I don’t hype getting rich quick, and I don’t sell courses. I just want to share the lessons I bought with real money with you—who are still watching from the sidelines.
First trap: trading based on inside information
In 2023, a friend told me that some coin was going to list on a major exchange, so I all-in. It hit and instantly became a peak—then it got cut in half, and cut in half again. Later I finally understood—by the time the news reaches your ears, it’s already move number 100.
Second trap: chasing hot sectors
When GameFi took off, I chased GameFi; when AI went hot, I chased AI; when RWA became popular, I chased RWA. In the end, I didn’t hold on to any of them. Greed leads to too much, too little digestible—that’s exactly me.
Third trap: trading contracts
The moment leverage goes up, your heart starts racing. When you win, you think you’re a genius; when you lose, you realize you’re just wheat grass. “Nine out of ten” bets fail—those four words, every word dripping with blood.
The fourth trap: FOMO chasing the price higher
Watching others post their hauls makes my hands itch. Buy at the mountaintop, cut at the foot of the mountain. Following the crowd, in the end you’re left with only a sigh.
The fifth trap: not taking profits
When it rises, you want more; when it falls, you want to break even. The one who knows how to buy is an apprentice; the one who knows how to sell is the master. I only learned that after two years.
The sixth trap: messing up position sizing
Go heavy on what you think is good; go small on what you’ve just heard. No discipline—just vibes. Keep green hills, and you won’t fear running out of firewood—except I burned the whole mountain back then.
The seventh trap: don’t learn—just follow trades
Whatever others buy, I buy—never asking why. There’s a specialization in every craft, but I don’t even know what I’m buying.
The eighth trap: emotional trading
Checking the charts late at night: the more you look, the more panicked you get; the more panicked you get, the more you sell. Sell and it goes up; it goes up and you chase. A vicious cycle—worn out and exhausted.
The ninth trap: thinking about becoming rich overnight
This is the biggest trap. And the root of all traps. Wealth can’t enter through the urgent gate, but unfortunately I understood too late.
The turning point is these four words: Less is more.
How exactly to do it? In three sentences:
1. Buy only what you understand. If you don’t understand it, don’t invest—this is a strict rule.
2. Only set up DCA for two major coins: BTC and ETH—unchanging.
3. In the remaining time, go improve your ability to earn money outside the market. If you earn more out of the market, you can better hold on inside the market.
Three years have passed. I didn’t get rich overnight, but my account finally turned from negative to positive. Slow, but steady. A trickle over time accumulates into a lot.
Now I understand: in the crypto world, surviving is more important than winning once. The scenery is meant to be viewed from afar and for the long term; if you can’t think in terms of the whole picture, you can’t truly focus on one area.
If you’re struggling in the trap too, remember this: cognition determines wealth, and patience determines success.
Comment section: which is the deepest trap you’ve ever stepped into?
Just write a number: 1 to 9.
The one with the most likes—I’ll reply seriously.
If this helps you avoid even one trap, please share it with a friend who’s feeling impulsive.
Disclaimer: This article is only a personal experience sharing and does not constitute investment advice. The crypto market involves extremely high risk—proceed with caution before entering.