The Mindset is Crumbling#
Recently, I have been silent on Twitter for a long time and have stopped updating my status, and the reason is probably obvious to everyone. After losing $300,000 in the TST incident, only $50,000 remained. Through PVP operations, it rose back to about $140,000, but then I lost $100,000 in alpaca trading, returning to zero again. Two consecutive years of losses (reaching $600,000 in 2024) have trapped my cryptocurrency operations in a vicious cycle: losses lead to a crumbling mindset, low emotions, which in turn cause anxiety and worse decision-making, exacerbating losses. This article aims to reflect deeply rather than complain, to find the root cause and break free from the predicament.
Review of Operations#
Looking back at the loss experience, on the surface, it was market volatility and bad luck, but upon deeper investigation, personal issues dominated. The operations lacked planning, often placing orders based on intuition without setting stop-loss points, like a headless fly. A slight market fluctuation would trigger stop-losses, followed by chasing highs and cutting losses, leading to unclear losses. After losing money, emotions intensified, and in a rush to recover, I blindly followed trends, chased popular projects, and heavily invested in "insider" information. The more anxious I became, the more chaotic it got, and the more chaotic it got, the more I lost, completely governed by emotions.
Repeated losses triggered self-doubt: from an initial quick recovery to later numbness, I began to question whether I was being eliminated by the market, doubting my suitability for investing. In endless self-blame, I chose to give up—watching videos, playing games, going out to have fun, using dopamine to numb myself temporarily, refusing to review losses, allowing losses to expand, resulting in even greater losses.
Always wrong, always losing; one mistake leads to another. To this day, I cannot let go and often think back to the missed big opportunities in the quiet of the night. After years of aimlessness in the cryptocurrency world, I have not achieved significant results. Now I have completely given up and let myself go.
Writing this, I realize I must change. Short-term losses are not scary; what is scary is being stuck in this state continuously. I must pull myself together, redefine myself, and start anew! This article is my new starting point and commitment: no longer to be bound by losses and giving up, but to take responsibility for myself. Investing is a long-distance race; emotions and mindset are the equipment, and I must fix the equipment before I can run far.
If you are also in a similar low point, I hope we can work together to get out of the predicament. If you have successfully made it, please share your experiences and advice; I would greatly appreciate it!
Possible Issues#
- Is the position too heavy? The market is not short of opportunities; there is no need to heavily invest in a single trade, as leverage has little margin for error.
- For alpaca and TST operations, can we change our thinking and consider making money in less crowded places?
Lessons Learned#
- Reduce leverage and the number of trades; take profits when earned. Initially, I deliberately limited the number of trades, but now I no longer need to; trading is like an annual opportunity. Not setting stop-losses for full positions has become the norm, but holding positions feels like dying once.
- Continue to study alpha and find a suitable track for myself.
- Position management is crucial; gradually accumulating profits feels better.
from @crypto_biubiu
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