Years of experience say:

To not lose money, you must first lower your desires.

Why do I say that?

First: Most people enter this circle wanting to get rich quickly, so we need to understand the principles that can make us wealthy. Is it the profits that appear out of nowhere in our accounts? To make money in the financial market, someone else must lose money, right? Therefore, we need to tighten our desires and make sure we survive.

Second: After surviving, manage risk well. Many newcomers enter the market with the initial thought of how much money they want to earn. This is a fantasy; without a respectful attitude towards the market, it's common for many newcomers to enter at good opportunities, see floating profits, but fail to cash out, and then when the price drops, they fantasize about returning to the initial high, until they start incurring losses. Or they might cash out their profits, and then the price goes up or higher, leading to regret, slapping their thighs, and finally chasing back in. This is very common in secondary trading markets. Newcomers must first consider risks: How much risk can I accept for this trade or investment? Have a rough expectation and don’t let the market's craziness affect your emotions when you reach your expectations.

Third: Many who enter the crypto space may also be entering various projects, not just trading. The principles of doing projects and trading are interconnected. If you believe your project is good and worthy of value investment, investing time, effort, and even money, it can still fail. The reason is often amplified desire. It's frequently heard that projects won't fail and will be with you until old age. Projects can make money, but they can also lose money. I personally believe that when your information or circle isn’t at that level, you shouldn’t think about such things. For example, my personal experience: in 2021, horse racing was very popular, and I thought chain oil could create good profits, so I invested 30 and bought a combination horse, starting to earn money. During this process, I learned from a friend in a studio about the inside information, that the quickest way to recoup costs was to pair horses to produce new ones. This led to not losing money; if you only consider the money earned from horse racing, it would be a significant loss. In the end, I sold both the initially paired horses and the new ones during the price drop, exiting with a small profit.

Was this investment a failure? I don't think so. There are countless losses in horse racing. The speed of losing money in projects isn’t necessarily slower than in the trading market, right? Why is timely withdrawal important? It’s because of controlling desire. Many people enter thinking they want to make a lot of money from this, while I was just focused on the stability of a few chain oils. Essentially, I wouldn’t be like many friends who lose money while still fantasizing that horse prices will rise when they drop. Some might say that’s because you made a small profit, and if you had a loss, you wouldn’t have run away so quickly!

If a friend says this, I would suggest adjusting your mindset. I’m not lying; I entered in 2017 and became an old player as well. The timing may not have been the best, and I certainly didn’t earn the most, nor did I lose absurd amounts. My years of personal experience tell me that risk must come first. When I invested 30, I was prepared to lose 10. If I hadn’t known my friend in the studio and had been serious about horse racing, when the price dropped to a loss of 10, I would have cut my losses and exited.

What if, when I leave, the price rebounds? It’s no big deal. It’s like opening a store; if your capital can only sustain you for a year, and after a year you have to close, then you realize that the foot traffic in that area starts to boom. What can you do? Regret why you didn’t wait six more months? Regret not noticing the insider information that this place would see an increase in foot traffic? You can only wear shoes that fit your feet. When your risk exceeds your capacity to bear it, you must stand firm when facing challenges.

Whether in the trading market or project circles, even with familiar enterprises in the market, as long as you enter the capital market, they are brutal. Their stocks must have trapped some people, and their original investors must have cashed out or even exited. Understanding the principles behind this is all you need to do.

In conclusion, the key is to stabilize your emotions and survive. Surviving opens up infinite possibilities. No one knows when you might seize an opportunity that belongs to you and take off, but the prerequisite is that you survive and wait for that opportunity. The myths of the capital circle are all constructed; you must survive and not get thrown off the ride before considering making money.
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