In the crypto space, especially during this cycle, taking profits and cutting losses is not just a trading discipline, but a survival rule.

During this cycle, unless you bought and held $BTC a year ago, you can maintain your position. The current market fluctuations are too severe; even large-cap cryptocurrencies like $ETH and $SOL experience significant volatility, while small-cap altcoins are fraught with risks.

After the OM flash crash, today $MYX also saw a dramatic drop of 50% (which later rebounded somewhat). This bloody lesson reminds us: greed often leads to huge losses, and holding onto positions blindly may result in going to zero.

The charm of the crypto space lies in the opportunities brought by high volatility, but high returns come with high risks. The chip structure of small-cap cryptocurrencies is complex, and it is difficult to discern whether the operators behind them are good or evil; blindly chasing highs or stubbornly holding can easily make you a target for being harvested by the operators.

The essence of taking profits and cutting losses is to restrain human greed and fear, and to respect market uncertainty. By setting reasonable profit targets and stop-loss points, traders can preserve capital and lock in profits amidst market waves, avoiding emotional trading that leads to total loss.

Successful trading masters do not accurately predict ups and downs every time, but rely on strict discipline to avoid risks. Taking profits allows you to secure gains, while cutting losses helps you exit in a timely manner. Regardless of how the market changes, maintaining the habit of taking profits and cutting losses is the key to standing firm amidst the turbulent crypto waves.

The market is never short of opportunities; what it lacks is discipline and patience. Only by respecting the market and strictly adhering to the rules can one survive in the crypto space.