes.

You can bear a two-point drop, but when it drops five points, you start to feel conflicted. It’s only when it drops thirty or forty points that you realize: the profit is gone, and the principal is locked in. This is not a problem with the market; it’s that the operational logic was wrong from the very beginning. A mature trader always thinks about one thing before placing an order: What to do if I’m wrong? Once the trend turns bad, they leave immediately, not debating right or wrong, just preserving their life. They allow small losses but will never allow one mistake to wipe out all their efforts.

If you look at those who make money consistently, their stop losses are ruthless.

Because they understand: if you don’t cut losses, no matter how much you earn, it will all be given back in one pullback. The only ones who can truly talk about "buying more as it drops" are those whose logic hasn’t changed, who have sufficient funds, and who are in it for the long haul; while most people just can’t bear to admit they were wrong.

Trading isn’t about who predicts correctly; it’s about who can still stand after making mistakes. The market is always there, and opportunities will not be scarce. What you need to do is to leave yourself a good way out with every trade. Don’t treat luck as a strategy; if you want to last in this market, first learn to admit your mistakes gracefully.

When the rhythm is right, the turnaround will come. Follow Mr. Wang, and don’t keep holding onto positions at the cost of your life.