In this round of the market, you can't make money; it's not that you can't do it, but the structure has really changed.

Many newcomers to the market have the same feeling:

The index is rising, the narrative is continuous, but you are either being washed back and forth or losing more and more, and if you're not careful, you might even be dragged into 'learning', ultimately becoming someone who helps others with rebates and pays fees.

I will clarify several key understandings of this round of the market.

First, don't live in the illusion of the previous bull market.

In the last round, some people indeed made it with a one-sided bet.

But this round is not that kind of market. Now there are trends but no favorable winds, accompanied by high-frequency fluctuations and repeated washouts.

If you still think about making a direct leap, the result is basically only one—stuck halfway, repeatedly harvested.

Second, the first lesson for beginners is not to make money but to learn not to lose first.

Many people mistakenly believe that their first luck in making money is strength, and then they play bigger and bigger.

What you should really do is protect your capital:

Not fully invested

Not all in at once

Not using high leverage

Not acting at emotional peaks

Only those who can control drawdowns are qualified to talk about profits.

Third, don’t touch coins you don't understand.

The biggest risk in the cryptocurrency world has never been the market but rather cognition.

If you can't explain why it rises, who is buying, where the logic is, or what the ecosystem is, then the money you invest is essentially a donation.

The less you understand, the closer you should stick to the mainstream.

Fourth, don't chase trends.

The most obvious feature of this round of the market is the rapid rotation.

Today it's AI, tomorrow it's the SOL ecosystem, the day after it's RWA, and then it switches to L2.

When you see a certain sector being wildly discussed all over the internet, it often indicates that the main force is ready to leave.

For beginners, the most stable structure is always: mainstays as the base, small positions in altcoins, unless you are truly familiar.