‍#Gate广场新手村第三期

My first exposure to cryptocurrency was during a bear market. At that time, I only registered on Gate to sell coins for a blockchain game and then didn't use it anymore. Last year, I returned because of the bull market, and social media was filled with myths of getting rich overnight. I was deeply attracted by the narrative of buying low and selling high, rapidly becoming wealthy.

My tuition and lesson learned is that seeing a certain cryptocurrency soar, I impulsively FUD-ed in, only to end up as a bag holder trapped with no exit, having to hold on continuously. Fortunately, this coin can still be staked on the platform and airdrops can be received based on holdings. Lacking risk awareness, I invested all my funds into one or two projects, and when they plummeted, I faced huge losses. This also resulted in me being heavily invested in this coin due to FUD, leaving me with almost no extra funds to profit from subsequent market fluctuations, missing out on a lot of opportunities. During this time, I tried following small trades, believing various rumors and tips from teachers, constantly buying and selling, and ultimately the transaction fees became a significant expense, with profits being slim or even resulting in losses. Additionally, following bots led to direct liquidation. So it's better to rely on myself for making money, learning how to trade and manage my own funds. The market is always right; high leverage and high-frequency trading are traps for retail investors. I realized that greed and fear are the biggest enemies in trading.

After experiencing several losses, I began to calm down and systematically learn and build my own trading strategy. A clear, backtested trading strategy is worth more than any insider information. Strictly control your position size, and each loss must be limited to a very small percentage of total capital. First, consider how much I can lose at most, rather than how much I can earn at most. Accepting losses is part of trading; do not become overly confident due to profits, and do not fall into emotional collapse due to losses. Maintain a calm mindset, like a farmer plowing the field, patiently waiting for the harvest season.

Our trading journey continues, and the market keeps changing. Keeping learning, staying humble, and maintaining discipline are the most valuable lessons learned from the cryptocurrency market.