Having been in the crypto world for six years, I’ve seen a harsh truth clearly—there are no legends here, only ordinary people who survive.

Over the years, countless individuals have entered with dreams of financial freedom, only to leave silently in the end. The market itself is fair, but people have voluntarily taken the road to losing money. Nine out of ten people suffer losses, and the reason is simple: they keep stumbling in the same pit over and over again.

**1. Trading Addiction is a Trap of Self-Delusion**

Many people treat trading as a job. Not trading makes them feel uncomfortable; not buying or selling all day makes them feel lazy; going a week without action makes them vaguely think they’ve missed out on billions. I’ve experienced it too—such anxiety and impulsiveness are like boiling a frog in warm water.

Fees, slippage—these seemingly tiny costs can, without you noticing, eat away at your principal bit by bit. What does the data say? The annualized return for low-frequency traders can reach 18.5%, while high-frequency traders only get 11.4%. The gap is so big it’s speechless— the more frequently you trade, the less you actually earn.

Now I understand that good trading opportunities are like buses; missing one isn’t a big deal, there’s always another. But frequent trading is like rushing between bus stops, eventually exhausting yourself to the point of immobility, watching opportunity after opportunity pass by.

**2. Leverage: The Shortcut to Bankruptcy**

Leverage, in essence, is a double-edged sword given by exchanges. It looks like a great tool to amplify gains, but in reality, it’s a poison that accelerates your zeroing out.

I’ve seen people double their capital in a day with 20x leverage, shining briefly. The same group of people disappears completely after a week. The most malicious part of leverage is—it lets you taste victory occasionally, but it’s doomed to make you lose everything. The outcome of full-position betting is only one.