2026-01-20 03:29:00

Since 2019, I have been navigating this circle, witnessing Bitcoin's sharp declines and missing out on several mainstream coin surges. Over the years, my biggest insight is one sentence: opportunities are not lacking; the key is to live long enough to wait for them. The following ten points are my real-world experiences, which may help you avoid some pitfalls.

1. Keep your principal under 100,000 and never go all-in
Market volatility is fierce; full position equals an all-in on the gambling table, and one wrong judgment could wipe you out entirely. You must keep cash reserves so that when the main upward wave comes, you have ammunition to add, and during sharp declines, you can also buy the dip. My simple approach: keep total holdings within 70% of your principal, and reserve the remaining 30% as emergency funds, which can save your life at critical moments.

2. Practice with simulation before investing real money
Too many people jump into live trading without even understanding candlestick charts, ending up as a "cash machine" for market manipulators. The purpose of simulation trading is not just to familiarize yourself with the process but more importantly to hone your trading mindset. My advice: trade on a demo account for at least three consecutive months of profit before investing real money. Without proper understanding, the money you earn will eventually be lost.

3. Exit once good news is realized; sell immediately if the opening is weak
There’s a rule in crypto: good news turns into bad news after it’s priced in. For example, if a project announces mainnet launch, the price might have already risen 50% before the announcement, but on the launch day, it may plunge. If the opening is high but fails to push higher, it’s usually a sign that the market maker is unloading. Don’t hesitate—reduce your holdings quickly.

4. Reduce positions before holidays to lock in gains
Historical data shows that markets tend to crash around holidays. Large investors and institutions close positions early to hedge risks, causing liquidity to dry up, and retail investors become easier to trap.

5. Don’t chase highs; wait for a pullback to re-enter
The most dangerous moment is when a coin surges by double. Many people get caught up and chase after it, becoming the last bagholders. The smarter approach is to wait for a retracement and look for an entry point.

6. Set proper stop-loss and take-profit levels
Many traders simply ignore their positions after being caught, hoping it will bounce back. Others take small profits and become complacent, only to see the market reverse and wipe out gains. Setting stop-loss and take-profit seems simple but tests your discipline and human nature when executing.

7. Concentrate holdings in no more than three coins
Having too many coins can be distracting; you won’t be able to monitor them closely. Limited energy means focusing on your top few favorites.

8. Be cautious with small altcoins following trends
When popular coins surge, they often trigger a wave of small altcoins skyrocketing. Chasing in at this stage is usually the last frenzy. Market makers think the same way.

9. Regularly review your trading records
Every buy and sell is a lesson. Without review, you keep repeating the same mistakes.

10. Mindset is more important than technical skills
Ultimately, making money in crypto depends not on choosing the best coins but on mental resilience. Being able to resist chasing highs, endure being trapped, and cut losses in time—these qualities are more valuable than anything else.

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rugdoc.eth

· 01-20 19:22

Living long enough to make money—well said. All my impatient friends have become ATMs. Honestly, the first point hits the hardest. The all-in full position strategy is outdated for me. The annual pre-holiday market crash has become a tradition; now everyone is reducing their positions in advance. Regarding mindset, no matter how skilled your techniques are, it’s all useless if you can’t overcome that mental hurdle. I’ve seen many people chasing high; they double their investments and still keep pushing. It’s hilarious. Three months of simulated trading is a solid suggestion. Too many people go all-in with real money without practicing their trading psychology. Is stop-loss and take-profit simple? Executing them is truly hellish. When you're caught in a position, you just don’t want to face it. I’ve learned at least seven or eight of these lessons the hard way; I was foolish back then.

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ImpermanentPhilosopher

· 01-20 03:58

It's all about surviving long enough to win, that's a brilliant statement... My friends are still chasing high and taking over the positions. --- Having 30% cash reserves is amazing, it can really save your life at critical moments. How many people have gone all-in and are now still eating dirt? --- Making profits in a simulated account for 3 months before investing real money sounds simple, but actually 99% of people can't do it. They're too impatient. --- Cash out when positive news is realized, it's easy to say. Every time, you think about waiting a bit longer, but then you get hammered. --- Before the holiday, you must reduce your holdings. I've jumped into this pit once, and I won't do it again. --- The group chasing high prices, honestly, being able to control yourself from chasing is true discipline. --- For up to three cryptocurrencies, I think it depends on the individual. Some people can manage more. --- I vote for mindset over technical skills. I've seen too many technically skilled traders end up bankrupt because of themselves. --- If you don't stick to review and reflection, you're just repeating the stupid mistakes from last month, repeatedly stepping into the same traps.

