Advice from an old hand in the crypto world: 99 hasty operations are not as good as lying flat and enjoying the profits
Having witnessed the miracle of 1000U multiplying by 10 in the exchange, I've also seen millionaires go to zero and smoke on the rooftop. After struggling for 8 years, I finally understand: the most profitable principles in the crypto world often lie in the most 'foolish' operations.
Don't rush to shoot, first be a wooden man for three days
During the crash on March 12, 2020, my account shrank, and I couldn't bear it and ran away. As a result, Bitcoin rebounded by 15% on the fourth day; if I hadn’t run, I could have earned enough for a meal. Now I’ve developed the habit: before opening a new position, I first look at the K-line for three days, waiting for the float to move like fishing — those who chase high prices at the opening, 90% become bag holders.
Stop-loss should be as decisive as chopping hands
I remember chasing a certain meme coin in 2021, going from a 20% profit to a 30% loss while still fantasizing about a rebound. When I finally cut my losses, I realized that this money was enough to buy two cars. Now I keep a memo in my phone that says 'cut at half' — every time I want to hold a position, I pull it out to look at — admitting a mistake is not shameful; being liquidated to zero is the real slap in the face.
Don’t shoot all your bullets, keep some food for survival
At the peak of last year's bull market, I converted 80% of my position into stablecoins, leaving only 20% to play spot trading. As a result, when altcoins collectively crashed, I used this money to buy the dip in Ethereum and ended up making enough for a car. Old hands understand: position size is the confidence to stay alive, just like storing food in famine years, more precious than gold.
Follow the market's rear, don’t be a contrarian
When the Federal Reserve signals interest rate cuts in 2024, all my friends are shouting 'the bull market is coming,' while I silently increase my Bitcoin position to 50%. Some laughed at my lack of vision, but three months later Bitcoin broke 100,000 dollars — going with the trend is not following blindly; it’s understanding the direction of the tide.
Losing trades must be reviewed repeatedly
Now every time I open a new position, I pull up this record and remind myself: 'if you act recklessly again, you’ll cut your hands' — losing money is not scary; what’s scary is not learning from it.
Giving up is not losing; it’s leaving a way out for yourself
During the LUNA crash in 2022, when I was down 15%, I decisively liquidated my position and avoided a subsequent 99% drop. Later, someone said I 'lacked vision,' and I laughed and said, 'Only those who can hit the brakes at the ICU door have true vision.' The first rule of survival in the crypto world: being alive gives you the chance to recover your losses.
The secret to making money lies in 'not operating'