On that stormy night in 2017, I maxed out my last credit card, gathering 30,000 to rush into the exchange. The altcoin K-line on the screen was like a mad dog; my heart raced when it rose, and my hands trembled when it fell. Three months later, my principal of 300,000 was left with only 2,700; my wife uninstalled my trading software and threw it at me, saying: "If you keep trading coins, we’re done."
Now with my account steady at 7 figures, I often think back to that rainy night. The pitfalls I encountered over the past 10 years are enough for newcomers to avoid for three years. What I'm sharing today are all "foolish methods" — no indicator formulas, just survival rules ingrained into my being, repeated until they form muscle memory, proving more effective than any "get rich quick scheme".
1. Mindset is 1, technique is 0: first learn to control your hands, then talk about making money.
1. Those who chase after rises are all chives; buying at the bottom requires waiting for it to "be stable".
The foolish act of chasing that altcoin in 2019 is something I can remember for a lifetime. It rose from 5 to 8 dollars, and people in the group were flaunting their profits every day. I impulsively jumped in, only for it to drop back to 6 dollars the same day, and I was stuck for half a year before cutting losses. I later understood: the real buying point is when it retraces to a key support level (previous lows, 5-day line) without breaking below.
Just like last year when BTC was at 40,000 and I waited three days for it to stabilize at the 5-day line before acting, even though it was 3,000 lower than the "highest point", it was still better than standing guard at the peak. Now I see people in the group shouting "skyrocket, hurry in"; I just scroll past — truly valuable coins won't rush to let you take over. 2. Fidgeting is the number one killer; put a "stop trading sign" on the table. Once, BTC was at 40,000 and I knew it wasn't time to buy, but I impulsively bought 10,000, resulting in a 5% drop. When I cut my losses, I slapped myself twice. The next day, I placed a wooden sign on the table that read "Don't act without a signal". A year later, this sign helped me block over 30 bad trades.
The market lacks opportunities; what's lacking is the ability to hold still. Just like fishing, those who keep pulling the rod all day will never catch big fish. 3. Don't think about "recouping all at once"; earning 8% each month is enough. I've seen too many people who, after losing, go all in, only to lose more. I now set a fixed target for myself: 8%-10% monthly, which compounds to more than double in a year. A student I taught last year started with 50,000 and followed this rhythm, rolling it to 30,000 in half a year, while friends who chased "doubling coins" only had 20,000 left from the original 50,000.
Slow is fast; this is the most counterintuitive truth in the crypto space.
2. Timing is more important than the coin: There are no bad coins, only people who buy at the wrong time.
1. For the same coin, buying at the right time is ten times more effective.
ETH was 880 dollars in November 2022 and 2100 dollars in April 2023. The coin is still the same coin, but the timing is different, and the results are worlds apart.
I currently only look at two signals when selecting coins: either it has been consolidating at the bottom for more than 3 months (the main force has absorbed enough stock), or it has just broken through a key resistance level (the trend has arrived). Last year, SOL consolidated at 100 dollars for half a year; after I entered, it rose to 200 dollars in 3 months. This is the power of timing. 2. When the trend is downward, your persistence is foolish. In 2021's bull market peak, my altcoins dropped 10%, and I always thought "it can still rise", holding on until I lost 60%. Now, as long as the weekly MACD shows a death cross, regardless of how optimistic I am about a coin, I reduce my holdings by 80%.
The trend is the best friend and also the fiercest enemy. When it is downward, holding on is like breaking eggs against a rock.
3. Simple methods implemented: Repeating simple tasks makes you a master.
1. You can grow 5,000 into more; the key is "small steps, steady walk".
I once taught a student who opened a supermarket; he started with 5,000 and used the "5% drop to reinforce, 10% rise to take profit" foolish method. He said: "I used to think I couldn't do much with little money, but later I realized that earning 50 every time, repeated 100 times, is enough to break even."
