Having been active in the crypto market for over ten years, I want to use a new account to organize these years of thoughts.

At 37 years old, looking back, I started in 2014 with 60,000 yuan borrowed as principal. Honestly, I had no confidence at that time. Now, with my account balance exceeding eight figures, to be honest—the process has been quite complicated. No divine luck, no shortcuts, just one pit after another, reflecting after each fall, and climbing back up after reflection.

Over the years, I’ve tried all kinds of trading styles. Starting with long-term holding, then moving to ultra-short-term trading, and later to intraday swings—each one I’ve dedicated real effort to. Someone asked if I understand technical analysis; I wouldn’t dare say I’m a top expert, but I can really say—when it comes to losing money, my understanding might be much deeper than most people.

I’ve seen too many ups and downs. Turning a few tens of thousands into hundreds of millions, only to be wiped out in a single bear cycle. If you say their skills are poor, actually that’s not the case. The problem lies in a habit—the habit of holding on. They’re used to holding on, and when luck runs out and bullets are exhausted, a single pullback wipes out all their gains. Some might have held through a hundred such situations, but as long as there’s one they can’t withstand, it’s not just a small loss—it’s zeroing out.

There’s another phenomenon I find most speechless: once someone starts losing money, they become “anxious.” When they get emotional, they want to quickly recover their losses, but the result is chaotic trading, ending up in total loss. I’m not a saint; I also have moments of losing control. But one thing I know very clearly— you must admit that the market won’t turn according to your will. If you think it will go up, it might not. If you judge it’s a trap, it might not be a trap either. When you’re wrong, you need to walk away; stubbornly holding on only leaves one way out—dead end.

In the end, trading crypto boils down to two tests: first, can you resist the urge to act? Second, can you sincerely admit you’re wrong? Third, can you always follow the rules? It may sound unpleasant, but many people are not incapable of making trades—they just refuse to accept losing. This stubbornness might be okay in the right path, but in trading, it becomes a fatal flaw.