Hello everyone, I am Lao Chen. Eight years ago, I rushed into the crypto world with 1 million, and after three years, I lost everything except for my underwear. At my worst, my account was left with only 300,000. My wife was constantly threatening divorce, and I locked myself in the house for two months without going out. But it was during this darkest moment that I realized the truth of survival in the crypto world.
Now my account has grown to over 45 million. Today, I will condense the experiences gained through blood and tears over these 8 years into 10 survival rules to share with everyone:
Chasing highs is a guaranteed death sentence
Don't be envious of a surge; remember: the fiercer the rise, the more brutal the cut. I have a friend who chased LUNA last year and is still waiting on the rooftop now.
Buying points determine everything
There is no good or bad coin, only whether the buying point is right. Even a shitcoin bought at the right position can make money, while buying BTC at the wrong position can trap you.
Itching to trade is a disease that needs to be treated
Knowing it's not a buying point but still placing an order? This is called "trading hyperactivity disorder;" it needs treatment! I suggest tying your hands while watching the market.
Be a heartless trading machine
Don't fall in love with any coin; cut losses when necessary. Have feelings for the buy/sell points, not for the coins themselves.
Admit mistakes when losing money; don't pass the buck
The market is never wrong; the only one who can be wrong is you. Each time you get liquidated, you must write a reflection, really.
Technology is the confidence of mentality
A mentality without technical support is like a paper tiger; it collapses with a poke. First, understand the language of candlesticks before discussing mentality.
Wolf-like trading rules
Once you see it, latch on and don't let go; when it's time to run, don't linger. Remember: the market specializes in treating all kinds of disobedience.
Cash is king
The most abundant thing in the crypto world is opportunity; what is lacking is capital. As long as the green mountains remain, one need not worry about firewood.
The mentality of taking chances is a chronic poison
Money earned by luck will eventually be lost by skill. Changing yourself is more important than studying the market.
Slow is fast
Daily trading is not as good as waiting for big opportunities. 90% of my profits come from 10% of my holding time.
[Practical Insights Sharing]
My exclusive secret is just one sentence: "Only trade weekly level breakouts." Specific operations:
Wait for the price to break the 3-month high
Build positions when the pullback does not break the previous high
Set stop-loss 5% below the previous low
Start taking profits in batches when profits exceed 30%
This method has allowed me to maintain a 90% win rate for 5 years, but executing it is extremely counterintuitive—you may not find a coin that meets the criteria for three consecutive months.
[KDJ Indicator Practical Insights]
Golden crosses and dead crosses are just appearances; the key is to look at three points:
Golden crosses below 20 are reliable
Death crosses above 80 must be taken seriously
Divergence signals are the most precious
But remember: all indicators are just hindsight; true market movements never follow the textbook.
[Ultimate Mentality]
The secret of survival in the crypto world can be summed up in four words: wait for the big and release the small.
Be a spectator in small markets
Be a hunter in big markets
Usually be a turtle
When opportunity comes, turn into a crocodile
Finally, I want to leave you with a saying: In the crypto world, living a long time is the real skill. If you want to learn the specific methods, follow my live trading logs. Remember: wealth does not enter through urgent doors; slow is fast!
