Since the market stopped falling on August 5, the market has gradually stabilized, and the shift of long and short forces has become clearer and clearer.
Now the prices of almost all coins are at their lowest point, and my account's total profit currently has only a floating loss of 5%, which is almost negligible compared to the current position.
When the market fell continuously in early August, market sentiment was very panic. At that time, I shared my views on the market, reminding everyone that August had just begun, and the decline in early August did not mean that the entire August would fall.
However, those who were scared away in early August, worried and shaken about future trends due to this wave of decline, often made a series of wrong decisions, resulting in losses.
After the decline in early August, my account changed from profit to short-term floating loss, and some people questioned my ability to judge the market, questioned whether I lost money, and why I did not withdraw in time.
During this period, I did not respond because I felt it was unnecessary. The way of thinking of short-term operations and long-term holding is completely different.
Take Buffett as an example:
In 2008, Buffett spent 1.8 billion to buy BYD shares at a price of 8 Hong Kong dollars per share. After that, the stock price rose several times from HK$8, and then it fell back, even falling to HK$5. At that time, those short-term speculators were laughing at Buffett, saying that he was old and could not do it.
However, Buffett has been holding these stocks. Finally, around 2019, BYD's stock rose to HK$200-300, and Buffett's total investment received a return of about 25 times, and then began to sell off stocks.
However, those who laughed at Buffett at the beginning ended up being the same as before, doing short-term trading every day, chasing ups and downs. How eager they are to make dozens of times the profit,
But for these people, earning dozens of times is simply a luxury. For them, being able to make a stable profit of dozens of percentage points every year is already an unattainable goal.
But they keep moving forward on the wrong path, doing short-term trading, chasing ups and downs, and not paying attention to the trends of the bull and bear markets. When they are rising, they are talking about value investment and long-term holding, but once the market falls, they immediately admit their weakness.
If you have always been a loser, you should reflect on yourself more, find the right method through the cases of successful people, and apply it.
