After years of ups and downs in the crypto world, I’ve witnessed early morning spikes, midnight crashes, experienced the confidence during full positions, and sleepless nights after liquidation. Through the ups and downs, the pitfalls I’ve tripped over and the losses I’ve endured have slowly crystallized into a few actionable maxims—no playing around; all lessons are paid for with real money, shared for friends still navigating the market.
① In the morning session, look at the essence; don’t be misled by the 'first glance'.
The morning market is the most 'pure', free from external noise. Sudden drops? Don't panic; most of the time it's a classic move by the main players to accumulate. If the market surges right after opening, don’t chase; it’s often an opportunity to reduce your position—locking in profits is far more reliable than anything else.
② Be cautious in the afternoon; don’t rush to pick sides in both rises and falls.
The afternoon spikes are often emotional or short-term traps; impulsively following along can easily make you a 'bag holder'. Conversely, afternoon drops often hide signals of a bottom; first, assess the volume, wait for clarity in structure, and even if you buy on a rebound the next day, it's more prudent than blindly bottom fishing.
③ Endure the downturns and withstand the sideways movements.
Upon waking to a big drop, don’t rush to cut your position—many times it's just a shakeout. Panic selling often plays right into their hands. What you should be wary of is 'dead water sideways': when prices stagnate and news is quiet, it's better to rest and avoid making trades that 'lose time without making money'.
④ Trading has its rules; don’t be greedy or impulsive.
Don't sell before reaching the target price; it seems like 'earning less', but in reality, it avoids a 'roller coaster'. If it hasn't reached the expected level, buying seems like 'bottom fishing', but it might just be 'buying halfway up the mountain'. Can't understand sideways movement? Just give up—remember, 'not trading' is itself a top-notch position management strategy.
⑤ Dare to act on bearish candles, retreat on bullish candles.
Survival wisdom from seasoned players: when a bearish candle drops, as long as the logic holds, it's an opportunity for staggered positioning; when a bullish candle surges, especially with high volume, reduce your position first. This method may not always yield the highest profit, but it helps you survive longer in the market.
⑥ We all understand the reasoning; the real skill is in execution.
'When others are fearful, I am greedy; when others are greedy, I am fearful.' Anyone can recite this, but 90% of people do the opposite. The real profitable market often hides in the fears that most people dare not act upon, and it ends in the frenzy when everyone shouts 'it can still rise'—it's easy to know but hard to act; what’s lacking is that bit of composure.
⑦ Sideways trading tests your patience; only by enduring can you see the dawn.
Many people don’t fail due to big rises and falls, but rather stumble during sideways periods. 'Long sideways must change' is true, but how long is 'long'? No one can say for sure. Those who can’t endure often exit at the last moment before a market explosion; those who can endure can wait for their wave.
⑧ When prices surge, dare to let go; don’t cling to 'the last drop of soup'.
The harshest lesson in the crypto world: After a surge, during a high price sideways movement, being reluctant to sell and thinking of 'earning just a bit more' leads to a waterfall-like drop, wiping out all profits. Remember, no matter how tempting the tail end of the trend is, don’t be greedy; earning less is always better than losing your principal.
These words have been distilled from my cycle of 'massive profits - massive losses - steady profits'. The crypto world never lacks opportunities; what it lacks are those who can hold onto those opportunities. I hope you can avoid some pitfalls and steadily secure your share of profits in this cycle.
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