Last night’s long position, I need to sincerely apologize to everyone.

I’ve always wanted to grow our community, relying on steady compound growth rather than jumping into pits together. This wave last night was my impulsiveness, I took the wrong rhythm. I take responsibility for this, no excuses or shifting blame.

Back to the market, $ETH this order was stopped out. Where did I go wrong?

This week’s market has been inherently volatile, with both bulls and bears fighting fiercely. The biggest mistake in short-term trading is obsession—being a stubborn bull or a stubborn bear can easily lead to trouble. As a result, the rapid sell-off this time broke through my defensive line. I accept the consequences, whether it goes up or down. This lesson cost me dearly, but it was worth it.

I’ve mentioned before that a key principle of investing is to admit your own ignorance and clumsiness. Ignorance means we don’t fully understand the world; clumsiness means we can’t predict the future.

So what we need to learn is expectation management.

How do most people manage expectations? They paint themselves a picture: “I feel it’s going up, I’ll sell at XX.” When it drops? They never even considered that possibility.

What does rational expectation management look like? First, I acknowledge I don’t have the ability to predict whether it will go up or down; it might rise, it might fall. Second, I prepare for both directions—what’s my strategy if it goes up, what’s my strategy if it goes down. Planning ahead instead of regretting after the market moves.

Rules are self-imposed, and trading discipline is second nature. But when it comes to watching the market closely and holding onto a bit of hope, actions tend to distort.

In one sentence: don’t predict, just respond. Last night’s response was clearly inadequate. The market slapped me awake, shaking off the arrogance I’ve accumulated from frequent short-term trades.

Today I saw someone sharing their story: they spent 100,000 yuan returning home for the New Year. From a trader’s perspective, it’s quite emotional. If that money had been converted into productive assets or kept as margin for winter, it would be much better.

Others are managing relationships and social connections, while we’re managing our chips. The principal in our hands is the only bullet we have to survive in this brutal market. Protecting it is more important than anything else.

That’s all for now. Gather your thoughts, reflect carefully, and let’s continue to survive in this battlefield.