As a veteran who has been navigating this industry for eight years, I have seen too many people come in with the dream of 'turning their fortunes around,' only to leave with losses. Whenever I hear someone say, 'If only I had entered the cryptocurrency market earlier, I could be financially free by now,' I can't help but laugh—this kind of fantasy is the most delicious tender leek seedling.
The current cryptocurrency market is no longer the rough and tumble era of the past. Institutional capital, equipped with quantitative algorithms and professional teams, has entered the arena, and the harvesting methods are more precise and ruthless than ever before. For ordinary people to turn their fortunes around here is not impossible, but the path is certainly not what you might think.
One, cognitive trap: when luck disguises itself as strength.
When I first entered the cryptocurrency world, like all novices, I threw in a little money to test the waters. At that time, the market was highly volatile, and casually buying a coin and holding it for a few days could yield profits. I was trading contracts with low leverage, and earning a few dozen or a few hundred U made me incredibly happy.
In hindsight, it was not that my skills were that good; it was purely the market giving me face.
The most dangerous illusion in the market is mistaking a bull market for personal strength. I remember at that time I operated based on some superficial technical indicators, and surprisingly, my win rate was quite good. This led me to the illusion: 'I have mastered the rules of the cryptocurrency world.' So I began to increase my investment, even feeling a bit high, thinking I might be a natural trading genius.
This false confidence ultimately led to an inevitable outcome.
Two, first liquidation: stop-loss is not cutting losses, but saving your life.
In 2020, I experienced my first major liquidation.
At that time, the market continued to rise, but I stubbornly believed it would soon correct, so I heavily shorted. As a result, the market showed no mercy and kept rising. When I started to incur losses, I thought, 'I have weathered this before,' and kept adding margin to hold on.
Losses ranged from hundreds to thousands of U, and my mindset completely collapsed. In the end, I panicked and closed my short position to chase the long, thinking, 'I'll stop once I've earned back my losses.' As a result, the market began to correct right after I went long, plummeting within a few hours, ultimately triggering my forced liquidation.
At that moment, I stared at the screen, my hands and feet icy cold.
Looking back at this liquidation, I realized the first truth: stop-loss is not admitting defeat, but a guarantee for survival. We always see stop-loss as 'cutting losses,' but this notion is terribly wrong. True trading experts do not make money by predicting the market but by controlling losses to survive.
Position management determines your mindset stability. When I later set the rule of 'individual position not exceeding 10% of total capital,' I found that my decision-making quality significantly improved, because a single loss no longer affected my overall judgment.
Three, the trap of greed: don't take 'money not made' as 'money that should be made.'
After my first liquidation, I was lucky and caught a rally of a Meme coin. With a principal of 500 U, through rolling operations, it peaked at nearly 30,000 U, equivalent to several years' salary at that time.
Once a person easily achieves success, they will develop an illusion: this is what they deserve.
At that time, I fell into this trap of greed, setting an unrealistic goal for myself: 'Once I earn 1 million U, I will stop.' As a result, when the market corrected, not only did I not take profits, but I kept adding positions, thinking, 'Just a little more profit would be good.'
In the end, not only did I lose all my profits, but my principal was also cut in half.
During this stage, I realized the second truth: the biggest trap in the market is not loss, but the obsession brought by greed. Many people unconsciously treat 'money not made' as 'money already lost,' and this mindset can trap you in a vicious cycle of 'urgently wanting to recover losses.'
Four, transformation: from gambler to trader.
After consecutive liquidations, I gave up the fantasy of 'quickly turning my fortunes around' and began to calm down and study the essence of the market.
I found that the opportunities in altcoins lie not in blindly following the trend, but in finding those with regular patterns. For example, some coins maintain a negative funding rate for a long time, which provides an extra margin of safety for going long. More importantly, the control traces of these coins are often quite obvious; as long as you understand the rhythm of the main force, you can find relatively certain opportunities.
So I established my own trading system:
Only engage with altcoins that have regular patterns, avoiding those that have already been excessively speculated upon.
Strictly manage positions, with individual varieties not exceeding 10% of total capital, and set stop-loss lines at 8%-12%;
Reject 'big picture' thinking; take profits in batches when short-term gains reach 15%-20%.
This strategy gradually led me from losses to stable profits.
Five, can ordinary people truly turn their fortunes around in the cryptocurrency world?
After eight years of ups and downs, I can tell you clearly: there are indeed people in the cryptocurrency world who have achieved wealth leaps, but these people did not rely on luck or all-in bets, but on a sound trading system, strict risk control, and stable mindset.
If you are still holding onto the idea of 'quickly turning your fortunes around through cryptocurrency,' I advise you to exit as soon as possible—gambling-style entry will ultimately only make you a target for being harvested.
But if you are willing to settle down and learn, treating cryptocurrency investment as a serious business to run, this market will indeed give you corresponding returns.
The cryptocurrency world does not create wealth; it merely transfers it. The question is whether you want to be the one transferring or the one being transferred.
Finally, I want to give you a piece of advice if you are still struggling in the cryptocurrency world: in this market, surviving longer is more important than making quick profits. Stable small profits far outweigh the big ups and downs of gambling. When you let go of the obsession with 'turning fortunes around' and focus on trading itself, wealth might come to you unexpectedly. Follow me to learn more first-hand information and insights into cryptocurrency, becoming your guide in the cryptocurrency world; learning is your greatest wealth!\u003ct-92/\u003e\u003cc-93/\u003e
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