$ZEC 2018 Christmas Eve, in a rented room in Shanghai, I stared at the screen as Bitcoin plummeted, my hands shaking.

In just three days, my account went from a floating profit of 4 million to only 700,000 in principal.

Three days ago, I thought I had touched the threshold of financial freedom with $UNI; three days later, 400,000 in principal along with the year's profits were completely swallowed by the market.

At that moment, I understood what it means to be “rich on paper, turned to ashes in fire” with $ALLO.

After ten years of ups and downs in the cryptocurrency world, I clawed my way back to ten million assets with three hard-earned rules from 700,000. These rules seem simple, but each one is a lesson paid for with real money:

First, leverage is a knife, not wings.

20x leverage once allowed me to net 500,000 in a single day, but during those two hours when the “924” regulation was introduced, I almost went to zero. Now my trading interface is forever locked to 3x leverage, with any single coin position never exceeding 5%. This is not cowardice, but understanding: surviving gives you the right to talk about making money.

Second, mainstream coins are the ballast. I once put 300,000 into a so-called “hundred times” altcoin, watching a profit of 1.8 million evaporate without timely profit-taking, ultimately leading to the project going to zero, and my funds being completely uprooted. Now 85% of my funds are anchored in mainstream coins like BTC and ETH, with only 15% daring to touch new coins. Maintaining the fundamentals allows you to stand firm during volatility.

Third, stop-loss is a lifeline. In the past, I would stubbornly hold and average down after a 15% drop, ultimately losing half a house. Now, I set a hard stop-loss of 8% in advance for every trade, and I run without hesitation if it hits. A drawdown exceeding 8% likely means I made a wrong judgment; recognizing mistakes in time is crucial to preserve the principal for recovery.

The market never lacks opportunities; what it lacks is the capital to survive until opportunities arise.

My ten million account is not for show; it is the “interest” from adhering to these three iron rules for ten years.

In a highly volatile market, living longer is much more important than making money quickly.

In the past, I stumbled alone in the dark; now the light is in my hands.

The light is always on, will you follow? @华莱士薯条