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Recently, I heard a story from a fellow crypto enthusiast that reminded me of common pitfalls many people face in trading.
He’s not a novice, but his trading is entirely driven by emotions—chasing highs and selling lows, going all-in on a hot streak, resulting in thousands of dollars lost in a day, with his account basically wiped out. When he came to me, he only had $2,000 left, and I could still feel the despair in his words.
He said: "If I can’t turn this around, I’ll quit the scene."
I immediately shattered a fantasy for him: "This $2,000 isn’t for betting on doubling your money; it’s your principal for rebuilding trading discipline."
Many people mistakenly believe that turning the tide in crypto requires a huge, earth-shattering breakout. That’s completely wrong. Real turnaround isn’t about gambling on luck; it’s about the dull, repetitive, patient accumulation.
I shared my proven trading framework with him, which boils down to three core actions:
**First Move: Stay put and wait for a confirmed opportunity**
His old bad habit was itching to trade whenever he watched the charts—slightly volatile, and he’d jump in recklessly, ending up stepping into the traps of chasing highs and selling lows. The solution is simple—if the market isn’t clear, stay completely out. It may seem like wasting time, but it’s actually avoiding ineffective trades.
**Second Move: Strict position control, stop-loss as the bottom line**
A strict rule: no single trade should exceed $400. Don’t chase huge profits; earning small, steady gains is enough. More importantly, always set a stop-loss on every trade—accept losses when they happen, never hold on in hope.
**Third Move: Post-trade review and continuous optimization**
At first, he thought this process was too slow. I told him: "Slow is steady, steady is fast." Making money requires review, and losing money even more so. Every time, ask yourself where your judgment went wrong and how to adjust your thinking.
After two months, he happily reported that his $2,000 had grown to over $90,000.
What’s the secret? Rhythm and discipline—nothing to do with luck.
If you’re also in despair with only a few thousand dollars left in your account, I’ll be straightforward: turning things around is never about overnight riches. It’s about patience and sticking to discipline. The market never lacks opportunities; what’s missing is the ability to control your emotions and follow the rules.
No need to rush—execute your strategy steadily, step by step. Don’t fear slow progress; only fear giving up.