Many people ask me, is there a surefire way to make money in the crypto world? I can only say: there is no guaranteed profit, but there are ironclad rules to avoid disaster. These 8 rules are the hard-earned experiences I've gained from countless pitfalls, bought with real money and tears.

1. Only trade mainstream coins, avoid obscure small coins

In 2018, I was lured into an obscure small coin, thinking it could multiply tenfold overnight. As a result, the project team ran away in less than three days, and my account was wiped out. Since then, I understood that only mainstream coins like Bitcoin and Ethereum can truly help you turn your fortunes around.

2. Always trade with a small position first, going all in will lead to disaster

I have a friend who had 50,000 USDT and decided to risk it all on a contract, hoping to grow it to 200,000. The market moved against him, and he was liquidated within half a day. Later, he learned to divide his capital into more than 10 parts; even if he makes a few mistakes, he can still survive.

3. Think about your exit point before building a position

During the bull market in 2021, my account grew to 800,000, but because I was reluctant to sell, I ended up with less than 200,000. It was only after that I realized that entering the market is just the beginning; exiting is the real key.

4. Don't trade too frequently in a day; 2 to 3 trades are enough

There was a time when I was trading almost every day, going long in the morning and short in the afternoon. In the end, all the money I made in a day was erased by fees and my mindset. Later, I restricted myself to a maximum of 3 trades a day, and my efficiency improved.

5. Never average down; cutting losses is the first line of defense

Many people average down when prices drop; I used to do that too. The result is deeper losses. Now, if I'm wrong about the direction, I immediately cut my losses and exit; as long as I have my capital, opportunities will still be there.

6. Losses should not exceed 2% of your principal

Once, I experienced five consecutive losses, but because I controlled each loss within 2%, my account remained safe. If I had gone all in at that time, I would have been out long ago.

7. Don’t chase after sudden price spikes or drops

Many people see a big bullish candlestick and chase after it, only to lose everything when the market corrects sharply. I have suffered from such losses myself and learned that the market loves to harvest those who chase after price increases and decreases.

8. Trade with the trend, don’t go against the big trend

During the bear market in 2022, some people stubbornly went long, dreaming of a reversal, and ended up getting crushed. After I learned to trade with the trend, my trading became much easier.

These ironclad rules sound simple, but to really implement them, you need to control your hands and your mind. Making money in the crypto world is not about catching a big market every few years; it's about surviving to the next opportunity.

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