Having immersed in the crypto world for 10 years and being a professional trader for 8 years, I have rolled my initial capital from tens of thousands to eight-digit assets. The pitfalls I have encountered and the experiences I have accumulated, I will share with you from the bottom of my heart today.
First, let's highlight a key point: In the crypto space, don’t think about changing others; managing yourself well is already winning more than half.
The market doesn’t care how you think; it only recognizes results – if you haven’t made money, there must be something wrong; if you can continue to profit, you must have done the key things right. Losing money isn’t scary; what’s scary is losing money in a muddled way and avoiding problems without resolving them.
Find the root of the losses, resolutely change it, and then you have a chance to turn things around.
The way you think can truly determine your path. How you think influences how you act, and ultimately, what kind of results you will achieve. Don’t pretend to work hard; the market's report card cannot be deceived. Look back often; stick to what’s right and quickly adjust what’s wrong; over time, you will naturally see progress.
In trading, you need to put away that bit of luck, the dream of becoming rich overnight, and the mindset of gambling blindly. Don’t even touch trades that exceed your capability. Before opening a trade, ask yourself three questions: Do I really understand this market? Is my strategy and risk control ready? Can I bear the loss if it occurs? Knowing how much you can handle is the threshold of becoming a qualified trader.
The core of trading can be summed up in eight words: cut losses when wrong, hold on when right. Many people fall because of these two points – either they stubbornly hold onto losses until they can’t bear it anymore before cutting, or they run with small profits, watching the big market slip away. Remember, volatility is the norm in the market; if you judge wrong, cut it quickly to protect your capital; if the direction is right, sit tight and let profits run a bit longer; big profits come this way.
Finally, here are a few practical suggestions: don’t go all in, spread your money to withstand risks; don’t blindly follow trends to buy; you need to have your own judgment; don’t focus on short-term fluctuations with anxiety; pay more attention to long-term trends.
Remember, if you want to change, it’s never too late. In the crypto space, what matters is the ability to keep learning; when you become stronger, the road can go further. I wish everyone can earn money within their understanding here.
