In the cryptocurrency world, not being harvested and protecting your principal has never been about luck, but rather about respecting risks and adhering to discipline. The following eight suggestions may seem simple, but they are lessons learned by countless people at the cost of real money. Remember them, and they can help you avoid most traps:
1. Don't dream of getting rich quickly
The more you long for an overnight turnaround, the more likely you are to be driven by greed. 90% of the 'get rich quick opportunities' in the crypto world are backed by scythes; clarity is more important than fantasy.
2. Invest small amounts in batches
Do not bet all your funds at once. Diversify your investments and stagger your purchases; even if you incur a loss on a single transaction, it won't fundamentally harm you. Risk diversification allows you to last longer.
3. Be more cautious when making profits
Even if you earn over 20,000 a month, do not let your guard down. The market can change at any time; a single blind heavy investment can wipe out all previous efforts. Steady progress is key to longevity.
4. Always set a stop-loss for contracts
Do not believe in 'holding to break even.' Set a stop-loss in advance, and exit if it is triggered—this is not about cutting losses but rather the last line of defense against liquidation.
5. Be patient and wait for trends to settle
After buying, there is no need to constantly monitor the market. Valuable coins need time to grow, and trends require space to unfold. Frequent changes in positions and eagerness to succeed often lead to chaos.
6. Understand the nature of zero-sum games
Every penny you earn comes from someone else's loss. Do not always try to take the last bit of profit; taking profits at the right time can help you avoid becoming the one being harvested.
7. Only invest spare money
Never borrow money, take out loans, or divert living funds. Investing spare money keeps your mindset stable and prevents you from making emotional decisions due to 'desperation to recover losses.'
8. Only choose valuable coins during a crash
Do not touch worthless coins, no matter how cheap they are. However, if a fundamentally sound coin is mistakenly hit hard by the market, when it has dropped significantly (around 10 times), consider a light investment and wait for the cycle to return.
Do not mistake luck for skill; otherwise, the market will eventually teach you a lesson. I have also been scarred by blind operations until I later realized: waiting with no position sometimes takes more courage than frequent trading.
Do not be greedy, anxious, or restless; only then can you walk steadily and far in the cryptocurrency world.
