On greed

Human nature is greedy. This is a recent chat record between my friend and I. Through this chat record, we can see that he vividly demonstrated the greedy nature of leeks. On the 1st, I published an article on Binance Square, saying that market FOMO was serious and there were risks. Because the copycats could not keep up with the increase in Bitcoin in the early stage, there was a need to make up for the increase. Then the copycats rose sharply in the past few days. The shib purchased by a friend was six times higher than the cost. Yesterday, I persuaded him to sell part of or clear out all his positions. During this period, I mentioned to him countless times that risks should be dealt with based on emotion and understanding, but he didn't listen to a word of it.

In 2021, I added leverage to speculate in BCH, from 100,000 to 2.6 million. At that time, the price of BCH had reached 1,600 dollars. At that time, I thought to myself, if it doubled to 5 million, I would close my position. Everyone knows the subsequent story. In just two weeks, the price of bch dropped from 1,600 knives to 500 knives. I was completely devastated. In fact, I know in my heart that even if it reaches 5 million, I will still want to ask for 10 million. The market never changes based on individual will.

I really like a story told by my uncle in the TV series "Flowers of Flowers". It takes an hour to run up the Empire State Building in New York, USA, but only takes 8.8 seconds to jump from the top. It rises step by step, but falls very quickly.

Many retail investors don't know that the main force sells when it goes up and buys when it goes down. When the market falls, they ship, and the market simply doesn't have the ability to bear it. But retail investors are doing the opposite, becoming more greedy as prices rise and more fearful as prices fall.

I tell these stories in the hope that everyone will take a warning. No matter whether your position is liquidated or you suffer losses in this wave of market conditions, you must learn from experience and lessons. Duan Yongping once said that the sooner a mistake is corrected, the smaller the loss. Nowadays, many excellent traders have made losses step by step in this way. Although the main force can control the price most of the time, we retail investors also have flexibility that the main force does not have. The main force needs a lot of time to accumulate funds to build a position, and a lot of time to distribute goods. If you study the K-line carefully, you can always find clues.

The play must be sung scene by scene, and the meal must be eaten bite by bite.

Hope everyone’s transaction goes smoothly #BTC #SHIB #bch $BTC $SHIB $BCH