Hi, friends! Today we’re not discussing complex candlesticks or MACD, nor sharing data from big on-chain whales. Just taking this boring time of watching the market to share some heartfelt truths from someone who once stumbled in the crypto world and is now barely standing. Looking back at when I first entered, it was all excitement, feeling like I was about to reach the peak of my life, but reality slapped me hard—so crisp and loud! Well, it’s time to share some "old fox" wisdom earned through lessons.
1. The most expensive "tuition" I've paid: not because of poor skills, but because of impulsive thinking!
The biggest pitfall for newbies? It's not about not understanding charts; it's about not being able to control their hands!
I still remember that in 2022, Bitcoin, Dogecoin, and other news were everywhere, and my social circle was sharing screenshots of their profits, so glaringly red! At that time, I felt like I had missed out on the internet and the real estate boom, and I couldn't miss this immense wealth! What? Can't understand the white paper? What is a candlestick? Doesn't matter! "Go all in! Go all in! Win a villa, lose bricks!" What a catchy slogan!
The first and biggest mistake I made can be summed up in one word: greed! And it was blind, mindless greed!
Symptom 1: "Late-stage FOMO patient." Seeing a coin skyrocketing, friends sharing their profits, feeling anxious and frantic, thinking if I don’t buy now I’ll miss out on a fortune! What research? What risks? Who cares! "Buy! If I don’t buy now, it’ll be too late!" The result? Eight out of ten times, I precisely bought at the peak, then watched it perform a "free fall." At that moment, I understood, "when others are greedy, I should be fearful" is not just a cliché; it’s a survival mantra!
Symptom 2: "Buy more as it falls, headstrong warrior." The coin I bought is down? No way! I must "average down"! Buy more! Down again? It must be the big players shaking out! Increase my position! Still going down? I refuse to believe it, All in! In the end... my account is a sea of green, and my heart feels cold. This isn’t averaging down; this is digging a pit for myself and digging deeper! Later I understood, this is called "adding to the position against the trend, getting more anxious, ultimately receiving a ticket for a rooftop view," it's the VIP channel for quickly losing everything.
Symptom 3: "Rumors as my guiding light?" When some Twitter big shot or KOL shouts in the square, or some mysterious group leader drops a "top secret insider scoop," I instantly feel energized! Adrenaline surges, my hands move faster than my brain, fearing that if I wait a second, I’ll miss out on billions. The result? Nine out of ten times, I end up as a glorious "bag holder," and that one time, I dive into a deeper pit. Thinking back, those so-called "insider scoops" were likely just bait meant for me to see. There’s too much noise in the market; learning to filter it out is crucial.
Lessons learned the hard way: The market is especially harsh on those who are "rebellious and quick to act." Frequent trading, impulsive decisions, and ignoring risks don’t earn money; they just make you work for the exchanges and project teams (paying fees and providing fuel)! Real opportunities often quietly emerge when you patiently wait and during market panic. Why rush? Money won’t grow legs and run away (but your principal might)!
2. From "headstrong warrior" to a respectful "old player": My journey of developing discipline (not that grand, but effective)
Improving discipline? Don’t bother with the empty talk! That unforgettable liquidation hurt! The pain of real money! After that pain, I realized: wanting to survive in the crypto world relies on more than just passion and luck? That's a dead end. Later, I found that controlling myself requires "simple methods" and "physical separation":
"Draw a red line for yourself" - position management is a life-saving charm! I set a strict rule for myself: for each trade, I can lose a maximum of 2% of my total funds! For example, if you have 10,000, your maximum loss per trade is 200. If it hits this point, even if the king of heaven comes, I have to cut! Don’t feel sorry; this is tuition, money for lessons. If your total account loses more than 5% in one day? Shut down! Walk the dog! Play games! Do anything, just don’t look at the market! Write this red line down and stick it next to your monitor; you must glance at it before trading. Cold numbers are a thousand times more reliable than a hot brain.
"Write a trading diary - truly face each trade with a review." This idea seemed silly at first, but after sticking with it, it really pays off! For every buy and sell, simply note down: why did I buy? (Was it based on analysis, or just pure itch?) When do I plan to sell/stop loss? How was my mood at the time? (Excited? Anxious? Wanting to make back losses?) After some time, looking back, it really hurts! You’ll find that profitable trades are mostly calm and well-planned; losing trades are mostly accompanied by "overexcitement," "FOMO," or "spite." The diary becomes a mirror, showing you how "green" and "impulsive" you are.
"Mandatory cooling-off period - splash some cold water on your brain." Heart racing and palms sweating at an "unprecedented opportunity"? Immediately! Right now! Leave the computer/phone! Go grab a cup of water, do ten push-ups, play with your cat, watch a funny video. Enforce a 15-minute cooling-off period. The magical thing that happens: most "unprecedented opportunities" turn out to be traps or poorly timed. Once that impulse passes, your mind can reset. This trick has saved me countless times!
