According to BlockBeats, on August 4, top trader Eugene Ng Ah Sio shared an update on social media regarding his recent trading losses and how he is coping with them. Ng revealed that he experienced two significant setbacks while trading perpetual contracts and also faced substantial losses in spot trading due to recent price movements.

Ng detailed his first trading error, which stemmed from a lack of discipline while executing his ETHBTC trade. He prematurely closed a BTC short position, resulting in a net loss of $1.1 million across both trading pairs. Despite avoiding some pain, he decided to go long after the market crash on Friday. However, the market did not reward this decision, and spot prices continued to decline to 60k. This led to an overall account loss of approximately 3-4%, totaling $750,000, prompting him to close all positions.

Reflecting on these events, Ng acknowledged the increased presence of unknown factors. While he usually finds the risk-reward ratio of buying at support levels better than chasing momentum, he expressed uncertainty about whether the 60k level would hold. Additionally, he noted experiencing emotional imbalance for the first time in a while, leading him to decide to step away from trading for a few days to reset his mindset. Ng concluded by stating that although it is not always easy, he remains determined to recover and move forward.