Staring at the market for 8 hours a day, accumulating 5000 hours over two years, that is the true depiction of a trader.
Do you remember when I first entered the cryptocurrency world? I used to stare at the K-line charts of hundreds of coins every day, trying to find that 'secret signal' that could make me rich overnight. What was the result? In less than three months, my capital shrank by 60%.
Later, I met Old Wang, a trader who had been in the cryptocurrency world for ten years. He showed me a thick notebook filled with daily market analyses, operation summaries, and insights. He said something that I still remember vividly: 'In this market, smart people often die quickly, while those willing to put in 'dumb effort' can survive and make money.'
The truth behind 5000 hours
The story of the legendary trader 'Bitcoin King' who watches the market for 8 hours a day, accumulating 5000 hours in two years, is widely circulated in the circle. But many people misunderstand its essence — the key is not the length of time, but the methodology.
When I first started trading, although I spent a lot of time watching the market, it was all ineffective labor: frequent trading, chasing highs and cutting losses, emotional trading. True 'clumsy effort' is systematic and purposeful accumulation.
Lao Wang taught me that effective market observation is not about watching price fluctuations, but analyzing the logic behind candlestick patterns. For example, when the price breaks through a key position, does the trading volume support it? Is the market sentiment one of fear or greed? These details determine the success or failure of a trade.
Review: The path to mastering trading skills
Now, after the market closes every day, I do four things; this is also the review method I summarized from my losses:
Marking key positions: mark support and resistance levels on the candlestick charts of mainstream cryptocurrencies, recording changes in trading volume. A real rise is when price increases with volume, while a sudden increase in volume during a decline may indicate panic selling.
Reviewing operational psychology: asking myself several sharp questions: Was the entry a momentary impulse or according to plan? Was the stop loss effectively executed? Is the profit due to skill or luck?
Linking events with fluctuations: compare major events of the day with candlestick fluctuations to find causal relationships. For example, after a policy is announced, does the market reaction appear immediately or is it delayed?
Weekly summary of patterns: spending 2 hours each week to summarize patterns is much more reliable than blindly following the 'quotes from big shots'.
This method seems simple, but very few people persist. Most people prefer to look for the 'secret to success' rather than doing this tedious foundational work.
The essence of watching the market: less is more
When I first entered the industry, I thought that watching the market meant capturing every fluctuation. As a result, I was not only physically and mentally exhausted, but my account was also shrinking. Later, I realized that the core of watching the market is 'waiting' — waiting for those high-probability trading opportunities to appear.
Effective market observation only requires attention to three core points:
Volume-price relationship: When the price rises but the trading volume shrinks, this is a signal of false growth; when the price falls and the trading volume shrinks, a rebound may be imminent. Divergence between volume and price is one of the most important risk signals.
Cryptocurrency correlation: When BTC rises, do mainstream coins follow? If BTC rises while other coins fall, it indicates that market sentiment is not optimistic; it’s best not to easily buy small coins at this time.
Breakthrough validity: The first breakthrough of resistance is often unreliable; I will wait for a retest to confirm that it does not break before entering. This 'secondary confirmation' may miss some profit but significantly increases the winning rate.
Position management: The first rule of survival
The key to surviving in the cryptocurrency world is not how many times you caught a bull market, but how to manage risk. I once witnessed a friend lose everything due to a high-leverage contract collapse during the crash in May 2024.
Now, I strictly follow two principles of position management:
Do not exceed 20% of a single cryptocurrency position: even if you are optimistic about an asset, do not invest heavily.
Single trade stop loss not exceeding 2% of the principal: this way, even if there are consecutive losses, there is still a chance for recovery.
Position management is essentially mindset management. When I no longer try to achieve financial freedom through a single trade, my trading becomes more stable, and my returns become more sustainable.
The compound interest effect of clumsy effort
What is most fascinating in the cryptocurrency world is not the myth of overnight wealth, but the effect of compound interest. Those seemingly small progressions can yield astonishing results over time.
As Lao Wang often says: 'Slow is fast, less is more.' When you no longer pursue quick wealth, but focus on the quality of each trade, wealth will naturally accumulate.
Some people make quick money by gambling but soon lose it back; some admire the achievements of 'Bitcoin King' but are unwilling to spend an hour on reviews. True traders understand that there are no shortcuts in this market, only the accumulation of skills over time.
Now, I insist on reviewing for an hour every day, optimizing one trading habit every week, and ensuring the safety of my capital every month. This seemingly 'clumsy' method has allowed me to maintain stable returns during past bull and bear market transitions.
Conclusion
The legends of the cryptocurrency world are built through 'endurance' and 'practice'. If you are willing to calm down and seriously study the logic behind each candlestick, and strictly control the risk of each trade, then the market will surely give you the returns you deserve.
The essence of trading is not to predict the future, but to do well in the present. In this market full of temptation and risk, may we all be able to maintain patience and use 'clumsy effort' to find our own path to stable profits.
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