Born in '85, 40 years old, with a net worth of 20 million. I have navigated the crypto market's bull and bear phases using 8 iron rules.
Born in '85, now 40 years old.
I've been in the market for over a decade, starting with a few tens of thousands in capital, and now my net worth has surpassed 20 million.
Along the way, I have witnessed countless people becoming rich, going bankrupt, and losing everything…
I myself have stumbled, endured bear markets, and missed wave after wave of opportunities.
Looking back, these 8 iron rules are the foundation that has allowed me to survive and continue to thrive:
1️⃣ Only use idle funds to participate
The money used to enter the market must be funds that won’t be needed in the short term. Living expenses, mortgage payments, and retirement funds must not be touched. Losing money should not affect your living; only then can you maintain the mindset to wait for opportunities.
2️⃣ Strictly set stop-loss lines
Every trade must have a stop-loss set; cut losses at 10%-15% immediately. Small losses are not scary; deep losses are fatal. A stop-loss is not cowardice; it is a lifeline.
3️⃣ Refuse leverage and contracts
Leverage can double your money overnight, but it can also bring you to zero overnight. During extreme market conditions, the risks are ten times what you imagine. If you want to last longer, stay away from it first.
4️⃣ Do not chase highs or panic sell
The market is often at a high when it is the most bustling, and the most panic is actually an opportunity. Build your own judgment instead of dancing to the rhythm of price emotions.
5️⃣ Prioritize position management
Do not exceed 30% position in a single coin, and never operate with a full position. Keep some bullets in reserve to take action when opportunities arise, rather than watching them slip away.
6️⃣ Do not blindly trust 'insider information'
The so-called 'insider information' you hear is likely a trap set for you by others. Do your own research, focus on the fundamentals, and do not get led by stories.
7️⃣ Learn to take profits
The biggest enemy when making profits is greed. Set clear targets (doubling, +50%, etc.) and take profits in batches. The thrill of a roller coaster ride is not a way to make money.
8️⃣ Control your emotions
Do not rush to double down when losing, and do not inflate and open positions recklessly when winning. Staying calm is the most scarce ability of a trader.
These 8 rules are not trading skills, but the path to survival.
Many people lose not because they cannot read the market, but because their mindset, position, and discipline all collapse.
Remember, the crypto market is not lacking in opportunities; what it lacks is you surviving until the opportunities come.
Want to know how I used this set of iron rules to steadily grow my assets during the bear market?
Follow me for the next article, where I will share the details of my real trades.
