'I once had assets over ten million three times in a bull market, and three times went to zero in a bull-bear transition; it was not because my skills were lacking, but because I couldn't control my hands.' - I, a ten-year veteran in the crypto space, confess.
1. Why can't we always control our hands?
This question, at its core, is a manifestation of human nature.
The crypto market is extremely volatile, with fluctuations occurring in just a few hours, and longer cycles of bull and bear markets. Most people clearly know they should 'buy low and sell high, control risks', but when truly facing the market, they still cannot help but frequently place orders, increase leverage, chase new coins, and copy others... ultimately walking step by step towards the abyss of liquidation or deep entrapment.
I first encountered Bitcoin in 2013; as an operations engineer, my technical background allowed me to understand Bitcoin's underlying logic earlier than others. But even so, I experienced three huge ups and downs in the past ten years, falling from peaks to valleys three times.
Looking back now, what truly caused me to blow up my account time and again, and miss opportunities repeatedly, was not a lack of understanding, but rather 'a fast hand, a restless heart, and no system'.
What are the common 'itchy hand behaviors'?
Chasing highs and cutting losses: seeing others profit, you can't help but jump in; panic selling when there is a drop.
Frequent trading: wanting to open the contract board without reason, even if there is no signal, still wanting to give it a try.
Heavy investment and all-in: once you judge the direction correctly, you want to take all profits at once; the result is often that the direction is right, but liquidation is on the way.
Blindly following trades: seeing a big influencer on Twitter posting about a coin, buying without even doing DYOR.
Not executing profit-taking and stop-loss: rules have been set, but they all become void when emotions come.
Over-reliance on 'feeling' in trading: no system, no plan, relying on intuition to make decisions.
These behaviors are all manifestations of 'not controlling the hand'. The core behind it is - you do not have a trading system that can 'keep you occupied when you are not trading', nor do you have an execution framework to constrain your behaviors.
2. My personal experience: earning millions in three bull markets, and going to zero three times
I entered the crypto space in 2013, watching Bitcoin rise from hundreds to tens of thousands, witnessing a bunch of pump-and-dump coins surge and crash, and I have seen countless stories of 'financial freedom' and 'zero overnight', and I am one of them.
First liquidation: 2013-2015
At that time I was still young, had a stable job, and bought only a small amount of coins for the first time, including some Bitcoin and altcoins (like Earth Coin and Litecoin). I played with technology back then, but I also had several times of multiple returns.
But because of a lack of systematic understanding, seeing some coins surge hundreds of times, the mindset becomes unstable, leading to frequent changes in positions, chasing highs and cutting losses, ultimately leading to altcoins going to zero and missing Bitcoin, reducing assets to zero.
Second liquidation: 2017-2018
This year has been my true period of wealth.
I participated in several early crowdfunding projects (such as OMG, BNB, Quantum Chain, etc.), with a principal of over a hundred thousand, and at one point the market value exceeded ten million. At that time, I was extremely confident, believing I had reached the peak of my life.
But suddenly policies changed, platforms ran away, manipulators crashed the market, combined with my blind over-investment and lack of profit-taking, I ended up falling from tens of millions in assets to only a few tens of thousands in cash. At that time, I had only one thought in my mind: give me another chance, and I will definitely establish a system and no longer mess around.
Third liquidation: 2021-2022
In this round, I heavily invested in meme coins and some blockchain games, and at one point made quite a bit following the trend. Unfortunately, I still did not systematically execute profit-taking, fantasizing about 'ten times return before exiting', and ultimately these coins went to zero, and I also went to zero again.
If not for the reflections and changes I experienced in these years, perhaps I would still be on the road to frequent liquidation.
3. What is the underlying logic that truly allows you to 'control the hand'?
After going through so much, I finally understand: to control my hands, I cannot rely on willpower, but on system power.
Here I summarize a 'reverse system' on three levels, sharing it with you who are still frequently blowing up accounts and unable to control your hands.
1. Cognitive system: establish a correct investment thinking model
You must understand that trading is not a game of talent, but one of probability + discipline + compound interest.
Trading is not about prediction, but about managing uncertainty
Controlling drawdown is more important than pursuing profits
Only those who can persist for 10 years are qualified to talk about freedom
The core of the cognitive system lies in building the habit of 'long-termism + structural compound interest' instead of 'whether this trade makes money'.
2. Execute the system: establish a behavioral framework to constrain 'the hand'
This is the 'anti-liquidation execution system' I am building, which includes the following key tools:
[Daily Trading Plan Card]
Today's market observation time: set a specific time, do not refresh the market randomly
Today's trading direction judgment: long / short / wait and see (write reasons)
Entry conditions and indicators: MACD golden cross? Three consecutive rising candles? Breaking support?
Position allocation plan: what percentage of the position? How many times to enter?
Profit-taking and stop-loss settings: how much to take profit, how much to stop loss?
Emotional rating: 0~10, how stable is your emotion today?
[Trading Journal Review Table]
Today's trading actions and results
Did you comply with the rules?
What emotional trades did you make?
What mistakes should you avoid tomorrow?
[Behavioral Constraint Mechanism]
Limit the number of trades per day
Do not trade under high pressure or emotional fluctuations
Automatically take a day off after reaching a certain loss
3. Emotional management system: fill the non-trading time with life
Your impatience is actually caused by 'boredom'. During the downtime in crypto, besides trading, do you have any life goals?
I started writing daily articles, reviewing trades + sharing insights
I started reading systematically, reading one book on trading or cognition each day
I use Notion to record growth and monetize my experience through content
I fill my life with side hustles, building a 'personal brand × AI × Web3' entrepreneurial model
When you have a source of achievement outside of trading, you no longer rely on 'refreshing the market and gambling' to get dopamine.
4. Specific suggestions: Starting today, how to gradually 'control the hand'?
Step one: write down your 'liquidation checklist'
Review all your past losses/liquidations, summarizing 5 keywords, such as:
Emotional chasing highs
Heavy investment in new coins
Did not set stop-loss
Frequent changes in positions
Not reviewing trades
This will become your 'anti-human reminder card' before each trade.
Step two: formulate the 'Five Questions Before Trading'
Before placing each order, ask yourself:
Is this the type of coin allowed in your system?
Do you have clear entry logic and indicators?
Have you set stop-loss and profit-taking?
Is your position appropriate? Can it withstand severe fluctuations?
Will losses affect your mindset and life?
If you cannot answer more than two, pause trading.
Step three: write 'trading journal + insight cards' daily
I am doing this every day:
Write a one-sentence summary of today's reading (stable thinking)
Write today's trading strategy + results + reflections
Write down an insight from today (continuously internalize)
This not only helped me develop a review habit but also allowed me to build content assets that can be monetized in the future.
Step four: establish a life system 'beyond trading'
Making money is just a part of life; building a richer life structure can reduce the obsession with trading.
You can be:
A writer sharing insights
A blogger recording growth
An entrepreneur outputting side hustles
A mentor accompanying others
When you are no longer identified as someone who 'earns money solely through trading', you will also be able to better judge 'whether to trade or not'.
5. Conclusion: it's not that your hand is too itchy, but that you don't have a system yet
If you find yourself stuck in the cycle of 'watching the market → impulsive → trading → losing → regretting → watching the market again', please stop.
You don't need faster judgment or a higher win rate; what you need is a system that allows you to have a sense of achievement even when you are not trading.
It took me ten years to finally understand this principle; you can start from today.
If your recent investments are not going well and you still don't know what to do after reading this! Leave 555! The Chef will help you formulate a plan!