Family, if your account now only has three digits, your phone is full of debt collection messages, and you feel nauseous looking at the K-line, then you must read this article to the end. I’m not a big shot, just an ordinary person who has been repeatedly ground into the dirt by the crypto world – during the bear market in 2022, I lost from 150,000 U to only 800 U, and even borrowed 50,000 online to average down; at my worst, I had to split instant noodles into two meals.
But now, my account comfortably holds 800,000 U, and I can withdraw 30,000 to 50,000 every month to improve my life. Not relying on the bull market, not on insider information, and certainly not on gambling with leverage, but purely on a 'method that’s extremely foolish': tying myself to the chair with rules, preventing my hands from following my greedy brain.
Let me first explain how I fell into the pit – are you like this too?
I rushed in at the tail end of the bull market in 2021, initially making 30,000 U by luck, thinking I was the chosen one. Back then, I stared at the 15-minute K-line every day, responding to trading messages in the group as soon as they arrived; seeing the words 'hundredfold coin' made me rush in like crazy.
Others said SOL could reach 400; I fully invested at 200 dollars, and when it fell to 30 dollars, I was still averaging down, just because I was 'unwilling' to accept it.
Heard that a new coin was going to be listed, so I mortgaged my credit card and pooled 50,000 U to invest in the new coin, only for it to plummet 90% on opening; that night I sat on the balcony all night.
During the bear market, I kept thinking of 'buying the dip,' splitting the remaining 20,000 U into 10 buys, thinking each time was the bottom, only to end up as cannon fodder under the waterfall.
Until one day I received a notice about overdue online loans, looking at the 800 U balance in my account, I suddenly wanted to laugh – it turned out I wasn’t trading coins, I was just giving money to the market.
The first step to avoiding pitfalls: admit you are an 'ordinary person.'
When I was losing the most, I deleted all the trading groups, uninstalled the tracking software, and spent three days coming to a realization: 99% of the people in the crypto world have no talent; don’t fantasize that you are the exception.
Talented players can watch the market at 3 AM, can spot project loopholes from white papers, and can average down without changing their expression during a crash – I can’t do these things, and you probably can’t either. Ordinary people like us must lock down our weaknesses with 'anti-human rules' to survive.
I set three strict rules for myself, like putting a collar on a rabid dog:
1. Only trade 'vegetables in the market,' don’t touch 'rare delicacies.'
Clear all altcoins from my account, keeping only the two 'familiar faces': BTC and ETH. Just like going to the grocery store, I only go to the stalls I’m familiar with, knowing roughly how much they’re worth, so I won't be deceived.
Each time, only invest 10% of the principal; even if I see a huge opportunity, I won’t increase my position.
If profits exceed 20%, I force myself to withdraw half, transferring it to my bank account for living expenses, and rolling the rest.
Regardless of profit or loss, I only trade once a week; during other times, I work when I should work, and sleep when I should sleep.
2. Install a 'fuse' on your account; run away when it melts down.
I drew a table in my notebook, recording prices every day; once two conditions were triggered, I would immediately liquidate.
If a single loss exceeds 5%, regardless of how much 'bounce hope' there is afterward, I cut it directly.
If I have two consecutive losing trades, I stop for a month, even if I miss the market.
During the crash in March 2023, when BTC fell from 25,000 dollars to 19,000 dollars, I avoided disaster because I triggered the 'stop trading after consecutive losses' rule and stayed out of the market. When I returned a month later, I happened to catch the rebound and made back 5,000 U from the remaining 3,000 U.
3. Make 'waiting' a habit; it’s better than who lives longer.
I used to think 'not trading means missing opportunities,' but later I realized: 80% of the crypto market movements are traps; those who can resist the urge to reach out have already won half the battle.
I set a countdown on my phone: every time I wanted to place an order, I forced myself to wait 48 hours. Many times after two days, the coin I thought was 'sure to rise' had already plummeted.
Last November, when BTC broke 30,000 dollars, everyone in the group was shouting 'the bull is here'; I waited for two days as per the rules, and on the third day it started to pull back. When it stabilized at 28,000 dollars and I entered, I ended up catching the most stable rise.
Now I: don’t watch the market, don’t stay up late, but my account is slowly increasing.
From 800 U to 800,000 U, it took me 18 months. No single trade made me rich; the most I made was 50,000 U, but it was steady.
Monthly profits are generally around 8%-15%, regular like receiving a salary.
In a year, there are 6 months of small losses, but the total loss does not exceed 10% of the principal.
Now I spend 10 minutes every day checking the prices, then spend time with my kids when I should, and work when I should.
In fact, the crypto world is like a swamp; talented players can hop across on stones, while we ordinary people should find a piece of wood to crawl slowly. Don’t envy those 'doubling overnight' stories; when they fall, they might not even make a sound.
If you’re still in the pit now, remember these three sentences:
What can save you is not the market, but the rules you set for yourself.
Slowly making money is not shameful; the shame lies in always wanting to get rich quickly and ending up with nothing for meals.
Surviving is more important than anything else – being alive allows you to wait for the market that belongs to you.
Follow me, tomorrow I’ll talk about how to manage positions using Excel so that beginners can understand whether their accounts are making or losing money. The road to avoiding pitfalls is tough, but as long as the direction is right, every step brings you closer to getting out of the pit.
