I once had a chat with an old player who has been in the crypto circle for over ten years.

After several bull and bear cycles, his account balance is no longer something an ordinary person can imagine.
Brother Mao thought he would talk about some advanced trading strategies or divine indicators, but the first thing he said stunned me: most people lose money not because they can't understand the market, but because they can't control themselves.
We talked for a few hours and found that everything he said was the most basic stuff.
He said many people get anxious as soon as they see prices rising, afraid of missing out. When they finally jump in, it's often already the hottest emotional moment.
They fear missing the rally when prices go up, and fear going to zero when prices fall.
As a result, they buy at high prices and sell at lows, playing themselves out over and over again.
There’s also a type of person who loves to bottom fish.
They think 20% drop is cheap, 40% drop is like picking up money, and 60% drop means going all-in.
But the cruelest part of the market is that just when you think it’s bottomed out, it can still go lower.
The real bottom is never formed when everyone rushes to buy; it’s slowly created when most people no longer want to watch the charts.
He said that the times he made the most money over the years were actually when he traded the least.
When the market is unclear, he waits; when the trend hasn't emerged, he observes.
During sideways movement, he prefers to be in a daze rather than trade just for the sake of trading.
Because many losses are not due to wrong directions but because of making too many meaningless trades.
Looking back later, you’ll realize:
Chasing highs once, losing a bit;
Copying the bottom once, losing a bit;
Holding a position once, losing a bit more;
Each time it’s not fatal, but after many times, the account is gone.
The market hasn’t really changed much over the years.
Only the people participating in the market have changed.
Some are constantly searching for the holy grail, changing indicators, strategies, and teachers; others keep practicing the same thing—controlling emotions and executing discipline.
In the end, it’s often not the smartest people who stay, but those who can restrain themselves best.
If you’ve been chasing rallies and selling dips recently—buying just before it drops, selling just before it rises—
Don’t rush to blame the market. #The Federal Reserve has kept interest rates unchanged four times.