I still remember last March when Bitcoin broke its historical high again. At that time, under the introduction of my teacher, I truly stepped into the crypto world for the first time.

At that time, I knew almost nothing about the market; I only knew 'Bitcoin can rise a lot' and heard 'altcoins rise even more fiercely.' Soon I started trying contract trading, from 10x leverage to 50x, 100x, and finally, as expected, I faced liquidation.

On the day of liquidation, I stayed awake all night, thinking about where things went wrong.

Only later did I slowly understand a few basic principles:

Contracts should not be traded with high leverage recklessly

Money cannot exceed one's understanding

The stop loss amount must be within a psychologically bearable range

Many people are like this; when things go too smoothly in the early stages, they easily ignore risks and lose their respect for the market.

After the first liquidation, I was unwilling to accept it and added money to my account. Thinking that this time I should be 'more stable', I switched to spot trading.

Just then, the whole community was shouting 'spot trading is not scary', and Zhu Yidan 'Dan Zong' was the representative figure of this statement.

I bought Ethereum in batches. Fortunately, it didn't completely crash; although I was trapped for a while, it eventually allowed me to break even.

To be honest, I think that was purely luck. If I had bought the altcoins that were hyped up at that time, I might not even be able to find their icons now.

The market has always been frustrating, rising slowly, but time flies. During the time I was trapped, I stopped trading and instead calmed down to learn seriously, studying basic concepts, market logic, and various trading systems.

By November, various positive news kept coming, and altcoins finally started to rise together; the market seemed to welcome a real 'altcoin season.'

And the Ethereum I was originally trapped in finally broke free — but what I didn't expect was that I missed the subsequent surge.

Until February this year, I started to buy some altcoins that looked good in batches, entering at key positions. Friends around me said: 'As long as you buy in batches at the right positions, the altcoins you are optimistic about will not die.'

I also did a lot of backtesting, and at that time, I really felt that this statement had some truth.

But I overlooked one point — survivor bias.

Those projects I saw that were 'doing quite well' were actually just a small handful that survived; most projects had already been ruthlessly eliminated by the market.

This time I set a stop loss, exiting when losses reached 25%. Although I still lost in the end, I didn't face liquidation again, the principal was still there, and most importantly — my mindset stabilized.

I have always operated alone, with no one pressuring me or urging me to make decisions.

I always believe I am on the right path, even if it's a bit slower and lonelier, it's okay.

Later, I met a very excellent trader and learned a lot from him. He said something that impressed me deeply:

'When it's right, dare to take big profits; when it's wrong, stop losses quickly.'

In fact, the market is not scary; what's scary is — you think you won't make mistakes.

The last sentence is for myself and those friends who once bought altcoins at high positions:

'Buy at the peak, lose to the end'

It's not a joke; it's a real experience many people have gone through.#BTC走势分析 $BTC