While watching the market, the incident of XMR being collectively delisted by the exchange suddenly flashed through my mind. To be honest, not many people reacted back then; as soon as the news broke, those with holdings were completely stunned.

This reminds me of a line from Taleb's book "The Black Swan"—the truly terrifying thing about a black swan is not how rare it is, but that you never even considered that it could come.

I used to have a shallow understanding of this sentence, but now it is deeply ingrained in my mind. In the crypto world, you can never predict what will happen in the next second. A project might suddenly run away, a chain might have a vulnerability, or a coin you were optimistic about might inexplicably get delisted... Such things are truly not exaggeration.

When I first entered the circle, I suffered losses. At that time, I felt that my luck wouldn't be that bad, a low-probability event? It couldn't possibly hit me. But what happened? I heavily invested in a shitcoin, and one morning I woke up to see it cut in half. Stop-loss? I didn't set one at all. I watched helplessly as all the profits I made were wiped out, and I lost a big chunk of my principal. That feeling, tmd really is...

Now I've become smarter. Every time I open a position, the first thing I do is set the stop-loss level, and I strictly control the position size within a bearable range. Take the recent wave of SOL as an example; although I made some profit, I keep reminding myself: don't get complacent. What the market gives you can be taken back at any time, especially when you are the most relaxed.

So my logic is very simple now: don't just focus on opportunities, but also pay attention to risks. Risk control is not something to think about only after something goes wrong; it should be integrated into every transaction. Being able to anticipate the worst-case scenario in advance and having a contingency plan is what qualifies as passing.

Will there be another event similar to XMR next time? Who knows. But at least, I won't be unprepared like before. Stay vigilant and be ready to deal with surprises at any time - this may be the only way to survive in this market.

⚠️ This is only a personal experience sharing and does not constitute any investment advice.