Whale Jason Leo says past losses made him exit too early after a $100 million gain in the last cycle

BlockBeats reported on August 22 that whale trader Jason Leo, also known as “Set 10 Big Goals First,” posted a morning recap of his recent trading and said he is重新理解 discipline and risk control in trading.Jason said he made about $100 million in profit in the previous cycle, but he stayed too committed to a trend view and did not cut losses after the market reversed. That, he said, caused much of the profit to be given back. He said the experience left him with two core principles: discipline and risk. In the current cycle, Jason said he again started with a trend-trading mindset. He believed Bitcoin’s $74,000 target would be reached and viewed the swings along the way as part of the climb. As price moved closer to that level, though, the memory of earlier losses began to affect his decisions. He exited early. Bitcoin did eventually touch $74,000, but Jason said he did not stay in the trade. Jason said the mistake in the previous cycle was trusting the trend too much. This time, he said, he gave up on the trend too early because he was afraid of repeating the same loss. “The biggest challenge in trading is not beating the market,” he wrote, “but breaking free from the fixed view formed by past experience. If experience cannot change with the environment, it is essentially bias; if discipline loses judgment, it is essentially mechanical.”