Should quitting be an option as a crypto trader with years of experience who just encountered a massive loss because of a few shady characters? Anyone who has been trading long enough would agree that it changes your relationship with money. Trading helps you learn a lot about yourself, your emotions, and your patterns. If you have experienced trading loss in whatever form, do not be discouraged. Rather use it as a motivation to strengthen your resilience by adapting to a new approach. You already know how it is with the crypto markets, one has to be persistent and allow our hard-earned experience guide us toward future success. I just thought to write this little piece for anyone out there who is going through a difficult time in crypto trading.
I love your encouragement and I've shared it many times and still sharing the same with challenged traders, but the truth is that if we share it from now till eternity, most traders, or should I call them most attempted traders will fail. It is good to motivate but to actually preserve the motivation into actualization is the issue. Trading is very risky and the market is cunning, so it is not something that fits the same approach all the time. This is why I advise people that they should be dynamic just the way the market is dynamic. Thinking you can use the same approach for the same result all the time may not always work.
I've been trading for 20 years (that's if the demo trading years are added), but I tell you, my brother, there are still scary moments in my trading till today. Although, overall, I am positive and I can vouch for a very high winning percentage, nevertheless, it is not on a platter of gold, how many people can withstand that?
I must also commend the psychological part you tried to motivate them upon, because the issue with it is the reason why many traders are losing. Most traders are busy focusing and trying to better their trading strategies but the issues may not lie there. The issue could be psychological, managerial or lack of proper coordination ( plan). If one or some of these are the case, no amount of strategy building will help such a trader. Above all, trading is so challenging, it requires huge preparedness, wisdom and smartness to overcome.