Written at the beginning:
Thanks to all the major accounts in the square (sorted by acquaintance time) @颜驰Bit @Crypto交易员朱一旦 @无邪Infinity @K线教主宝宝 @币毒 @Nuts坚果 . There are many big names, but not everyone suits you; finding the one that suits you best is the most important.
Key points extracted:
1. Newcomers should first learn to lose money (revere the market)
2. Find a trading cycle that suits you
3. Dead bulls and dead bears will die (trade along with the trend)
4. Win based on loss (stop loss is very important, both for spot and contracts)
5. When it comes to the point of taking action, even if I buy wrong, I must buy (with stop loss, no fear)
6. Don't be afraid of spot when it stops falling (there are plenty of coins that drop 90% in a day)
7. Don't go all in (leave some green mountains, don't be afraid of not having firewood to burn)
8. Don't be greedy (it's hard, but if you do it, it's really impressive)
One, first entering the coin circle (first liquidation)
Entered the coin circle in April 2024 (at that time, the price of Bitcoin was around 63,000), with an expected annual return rate of 30%, I purchased Bitcoin and a bunch of altcoins. I caught a wave of rising market at that time, and in just 2 months, I made a 50% profit with my eyes closed, far exceeding my investment expectations. I thought to myself, this coin circle is too easy, isn't it like picking up money? At this moment, my confidence was overflowing, and I started to play contracts. Initially, I adjusted my annual return expectation from 30% to 10 times in a year. On August 5th, everyone should still remember, 2-3 times contracts basically exploded cleanly, as can be imagined, as a newcomer, the result of high multiples contracts was——I liquidated.
Two, coming back again (second liquidation)
After the first liquidation, I was depressed for a week. After summarizing experiences and reviewing, I adjusted my strategy: reduce the contract multiples, and don't go all in. There were profits and losses in the process. Although many times the opening positions were not good, because the multiples were low, I could add positions to pull the average price, and basically could hold it back. Because I could hold it back every time, I always felt that as long as my multiples were low, the anti-position was no problem. However, the process of anti-positioning was really very uncomfortable and torturous, wanting to watch the market all the time, hardly sleeping every day. This also led to many impulsive behaviors (not reducing positions when breaking even, not running away, not believing that it can drop so much, must profit to close the position; later I heard a term called loss aversion and learned a saying: stop loss is your trading cost. At that time, I didn't understand, but now I deeply appreciate it). As time passed, on February 3rd, I liquidated again. Compared to the first liquidation, my mindset was a bit better this time, after all, I had experience...
Three, I will never play contracts again (third liquidation)
After the last liquidation, I set a rule for myself to never touch contracts again. The wave rise of altcoins is also quite considerable. The rule was set, but I completely didn't follow it. After stopping contracts for about 10 days, I started opening positions again. This time, I made small profits on several rebounds, mistakenly believing that every drop could V up, so I started the anti-position operation during the second liquidation process. In a large downward trend, I held long positions of ETH from 3300 until liquidation.
Capital loss: 5% Minor issue, not a big deal
Capital loss: 15% When the loss reaches 20%, I must stop loss
Capital loss: 20% It feels stable, should be able to come back
Capital loss: 30% I must run when the loss rebounds to 20%
Capital loss: 15% I feel the trend has changed, wait a bit more
Capital loss: 30% Should be about right
Capital loss: 50% I added positions at the bottom
Capital loss: 80% Anxious and irritable, I've never seen ETH below 2000
Capital loss: 90% There's almost nothing left, if you have the ability, explode me
Capital loss: 100% I exploded again
Four, steady as an old dog (close all long positions before the highest point, take profits on short positions 3 times, continue to hold the bottom warehouse)
After liquidating 3 times, I wanted to give up on the coin circle, but I really couldn't bear it. What good methods can change this? In a few live broadcasts of the square, I suddenly realized (although it was about coins, it was actually about people). My opponent is not the庄, my only opponent is myself and other retail investors. It was also through these three liquidations that I truly understood those golden sayings that everyone could casually say.
1. Dance with the庄, if you can't beat them, join them
2. Stop loss is your cost
3. Win based on loss
4. Don't eat the last 20% profit
5. Position management is very important
What I need is to constantly remind myself to strictly follow the strategy I set, the execution process will be very stable, and a good mindset is not easy to make wrong decisions.
a. Once the stop loss is set, it must not be changed; small losses and large gains.
b. Once the profit is set, it must not be changed; first secure the profits, if it rises, eat a bit more, if it falls, it's okay to stop loss at cost.
After strictly requiring myself through discipline, the overall status is currently small losses and large gains. I was surprised to find that the win rate is actually very low, 75% of the contracts were stopped out, but the 25% winning contracts multiplied the account by 5 times. During stable profits, I continuously took out the contract account capital to invest in some stronger coins in the spot market. When the spot rises, I sell a little; when it falls, I slowly add a bit. Recently, during the drop, I steadily added to spot, and absolutely no contracts are opened without a good position.
Five, recent status
Occasionally look at the market, sleep very soundly (stop profit and stop loss are very clear, the result doesn't matter). The contract only has the bottom warehouse slowly running, while the spot is trapped, gradually adding. The next wave of the market has most of it.
Written at the end:
If you want to make money, you have to put in effort. Learn more, watch more, and spend more time. Effort is always proportional to return. Don't expect any teacher to lead you to wealth; rely on yourself.
Don't be greedy, it's very difficult. But if you can control yourself, making a profit is really not hard. Low proportion of compound interest is also very scary.
Ps: The account is written rather chaotically, I hope it can help everyone