A day in the cryptocurrency world is like a year in the human world. But those who truly survive are the ones who understand 'take it slow.'
At two in the morning, the light from my phone screen reflects on my face. Looking at yet another accurately predicted market trend, I smile knowingly. This isn't luck; it's the 'market sense' I've earned over eight years.
From entering the cryptocurrency world at 25 to now being 33, over these eight years, I have witnessed too many myths of overnight wealth and have also seen more tragedies of overnight losses. I am very fortunate that in 2023-2024, my account first broke the eight-digit mark.
Nowadays, staying in a hotel that costs two or three thousand a night is no longer surprising. It's essential to have a cryptocurrency logo on my suitcase, not to show off, but to recognize 'our people' in the vast crowd. Compared to my elders who work in factories or e-commerce, my life is indeed much more comfortable: no need to monitor the supply chain, no need to argue over contracts, and no clients defaulting on payments.
But is all of this really just based on technology?
Mindset is 1, technique is 0.
Many people think trading cryptocurrencies relies on mysterious indicators or insider information; I initially thought the same. After eight years of trial and error, I deeply realize: mindset determines success or failure, and technique only affects how much.
The three most harmful mentalities in the crypto world are: FOMO (fear of missing out), FUD (fear, uncertainty, and doubt), and overconfidence. I have also chased prices at highs due to FOMO, sold at lows due to FUD, and felt like a genius because of a momentary profit. These are all tuition fees, expensive tuition fees.
Now I am more like a turtle: I retract when the market is bad and strike decisively when I see a good opportunity, then hold patiently. Just like the Dogecoin I bought at $0.085, I held onto it until now, multiplying over 20 times. It’s not due to technical analysis, but rather the mindset of 'let the storm rise, I will calmly fish.'
My practical mindset: rules beat predictions.
1. Position management is the foundation of survival.
I divide my funds into five parts, operating with only one part at a time. If I incur a 10% loss, I immediately cut my losses without averaging down. This sounds simple, but most people can't do it. Why? Because human nature abhors loss; they would rather hold on than accept a loss.
In my trading system, controlling position size is more important than technical analysis. Never go all in; keep 50% cash to wait for opportunities, so you can calmly add to your position when the market crashes instead of panic selling.
2. The trend is your friend.
The biggest taboo in trading cryptocurrency is to guess the peaks and troughs. I use 'multi-timeframe resonance' to judge the trend: the daily chart determines the direction, the 4-hour chart finds opportunities, and the 1-hour chart selects entry points. I will only consider buying when all three timeframes are aligned upwards.
Bitcoin will always be the boss. When it rises, altcoins have a chance; when it falls, all the little brothers must follow suit. Occasionally, Ethereum will have an independent trend, but don’t expect altcoins to withstand the general market decline.
3. Timing determines victory or defeat.
I have summarized three key time points:
12-1 AM: Prone to 'spike' movements; placing orders before sleeping often allows you to pick up cheap chips.
6-8 AM: It's a weather vane for the day's trends. If it falls in the first half of the night, it will likely continue to fall in these two hours. Just close your eyes and average down, as there is a high probability it can rebound that day.
5 PM: US funds have just entered the market, making it the easiest time for large fluctuations.
Don't blindly believe in 'Black Friday'; Fridays have seen both drops and rises. The key is still to look at the news and the comparison of bullish and bearish forces.
Trading cryptocurrencies is like practicing a skill; life is greater than trading.
Many people ask me if those who trade cryptocurrencies can return to normal life. My answer is: true cryptocurrency experts have never left normal life.
I get up early every day to send my kids to school, go to the park to run in the afternoon around four or five, and then pick them up after school. After the US market opens in the evening, I only need to seize a few opportunities to achieve my small daily goals. Trading is not the entirety of life, but a tool to realize a free life.
Those in the crypto world who have lost millions or even billions often don’t hear a splash. Why? Because they have become accustomed to this wealth game in the virtual world, fully aware that the wealth lost here cannot be sought for support or reclamation in reality.
Words of sincerity for my brothers in the crypto world.
If you want to survive long-term in this market, remember three points:
Only invest spare money, ensuring that this portion of funds will not affect normal life even if it goes to zero.
Minimize leverage; 95% of liquidations are related to 'high leverage + stubbornly holding onto losses.'
Maintain patience; the cryptocurrency circle is a place where 'three years without opening a shop means eating for three years when you do.'
The ultimate goal of trading cryptocurrencies is not to make a lot of money, but to survive long-term in the market without affecting the quality of life. The best strategy is not to seize every opportunity, but to be able to sleep peacefully when you miss one.
In my eight years in the crypto world, my biggest realization is: in the end, trading cryptocurrencies is a battle of patience and lifestyle. The essence of financial freedom is not doing whatever you want, but being able to not do what you don’t want.
I hope my experience can help you avoid detours. Going fast alone, going far together; I look forward to meeting you on the broad road of cryptocurrency.
(The above content is just personal opinion and does not constitute investment advice. The market has risks, and investment requires caution.)
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