In Hangzhou, this city of the internet, I have endured eight springs and autumns.
The internet capital in the eyes of others is a land of opportunities everywhere; but for someone like me, who is entrenched in the crypto market, here there are only ceaseless candlestick charts, screens lit up late at night, and a heartbeat that rises and falls with the market trends. Over these eight years, the ups and downs of the crypto market haven't gifted me with luxury cars or mansions, but rather three 'standard configurations': a receding hairline, dark circles under my eyes comparable to national treasures, and a heart that has been hammered down by liquidation countless times, so hard it feels like an 'iron heart'.
In 2016, I plunged into the crypto market with just 5000. There were no 'inside information' to rely on, and I didn't dare to gamble on luck; back then, I just stubbornly persisted with a fighting spirit. Who would have thought that this 5000 would roll into seven figures over four years?
You might not believe me, but I've tasted the feeling of my position exploding down to just my underwear more than five times over the years. Once, after a margin call, I sat on the floor of my rental, staring at the 'zeroing out' message on my computer screen, not even willing to order takeout, subsisting on bread for two days. But it was these brutal experiences that honed my resilience to 'fall and get back up,' making it tougher than steel.
After the market closes every day, I religiously review for 4 hours, breaking down each operation to the minute to scrutinize details—where I bought too early, where I sold too late, and where the major players' baiting signals are hidden on the K lines. The hardest part isn’t deciphering those winding K lines, but watching a group of people in a WeChat group shouting 'go all in! If you miss it, it’s gone' and being able to firmly hold back my hand that wants to click the mouse.
The pitfalls and real money lost over these eight years have finally crystallized into five practical insights. If you guys can take this in, you could at least avoid three years of detours and save tens of thousands:
Volume is the 'ECG' of the market; don't be fooled by prices
Prices change faster than an actor’s face; they soar like a rocket when rising and drop like bungee jumping when falling. I learned this the hard way early on, seeing prices shoot up straight and jumping in, only to see them start to decline slowly right after I bought in. It wasn’t until I was trapped that I realized—this was the major players 'fishing'! Remember: a sudden surge followed by a slow retreat is most likely bait; a sudden increase in volume at a high price means the scythe is already raised—run quickly!
A sudden drop is not an 'opportunity to pick up bargains'; it's the major players 'running away'
Many people see prices plummeting and their eyes light up, thinking 'it's time to buy the dip,' not realizing this is all a 'smokescreen' by the major players. A rapid drop followed by a slow rebound is not 'bottoming out'; it's the major players selling off and withdrawing. In 2019, I suffered particularly badly, thinking I had caught the bottom when it dipped, only to find myself trapped 'in the basement under the floor.' I watched my account losses day after day, struggling for a full six months before I could break free. Remember this: a flash crash is never a sudden gift from the heavens; it's a 'fatal blow' to the greedy.
At high positions, 'silence' is the most dangerous; low volume is more perilous than high volume
Many people think 'only increased volume will lead to a peak,' but in reality, low volume at high positions is the most alarming signal. It's like a bustling food stall suddenly falling silent; the next moment, a table flip is highly likely. In 2021, there was a wave of market activity where the price shot up to a high, and the trading volume suddenly dropped by half. People in the group were still crazily shouting 'it can go to the sky!' Trusting my intuition, I decisively cleared my position. Three days later, a crash came; thinking back now, it still gives me chills—if I had been greedy, all my previous profits would have been lost.
Bottoms look at 'endurance'; single instances of increased volume are all 'smoke bombs'
Newbies always think 'increased volume means the bottom is in', but usually, single instances of increased volume at the bottom are just baiting buyers. What does a real bottom look like? It's when volume continues to shrink to the point where no one wants to trade, and the market is so quiet that even discussions are scarce, followed by a slow increase in volume over several days—this is the mark of major players quietly accumulating. In 2020, I used this trick to catch the bottom; it consolidated with low volume for half a month, then suddenly surged with increased volume for three consecutive days. I decisively entered the market and ended up doubling my investment. I'm still using this trick today, and it never fails.
Emotions are the biggest 'enemy'; survival is the way to go
I've seen too many people make money by luck, only to lose it all due to 'greed.' In the crypto market, those who can make money in the long term are never the 'calculators' who can predict the market precisely but are those who dare to act decisively when opportunities arise and can hit the brakes promptly when greed surfaces. Now, before I trade every day, I ask myself: 'Is this a rational judgment, or is it just emotions taking over?' Just this one question has saved me countless times.
Staring at the suddenly increased 320,000 in my account, I was stunned for a long time before regaining my senses. It turns out that wealth is always a 'mirror' of cognition—how clear-headed you are about the market reflects how honest the numbers in your account are.
Over these eight years, I've lost too much: countless sleepless nights watching the market, missed friends' weddings, canceled class reunions, and even spent New Year’s revisiting market situations. But I’ve also gained the most precious things: the clarity to see through market movements and the confidence to proceed steadily. These invisible gains are worth much more than the numbers in my account.
From being a 'leek' blindly following others to now being a profitable analyst, the pitfalls I've encountered could fill a mountain. You don’t need to walk the detours I have, nor lose the money I lost.
Want to avoid more investment traps, understand the logic behind the market movements, and pocket my eight years of practical knowledge? Just follow me. I will slowly share daily market analyses, operational techniques, and guides to avoid pitfalls—all solid practical experiences without a single empty word.
Follow me, and when the next market situation arises, we can make steady profits together, no longer being the 'leeks' that get cut! #加密市场回调
