In the cryptocurrency world, those who make a lot of money may seem to have hit the trend, bought the right coins, and have incredible luck. However, after interacting with many of them, I found that the ones who can consistently make money over the long term all have a set of 'iron rules' that support their actions. It’s not about random rushes or gambling, but about extreme discipline, a mature system, and stable emotional control.
Rule One: Controlling position size is more important than anything else. You may think you failed because of the market, but in reality, you failed because of your position size. A full position in the opposite direction will render even the best strategy useless.
Rule Two: Do not trade emotionally. Placing trades is not about releasing emotions, not because 'it is too weak, so I want to short,' nor because 'I feel it will rebound.' Any trades made without logic and system support are just giving away money.
Rule Three: Do not hesitate to stop losses. Many people end up failing because they think 'I'll just watch for a little longer,' and end up going straight to hell. A mature trader doesn’t avoid making mistakes; they know when they are wrong and admit it immediately.
Rule Four: Trade in familiar markets; do not invest in currencies you do not understand. If you don’t understand it, don’t touch it; don’t chase after what others shout about; don’t chase after something that has risen too quickly.
Rule Five: Set a clear trading system and adhere to it strictly. This includes entry logic, profit-taking and stop-loss rules, and position adjustment standards. Execution is more important than the strategy itself.
Rule Six: Acknowledge that you are an ordinary person, and don't fantasize about getting rich overnight. The truly impressive individuals do not double their money every day; rather, they consistently outperform 90% of people. It's not about who earns money the fastest, but about who lives the longest.
Rule Seven: Trading is not everything in life; you need to keep emotional space. Don't tie all your emotions to profits and losses, or you may easily go from 'losing money' to 'losing control.'
The last rule, and the most important one: If you want to make a lot of money, first learn how to avoid losing money. This is a market that goes against human nature; if you want to take money from others, you must be calm, rational, and patient enough.