After 9 years of ups and downs in the crypto world, I found my own path with 8 iron rules
After 9 years of struggling in the crypto space, experiencing three cycles of bull and bear markets, starting with an initial capital of 50,000 and now achieving financial freedom, I’ve stumbled, lost, and felt despair, but ultimately found my own way.
To be honest, I’ve fallen into every pit: ICOs, shitcoins, mining, over-leveraging, adding to losing positions... I’ve walked through almost everything you have.
But in the end, what truly allowed me to achieve a class leap was just one sentence: "Simple and brutal! Buy in a bear market, sell in a bull market."
Behind this is the 8 survival iron rules I’ve summed up over these 9 years.
Iron Rule 1: Cut losses when wrong, admitting mistakes is not shameful
It’s normal to lose on three or five trades; the key is not to let the emotions from the previous trade affect the next decision. If you lose, cut it; if you’re wrong, admit it. No one in the crypto world can be 100% right.
Iron Rule 2: Always prioritize survival
You’re not lacking opportunities; you’re lacking patience. Wait for the right moment to strike, with a lethal blow. Save your bullets for high-probability situations; doing nothing is the greatest discipline.
Iron Rule 3: Combine patterns, indicators, and cycles
Before opening a position, the more conditions met, the greater the odds of success. Most of the time we’re not trading, we’re waiting for opportunities. Those lacking patience won’t last long in the crypto world.
Iron Rule 4: Abandon hesitant trades, avoid random actions
Abandon any trade that makes you hesitate! You’re not here to gamble; you’re here to make money. Only trades that fit your trading model are worth pursuing.
Iron Rule 5: Trade using a system, not intuition
You are not an ordinary retail investor. You are a trader. Those who truly profit are not the emotional ones chasing prices up and down, but those who rationally execute their strategies.
Iron Rule 6: Don’t add to losing positions
Only add to your position when you’re in a winning situation; never hold on while losing. Otherwise, the more you add, the deeper you'll fall, and you'll end up getting wiped out at the bottom.
Iron Rule 7: Don’t over-monitor the market
The more you watch, the more anxious you get; the more anxious you become, the more chaotic your actions. You’ll end up taking premature profits or cutting losses randomly. It’s better to focus on your strategy than the candlesticks; following the rules I set is the right way.
Iron Rule 8: Trading is not your entire life
Once swept up by emotions, losses feel like sand; the harder you try to grasp them back, the more they slip away. Don’t think of getting rich overnight; surviving is the first step to making profits.
The era of getting rich by following tips is over.
Now, you can only survive and steadily make money by relying on systems, rhythm, and people!
