Ten years of ups and downs in the cryptocurrency world, from being naive to getting hurt, and then gradually finding my own rhythm. The tuition paid during this period far exceeded my imagination. If I could have understood these principles earlier, I might have avoided many detours.

1. Capital management is the foundation of survival

I have nearly gone to zero three times due to heavy investments. The most painful time was in 2018 when I bet 80% of my funds on a project that claimed to be the "Ethereum killer," which ended up going to zero. Now my iron rule is: no single coin should exceed 15% of the total position, the total position should not exceed 70%, and never leave a short position. The market is always full of opportunities; what it lacks is the principal that remains in the market.

2. Emotional cycles are more real than technical indicators

The biggest rule in the cryptocurrency world is the emotional cycles of the crowd. When there is fear, I build positions in batches: when no one around is discussing cryptocurrency, exchanges are quiet, and the media starts reporting that "Bitcoin is dead," it's time to gradually position myself. When there is greed, I exit in batches: when taxi drivers are recommending coins, WeChat groups are crazily sharing profits, and various "teachers" are emerging, it's a signal of accumulated risk.

3. Focus in the age of information overload

Every day there are countless hot topics: DeFi, NFT, Metaverse, blockchain games... I used to be exhausted chasing every concept and ended up losing sight of important things. Now I only focus deeply on two areas: Bitcoin and the Ethereum ecosystem. In-depth research on a few quality projects is more effective than shallowly dabbling in ten hot topics. The market will eventually reward value discoverers, not news chasers.

4. The art and discipline of stop-loss

Setting a stop-loss is not admitting failure, but rather risk control. I strictly control my stop-loss line at 15-20%, I do not take profits but must stop losses. Remember: preserving capital is more important than making profits; a deep loss may take three years to recover, and during those three years, you might miss an entire bull market.

5. Establish your own trading system

Do not blindly copy anyone's strategy. My system is simple but effective:

Only invest in projects I understand and review them at a fixed time each week, avoid making impulsive decisions, withdraw the principal after making profits, and only use profits to continue investing in core assets for the long term, participating in short-term fluctuations with a small amount of funds.

No one can rely on luck to win continuously. True stable profits come from respect for the market, awareness of risks, and control over human nature.

In the past, I stumbled alone in the dark; now the light is in my hand.

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