If you've faced liquidation this time, don't rush; don't dwell in pain. Think about whether the issue lies with the market or with yourself. I dare say that 90% of the time it is due to your inability to control your desires and impulses, which is a common problem among most 'gamblers' in the crypto space. You need to recognize correctly: it's not trading that ruined you, but your gambler's mindset that led you down this path.
1. First, ask yourself: Are you really a trader or just a gambler?
A trader is disciplined, has a plan, and is responsible for their actions; a gambler is emotional and bets everything on 'luck.' To be honest, when I first entered the crypto space, I was a gambler. I increased my positions without looking at the market and went all in on heavy bets; to put it bluntly, it was all gambling. I enjoyed the profits at the time but complained about the market when I lost, thinking it was unreasonable. The truth proved that it wasn’t the market that was wrong; I deserved to be liquidated.
2. Gambling addiction is the greatest poison of all trading
When under the influence of gambling addiction, you completely lose your rationality. You are greedy when the market surges and stubborn when it crashes, always thinking about doubling your money. But the market never accommodates gamblers. In fact, it's not that we cannot admit we have a gambling addiction, but most people are unwilling to change for the sake of their pride. Brother, if you don’t change this habit, no matter how much you earn, you will eventually lose it all.
3. How to correctly become a real trader?
• Learn to control emotions: Trading should never be driven by emotions. Don't let greed and fear lead you by the nose. Make a plan and stick to it strictly. Don't get overly excited when the market rises, and don't get confused when it falls. Following the plan is the core.
• Test patience with small positions: Never go all in at the slightest chance. A true trader will break down each trade into smaller pieces. A good trader does not bet on probabilities but manages risks.
• Learn to take profits and cut losses: One of the most terrifying aspects of human nature is being insatiable. When making money, you want to make more, and when losing, you refuse to cut losses until you face liquidation. These can all be avoided through strict rules for taking profits and cutting losses.
• Review regularly: Smirking when you make money and blaming the market when you lose is a gambler's mindset. A real trader will review after each operation, identify where they went wrong, and improve next time.
4. The only outcome for a gambler is to return to zero
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