Having been in the crypto world for so many years, I've seen too many people messing around in the market, only to end up losing everything in the end. I’ve also experienced liquidations, being trapped, and losing all my capital, until I gradually developed a set of strategies. Now I want to share the pitfalls I’ve encountered and the lessons I’ve learned with friends who are still exploring.

**Entry Mindset Is Crucial**

If your capital isn’t large, say only 100,000 yuan, never go all-in every day. Being able to catch one decent main upward wave in a year is actually enough. Many people just can’t sit still and always want to be in the market, only to get repeatedly cut. When the market isn’t moving, patience is the real skill.

Cognition determines your ceiling. Before trading live, practice with a demo account to build feel and mental resilience. A demo account can fail infinitely, but a real account with real money can be wiped out with one big loss—that’s two different things.

**Common Pitfalls in Entry and Exit Points**

There’s an counterintuitive rule: when good news is announced and the market reacts, it often marks the top. If the market doesn’t rise promptly, but opens higher the next day, be alert. Many people chase the high at this point and get trapped.

Be especially cautious before holidays. Historical data repeatedly shows that reducing or even closing positions before holidays is usually the right move. It’s not superstition; it’s a pattern.

**How to Operate for Mid-Long Term**

If you want to hold for the mid-long term, the key is to keep enough cash reserves. Sell some at high levels, then slowly build positions at lower levels, repeating this cycle. Don’t expect to capture all the gains in one wave—that’s the game of the big players. Retail traders doing this ten times will likely get lessons eight times.

**Short-Term Stock Picking Strategy**

For short-term trading, only focus on coins with active trading volume and obvious volatility. Abandon inactive ones. It’s a waste of time and easy to get trapped.

The rhythm of decline is also crucial. During slow, gradual dips, rebounds can be frustrating; but if the decline accelerates, rebounds often come back quickly. Timing this rhythm correctly can make you money.

**Stop-Loss Is the Bottom Line**

If you make a wrong move, admit it and cut your losses immediately. As long as your principal remains, opportunities will always be there. This is the fundamental logic of survival.

For short-term trading, look at 15-minute K-line charts combined with the KDJ indicator; it can help you find quite a few good entry and exit points.

**Final Advice**

Trading techniques are numerous, but you don’t need to master them all. Master one or two methods thoroughly and practice them repeatedly to an extreme level—that’s more useful than learning a little of everything.

These ten tips are lessons I’ve learned through real money and blood. Avoiding these pitfalls alone is a way to make money.