I am a self-taught cryptocurrency trader. When I first entered this market six years ago, at 30 years old, I was full of dreams of getting rich quickly. Believing in blockchain, eager to change my fate, my approach was a typical rookie’s—staring at the charts until dawn, chasing gains and cutting losses as a daily routine, ultimately being painfully educated by the market.

I almost quit because of it. Later, I gradually developed a set of methods to survive, and looking back at those past mistakes, I find them quite funny.

**Mindset is the first hurdle**

When I first entered the crypto space, I was easily hyped by screenshots of others’ hundredfold returns, thinking I could find an easier way. FOMO would kick in, and I’d throw all rational analysis out the window. The result was chasing high and getting trapped, cutting losses and admitting defeat.

Only after experiencing more did I realize that the toughest opponent in this market is never the market maker, but your own greed and fear.

When a certain coin suddenly surges, can you resist that restless urge? When the market crashes and panic levels skyrocket, can you stay calm and think rationally?

The first rule I set for myself is: if I don’t see familiar signals, I absolutely don’t move. Better to miss out than to make a mistake. It sounds simple, but in practice, it’s really hard to follow. Especially in those tempting market conditions, this ironclad rule can save you countless times.

**Discipline is more scarce than luck**

The crypto world is never short of voices. Every day, someone is talking about a coin about to explode or a shanzhai project being the next opportunity. But those who actually make money usually have a clear trading system—they buy when it’s time to buy, wait when it’s time to wait. Not because they are smarter than others, but because they are patient enough.

This sense of discipline acts as a moat in turbulent markets. It protects you from buying at high prices and from selling at lows.