"Learn to 'lie flat' - being zen is true wisdom." One of the most counterintuitive points in the crypto world is: most of the time, the best action is "no action"! Don’t always think about grabbing the next skyrocketing coin (hoping for a double today or tenfold in five days). Imagine yourself as an old farmer: in spring (bear market/volatile market), choose seeds well and till the soil (research projects, learn knowledge); when the time comes, plant the seeds (buy); then patiently wait, water when it’s time (hold), fertilize when it’s time (stay updated); when the harvest season arrives (reaching target price/bull market peak), decisively reap (take profits)! What about the long stretch of time left? Drink tea, watch plays, do whatever you want! When the entire market is jumping around and chaos ensues, if you can calmly "lie flat," you've already outperformed most people.
3. The life-saving three-piece set for newly entered "small players"
Looking at the newcomers now is like seeing my younger self, reckless but full of hope. As someone who has been through it, I have a few down-to-earth yet life-saving truths that I must share:
"Spare money! Spare money! Still TMD spare money!": Remember! The money you invest in the crypto world must be the kind that "if lost completely, you can just complain a bit, feel sorry for two days, but it absolutely does not affect your ability to eat, sleep, or pay your bills!" Never make the mistake I did, almost putting my next quarter's rent into it! And don't believe in any "take a chance to turn a bike into a motorcycle," and definitely don’t borrow money or take loans to trade coins! There are no "newbie gift packs" in the crypto world, only "newbie harvesting machines." Use a bit of pocket money, play small to feel the market's cruelty, and experience how your fragile little heart reacts to ups and downs (greed and fear). This "tuition fee" is worth it! Better than reading a hundred analysis reports!
"Slow is fast, less is more": Forget about those "getting rich overnight" and "hundredfold myths"! That's like winning the lottery. During the newbie phase, the goal isn’t to get rich, it’s to "stay alive" and "learn." Fix your eyes on one or two "old brand" projects (like BTC, ETH) that you can truly understand and have some value, and study them thoroughly. This is a thousand times more reliable than chasing those obscure, high-volatility "sh*t coins" whose names you can't even pronounce! Remember: wealth is a byproduct of knowledge. Did you make money by luck on a coin? Don’t worry, the market will eventually find a hundred ways to make you pay back with "strength" (ignorance) along with interest! First, cultivate your inner strength!
"Your number one enemy is not the big players, but yourself": The market is always right; the only one who can be wrong is you. Acknowledge that you can make mistakes, accept losses (with that 2% red line!), and work hard to control the greedy and fearful monster inside you—these "inner skills" are far more important than learning a hundred technical indicators! Candlestick charts are lifeless; human emotions are alive and the hardest to control.
"Hold tight to your 'life-saving rules' and never let go": When the market crashes, chaos ensues, and various news floods in, when you're panicking, the only thing that can save you is the trading rules you set in advance (like that 2% stop loss, 5% shut down). Any thought of "this time is different" or "wait a bit, it might come back" is poison! Rules! Rules! Rules! They are your only lifebuoy in this stormy sea; hold tight and never let go!
As a seasoned player’s final insight:
After years in the crypto world, I’ve made money and lost money, like riding a roller coaster. But honestly, my biggest gain isn’t the fluctuating numbers in my account; it’s knowing myself better, toughening my skin, and calming my temperament. This market is like a super magnifying glass, illuminating your inner greed, fear, luck, and unwillingness to lose, forcing you to confront them. Looking back now at those nights spent staring at the screen, heart racing with the ups and downs, they were foolish yet persistent.
But speaking of which, I used to dream of buying a hundredfold or thousandfold coin to get rich overnight, achieving financial freedom after a cycle. Now I feel that as long as I can work steadily within my understanding, not being rushed by the market's clamor, and occasionally see some tangible growth in my account—ten U, a hundred U—I'm not picky; a thousand U, ten thousand U in profits is already a huge blessing. Wealth can't be hurried. Sometimes, the more eager you are to grab it, the faster it runs away; if you stay calm, like an old farmer patiently tending to your own plot of land, it might quietly come closer to you.
Lastly, here’s a saying the market taught me: "You can make money in a bull market, you can make money in a bear market; only pigs (those with no discipline, led by emotions) get taken to slaughter!"
Protect your principal; that’s protecting the spark for your future resurgence in the crypto world or any other place. We don’t want to be the pig waiting to be slaughtered, right? Stay steady and survive; that’s better than anything!
My current motto: "I used to want to ‘go all in and change my fate,’ but now I think, ‘steady and long-term, living like a longevity star’ is the true skill." Let's encourage each other! I wish everyone in the crypto world can become a "longevity star," rather than a "shooting star"!
Follow me for daily sharing of real-time on-chain data and dynamics, helping friends predict decisions; don’t miss the excitement, and feel free to leave comments for discussion.
