After years of navigating the crypto world, I have witnessed too many people start out full of enthusiasm, only to be completely defeated in a cycle of爆仓 and chasing gains, buying high and selling low. The most profound conversation I had was with a trader who asked me why, after nearly three years of trading, he was still losing money. I only replied with four words — you don't know how to protect your money.

This phrase sounds simple, but those who truly understand it have often been harshly taught by the market.

Whether the crypto industry can break free from its predicament never depends on how hard you work, but on whether you genuinely want to break the vicious cycle of repeated losses. Many people think that making money once means they have won, but the real challenge has never been in "earning" but always in "protecting." If profits can't be protected, you ultimately hand everything over to the market. A 50% account drawdown requires doubling your capital to recover—this is not mysticism but cold, hard mathematics. Therefore, occasional gains do not indicate maturity; the real dividing line is stabilizing drawdowns and locking in profits.

When the market pulls back, it exposes everyone. Anyone swimming naked can be seen at a glance. Don't blame luck; large drawdowns often indicate issues with your system. Admitting problems is not shameful; knowing there are vulnerabilities and not fixing them—that's true loss.

The hardest part of trading has never been technical indicators but human nature. Greed, fear, impatience, and anxiety about missing out can easily shatter your judgment. I have seen many people who appear to be investing but are actually driven entirely by emotion.

I have summarized three thinking stages that reveal how far a trader can go:

The first stage is coin-based thinking. Constantly searching for 100x coins— the more impatient, the more likely to lose—this is a common rookie mistake. The second stage is pattern thinking. Starting to consciously analyze and no longer blindly chase highs and sell lows. The third stage is account thinking. This is crucial—forget individual gains and losses, focus only on the overall net value curve.

True experts always keep their eyes on the account curve, not on a single candlestick. The reason I can consistently profit from ETH is based on this logic: do not predict the market, just follow the trend; do not chase breakouts, only act on confirmed opportunities; cut losses early when the trend weakens, do not chase when the trend turns strong, and add positions only after confirmation.

You don't need the smartest brain; you only need the most stable execution.

Finally, I want to give you a piece of advice—this is the most valuable sentence in my trading career: before opening a position, think clearly about how not to lose money, then consider how to make money. When signals appear, act naturally; take profits when it's time to leave; don't fight the market. Trading is a contest of who can survive longer, not who runs faster. The ultimate winners in this game are those who can keep playing forever.