33 years old, from Shandong, settled in Hangzhou, owns two properties—behind these identities is a true reflection of my 8 years of professional trading.

Looking back, my initial startup capital was just over 200,000 yuan. During the toughest times, my account balance dropped to only 50,000. But with a trading system that seemed not very clever but highly pragmatic, I eventually grew that amount to hundreds of millions. What I’m sharing today is not some secret to overnight wealth, but survival lessons forged from blood lessons.

**1. Mindset is the biggest enemy**

Honestly, the difficulty in the crypto world isn’t technical analysis or market judgment. The biggest challenge is human nature.

Getting excited when the market surges, panicking when it halves—this is normal. But the more such moments occur, the more you need to hold back that finger that initiates trades. The first iron rule I set for myself is: "The crazier the market, the clearer your mind must be."

I’ve experienced days of stubbornly holding through a crash, and also the regret of rashly selling at the early stage of a rally. After so many years, I’ve discovered a pattern—most of the real gains come from correct decisions at just a few critical moments.

Viewing investing as a marathon rather than a sprint helps stabilize your mindset. Frequent trading turns you into a harvester; only by grasping the big rhythm can you avoid being cut.

**2. Living to make money is more important than quick wealth**

Regarding capital allocation, I have a few strict rules:

**Never go all-in.** I habitually keep about 30% in cash reserves. When the market drops, this money allows me to add positions; when it rises, I won’t miss opportunities. Especially for medium- to long-term holdings, liquidity is that life-saving straw.

**One big cycle per year is enough.** The cyclical nature of crypto is very obvious. During bull markets, I concentrate on building positions; during bear markets, I focus on learning and observing. I remember the DeFi wave in 2020 and the Rune protocol craze in 2024—I started positioning half a year in advance, and after riding the entire main rally, I decisively exited. This rhythm can generate substantial returns within a year or two.

**Stop-loss should be instinctive.** If the direction is wrong, accept the loss immediately. Don’t fight the market; it’s always more stubborn than you. I once stubbornly held onto a project and ended up losing 30% of my principal. After that, I set a rule—if a single loss exceeds 10%, I stop out unconditionally.

This approach may sound simple, but it’s precisely because of this "dumbness" and persistence that I’ve survived every major cycle. Risk management is always the top priority.