1. The beginning: It’s not courage, but 'tightening the pockets' in a desperate situation.
In 2016, I was clutching the remaining 50,000 yuan, staring at the Bitcoin candlestick charts all night without sleep. At that time, one Bitcoin was 6,000 yuan, enough to buy a little over 8. When I clicked 'buy all,' my hands shook violently—this was not a gamble, but a last-ditch effort after bankruptcy.
But unlike many people, I come from a small business background, and 'preserving capital' is an instinct ingrained in me. Even when my account multiplied several times in a bull market, I adhered to a strict rule: take back the principal first from the profits. For example, if it rises by 50%, I withdraw the principal and leave the profits to float. What was the result? Later, many altcoins collapsed by 90%, and I managed to avoid the pitfalls thanks to this bit of 'caution.'
2. Blood and tears lesson: The market is specialized in treating stubbornness, but it can't cure those who are 'afraid of death'.
In the 2018 bear market, I witnessed my account drop from 800,000 to 180,000. That day I smoked half a pack of cigarettes and finally understood: numbers are虚的; only when you click withdraw is it truly yours.
From then on, I became completely 'abnormal':
Don't touch what you don't understand: When IEOs were booming, a friend mortgaged his house to invest, but after reading the white paper, I found that many projects hadn't even implemented their code, so I gave up. Later, these projects crashed and ran away, and I was glad to have avoided a disaster.
Position management trumps everything: BTC and ETH account for 70% of my positions, and I only risk the remaining 30% on potential projects. Last year's bear market saw many people retreat by 50%, but my maximum was only 12%—it’s not that I can pick coins, it’s that I dare to hold cash.
3. My core mindset: Making money relies on research, losing money relies on greed.
Many people think the crypto world is a casino, but I feel it is more like a slaughterhouse: it’s a contest of who can take more hits.
I studied the technology six months in advance: Before Layer 2 became popular in 2021, I thoroughly understood SKALE's testnet data and technical documents, and after heavily investing, I made tens of millions in returns. It wasn’t luck; it was because I truly understood its scalability solution.
Rejecting FOMO: No matter how fierce the community's calls are, I only trust my own judgment. A coin that rebounds sharply may be speculative; those with real potential often have more stable fluctuations.
4. Emotional control: The worse the market, the calmer I become.
Recently, Bitcoin dropped from 126,000 to 94,000, and the community wailed, but I was compiling my buying list every day.
Why? Eight years in crypto taught me: Bull markets are for cashing out, bear markets are for accumulating.
Stop trading after three consecutive losses to avoid emotional trading;
Withdraw the principal after profits exceed 50%, and continue to gamble with the profits;
A coin that has been in a sideways trend for a long time may be accumulating power; focus on those with solid fundamentals and wait for an explosion.
There are no myths in the crypto world, only 'survivors'. Those who post account screenshots won’t tell you how many times they've been wrecked. The real winners are not the ones who bet right on the market, but those who survive to the next bull market.
If you are still chasing prices up and down, why not change your mindset: consider being 'afraid of death' as an advantage, protect your principal, and wait for the wind to come.
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