If you plan to trade cryptocurrencies for a living, these eight iron rules are worth pondering repeatedly. I have been in the crypto world for 10 years, and these eight iron rules are a must-read before entering the market every day, allowing me to avoid large drops time and again. Today, I share them with friends who are destined to read this, hoping for some inspiration.

1. When entering the market, don't just look at the 'K-line' trend, especially for short-term trading, you also need to check the 30-minute K-line. At the same time, the overall market should stabilize and resonate at this moment before you can enter. For example, sometimes you see a K-line with a long upper shadow and feel there is no opportunity, but the next day it may show a big rise or even hit the limit. If you look at the 30-minute K-line, you will see the subtlety.

2. If the trend and order are not right, just one more glance could lead to a mistake. You should go with the trend, and the order of the uptrend must not be broken.

3. If you are not in a hot spot or a potential hot spot for short-term trading, it is better not to trade at all.

4. Give up all impulsive entries. Trade your plan, and plan your trade.

5. Anyone's opinion or view is merely a reference; you must have your own thoughtful consideration and careful analysis.

6. First, lock in the direction, then select the coins. If the direction is right, you will achieve twice the result with half the effort; if the direction is wrong, you will achieve half the result with twice the effort.

7. Get involved with coins that are currently on the rise. Trying to guess the bottom is a big taboo; you always feel a rebound is imminent, followed by an ultimate shakeout. Stock prices always move toward the direction of the 'small resistance level'. Getting involved with coins that are currently on the rise means choosing a direction with less resistance.

8. After a big gain or a big loss, you should empty your position and reassess the market and yourself. Clarifying the reasons for the big gain or loss is important before re-entering.

In my many years of trading cryptocurrencies, I have found that after a big gain or loss, emptying the position leads to a success rate of over 90%.