I am from Hunan, 32 years old and settled in Hong Kong. I've been trading cryptocurrencies for seven years, growing my initial capital of 50,000 from working to 7 million. To be honest, in the 2555 days, I've stepped into all kinds of traps and seen enough tricks. Today, I will lay out six hard-earned rules — understand one, save 100,000 in tuition; follow three, and you will definitely crush 90% of the retail investors in the market.

Six rules to remember:

1. Don't panic sell during rapid rises and slow declines.

When the price of a coin shoots up quickly and then slowly drifts down? Don't rush to cut losses. This is mostly the market maker washing the plate, shaking off those who can't hold on. After the ETH surge in 2019, I almost sold at the bottom; later I realized that the real danger was the guillotine after a surge — that was the trap to lure in buyers.

2. Don't reach out during rapid declines and slow rebounds.

After a waterfall decline, if it rebounds like a snail? Put away the thought of bottom fishing! This clearly indicates the market maker is offloading. During the 2021 Dogecoin wave, I saw too many people shout 'it's dropped to the bottom,' only to be stuck in the last fake rebound, all of whom thought they were clever.

3. Don't be afraid of high volume at high prices, run away when there's dead volume.

If the price is high and volume is still increasing, there might still be potential; but if the high price's volume is stagnant like dead water, you must escape! When LUNA hit $119 in 2022, the trading volume shrank for three consecutive days. That night I sold everything, and it collapsed the next week, going to zero.

4. Don't get excited about unusual movements at the bottom; continuous volume is the real deal.

Suddenly a massive volume after a prolonged drop? They might be playing you. When ETH dropped to $880 last year and the volume surged, I didn’t act. I waited for it to consolidate for two weeks before the volume increased again, entering at $1200, and it doubled in three months. The market maker wouldn't just make one move to build their position, right?

5. Trading cryptocurrencies is about understanding human psychology; don't confuse volume with price.

The candlestick chart is superficial; trading volume is the mirror that reveals the truth. In the 2023 altcoin market, how many people chased prices without looking at the volume that had long disappeared — the price is like a dog led by emotions, but volume is the leash.

6. The word 'none' is the highest level.

Without obsession, you can sit on the sidelines waiting for a critical strike; without greed, you won't chase highs; without fear, you can dare to catch the falling knife. This is not about being zen; it’s a mindset forged by the bear market of 2023 — that year, I stayed out for three months and avoided 90% of the declines, relying solely on this 'none' mindset.

The market has opportunities every day; what’s lacking is the ability to resist temptation.