BlockBeats News, August 22, Whale Trader "Sets 10 Major Goals First" Jason Leo shared a post this morning to review his recent trading experience, stating that he is currently reexamining the discipline and risk management in trading.

Jason mentioned that during the last cycle, he made a profit of approximately $100 million. However, due to his long-term adherence to his trend analysis and failure to stop-loss promptly after a market reversal, his profit was significantly eroded. This experience led him to summarize two core principles: "discipline" and "risk."

He stated that in the early stage of this market cycle, he maintained his trend trading mindset, believing that Bitcoin would reach the target price of $74,000 and considering any volatility during the process as part of the upward movement. Nevertheless, as the price gradually approached the target, the risk awareness stemming from his previous losses started to affect his judgment, leading him to exit the position prematurely.

Jason mentioned that although Bitcoin eventually reached $74,000, he did not hold onto his position. He believed that his mistake in the previous cycle was overconfidence in the trend, while in this cycle, he abandoned the trend prematurely out of fear of repeating past losses.

He concluded that the greatest challenge in trading is not beating the market but breaking free from the inherent cognitive biases formed from past experiences. "Experience that fails to adapt to changing circumstances is essentially bias; discipline that loses judgment is essentially robotic."