After stepping into the cryptocurrency space for over seven years,

I have seen countless tutorials, studied numerous traders' practical summaries, and experienced the repeated struggles of losses and reviews. In the end, I have distilled the following points of understanding, hoping to help you avoid detours:

1. Emotional management is the foundation of trading

Emotional management does not mean you should be machine-like, devoid of joy or sorrow, but rather have a firm inner belief: believe that losses are only temporary, and you will eventually move towards profit.

Maintain rational operation, do not panic in the face of volatility, avoid blindly over-leveraging, and always maintain calm execution. The market is volatile; only by stabilizing your emotions can you stabilize your account.

2. Establish your own trading system

Trading is not gambling, but it is filled with probabilistic attributes. You need to continuously refine a system that belongs to you through practice, including:

The combined use of technical indicators, position control, and profit-taking and stop-loss mechanisms, as well as strategies that incorporate multiple time frames. A system is not equal to a templated operation, but rather a clear and logical code of conduct that prevents you from trading emotionally and going with the flow.

3. Capital management determines whether you can survive

"As long as the green mountains remain, you don’t have to worry about not having cryptocurrency to trade," this saying is especially important in the crypto space.

Do not hold onto the mindset of "going all in for a chance," as once you bet wrong, it is very likely that the market will lead you to a liquidation.

You need to learn to control your risk exposure based on your maximum tolerable loss value. Even if you face temporary setbacks, you should still have a chance to turn things around. As long as you are still at the table, there is an opportunity for a comeback.

4. Technical analysis cannot be ignored

Entering trades easily without understanding the technology is gambling on luck. And luck will eventually run out.

Learning technical analysis is a continuous accumulation process. The key is not to learn a lot, but to find a method that suits you, simplifying the complex.

Common tools such as naked candlesticks, Bollinger Bands, moving average systems, MACD, volume bars, OBV, etc., are sufficient. The key lies in understanding the essence and proficient use.

Remember: technology is not omnipotent, but lacking technical knowledge is truly a huge disadvantage.

Perpetual contracts are not an ATM, but an amplifier. They can amplify profits, but they also amplify mistakes.

Whether you are a novice or an experienced player, if you want to survive in this market for the long term, what you are ultimately competing with is not just luck, but: cognition + discipline + execution ability.

I hope this summary of experiences can become a light on your trading journey.

Follow me, and together we will navigate through bull and bear markets towards a higher level of understanding.