Forward and save: Let's talk about the most important concept in trading—stop loss.

Many people, when facing losses, can generally cut losses within 20%, which most people are capable of doing. However, once losses reach 50% or more, the first reaction is often to add to the position because the stop loss has already lost half, and subconsciously, it's hard to accept a stop loss. At this point, the idea of adding to the position can override the stop loss mindset.
This is why many people in the crypto space can lose 80% to 95%, approaching zero. It's not that they don't understand the trend; it's that after experiencing significant losses, they start resisting the trend. Losing too much makes it easy to ignore stop losses at the lowest point, leading to a false sense of luck, and ultimately, losses keep increasing.
Some hold on stubbornly after losing, while they rush to sell as soon as they make a little profit, ignoring the trend and trading volume, only focusing on the profit and loss ratio in their account. The result? Losing badly when it goes down, and making pitifully small gains when it goes up.
The correct approach is the opposite: take profits quickly when profitable, and cut losses promptly when losing.
My simple profit and loss principles are: take profit at 15%, and if the retracement reaches 10%, stop profit; if the price continues to rise, hold on and let the profits run. Conversely, if the price drops after buying and the loss exceeds 5%, cut losses decisively.
As long as you can consistently take a 10% profit and limit losses to 5%, even with a 50% win rate over 100 trades, your returns can reach 300%. Is it difficult? The difficulty isn't in the method; it's in whether you can conquer your greed and fear.