Eight years in the crypto world, I have experienced the despair of five margin calls, slept on internet cafe floors, and seen eight-figure balances in accounts. What this game has taught me is—trading cryptocurrencies is never a sprint, but a series of narrow escapes within cycles. Each of the following lessons is earned with real money and hard lessons.

In a bull market, I focus on high-quality coins with strong elasticity; when a bear market arrives, holding onto BTC tightly is the way to go. High volume at low prices indicates true activity by the big players; volume dry-ups and rebounds are often just retail traders’ wishful thinking. In terms of operations, during an uptrend, position yourself at key moving average levels, set limit orders in advance, so you can pick up bargains during pullbacks. Catching two or three major trends a year is enough; frequent trading is essentially working for the exchange.

Position size is always the lifeline. Full position is like going naked; even in the most promising market, you should keep at least 30% cash on hand. Don’t think about adding to weak coins that are trapped; cut losses decisively when needed. Holding on blindly only wears down your mindset. News is not the engine; at best, it’s an accelerator. Nine out of ten trades opened based on news will lose money. If you don’t understand a market, just blacklist it. Focusing on one or two familiar chains is more effective than chasing hundreds of hot topics.

Emotions are the biggest noise; only a calm mind can distinguish between false signals of rising or falling prices. Altcoins will inevitably fall after rising too much, but falling too much doesn’t necessarily mean they will rise—key is to see the cycle position clearly. When everyone is bullish, I quietly move my stop-loss higher, because the greatest risks are often hidden in the frenzy. Being able to go completely flat is a mark of a master; when your hands itch, practice on a demo account and let the market wait until you’re ready.

The speed of hot sector rotation is fast; catching the right rhythm in advance is crucial for successful relay. Trading without a system is just guesswork; with a system, even mistakes are clear. A 9-to-1 loss ratio is normal; investing with idle funds keeps your mindset stable. Borrowing money to trade usually results in being knocked back to half health in the first wave.

Investing is like a long-distance run; with the right rhythm, fluctuations become scenery, and the finish line is compound growth. Eight years have passed, and I can’t say I’ve seen through the market completely, but each cognitive upgrade corresponds to less account drawdown. Those blood-stained lessons are meant to help you protect your principal and wait for the next bull market. Those who truly survive and profit in this market are always those brave enough to make the first move.