A Must-Read for Newbies in the Crypto World!

Eight Practical Rules [Thumbs Up] A Year from 50K to 5 Million in Crypto, These 8 Tips Are So Real!

I am an ordinary crypto player who started with a capital of 50K I saved from working in a factory.

At that time, I was completely a beginner, having experienced being trapped, cutting losses, and facing liquidation. In just a few months, I lost down to only 30K, and was about to give up, I decided to summarize my experiences and learn strategies to completely change myself. Now my account has miraculously reached 5 Million!

Later, I summarized my 8 survival rules:

1. Average down when trapped, just to break even, don’t be greedy for profits.

Initially, I often fantasized about a rebound, but ended up losing even more. Later, I understood that averaging down only reduces losses; don’t think about flipping overnight.

2. Calm markets often hide storms.

Once I underestimated risks during a sideways market, resulting in a sudden spike and then a sharp drop, losing everything. The market changes rapidly; always stay vigilant.

3. Big rises must correct, don’t be greedy at high positions.

I once added to my position at a high price, ultimately getting deeply trapped and losing. “What rises a lot must fall, this is a hard rule.” Observe the patterns, don’t be misled by high points.

4. Buy in fear, sell in frenzy.

Every time others panic, I buy the dip; when others are crazy, I sell. Counterintuitive moves may seem against human nature, but they are the secret to profit.

5. Don’t sell when it’s not rising, don’t buy when it’s not crashing, remain still in sideways markets.

Once I rushed to place a bet during a sideways period, resulting in missing a better opportunity. Patience is more important.

6. Watch for resistance when rising, support when falling, keep key levels in mind.

Use technical analysis to grasp key levels, making operations more composed from then on.

7. Being fully invested is a big taboo; position size determines life and death.

“The worst liquidation happened because of being fully invested.” Leave some room to flexibly respond to market changes.

8. Mindset determines everything.

Greed and fear are the most terrifying enemies in crypto. From a novice chasing highs and cutting losses, I transformed into a calm and rational expert.

In the end, I reflect: “The crypto world is a battlefield and also a place for mental cultivation. Whoever can control their emotions can laugh last.”

Have you also experienced a personal story like this?

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