When your emotions get out of hand, having your account reach zero isn’t far off.
This is something I truly figured out after 8 years in the crypto market and repeatedly suffering losses. And it’s also because of this line that I gradually turned 10,000 U into 100,000 U.
There’s no insider information, and no such thing as talent. What truly saved me was a very down-to-earth set of methods. I call it “Five Knives to Cut Gambling Instinct.”
First Knife: Cut the principal into pieces. No matter how much money you have, split it into five parts. Each time, only one part is allowed to be used; the rest should be placed somewhere that’s inconvenient to trade on a whim. When people want to go all-in, adding one extra transfer step gives you another chance to cool down.
Second Knife: Train your mindset with spot trading first. In the beginning, don’t rush into high leverage. Only trade liquid, mainstream coins. Wait until the price returns to a reasonable level before entering in batches. Don’t chase sudden pumps, and don’t touch projects you can’t understand at all. The goal of the first stage isn’t to make how much money—it’s to make sure you can still follow your plan even after experiencing volatility.
Third Knife: There must be a limit to averaging down. After you enter, if the price keeps falling, you can average down according to positions you set in advance—but no more than two or three times. If you’ve used up your intended position and it continues dropping, admit that this call was wrong. Averaging down is to adjust your cost basis, not to gamble out of spite against the market.
Fourth Knife: Take profits first when they come. Once your unrealized profit hits your target, sell part of it first—bring back your principal and some of the profits. Let the remaining position follow the trend. Many people don’t lose because they never made money; they lose because after profits show up, they keep wanting more. Then in the next drawdown cycle, they give it all back to the market.
Fifth Knife: Cut off the itch to trade. Check the market only at fixed times each day. At most, do one trade per day. Before entering, you must clearly write down why you’re buying, where you’ll exit if you’re wrong, and where you’ll take profit. If you can’t write the reason, don’t do it. If you have consecutive losses, stop. Only when accumulated profits reach a certain level should you take them out in batches.
These five knives seem ordinary. But when you truly execute them, they slowly cut down impulse, greed, and wishful thinking.
Making money from trading isn’t that mysterious. The real difficulty is whether you can hold back when the market tempts you, whether you dare to admit you were wrong when losses appear, and whether you’re willing to take profits after you’ve got them!!
#CryptoGetRich
This is something I truly figured out after 8 years in the crypto market and repeatedly suffering losses. And it’s also because of this line that I gradually turned 10,000 U into 100,000 U.
There’s no insider information, and no such thing as talent. What truly saved me was a very down-to-earth set of methods. I call it “Five Knives to Cut Gambling Instinct.”
First Knife: Cut the principal into pieces. No matter how much money you have, split it into five parts. Each time, only one part is allowed to be used; the rest should be placed somewhere that’s inconvenient to trade on a whim. When people want to go all-in, adding one extra transfer step gives you another chance to cool down.
Second Knife: Train your mindset with spot trading first. In the beginning, don’t rush into high leverage. Only trade liquid, mainstream coins. Wait until the price returns to a reasonable level before entering in batches. Don’t chase sudden pumps, and don’t touch projects you can’t understand at all. The goal of the first stage isn’t to make how much money—it’s to make sure you can still follow your plan even after experiencing volatility.
Third Knife: There must be a limit to averaging down. After you enter, if the price keeps falling, you can average down according to positions you set in advance—but no more than two or three times. If you’ve used up your intended position and it continues dropping, admit that this call was wrong. Averaging down is to adjust your cost basis, not to gamble out of spite against the market.
Fourth Knife: Take profits first when they come. Once your unrealized profit hits your target, sell part of it first—bring back your principal and some of the profits. Let the remaining position follow the trend. Many people don’t lose because they never made money; they lose because after profits show up, they keep wanting more. Then in the next drawdown cycle, they give it all back to the market.
Fifth Knife: Cut off the itch to trade. Check the market only at fixed times each day. At most, do one trade per day. Before entering, you must clearly write down why you’re buying, where you’ll exit if you’re wrong, and where you’ll take profit. If you can’t write the reason, don’t do it. If you have consecutive losses, stop. Only when accumulated profits reach a certain level should you take them out in batches.
These five knives seem ordinary. But when you truly execute them, they slowly cut down impulse, greed, and wishful thinking.
Making money from trading isn’t that mysterious. The real difficulty is whether you can hold back when the market tempts you, whether you dare to admit you were wrong when losses appear, and whether you’re willing to take profits after you’ve got them!!
#CryptoGetRich