Having little capital is not a disadvantage; it means lower trial-and-error costs. Just like learning to drive, first learn to brake with a trainer's car, then you can drive a sports car without crashing. 2. Frequently changing coins equals busywork; sticking with one will gain slowly. In 2020, I had 3 coins, changing them daily, and spent 8,000 in fees, but the profit was not enough to cover the fees. Later, I focused on holding DOT, buying at 5 dollars and selling at 30 dollars, recovering all my previous losses.
Trading coins is like farming; once you select good seeds, you must wait for them to grow. If you change plots every day, you won’t harvest anything. 3. Sell high and buy low to reduce costs; don't guess rises and falls, just respond. My operation sheet is very simple:
Find buying points on the daily chart (for example, BTC at 40,000).
Reinforce positions during a 4-hour pullback (buy once when it drops to 38,000, cost becomes 39,000).
Sell half after a 10% rise (sell half at 42,000, remaining cost becomes 36,000).
This way, even if it drops back to 38,000, I still make a profit. Don't guess tops and bottoms; just let the cost keep going lower; this is the survival strategy for retail investors.
The last 6 life-saving rules, remember them well:
Don't blame the market when you lose: every time you incur a loss, first write down the "review questions" — Why did I buy? Did I set a stop loss? How to change next time? I have noted down 107 mistakes; reviewing them helps me make fewer mistakes.
Good habits are more powerful than anything: review for 10 minutes every day, summarize strategies weekly, clear out junk coins monthly. These tasks seem small, but if you persist for 3 months, your account will quietly grow.
Don't treat trading coins as gambling: treat it like business, calculate costs, risks, and profits, and only proceed if it's worthwhile.
Compound interest is frightening: with 50,000 as principal, earning 50% annually leads to 390,000 in 5 years; earning 100% annually leads to 1.6 million in 5 years. Don't underestimate "earning slowly".
Sell when it's time to sell: don't wait for the "highest point"; selling at 80% of your expectation is okay; cash in hand is still money.
Be cautious even in favorable conditions: it's easiest to get carried away when making money, so you must reduce your position by 30% to lock in profits. Last year at the peak of the bull market, I used this trick to preserve 60% of my gains.
Brothers, these rules may seem "foolish", but they are survival laws filtered by the market. I've seen too many smart people who understand various indicators but can’t resist fidgeting and waiting, ending up with huge losses; I've also seen many ordinary people who, with just these few foolish methods, slowly grow their accounts.
The essence of trading coins is not about who is smarter, but about who can repeat and do simple tasks earnestly. Memorize these and look at them daily; after half a year, you will find: you are no longer anxious, your account is stable, and making money really isn't that hard.
Finally, I want to say that the most precious thing in the crypto space is not the legend of "overnight wealth", but the patience to practice "foolish methods" to perfection. Just like how the author rolled the 2,700 from that stormy night into a 7-figure account, relying not on complicated indicator formulas, but on the ingrained rules of "don't act without a signal", "earning 8% per month is enough", and "holding onto one for gradual growth" — these seemingly simple actions, repeated until they form muscle memory, prove more effective than any "get rich quick scheme".
Too many people think "trading coins relies on cleverness", yet forget that the market favors "rule-abiding fools": those who chase after rises are always on guard, while those who can "wait until it's stable before buying" can pick up bargains; those who fidget and operate blindly end up paying high fees, while those who have a "stop trading sign" can block over 30 bad trades; people who change coins every day are just busywork, while those who focus on holding one can eventually double their investment.
If you are still panicking over "buying and it drops, selling and it rises", if you keep cycling between "chasing hotspots" and "holding losses", if you want to know how to turn 5000 into more, how to operate "buy high, sell low" specifically — why not save these rules in your phone's memo and read them every day? Don't rush to double your investment, first practice "controlling your hands", "waiting for signals", and "slowly earning" these three tricks. After half a year, you will find: your account is steady, you are no longer anxious, and making money really isn't that hard.
The money in the crypto circle never goes to those who are "eager to prove themselves"; it only goes to those who are "willing to endure slowly". By repeatedly doing simple things earnestly, you have already outperformed 90% of retail investors.