Self-discipline and reviewing are more reliable than luck.
A few days ago, I had tea with a sister in the circle; she has been trading cryptocurrencies with her child for ten years, rolling from 10,000 to 5 million USD. I thought she had some mysterious insider information, but she laughed and said: 'There are no secrets. It's just about embedding self-discipline into your bones and treating reviews like eating and drinking.'
I broke down her words and summarized a few grounded rules. Whether you're a novice or an old hand, perhaps you can gain some inspiration.
1. Capital management: Survive to laugh last.
Sister Zhang's exact words are: 'A day in the cryptocurrency world is a year in the human world; the myth of getting rich quickly is everywhere, but those who survive are the real winners.'
Divide the principal into five parts; only take one part for operation each time, equivalent to 'always keeping four bullets for replenishment.'
If a single loss exceeds 10%, cut it off; total capital drawdown must not exceed 2%.
She once made four mistakes in a row, with a total loss of only 8%. Later, she turned the tables with a Bitcoin swing trade: 'If you lose, lose with understanding; if you earn, earn solidly.'
This 'turtle-speed strategy' may seem conservative, but it has allowed her to withstand multiple black swan events during extreme volatility. After all, the cryptocurrency world is not short of opportunities, but it lacks capital.
2. The trend is your friend; don't fight against it.
'Bottom-fishing in a downtrend is like catching flying knives with bare hands—looks cool but easily pierces the palm.' Sister Zhang's reverence for the trend is almost stubborn.
Only enter the market when the 30-day moving average turns; give up on the fish head and tail, and only eat the fish body.
Last year, Bitcoin was in a downtrend; many called for bottom-fishing, but she stood still: 'When the trend breaks, patience is more important than courage.'
Never touch coins that surge wildly: 'The crazier the rise, the harder the fall.' Recently, a certain altcoin doubled in three days; when the sisters in the group asked her, she shook her head: 'You covet its returns, but it covets your principal.' It later dropped by 60%.
3. Technical indicators are tools, not the Bible.
Sister Zhang simplifies complex indicators and focuses on two: MACD and trading volume.
MACD: A golden cross below the zero line means trying with a small position, and a death cross above the zero line means taking profits in batches. 'Indicators are signposts, not the destination.'
Trading volume: A true signal is a breakout from the moving average on low volume. For example, when Ethereum was at 2800 USD, it surged in volume, and she followed in and made 30%. 'Volume is water; candles are boats; as the water rises, the boats float higher.'
Only add to positions when in profit; stubbornly holding onto losses? She said: 'That's suicide; don't mistake luck for courage.'
4. Review: The dividing line between experts and newbies.
What I admire most about Sister Zhang is that, after being exhausted from taking care of her child, she still diligently reviews her trades. Her 'Daily Three Questions':
Is the buying logic still valid? (For example, has the fundamental analysis you initially believed in deteriorated?)
Where did it go wrong? (Is it due to emotional excess or strategy failure?)
Has the weekly K-line trend changed? (The larger cycle sets the direction, the smaller cycle finds the entry points.)
'Experts don't predict; they correct mistakes.' She pulled out notes from years ago, densely recording the mindset and mistakes of each trade: 'Reviewing is not about regret; it's about making mistakes valuable.'
5. Mindset management: Refuse greed, accept imperfection.
Don't delay stop-loss: She set an automatic stop-loss order to eliminate manual intervention: 'Letting emotions dictate is poison to the account.'
Don't dwell on missed opportunities: 'The cryptocurrency market is open 24 hours, and the biggest fear is to panic sell because of missing out.'
Resting is more important than stubbornly holding on: During consecutive losses, she would stop and take a walk with her child: 'Being in cash is not cowardice; it's the highest form of waiting.'
Sister Zhang's methods seem like common sense at first glance. But the difficulty lies in maintaining discipline after staying up all night with children and not forgetting the original intention amidst wild market fluctuations.
She finally took a sip of tea and said: 'What secrets are there? It's just about repeating simple tasks and doing them seriously. The market rewards not the smart, but the honest person who can control their impulses.'
If you feel like the market is always slapping you in the face, maybe you should try: watch the market less, review more; gamble less, diversify your positions. The road in the cryptocurrency world is long; surviving is key to waiting for your bull market.
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