In the summer of 2015, when you could fry an egg, I did something that would have my mom break my legs. I took the 50,000 I saved up over three years of frugality to make a down payment on a car, then immediately dumped it into mainstream crypto assets that were 300 dollars each at the time.
Now that I think back, my courage back then was even greater than some of the air coin projects I analyze now. My mind was filled with the thoughts of 'either driving home in a new car or going back to the factory to start from scratch again.' Who would have thought that in less than two years, my account balance skyrocketed to 2 million as if it had taken a rocket.
I immediately flew to Sanya and rented a sea view room, holding champagne and watching the waves crash against the shore. I almost shouted to the sea, 'I want financial freedom.' Looking back now, the arrogance I had at that time was as if I had 'peak retail investor' branded on my forehead.
In the crypto circle, the tide comes fast and retreats even faster. When the winter of 2018 arrived, my 2 million was swept away like shells by the waves, leaving only 180,000. That bottle of unfinished champagne is still on my bookshelf, the bubbles are long gone, and it has turned into my family's most eye-catching 'pillar of shame' — every time a friend asks, I say it's a 'decorative item worth 1.82 million'.
After ten years of ups and downs, I haven't retained much virtual assets, but I've saved four 'bloody pearls', sharing them from the bottom of my heart today with the brothers still struggling in the circle is 100 times more reliable than the 'insider news' in those signal groups.
1. Cognition is a 'crypto shield', not a 'placebo'
When I first entered the circle, I was a typical 'emotional puppet'. One night when FOMO emotions were at their peak, someone in the signal group shouted 'charge, the next hundredfold coin', and without blinking, I jumped in, only to lose six months of profits in 30 minutes.
After dawn, I was so angry that I was shaking, I gritted my teeth and went to look at the project's white paper. Goodness, the second page was full of logical fallacies, even the project implementation time was written as 'as fate would have it'. Since then, I realized: the market never treats knowledgeable people poorly, nor does it spare 'cognitive blank' retail investors. Money that exceeds your ability is like stolen; sooner or later, it will be returned with interest. Now when I look at projects, I first check the team background and then dig into the code submission records, even more carefully than checking someone's phone.
2. Position is a 'lifeboat', don't treat it as 'gambling chips'
I used to believe that 'all in is the only way to win big money', but once an extreme market situation hit me hard. Now my asset allocation has turned into 'a tough sandwich': 60% of mainstream assets as the base, just like the 'old base' at home, very stable; 30% for low-risk arbitrage, equivalent to a 'buffer', not afraid of market fluctuations; and only 10% dare to touch high-risk targets, even if I lose, it won't hurt too much.
Remember, surviving in the crypto circle is more important than making quick money. What you think is 'all or nothing' is seen as 'a gift to the market'. Keep a good lifeboat, so you can wait for the next wave.
3. Leverage is a 'mirror that reveals greed and despair'
I will remember the liquidation in 2017 for a lifetime. At three in the morning, my phone kept vibrating with messages, and when I opened it, it said 'account has been cleared'. I stared at the screen for half an hour, even my hand shaking while trying to smoke. From that day on, I deleted all leveraged trading tools cleanly.
Many people think leverage is a 'magic tool to amplify profits', but I tell you, what it amplifies is never the profit, but your greed and fear. The emotions in the market never have an 'escape route'; you are greedy for that little profit, and it is greedy for your entire principal, this transaction is never worth it.
4. Information is a 'navigation light', don't trust 'second-hand emotions'
Now there are many people in the circle who dare to place orders just by swiping emotional posts on social platforms. When they see the K-line in red, they shout 'the bull market is coming', and when it's green, they call it 'the bear market has arrived'. I no longer do this — while others are swiping posts and being led by the rhythm, I'm looking at the project updates in the code repository; while others are staring at the K-line guessing the top and bottom, I'm flipping through the project's development emails and community announcements.
Original information is closest to the truth. Last time I cleared my position three days in advance because I found clues from the project's code submission frequency declining, successfully avoiding a 70% crash. Don't rely on 'heard news' for decision-making; your money deserves more reliable evidence.
After ten years, I finally drove the car I wanted to buy back then, but it wasn't by luck, it was through lessons learned and solid preparations. The crypto circle never has a permanent hot spot, nor does it have a permanent trough; those who can endure are all relying on a clear mind and solid preparations.
