Ten years of trading coins, I've experienced liquidation and also achieved a hundredfold return. The following are valuable insights gained through hard-earned money, beginners can understand half and reduce losses by 50%:

Position management > Technical analysis Never go all in! I usually divide my funds into three parts: 60% mainstream coins (long-term hold BTC/ETH), 30% potential altcoins (gradually build positions after research), 10% contract margin (used only for hedging). In a bull market, use at most 80% of funds, always keep 20% USDT to deal with black swans.

Cycles are more real than indicators The four-year halving cycle is still effective but needs to be combined with macro factors. Remember: buy coins when the Fed is printing money, sell coins when tightening. Those who bottom-fished after the pandemic crash in March 2020 made more than those who watched K-lines daily.

Altcoin survival rules Don't touch new projects in the first three weeks after they go live on exchanges (valuation bubble is serious), hundredfold coins often emerge from those that resist declines during bear markets. If you can't hold on, ask yourself: can you bear it if it goes to zero? If not, reduce your position.

Contracts are not a path to wealth I've seen all those who play contracts, ultimately 97% get liquidated. The only 3% that survive use leverage below 5x + strict stop-loss, and only open positions when the big trend is clear. Ordinary people should stay away from contracts!

Information detoxification ability Don't trust KOL's calls. Truly valuable information often appears in GitHub code updates, institutional holding address changes, and exchange deposit/withdrawal data. Building your own data tracking table is more reliable than looking at news.

Timing of withdrawals determines success Set profit targets (like doubling to recover capital), characteristics of a bull market top: exchange crashes, taxi drivers recommending coins, mining machines priced at a 300% premium. At this point, you should sell in batches, leaving profits to continue rolling.

Finally, a hard truth: there are only two types of people who make money in this industry - the fools who hoard coins and play dead, and the scammers who run faster than dogs. When you think you are the former, you often become the fool in the eyes of the latter.

In the past, I stumbled around in the dark alone, now the light is in my hands.

The light is always on, will you follow? @币来财888