Good morning, brothers
I talked with a friend for the whole night yesterday
At first, he was firmly committed to building a big cycle spot position. Then, not long ago, he saw ZEC explode upward like crazy
In the end, he still couldn’t hold back. He thought, how could this kind of garbage keep going up forever?
So he went to the platform to borrow—collateralize—borrow again, repeating the cycle many times. He started shorting
He went short at around 800+ and ended up shorting all the way to 1500
Finally, when only a small leftover amount of the principal remained, he liquidated everything and cut the loss
The savings he’d built over ten years were almost wiped out in this short period of time
Luckily, over these past two days he slowly came around on his own. He figured out a lot of things too, and I hope this also serves as a reminder to everyone
1. Never overestimate your own judgment, and never underestimate the market.
2. Absolutely don’t touch leveraged circular borrowing. Earlier, another person I know stepped into the exact same trap—layer after layer of circular collateralization, getting trapped one loop after another. In the end, he had to gather 500,000 worth of “fruit” to unwind each layer. He still had to go offline and find people to help him get out.
3. If you’re wrong, admit it. Cutting losses in time isn’t surrender—it’s to save your life. If you’re unwilling, always thinking “hold on a bit” waiting for a rebound, or hoping to turn it around with one move, chances are you’ll only sink deeper. Waiting, holding, and hoping for miracles won’t bring one—what you’ll get is usually an even deeper pit. Being able to accept mistakes, accept losses, and know when to stop in time—this in itself is another kind of success.
4. Controlling risk will always matter more than chasing returns. Once you hang around the circle long enough, the easiest thing is to develop a false sense that making money is too easy, so you don’t treasure your money. But the truth is: in this market, one major loss can directly knock a person down. You’re staring at the few percentage points of upside; the market is watching your entire principal.
5. Don’t treat “the guaranteed cycle” as the only chance to flip your life around. He has already shifted most of his effort to earning money off-platform, and I strongly agree. “Bi-quan” is only suitable for investing long-term idle money; it’s not a casino where you go all-in and bet your life. Your ability to earn outside the market, and the real resources you have in hand—those are your true confidence and your way out.
The market will never hold back just because you’re desperate to turn things around.
The more you try to claw it back, the easier it is to sink deeper; the more you rush to win, the easier it is to lose everything.
Keeping your principal, keeping your life, and keeping your own rhythm matters more than anything else.
I talked with a friend for the whole night yesterday
At first, he was firmly committed to building a big cycle spot position. Then, not long ago, he saw ZEC explode upward like crazy
In the end, he still couldn’t hold back. He thought, how could this kind of garbage keep going up forever?
So he went to the platform to borrow—collateralize—borrow again, repeating the cycle many times. He started shorting
He went short at around 800+ and ended up shorting all the way to 1500
Finally, when only a small leftover amount of the principal remained, he liquidated everything and cut the loss
The savings he’d built over ten years were almost wiped out in this short period of time
Luckily, over these past two days he slowly came around on his own. He figured out a lot of things too, and I hope this also serves as a reminder to everyone
1. Never overestimate your own judgment, and never underestimate the market.
2. Absolutely don’t touch leveraged circular borrowing. Earlier, another person I know stepped into the exact same trap—layer after layer of circular collateralization, getting trapped one loop after another. In the end, he had to gather 500,000 worth of “fruit” to unwind each layer. He still had to go offline and find people to help him get out.
3. If you’re wrong, admit it. Cutting losses in time isn’t surrender—it’s to save your life. If you’re unwilling, always thinking “hold on a bit” waiting for a rebound, or hoping to turn it around with one move, chances are you’ll only sink deeper. Waiting, holding, and hoping for miracles won’t bring one—what you’ll get is usually an even deeper pit. Being able to accept mistakes, accept losses, and know when to stop in time—this in itself is another kind of success.
4. Controlling risk will always matter more than chasing returns. Once you hang around the circle long enough, the easiest thing is to develop a false sense that making money is too easy, so you don’t treasure your money. But the truth is: in this market, one major loss can directly knock a person down. You’re staring at the few percentage points of upside; the market is watching your entire principal.
5. Don’t treat “the guaranteed cycle” as the only chance to flip your life around. He has already shifted most of his effort to earning money off-platform, and I strongly agree. “Bi-quan” is only suitable for investing long-term idle money; it’s not a casino where you go all-in and bet your life. Your ability to earn outside the market, and the real resources you have in hand—those are your true confidence and your way out.
The market will never hold back just because you’re desperate to turn things around.
The more you try to claw it back, the easier it is to sink deeper; the more you rush to win, the easier it is to lose everything.
Keeping your principal, keeping your life, and keeping your own rhythm matters more than anything else.