In 2019, I entered the cryptocurrency market with a borrowed principal of 60,000 yuan, venturing into this world full of opportunities and risks. In just a few years, my assets surpassed the eight-digit mark. Looking back over the past decade, I have navigated through various trading strategies including long-term, short-term, ultra-short, and swing trading. Each model has left behind both the joy of success and the lessons of failure, leading to a profound and unique understanding of cryptocurrency trading.
It is said that the '10,000-hour rule' can make a person proficient in a skill, and this is especially true in the cryptocurrency market. Daily research for 8 hours, over 200 days of reviewing in a year, and five years of accumulation is merely the starting point for embarking on a stable profit path. Moreover, in the cryptocurrency market over a decade, one is bound to encounter unpredictable pitfalls. Therefore, during these ten years, never let your invested principal exceed your ability boundaries. You may have heard many legendary stories of turning tens of thousands into millions or even billions, but those who achieved wealth through high-leverage contracts often end up losing everything in bear markets; these painful endings are just less known. In the face of the extreme volatility of the cryptocurrency market, human weaknesses are often magnified, causing one to lose the ability to make rational judgments.
Returning to the point, I want to share the most profound insights I have gained from trading in the cryptocurrency market over the years. In the cryptocurrency market, it is almost impossible to change others, and changing oneself is equally fraught with difficulties. However, only by daring to face one’s shortcomings and actively making changes can one find a glimmer of hope in this market. The financial market never has 'what ifs'; it only judges heroes by the results. In cryptocurrency trading, if one fails to achieve the desired results, it must mean that something went wrong at some stage; while behind continuous profits, the correct methods and strategies have undoubtedly been found.
Our way of thinking acts like an invisible baton, guiding every daily trading action, and these actions ultimately converge into the results of trading. Losing money is not scary; what is scary is not knowing why one is losing, and even less willing to face and solve the problems. Every profit and loss in trading has its causes and effects; today’s situation is a reflection of every past decision. Regardless of the outcome, as adults, we must accept it calmly, after all, on the path we choose, even if thorns abound, we must grit our teeth and continue forward. Do not try to deceive yourself with false efforts, as the market's final feedback will not play along.
In daily trading, we must cultivate the habit of reflection and summarization. Good trading strategies should be continuously optimized and refined, while issues should be promptly adjusted and corrected. Given time, we will surely be able to progress steadily on the trading path. In cryptocurrency trading, it is essential to abandon wishful thinking, let go of fantasies of overnight wealth, and refuse trades that exceed our own abilities and understanding. Before each order, we must repeatedly ask ourselves: Is the logic of this trade clear? Is the decision-making basis sufficient? Is the trading strategy and risk control system complete? Can we bear the consequences of failure? Clearly recognizing our own ability boundaries is a required course for becoming a qualified investor.
Finally, please remember that the essence of trading is hidden in these simple ten words: Cut losses when wrong, hold on when right. As long as you have the determination to change, it is never too late to start your journey of self-improvement.
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