This market has never been about IQ; it's about whether you can control yourself.

In 2017, I went all in on a certain altcoin, and my account balance jumped from 50,000 to 1.2 million. During that time, I felt incredibly high; someone in the group called me teacher, and when I posted my profits on social media, my fingers were trembling. Whenever I took a taxi, I always chose a premium car, and I even felt that chatting about blockchain with the driver was beneath me.
Then what? At the beginning of 2018, the market crashed, and I stubbornly refused to cut my losses, always thinking to myself, "There's still a chance to turn things around." In the end, my account shrank to only 80,000 yuan.
After ten years of struggle, the most painful thing is not losing money, but the fact that I clearly could have preserved my profits, yet lost to my own little streak of luck.
In this circle, the pitfalls I've encountered are more valuable than the money I've earned. Here are a few hard-earned lessons to share:
**Rule 1: The stop-loss line must not be touched**
Now I have set a strict rule for myself - a single loss must not exceed 2% of the principal. Cut it off immediately when it hits the line, don't think about the nonsense of "main force washing the plate."
A loss of 20% requires a 25% gain to break even, and a loss of half requires a doubling to recover the original investment. You can't afford this time cost.
**Article 2: Withdraw capital in batches when making a profit**
First, get back the principal that has doubled, and then you can do whatever you want with the remaining profit.
During the Dogecoin market surge in 2021, I withdrew 30% every time it rose by 50%. In the end, my principal was already secured, and even though my profits rolled up to 30 times, I remained calm.
**Article 3: Do not touch contract leverage**
I have seen too many stories of people making ten times their investment in three days, only to lose it all overnight.
High leverage is the pit that the platform digs for you; they earn the money from your liquidation.
**Article 4: Altcoins should only be played with small positions**
Do not exceed 10% of total positions, so that fluctuations won’t cause a collapse in mentality. Focus mainly on Bitcoin and Ethereum—dark horses may make you rich, but white horses can help you survive until the end.
Now I steadfastly do two things: I must check the position profit and loss before sleep, and I will liquidate my holdings even at three o'clock in the morning if it hits the stop-loss line; I keep a record of each trade, marking losses in red pen, forcing myself to review where I made mistakes.
Ten years have passed, and those "gods" in the group have long since disappeared. The ones who remain are actually those who seem very foolish: they don't chat in the group, they don't chase trends, and during the bull market, they even earn less than others— but when the bear market comes, they still have ammunition in hand.
The most heart-wrenching truth in this circle is: smart people want to seize every opportunity, while disciplined people only grasp the one they can control.
Bull markets rely on luck, bear markets depend on skill.
I used to stumble around in the dark, but now I hold a light in my hand.