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Recently, a friend came to me complaining that the altcoin market has been extremely volatile lately, and his account balance is only 2000U. He's not inexperienced, but every trade relies solely on intuition—chasing highs and selling lows, losing three or four thousand a day, and his account is completely battered.
"If this keeps up, I might have to quit the scene," he said with some despair.
I smiled and told him, "This 2000U isn't for a quick double, but to lay the foundation for your future."
Too many people want to reverse their situation with a single breakout, but turning things around is never about gambling. It tests patience, discipline, and steady accumulation.
I outlined a three-step plan for him:
**Step 1: Learn to Hold**
In the past, he would jump in whenever he saw the market, ending up always "buying at the top and selling at the bottom." I advised him: when the market hasn't established a direction, stay in cash—no rushing in when it’s not moving up, no panic selling when it’s not dropping. Give yourself some space to think.
**Step 2: Strictly Control Position Size**
Limit each trade to a maximum of 400U, so even if he keeps losing, he won't be wiped out. He used to lose 2000U in a day; now, he steadily earns 300 to 500U per trade. Every trade has a stop-loss; losing isn't scary—what's scary is holding on until liquidation.
**Step 3: Persist with Review**
He initially had doubts: "Can it really turn around with such slow progress?" I told him, slow and steady is the safest. After each trade, take time to reflect—what did I earn this time? What did I do wrong last time? Over time, his thinking becomes clearer, and his mindset more stable.
After a few months, he went from 2000U to 186,000U. Not by luck or a big win in one shot, but through disciplined, steady, step-by-step accumulation.
You might be in the same situation now—only a few thousand left in your account, feeling a bit down, thinking the market is too ruthless. But turning things around isn’t a one-night event; it’s about moving forward step by step. The market isn’t short of opportunities; what’s missing is the ability to follow rules and manage emotions.
Don’t rush for instant success—stay calm, execute consistently, and focus on your trading strategy. We’re not afraid of slow progress; we’re afraid of giving up.