At two in the morning, my phone vibrated. I opened the chat window in the circle, and fan Xiao Hai sent me a screenshot — 50x leverage trading PEPE perpetual, in just ten minutes, went from a profit of 28% to a loss of 82%.
I didn't spout the usual nonsense of 'don't be sad,' I just replied: 'First, understand the pain, then think about how to turn things around.'
Actually, a few years ago, I was also sitting in this same darkness. At that time, a trading expert handed me an old book with a very straightforward title: (Only those who understand loss can become winners). He told me, 'Don't rush to add to your position; first, fix your mind.'
There's a saying in the book that pierces my heart: what separates the 1% survivors from the 99% retail investors is never the ability to read K-lines, but rather the mental measuring stick of 'how much I dare to lose at most.'
The technology in the crypto circle isn't hard to learn. Drawing an EMA line and a trend line can be done in five minutes; the difficult part is those few hours of holding the position. Can you control your heartbeat and treat the stop-loss as if it's air?
I previously reviewed my 1500 perpetual trades, with a win rate of only 37%, but the profit-loss ratio could reach 4.4. You might not believe it, but the secret is as simple as a line of code: set a stop-loss at 0.8% and let your profits run. It looks tedious, but I relied on this to survive three cycles of bull and bear markets.
The book's author also taught a 'counterintuitive' practice — adding to positions during unrealized gains. But the premise is to raise the stop-loss to the opening price; this is about your belief in the market, not blindly increasing leverage. Newcomers shouldn't recklessly try this; first, set a screenshot of your liquidation as your screensaver, and see if you can last thirty days.
Who hasn't gone through a low point? I had a drawdown for 19 days in a row before, so I simply posted my trading journal on the bathroom mirror. While brushing my teeth, I stared at that string of red numbers, pondering the temperature of my finger on the screen when I closed my positions.
After pondering this ten times, when I opened a position, my hands were as steady as a robot's.
My journal records the most painful trade: last November, I took a long position on APT, fearing my profits would fly away, so I closed it early, resulting in a loss of 6000U. I highlighted that line in orange with a highlighter and looked at it every day. Later, ARB surged, with two pullbacks in between, but I held strong and ultimately made an additional 9000U, finally erasing that orange mark.
There's a particularly 'poisonous' saying in the book: if you're heading in the wrong direction, no amount of hard work will help; you'll just be repeating your self-destruction. Fooling around with 100 trades daily, chasing highs and cutting losses, will at most make your liquidation posture look better. So I set three strict rules for myself:
1. Write your 'will' before opening a position — this means setting a fixed stop-loss.
2. Once you've placed your order, unplug the internet cable — in plain terms, shut down the software; out of sight, out of mind.
3. No matter how much you earn the next day, withdraw half first — securing profits is what matters.
To survive in the crypto world and keep your 'whole corpse,' you must first learn to deal well with failure. Liquidation messages aren't scary; what's truly harmful is feeling embarrassed about liquidation and not daring to face it.
I've handed the torch to you: first, learn to breathe well within your stop-loss, then you’ll earn the right to run forward in profits. If the next big bullish candle comes, will you dare to follow?$BTC #美联储降息预期 #非农就业数据来袭 
