Timely profit-taking and securing gains is the most effective strategy to cope with drawdowns, but this is just the first step. More importantly, once you exit the market, do not rush to reinvest due to impulse. I have seen too many people who made a fortune during a bull market ultimately lose everything they gained due to a moment of impulse.

The reason many people find it hard to recover is that they have experienced large trades and lost interest in small investments. They may have been accustomed to trading millions of dollars in the past, and now when asked to trade tens of thousands, they naturally lack enthusiasm, thinking about when they can earn it back. During such times, they are prone to take on high-risk strategies, increasing leverage, and the results are often bleak; very few are lucky enough to come out unscathed.

Saying this now, some may not take it seriously, but in a bear market, these lessons will become profound and real.