In ten years in the cryptocurrency world, I've seen too many people come in wanting to get rich overnight, but in the end, they all become just numbers on someone else's balance sheet.
To say something unpleasant - if you can last ten years in the crypto world, you have already surpassed 95% of people.
Over the years, I have endured from liquidation, debt, and despair to currently stable profits. What I summarize is not theory, but eight survival rules that I bought back with money.
If you can really understand three of these rules, you could be considered half a step into the expert zone.
1. Don't have too many coins, don't mess up your positions, the simpler it is, the more profitable it becomes.
People with an account of less than 100,000 like to buy seven or eight cryptocurrencies.
As a result, when the market moves, you are not making money, you are putting out fires everywhere.
Remember: Concentrated firepower has lethality.
2. The market only has one father: the trend.
Don't think about shorting when it rises, and don't think about bottom fishing when it falls.
The trend does not recognize you, does not care about you, it only crushes you.
Follow the direction, not the emotions.
3. Opportunities are not available every day, most market movements are just wasting your time.
When the market is quiet, the more anxious you are, the faster you lose.
Real big money only appears when the market is frenzied.
Other times?
Wait. Endure. Don't move randomly.
4. Stop-loss is a lifesaver, not a shame.
Many people do not lose in the market, but lose in hesitation.
Want to run when you earn a little, but endure when you lose a little.
In the end, the account is worn out.
Remember: Stop-loss is the price of survival.
5. Be aggressive when buying, and even more aggressive when selling.
Hesitation will make you miss the market.
But procrastination will make you doubt life.
The only common point among experts is:
Decisiveness.
6. Before adding to your position, ask yourself: If I had no position, would I buy?
If the answer is not 'it will definitely happen',
Then you are not adding to your position, you are filling a hole.
Adding to your position until the end, when the position explodes, people also explode.
7. Those who stare at short-term trades every day eventually become the market's workers.
The more you want to act frequently, the more the market will teach you a lesson.
Those who truly make big money rely on:
Seize the trend and hold on tightly.
8. Bottom fishing is the most expensive hobby in the crypto world.
Bottom fishing six times, five times is halfway up the mountain.
Bottom fishing until the end, you can only end up wiping out your account.
Trend down, don't bottom fish; trend up, don't escape the top.
After ten years, I have only one realization:
The crypto world is never about 'who is the smartest to make money',
but 'who can control themselves to survive'.
The road is tough, but every step you take decides whether you can become one of the 20% who survive.
If you don't want to step into pitfalls again, and don't want to be a leek,
Start with these eight points and engrave them into your bones.
—— This is the truth I earned from going bankrupt to turning around, exchanged with blood.
