(Just personal experience, not investment advice)

Ten years ago, I was that kind of newcomer driven by desire, rushing into the crypto world with a "get rich quick" dream. The first year? I was completely stunned—losing 80,000 yuan down to 40,000, and I really wanted to uninstall the app and never look back. Luckily, a friend from Shenzhen gave me some guidance, and I gradually figured out the tricks. Looking back now, my assets have increased by 325 times over these ten years. I no longer worry about money, but the most valuable thing I gained was the lessons learned from the tuition fees I paid.

**What is the market really teaching us?**

The most painful lesson: the trend is king, your feelings are a ghost.

When I first entered the market, I was most afraid of K-line dives. Seeing a 20% drop in an hour would make me panic, frequently stop-loss, and end up selling at the lowest point. Only later did I realize that the truly valuable information isn’t on the daily chart but hidden within the moving average system. As long as a coin’s pullbacks stay steadily above the 10-day moving average each time, the upward momentum is like climbing stairs—organized and orderly. This indicates that the main players are controlling the market, and your job is to hold on. Conversely, once the price breaks through previous lows or key support levels, don’t hesitate to reduce your position. Don’t expect a rebound because I’ve seen too many people unwilling to cut a 3% loss, only to see their holdings halved in the end.

Another pitfall is news sentiment. When positive news floods the market, it’s actually the most dangerous time—the moment when the scythe is the sharpest. I remember once hearing a rumor that "a certain country approved a spot ETF for a certain coin," which turned out to be false. The price plummeted 15% in 15 minutes. After losing several times, my approach changed: when news is everywhere, be extra cautious. The real opportunity is when no one is talking about it, negative news has been exhausted, and the market is cold as an ice cellar—that’s the golden time for quietly building positions.

**How did I learn to use trading discipline with blood and tears?**

Position management is always more important than your coin-picking eye.

In my early years, I made the stupidest mistake—going all-in on a "top-tier project," confidently claiming it would be the next hundred-bagger. What happened? The team ran away, and the coin went to zero. That moment made me realize what losing everything really means. Since then, my rule has been very strict: no single coin’s position should exceed 5-10% of the account, no matter how certain it looks. This way, even if I hit a mine, I won’t be wiped out; the account can only shrink by 10-20%, and I can bounce back in half a year. Looking back, those friends who went all-in on one shot, once the project failed, they were immediately sidelined.

Another detail: don’t be blinded by rapid gains. When a coin surges 50% in a short period, beginners often FOMO in, but that usually means they’re catching the last wave. My habit is to reduce positions during rapid surges—that’s not cowardice, it’s respecting the market’s cycle. Historically, each bull market top for Bitcoin looks similar—ridiculously high, with trading volume piled up, and everyone hyping it. Every rise at that point could be weak.

**Persistence and learning are forever costs**

Today, these words might sound like old clichés, but very few can truly do it. Most failures in the circle aren’t because people aren’t smart enough, but because they are defeated by greed and fear. Watching others get rich overnight makes you itchy, but during corrections, you’re terrified to death. The result is always buying high and selling low.

My biggest takeaway from these ten years isn’t how much money I made, but that I finally don’t live so stressed. Know when to take, when to stop, stop fighting the market, and learn to dance with it.