$ZBT The greater the loss, the harder it is to turn things around; don't let your account reach zero again.
Many people only think about doubling their money or getting rich overnight, but they ignore the harshest truth of the market: the deeper the loss, the harder it is to recover.
Warren Buffett once said: "Rule number one, don't lose money; rule number two, never forget rule number one."
$ICNT This statement is particularly true in the cryptocurrency world.
Those who can truly survive are not the blind speculators chasing after the highs, but the steady investors who always focus on "not letting their accounts reach zero."
$SQD Why? Because math is merciless:
A 10% loss requires an 11% gain to break even;
A 30% loss requires a 43% gain;
A 50% loss requires doubling;
A 70% loss requires a 233% increase to break even.
The market's volatility and math are cruel; the greater your loss, the harder it is to turn things around.
Small losses can be made up for, but large losses are basically hopeless.
If you've lost half, you need to double your money; if you've lost 70%, it's almost impossible to recover.
Therefore, cutting losses is not just a technique; it's a bottom line, a discipline.
There are many ways to cut losses, but the simplest way is to admit mistakes promptly and not stubbornly hold on.
If you don't cut losses, the market will use harsher means to "cut losses for you."
Learn to cut losses, and you won't hold on stubbornly; maintain your account, and opportunities will always exist.
Survive steadily in the market, go further, and earn more steadily.
Still, the saying goes: a solitary sail cannot travel far; a single tree cannot form a forest. If you want to reach the shore, and turn your account around, I am always here!
