Livermore’s Quotes: Never flatten losing positions. Profits will take care of themselves; losses will never settle on their own.
Celo, Mina, and AVAX were once all leading narrative L1/L0 chain projects that were in the spotlight. Celo moved to capture the mobile-friendly inclusive payments track; Mina had the scarce 22KB constant-block ZK technology; and AVAX rose to fame with its Avalanche subnetwork architecture. Each had its own outstanding story and first-mover advantages, attracting large numbers of investors to enter at high prices. But they all belong to the VC-funded public-chain category—foundation and early-institution tokens keep getting unlocked, and prolonged selling pressure is hard to shake off.
After many investors get trapped, they end up taking the old route of averaging down losses—continually adding to reduce their cost basis—passively becoming like the “construction uncle” of the market: stuck with positions and calling their dead-bear holding “long-term value.” Livermore repeatedly warns: don’t keep adding to losing positions; losses won’t automatically repair themselves. Even if the sector has room for imagination, institutional chips continue to flow out steadily, while incremental capital is insufficient—so the market is prone to long-term choppy, drifting downward price action.
No matter how good the technical narrative is, you can’t ignore the token-structure of supply and unlock schedules. Holding patiently doesn’t mean stubbornly riding out losses forever. Distinguish the underlying conditions of each target, and strictly adhere to trading discipline—that’s the key to avoiding being deeply trapped.
Celo, Mina, and AVAX were once all leading narrative L1/L0 chain projects that were in the spotlight. Celo moved to capture the mobile-friendly inclusive payments track; Mina had the scarce 22KB constant-block ZK technology; and AVAX rose to fame with its Avalanche subnetwork architecture. Each had its own outstanding story and first-mover advantages, attracting large numbers of investors to enter at high prices. But they all belong to the VC-funded public-chain category—foundation and early-institution tokens keep getting unlocked, and prolonged selling pressure is hard to shake off.
After many investors get trapped, they end up taking the old route of averaging down losses—continually adding to reduce their cost basis—passively becoming like the “construction uncle” of the market: stuck with positions and calling their dead-bear holding “long-term value.” Livermore repeatedly warns: don’t keep adding to losing positions; losses won’t automatically repair themselves. Even if the sector has room for imagination, institutional chips continue to flow out steadily, while incremental capital is insufficient—so the market is prone to long-term choppy, drifting downward price action.
No matter how good the technical narrative is, you can’t ignore the token-structure of supply and unlock schedules. Holding patiently doesn’t mean stubbornly riding out losses forever. Distinguish the underlying conditions of each target, and strictly adhere to trading discipline—that’s the key to avoiding being deeply trapped.