Everyone who has been in the crypto world will encounter a common phenomenon: many retail investors lose money, not because they chose the wrong coins. The real killer move is just two words—死扛 (deadly stubbornness).

Most people's tragedy begins here: the market peaks, the trend has already turned bad, but they refuse to exit. When they see the price dropping, they don't cut losses immediately; instead, they encourage themselves with "Wait, if it rebounds, I'll sell."

And then? They miss the first rebound, and when the second wave drops, they still hold on stubbornly. The reason is always the same—"It's just a little short of my psychological price."

Thus, the market wears them down little by little: when it drops 2%, they think it's normal fluctuation; at 5%, they start to feel conflicted; only when it really falls 30% or even 40%, do they wake up—and realize that profits are gone, and their principal is locked in.

The core problem isn't the market; it's that the initial trading logic was reversed from the start.

How do truly consistently profitable traders think? Their mindset is completely opposite. Before pressing the buy or sell button, they first ask themselves one thing: What if I’m wrong? Once they detect a breakdown or structural deterioration, they immediately admit their mistake and exit. They don't talk about emotions, faith, or long-term optimism. They only care about one thing—the account can survive to see tomorrow.

Look at those who are long-term stable winners, and almost all of them share one trait: extremely decisive stop-losses. Small losses are acceptable; mistakes in the market are inevitable. But they absolutely won't let one mistake wipe out all their previous efforts.

Of course, the "buy the dip" logic isn't entirely wrong. But it only applies to true value investing—when the logic remains sound, funds are sufficient, and the cycle is long enough. Most people's stubbornness? Simply put, they just don't want to admit they were wrong.

The essence of trading isn't about who sees the market more accurately, but about who can retreat first after making a mistake. The market is always there; opportunities will never disappear. What's important is that before entering each trade, you leave yourself an exit route.

Don't wait until you're deeply trapped to dream of a rebound—that's not strategy, that's luck. To succeed in this market long-term, first learn to admit mistakes with dignity.