I once chatted with someone who has been in the crypto圈 for more than ten years, a veteran player.

After going through several bull and bear cycles, the numbers in his account were far beyond what ordinary people could imagine.

Zege thought he would talk about some advanced trading tactics or divine indicators. In the end, his first sentence left me stunned: most people lose money, not because they can’t read the market, but because they can’t control themselves.

Later, after talking for a few hours, I found that everything he said was the most basic stuff.

He said many people, the moment prices start rising, get anxious, afraid of missing out. By the time they finally jump in, it’s usually when emotions are at their hottest.
When it’s going up, they fear missing the upside; when it drops, they fear going to zero.
So they end up catching the top at high prices, cutting at the bottom at low prices, flipping back and forth until they wipe themselves out.

There’s another type of person who especially loves catching bottoms.
If it drops 20%, they think it’s cheap; if it drops 40%, they think it’s like picking up money; if it drops 60%, they go all-in.
But the most ruthless thing about the market is that just because you think the bottom is in, it can still keep going down.
The real bottom is never formed by everyone rushing to buy. It forms slowly after most people have already stopped wanting to look at the chart.

He said that in all these years, the times when he made the most money were actually when he traded the least.
When the market was unclear, he waited; when there was no trend, he watched.
During sideways action, he preferred to do nothing—didn’t trade just to trade.
Because many losses aren’t from taking the wrong direction; they come from placing too many meaningless trades.

When he looked back later, he realized:
Chasing high once, you lose a bit;
recklessly catching a bottom once, you lose a bit;
holding a losing position once, and lose a bit more;
each time isn’t fatal—but after too many times, the account is gone naturally.

In the past few years, the market itself hasn’t changed much.
What’s changed is only the people participating in the market.

Some people spend every day searching for the holy grail—switching indicators, switching strategies, switching teachers; others keep practicing the same thing all along—controlling emotions and executing discipline.

In the end, those who stay behind are often not the smartest people, but the ones who can restrain themselves the most.

If lately you keep chasing rallies and selling into dumps, getting stopped out right after you buy and then prices rise right after you sell—don’t rush to blame the market first. #BTC #ETH