I found that 99% of retail investors have a fatal bad habit. They can't hold on when the price rises, but they refuse to cut losses when it falls. When the price goes up, they always think, 'I'll wait a little longer, afraid it might pull back,' resulting in often missing the best profit-taking opportunities; when it goes down, they always think, 'I'll wait until I break even before closing the position,' and end up getting stuck, continuing to wait until liquidation. After liquidation, they relax instead, entering an endless panic, questioning themselves and even the market, from 'If I had known, I should have...' to 'Blockchain is a scam.'
Therefore, before placing an order, it is essential to clarify the trading range and plan, ensuring that losses are within a bearable range. Don't feel distressed when losing, and take profits in batches or adjust stop-loss levels when prices rise, especially during market fluctuations, as this can effectively reduce risk. Blindly placing orders and stubbornly holding positions will only deplete you faster in the market. Observing more, learning more, and executing more is the key to surviving longer in this market.