分析师刘总

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The dumbest and most costly thing you can do in trading is to cut your winning trades short while stubbornly holding on to your losing ones.

You make 3% and worry the profits will disappear, so you rush to close the trade and get out. You make 5% and spend the whole time watching for a pullback, getting ready to bail at the slightest dip. But once you're down 10%, suddenly you become patient, constantly reassuring yourself: Just wait a little longer. Maybe it'll bounce any second.

The result in your account is easy to imagine: when you make money, you only pocket a little; when you lose, you lose a big chunk. You spend all that time trading but miss out on the moves you should have caught, while paying real money for every bad call.

I used to be exactly the same. After placing a trade, the moment the price started rising, I'd immediately start calculating how much I could make.

If the market pulled back even a little, I'd panic that my profits were about to vanish. Then, as soon as I'd sold, I'd look back and see the price surge higher—and couldn't help kicking myself.

The very next second, I'd rush to buy back in at a higher price. After going back and forth like that, I'd rack up a pile of fees and completely lose my composure.

It took me a while to realize that the root of the problem actually lay in what I did before placing the trade.

When I entered a trade, all I could think about was how much I might make if I was right. I hadn't thought in advance about how to exit if I was wrong, or what price target to hold for if I was right.

Without an exit plan in place, every price move forced me to make a fresh decision on the spot. In the end, my actions were driven entirely by emotion.

Now, before I place a trade, I set my stop-loss level and take-profit plan in stone: as long as the trend hasn't broken down, I won't panic and exit just because my unrealized profit has shrunk a little during a normal pullback.

If a key support level breaks decisively and the structure has completely changed, then it's time to exit—and I'll do so without hesitation. Holding on to a profitable trade doesn't mean blindly clinging to it just because your account is in the green, and it certainly doesn't mean deluding yourself that you'll sell at the absolute top every time.

Whether you can hold a trade steadily should already have a clear answer the moment you enter. Don't let the habit of “taking a small profit and running” become ingrained, only to end up with one big loss that wipes out all the small, cautious gains you took before.

Don’t rush to buy the dip!

After prices have been falling for a while, they suddenly rally for several days in a row, and you immediately think the bottom is finally in. Then some good news drops, making you even more certain that the market can only keep going up from here.

Just when you finally work up the courage to go all in, the market turns around and plunges back into a downtrend.

Why do you keep mistaking false bottoms for the real thing? Because you never base your entries on the actual trend—you base them on what you hope will happen.

After a prolonged decline, you want to buy the dip. After just two days of gains, you’re afraid of missing out. Once you’re stuck in a losing position, you reassure yourself that the long-term value is still there. The whole approach seems logical, but in reality, every step is driven by price fluctuations.

The most exhausting thing about a bear market isn’t the daily grind lower. It’s that it keeps giving you a few rallies that look just like the start of a bull market, lulling you into letting your guard down and piling all your money in—again and again.

So don’t just fixate on a few days of gains. Whether the price can hold key support after a rally, whether there’s enough buying to catch it when it pulls back, and whether the overall trend can keep strengthening—these details are far more reliable than how many people in the group chat are calling for a bull market.

Until the signals are clear, don’t rush to fill your position. Holding on to cash doesn’t mean you’ve missed out, and staying on the sidelines for now doesn’t mean your judgment is wrong.

What’s truly dangerous is having no confidence in your decision, yet forcing yourself to enter a trade because you’re afraid of missing out.

There’s an even worse situation: your account is already deep in the red, so you desperately search everywhere for evidence that “the bull market is just around the corner.” At that point, you’re not analyzing the market at all.

You’re just looking for reasons to keep holding a losing position. Don’t let an ordinary trade turn into a test of faith that you have to rationalize to yourself.

If the trend isn’t going your way, reduce your position. If your judgment was wrong, admit it decisively. Wait for a clear opportunity before acting. You don’t need to buy at the absolute bottom.

As long as you don’t slowly burn through all your capital with every false reversal, you’re already well ahead.

Spending too much time in crypto can make it easy to lose touch with the pace of everyday life outside it. People around me are busy going to work and running businesses, while my life revolves almost entirely around the market.

I jumped into crypto at 20, and this year marks exactly ten years. 2024 to 2025 was the real turning point for me: for the first time, my account steadily reached eight figures.

In the early years, whenever I went away and stayed in a hotel, I’d spend ages comparing prices just to save a few dozen yuan. Now I’ll casually book a room that costs 2,000 a night without a second thought. The hats I carry around

and my suitcase often have little crypto-themed details. Sometimes I even hope to run into fellow crypto enthusiasts on the road, so they’ll recognize at a glance that I’m into crypto.

My older relatives, who run factories and e-commerce businesses, always ask me: “What are you so busy doing, staring at a computer screen all day?”

Trading crypto doesn’t mean dealing with supply chains or chasing clients for overdue payments. But the pressure of enduring market swings is something you simply can’t understand unless you’ve been through it yourself.

A lot of people ask what helped me get results over these ten years. After thinking it over, I still come back to the same thing: mindset always comes first; technical skills come second. Over the years, I’ve stuck to four ironclad rules and never broken them:

First, always use BTC’s price action as your main market indicator. When BTC is strong, altcoins have room to perform; when BTC weakens, most small-cap coins can’t withstand the selling pressure. Don’t rush in just because you see a sudden spike—check the broader market first.

Second, keeping some USDT on hand is a position in itself. I used to panic about missing out whenever the market rallied. Now, the crazier the market gets, the more inclined I am to keep extra cash on hand. There are opportunities every day; there’s no need to go all in every time.

Third, set your own rhythm for watching the market. I take a quick look at short-term moves between midnight and 1 a.m., review the overnight action between 6 and 8 in the morning, and wait for the European and U.S. sessions to pick up before judging whether new opportunities are emerging. When it’s time to rest, I rest properly—I never stay up all night glued to the charts.

Fourth, don’t get emotionally attached to losing positions. Some coins can recover after a drop, but many never bounce back. This is especially true of small coins with little trading volume and no sound underlying rationale—the more you average down, the deeper you get trapped.

The biggest change after ten years of trading crypto is that I no longer insist on catching every market move. I used to think that missing out on a profit was the same as losing money. Now I understand that there will always be more money to make in the market.

But your health and quality of life can’t withstand endless strain. Being able to grow your account while still living a relaxed, balanced life—that’s what it really means to make it through the rough waters of crypto.