I truly understood the crypto world after two liquidations.

I entered the market in 2015, only following trends, unable to understand K-lines, and couldn't calculate my positions. After three years, my wallet hadn't grown, but my temper had certainly hardened.

At the end of 2018, $BTC slid from $6000 all the way to $3000, and I thought "it's at the bottom," so I went all in with the last hundreds of thousands in spot trading on a 20x contract.

Three days later, a 12% bearish candlestick kicked me out of the market, and my account was wiped clean. That night, I stared at the ceiling and understood for the first time: entrusting hope to K-lines is less reliable than relying on an ex.

After two weeks of calm, I took out 200U from my credit card, treating it as tuition and as ammunition.

I set three iron rules for myself:

1. Each loss should not exceed 2% of the principal;

2. Withdraw 50% of profits once they reach 10%;

3. Do not open positions in markets I do not understand.

At first, I could only open 30 BTC contracts, and I reviewed each order and took notes.

Half a month later, 200U rolled into 26000U. I was so excited that I treated my colleagues to hot pot, but the next day I had to withdraw 20,000 RMB to pay off my credit card.

Remaining positions were handled with a sense of luck, without stop-loss, and I returned to square one overnight. The second liquidation etched the term "stop-loss" into my bones, more firmly than remembering a breakup with a girlfriend.

On my third recharge, I only took 10,000 RMB, still starting with 200U, but reduced the leverage to within 5 times.

From then on, I no longer added to my principal, nor did I fantasize about getting rich overnight.

I specifically traded in the BTC range of $3000–$14000, repeatedly cutting the cake with a fixed risk-reward ratio of 1:3.

Bear markets are long, bull markets are short, so I dated the bear market:

I worked during the day, set grid trades at night, and reviewed on weekends;

I withdrew cash every time I accumulated 5000 RMB in profit, exchanging it for a steak in the fridge or a book on my desk.

Two years passed, and my account still had that 10,000 principal, but my bank card had gained an extra 2 million.

When friends asked me "what leverage is the most profitable," I said:

"The leverage you can sleep with is the most profitable."

Looking back, the size of the principal and the alternation of bull and bear markets are just noise.

What truly enables you to break out of the liquidation cycle is a replicable trading system and the willpower to move profits out of the exchange.

The market is always there, opportunities are always there; first learn to survive, then talk about making money.@juice13