A brother I hadn't contacted in a long time, little Y, sent me a message. Little Y: Brother Nan, I liquidated, 15 million, all gone, the house is gone too. This will be very painful. I'm preparing to exit the circle and go back to work.

At the moment I saw the news, my heart was heavy, recalling the past stories with little Y.

Little Y was one of my early students who entered the circle in the last bull market. Little Y, born in '98, has a rather lively personality. He's from Guangzhou.

The first time I saw little Y was in my classroom. In a crowd of 200-300 people, I noticed little Y at a glance; his golden hair was indeed striking.

After class, he came to the company almost 4-6 days a week and was very obsessed with the crypto industry. We gradually became familiar and later became good brothers.

At that time, I already had my own trading system and interpretations in the crypto industry, looking for market opportunities every day.

At that time, little Y followed us and quickly made gains in the market. By the end of the bull market, little Y's account successfully upgraded to an eight-digit figure.

In the following two years, the market collapsed, and during the interest rate hike cycle, the heat of the secondary market decreased. Opportunities in the market became scarce.

My contact with little Y also decreased.

I remember once, little Y asked me, Brother Nan, why don't you teach me about contracts? I have a brother who trades contracts and makes a super impressive income every day.

I said: You weren't born with a systematic knowledge of finance, you have no systematic concept of risk control. With high leverage, your opponent is no longer the market, but your own heart. Subjective things do not have a trading system. A liquidation is inevitable.

Clearly, little Y did not listen to my words.

Little Y began to engage in contract trading. At the beginning, he was indeed cautious. The leverage multiples and position sizes were very small.

But as I said, in contract trading, your opponent changes; it is no longer the market, but your own heart. Human nature cannot be measured by mathematical models and economic data.

Little Y indeed has a talent for trading, with very precise entry and exit points and a good market sense.

At that time, our communication was still ongoing; every day he would share his earnings in his friend circle. But the biggest challenge in contracts is the heart. Little Y gradually became dissatisfied with his profits, and the leverage multiples and position inputs grew larger and larger.

He got lost, he got lost in the market.

Contract trading allowed little Y to earn 5 million. During this time, our contact became less frequent, and our views on trading diverged.

Profit and loss come from the same source.

With the weakening of inflation, the market began to enter a phase of turning from bear to bull.

I received the news that little Y was exiting the circle.

I looked at little Y's asset report; in three weeks, it went from 15.4 million to zero. Five years of accumulation ended.

Little Y's trading journey also came to an end. I felt very lost inside.

In the cryptocurrency market, I saw too many people get lost in the market because of the era's dividends. Because making money has no end; when you have 1 million, you want 10 million. When you have 10 million, you want to surpass 100 million.

Human beings find it hardest to get through their own hearts. When faced with unrealized losses, they choose to endure, to escape, to avoid finding a solution; they cannot cut losses, and they fantasize about a slight recovery to close the position, but the more they resist, the more they accumulate losses, and the heavier the supplementary positions become.

When selling at a loss, I would always pound my chest in pain, fantasizing about how good it would have been to not sell.

Never thought that selling at a loss is also a gain; if every time I could sell at a loss, it would be a good thing.

Ah, human nature, the most important thing is to reconcile with oneself and enjoy the present life.

Trading is the same; you need to reconcile with trading. If you incur losses, stop loss and acknowledge the loss. If you sell at a loss, you should also find joy in it; making money is a good thing. Stop fantasizing and focus on doing each current trade well.

I am Brother Nan. If you are willing to share, I am willing to listen and record your legendary experiences in the circle.