As an old leek who has struggled in the crypto circle for eight years, I've seen too many people become rich overnight and even more who lost everything overnight. Today, I won’t talk about complicated technical indicators or boast about hundredfold myths; I’ll just share the seven survival rules that I earned with real money. If you are new to the circle, please engrave these words into your DNA; if you are already experienced, let’s check our alignment and fill in the gaps!
1. Less fuss, more waiting: Frequent trading is the 'leek harvesting machine'.
When I first entered the circle, I thought not trading every day meant missing out on a billion. What happened? The transaction fees couldn't keep up! The crypto market operates 24 hours a day, but if you trade frequently every day, the fees alone can eat away 36.5% of your principal in a year. Later, I realized that sometimes doing nothing is the smartest choice. The market won't run away; opportunities always favor those who are patient. Remember: ten mediocre trades are not as good as one excellent opportunity.
2. Risk management is crucial: living is more important than anything else
The harsh truth in the crypto world is: one liquidation can wipe out your account. I have seen people leverage to chase highs, only to end up jumping off buildings; I have also seen those who stubbornly hold in bear markets, cutting losses at the bottom. Now my iron rule is: do not average down on losses, only add to profits. Don't believe in the myth of 'sure profits'; the market has its own way of dealing with all forms of disobedience. Remember, in the crypto world, survival is victory.
3. Accumulate BTC in a bear market, don't miss out in a bull market
During deep bear markets, the market is so cold that no one discusses it, but this is also the golden period for dollar-cost averaging. I insist on accumulating BTC every month, not because it is 'digital gold,' but because it is the only asset that has withstood multiple cycles. For newcomers, my advice is: diversify your principal, focus on BTC, and allocate a small part to potential coins. Don't be fooled by the wild ups and downs of altcoins; your goal is to survive until the next bull market!
4. Refuse emotional roller coasters: don't trade when fatigued
I used to stay up late watching the market, and as a result of decision fatigue, I made a series of basic mistakes—moving stop losses, ignoring risks, and ended up doubting life due to losses. Now I treat sleep as discipline: I never open positions when I'm not mentally fit. A day in crypto is like a year in the human world, but your body is not made of iron. Remember, trading when fatigued is like driving drunk; an accident is just a matter of time.
5. Trends are like fireworks; understand them before chasing
From DeFi to NFT, from blockchain games to AI, each round of trends is as brilliant and fleeting as fireworks. I have chased countless trends, only to realize: chasing highs and lows is human nature, but making money relies on early positioning. For example, AAVE insisted on lending in its early years and ultimately became a leader; whereas projects like FIL have grand visions but struggle to materialize, chasing highs leads to losses. My principle is: do not invest in sectors you do not understand, do not touch white papers you cannot comprehend.
6. Don't trust 'experts'; trust the fundamentals
90% of projects in the crypto world are Ponzi schemes, and so-called 'expert predictions' may just be traps to fleece you. I once blindly trusted the judgments of people like Li Xiaolai, only to find out later: the ones who can truly make money are those who research sectors, teams, and fundamentals. For example, leading projects often have monopolistic advantages, while projects riding trends rarely survive beyond three months. Now my strategy is: good sector, good project, good price; none can be missing.
7. Lower your expectations, staying alive is the real way
The current market has long passed the era of 'getting rich overnight.' It's hard for project parties to raise funds, VC exits are slow, and for retail investors, achieving 3-5 times returns is a hellish difficulty. My mindset is: give up on the fantasy of hundredfold gains, focus on small but beautiful opportunities. Learn more in bear markets, and stay calm in bull markets. Remember, the crypto world is not short of opportunities; what it lacks are those who can survive until opportunities arise.
There are no saviors in the crypto world; the only guiding light is your own understanding. The market never sleeps, but your life has to go on—while doing your job well, keep learning and accumulating coins; that is the ultimate rule for navigating through bull and bear markets.
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