$1800 rolled to $14,400, completely wiped out on the 29th day.
This is not running out of luck, but a compulsory lesson for retail investors in the cryptocurrency market:
Real profits have never been about numbers jumping, but about controlling the desire for quick money.
After his third liquidation, he came to me, with only $1800 left in his account, filled with despair of "if I lose again, I will quit the market."
"If you want to turn things around, you need to abandon 'take profit when you see it' and 'hold on until the end.'"
I pointed out the key, "Take advantage of the trend, cut losses quickly against the trend, that’s the bottom line." He nodded while holding his phone, with only a last shred of trust left.
I had him split the $1800 into 10 portions, and not to exceed 10% in any single trade, taking half the profits to a separate account once he made over 20%.
"So slow?" he questioned. "The crypto market doesn’t lack opportunities for doubling, it lacks the patience to avoid liquidation; first survive, then talk about making money." I sent him past trading records.
In the first 22 days, his execution was at its peak:
He analyzed the market before opening, strictly adhered to stop-loss and take-profit, held on to trends amid fluctuations, and immediately exited against the trend upon hitting stop-loss. His account steadily climbed: $2300, $3700, $6900… On the 22nd day, $1800 multiplied by 8 to reach $14,400.
The change began on the 23rd day. He no longer followed the trading plan, secretly increased his positions, reasoning that "the market can go higher." I repeatedly reminded him not to lose discipline; he verbally agreed but on the 25th day, surprisingly went all in on altcoins behind my back.
When the drawdown hit 38%, he sought my help to average down. "Immediately cut losses, this is my last warning!" I was firm. He hesitated for a while and ultimately didn't act: "Let’s wait a bit longer; it will definitely bounce back." This is the most fatal obsession of retail investors—mistaking stubbornness against the trend for perseverance and treating luck as hope.
On the 29th day, the market continued to plunge, and the account was directly wiped out.
From $14,400 back to zero in just 4 days. I didn’t block him; I only sent one sentence: The hardest part in the crypto market is not doubling your money, but remembering why you were able to win in the first place after you’ve doubled.
The doubling from $1800 relied on discipline, while the wipeout stemmed from greed and luck.
If you are also struggling in trading, remember: having the courage to ride the trend is the foundation for making big money, while cutting losses quickly against the trend is the bottom line to avoid liquidation.
Discipline is the biggest capital; lose it, and no matter how high your profits are, they will be just illusions. @juice13