I entered the cryptocurrency world in 2018, when the market was like a wild casino, with no one teaching the rules, relying entirely on real money to buy lessons. In the early years, I only had 10,000 as capital, but I insisted on learning 'diversifying risks', buying 5 coins, only to find that I didn't even see the project team's exit announcement, and I lost half of my investment. I stubbornly held through the bear market, and when my account shrank by 80%, I almost clicked to uninstall the APP and leave completely. Looking back now, if I had understood these few iron rules earlier, I could have at least lost 80% less.
1. Capital management: Don't spread your bullets like sesame seeds.
I used to think that 'don't put all your eggs in one basket' was the truth, but I didn't even notice when the basket had holes. With a capital of under 100,000, I now stubbornly focus on 1-2 coins for in-depth research. For example, when I previously invested in SOL, just going through its developer documentation and ecological progress reports took two weeks, and fluctuations of 30% didn't shake me at all—because I knew it was worth that price.
Looking back at the early years, with a principal of 200,000, I bought 4 coins, and I couldn't even keep up with the project updates. Once, a key technical member of a certain coin's team left, and I only found out the next day; the price had already dropped and vanished. Now, in a bear market, I only keep 5% of my position to test the waters; if I lose, I pull out immediately. I will never stubbornly hold on.
Key point:
Small funds concentrate firepower, while large funds should consider diversification (but don't exceed 5 coins).
In a bear market, positions should not exceed 5%; surviving is more important than making quick money.
2. Stop-loss and take-profit: discipline is a lifesaving rope.
The most painful moment for me was when Dogecoin soared from $0.1 to $0.3 and I didn't sell, fantasizing about doubling my money. In the end, it plummeted back to $0.08, wiping out all my unrealized gains. Now, I set an 8% stop-loss line for every trade, and if I make 20% profit, I adjust the take-profit line above the cost line to at least lock in profits.
Last year, when trading ETH, I cut my position as soon as it broke the stop-loss line, preserving 80% of my principal. The crypto market is highly volatile, but 'not being greedy for the last point' is what allows you to survive as an old hand.
3. Buying the dip is a skill, not a test of courage.
Two years ago, a coin dropped 70%, and when I saw the K-line, I thought it was the bottom, so I went all in to buy the dip, but it dropped another 30%, and I was stuck for half a year before getting out. Later, I understood that a large drop does not mean it is the bottom; you have to look at whether the team is working and if there are real users in the ecosystem. Otherwise, buying the dip is like catching a falling knife.
Now my strategy is: allocate 60% of my position to BTC/ETH as a ballast, and 40% for short-term trades. In a bull market, it's about mindset; in a bear market, it's about discipline. I will never make impulsive trades due to FOMO.
4. Less trading, more thinking.
In the past, I traded 5 times a day, and the fees ate into my profits. Now, I only trade once a week, spending most of my time monitoring project progress and on-chain data. Frequent trading is the main reason retail investors lose money.
For new projects launching, don't rush in; first, look at three things:
Is the team real-name verified and reliable in background?
Does the token economic model have malicious selling pressure (like massive unlocks)?
Is the community genuinely lively or just bots inflating the numbers?
5. There are no gods in the crypto world, only survivors.
Some people boast about 'hundred-fold secrets,' but the truth is that success comes from making fewer mistakes. I've seen too many people get liquidated on contracts, chasing highs and lows, ultimately going to zero. Now I only believe in two principles:
Don't mess with leverage (contracts are like casinos; the house always wins).
Regularly withdraw profits into stablecoins or BTC; securing profits is what truly matters.
After 7 years, my biggest realization is: making money in the crypto world does not rely on intelligence, but on restraint. Newbies should follow the above few points to at least avoid 80% of the traps I fell into. Remember, the market is always there, but the principal is not.
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