Looking at the numbers in my account, I suddenly understood that the ones who survive in the cryptocurrency world are not the smartest, but the ones who can endure the most.
I remember when I first entered the cryptocurrency world, it felt like stepping into a casino. I chased after every rise and gambled on every rumor. In less than a month, my initial capital of $5000 was almost gone, leaving me with a pitiful $800. During that time, I couldn't sleep at night, my eyes glued to the K-line chart, my heartbeat rising and falling with the prices, I was almost losing my mind.
After losing nearly everything, I was forced to stop and think: why did I become the one who got cut? Later, I slowly realized — in the cryptocurrency world, it's not about who operates aggressively, but who can endure longer.
Today, I want to talk about how an ordinary person like me has survived in the turbulent cryptocurrency world with a 'Buddhist' mindset and even made some gains.
I. Tuition paid: from blindly following trends to calmly observing.
At first, like many newbies, I thought the cryptocurrency world was a place for quick wealth. The 'gods' on Weibo and Twitter posted profit charts every day, making it seem like making money was easy. So, I followed them in chasing highs and lows and leveraged, with predictable results.
The worst time was when I followed a so-called 'inside information' and went all in on a small coin, only to find out the next day that the project team had run away, and the coin price plummeted to zero. That lesson made me understand: in this information-asymmetrical market, blindly following trends is just giving money away to others.
Later, I changed my strategy and started spending time studying the fundamentals of blockchain, understanding the basics of various projects. I realized that I previously knew nothing about the projects I invested in; I was purely gambling.
II. My three 'Buddhist' trading principles
1. Resist the urge to chase highs.
When the market is crazy, everyone in the group is shouting 'go all in,' and the FOMO (fear of missing out) spreads. At that time, I set a strict rule for myself: never go all in at any time, and each time I increase my position, it should not exceed 10% of my total funds. This may have caused me to miss some opportunities, but it also helped me avoid more traps.
2. Don’t be afraid of drops, buy in batches
Market crashes in the cryptocurrency world are the norm; a 20% drop in a day is not unusual. In the face of declines, I no longer panic sell, but instead create a plan to buy in batches. For example, if it drops 10%, I add a small amount; if it drops another 10%, I add a bit more. This way, I am averaging down costs while controlling risks.
3. Don't be greedy; focus on the mainstream.
I used to be obsessed with various altcoins, fantasizing about finding a hundredfold coin. But now I primarily focus on mainstream coins like BTC and ETH. It’s not that smaller coins have no opportunities, but as an ordinary person, I admit it's hard for me to distinguish which are truly innovative and which are just scams.
III. Essential mindset adjustment techniques for surviving in the cryptocurrency world
After being in the cryptocurrency world for a long time, I found that managing my mindset is more important than technical analysis. Here are a few methods that help me stay calm:
1. Accept uncertainty
No one can predict market trends 100% accurately, not even the big players. Accepting this, I no longer get tangled up in the need for perfection in every operation, which has relaxed my mindset a lot.
2. Regularly step away from the screen
I used to spend over ten hours a day watching the market, but as a result, my health deteriorated and my trading results did not improve. Now I consciously reduce my screen time to a maximum of 2-3 times a day, avoiding impulsive trading.
3. Keep a trading journal
Record the reasons, results, and emotional states for each trade. Regular reviews help me identify my emotional patterns and avoid repeated mistakes.
IV. A few practical tips for beginners
If you just entered the cryptocurrency world, I want to share a few personal suggestions:
1. Start with small amounts
Invest with money you can afford to lose; never borrow or take loans to trade cryptocurrencies. The risks in the crypto world far exceed expectations; first survive before talking about making money.
2. Choose mainstream trading platforms
Don't go to unknown small platforms for low fees or so-called high returns; choosing a few major platforms is safer. After all, the safety of funds is number one, and everything else is just zeros behind.
3. Keep learning; don’t fantasize about getting rich overnight.
There are no shortcuts in the cryptocurrency world; true gains come from an increase in understanding. Spending time each day learning about blockchain is much more reliable than blindly following trends.
V. My insight: slow is fast
Looking back, I slowly grew from 800U to over 70,000U in almost two years. It's not fast, but every step has been steady. The most ironic point in the cryptocurrency world is: the more one desires quick money, the faster they go; while those willing to slow down may actually go further.
Now, I no longer envy those who post screenshots of getting rich, because I know that unless they leave this market, the game isn't over. And I prefer to move cautiously at my own pace in this high-risk, high-reward world.
The real survival rule in the cryptocurrency world is not about who makes more money, but about who lives longer. To live longer, you must learn one word—'endure.'
Of course, this is just my personal experience and opinion and does not constitute investment advice. The cryptocurrency market is risky, and investments should be made with caution. I hope everyone can find their own investment strategy and smoothly navigate the bull and bear market changes.
Have you had similar experiences? Feel free to share your stories and insights in the comments.
Follow me to learn more first-hand information and precise points of cryptocurrency knowledge, becoming your navigation in the crypto world; learning is your greatest wealth! #加密市场观察 #BinanceABCs $ETH