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governance_lurker

· 01-20 03:58

Honestly, the all-in strategy is really outdated. I've seen too many people go all-in in one shot and end up crying. This guy's points are spot on, especially the third one. I also only realized it after losing money from good news causing a sharp drop. Practicing on a simulated account for three months is a bit exaggerated. I personally never simulate; I just try small amounts and learn from mistakes. The last point is brilliant—mindset > choosing coins. In other words, psychological resilience is fundamental. It's true that the market crashes before holidays; it's been like that every year. It's not wrong to exit early. Wow, after reading ten points, it feels like therapy for my crypto PTSD. Something feels missing—especially regarding profit-taking, which is still too vague. I've been a veteran investor for five years, but I haven't learned to wait for a pullback. I always feel that missing out once is an eternal regret.

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GhostAddressMiner

· 01-20 03:58

This theory sounds perfect, but what I care more about is... where did that 30% emergency fund finally flow to? I scanned thousands of wallets using on-chain data, and very few people can truly hold onto 70% of their holdings. Most of them completely sink during the moment when a certain positive news is realized.

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GweiWatcher

· 01-20 03:58

The "Live Long and Prosper" series is back, and this time it's all practical tips. Especially points 3 and 5 really hit home; at the moment of chasing the high, my brain just stops working. But honestly, I’ve never been able to keep 30% cash reserves. I always tell myself to hold onto it, but in the end, I just can't resist... that's the hardest part. I have deep experience with the pre-holiday dump. The week before every holiday is basically a slaughterhouse, and I’ve already learned to run first out of respect. It takes about 3 months of simulation to go live with real money? I only started to understand after losing enough to wake up. The cost was a bit high haha, but it definitely taught me a lesson.

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AirdropFreedom

· 01-20 03:54

It’s a bit heart-wrenching to see, especially point 3. I fell into too many "positive news" traps last year. Living long enough is the best advice, more practical than any technical analysis. But to be honest, I’ve never managed to keep 30% cash reserves; I always end up unable to resist...

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ZkProofPudding

· 01-20 03:49

Living long enough to wait for it—this really hit me. Unlike most people, I’m not so anxious. Honestly, the second point is the most painful. How many people panic without even doing a simulation? I’ve paid my tuition too. Chasing highs, I really wasn’t thinking clearly. Seeing others make money, I wanted to follow the trend, and in the end, I became a leek. Before the holiday, I must liquidate some assets. Those who didn’t heed the advice before this holiday are now regretting it with all their guts. I remember the 30% cash reserve ratio. Looks like I need to revise my aggressive strategy. Stop-loss is easy to talk about but really hard to implement. Mental preparation is the biggest lesson. Some people are still buying coins in a sleepwalking state, not even understanding candlestick charts. Wake up, everyone.

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ChainBrain

· 01-20 03:38

Living long enough is indeed the core. I just didn't hold the 30% cash line and ended up getting slammed to the ground by the crash multiple times. --- The suggestion to simulate trading for 3 months is really heartbreaking. We confidently jumped in after just two months, and now we're still paying off debts. --- It's definitely correct to sell when good news is realized. I've seen too many dramas of the market plunging on the first day of listing. --- I regret not reducing positions before each holiday. A painful lesson. --- Chasing high is really a human weakness. After a double increase, still wanting to chase the second double. How unclear can one's mind be? --- Setting stop-losses but not daring to execute them. This mindset can't be changed without experiencing a few margin calls. --- Holding only three coins can be pretty boring, but it definitely saves a lot of worry. --- Following small coins? That's just jumping into the fire pit. Now we've learned to be smarter. --- Reviewing trades is really troublesome, but those who don't review end up losing the most. No one can escape this rule. --- It's easy to say but hard to do. Every seasoned trader agrees that mindset is more important than technique, but few can truly achieve it.

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