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For people investing in crypto assets, nine out of ten have fantasized about overnight riches. But frankly, very few actually manage to lock in their profits. Most people's problem isn't choosing the wrong coin; it's their trembling hands when it's time to take action.
In 2017, I experienced a rollercoaster market. At that time, ADA wasn't yet a mainstream asset. I bought in at several batches around $0.03, thinking this was the bottom. In less than three months, ADA surged to $1.2, and my paper gains nearly 40 times. Can you imagine? Every day I woke up and looked at my phone, the account numbers kept changing. All I could think about was buying a house and financial freedom — I was floating on air.
But the market doesn't indulge you. Before I could actually cash out, ADA started to plunge. In just a few weeks, it dropped from $1.2 to $0.2. Those seemingly foolproof plans suddenly became just a pipe dream.
It was only later that I realized the biggest enemy in the crypto market is never the market itself, but our own greed. The crazier the rise, the more ruthless the fall. The bigger the gains, the lower our risk tolerance. Those who survive are the ones who stay rational amid the madness, hitting the brakes before temptation takes over. This is a trading principle learned through paying tuition with real money.
Honestly, the word "trembling" hits too close to home, I would be trembling too.
Greed is indeed a major enemy, but the market's pace changes so quickly, who can really hit the brakes correctly?
Paying tuition fees repeatedly makes you realize that taking profits is more challenging than doubling your investment.
That's why most people who trade cryptocurrencies go from being poor to poor again; they get carried away after making a few times profit.
Knowing these principles alone is useless; execution is the key.
I also got burned by ADA once; back then I was greedy, but now I see it was so naive.
Not taking action when you should, and then ending up losing the most—this cycle is too devilish.
So now I always set a take-profit line, although I still sometimes violate my own plan.
Really, greed is more deadly than a drop in price.
A 40x return wasn't enough to cover my losses, now I’ve lost my principal too. Wake up, everyone.
It's not about choosing the right coin, it's about human nature. I keep fooling myself like this every time.
I'm a bit scared now. If only I had been able to sell calmly back then. Now I regret everything.
Dreaming when it rises, crying when it falls—that's who we are.
So, how are you handling it now? Can you really hit the brakes? Anyway, I don't believe it.
I was also in that wave of ADA, just didn't have the courage to sell, and now I'm still crying.
Really, human nature is so greedy. When it rises to 1 dollar, I want to wait for 2 dollars. When it drops back to 0.2, tears start to fall.
My current trading rule is just two words: taking profits in time, which is better than anything else.
That's right, truly happy people are indeed few. Most are taught by the market.
It's really just greed and fear pulling against each other, and you'll never catch up with this wave.
Now, I just maintain a capital preservation mindset, no longer believing in stories of turning a loss into a gain.
The term "shaking hands" is so true. It really happens every time.
A 40x profit is right in front of me, and I still lose money. Unbelievable, this is just me.
Greed really can kill you. Even when there’s profit, you want to take a little more, but then you get hammered. Now my rule is very simple: sell half after tripling, so at least I can cover some of my costs.