#数字资产市场洞察 From account multiples of hundreds to profit zeroing out—the 2020 DeFi wave taught me what "paper wealth" really means, at the most expensive cost.

I still remember the moment I bought DYDX at $5, watching it surge to $500, that thrill is beyond words. The numbers in my account skyrocketed like a rocket, as if all financial freedom was within reach. Unfortunately, the market wasn't so gentle—the wave receded, and the price plummeted to $50, nearly a hundredfold unrealized profit evaporated in an instant.

The most heartbreaking part wasn't losing the principal, but watching the huge wealth once in my hands slip away from my fingertips just because of a "wait a bit longer" remark. That suffocating feeling at that moment was deeper than any technical bankruptcy.

This lesson made me realize clearly: in the crypto market, finding opportunities requires vision and luck, but truly taking profits is the real skill.

**How to take profits? I use a "pyramid" approach with decreasing levels.** When profits reach 10x, sell 20-30%, ensuring you recover your capital while continuing to participate in subsequent trends. When reaching tens of times, take profits in batches, turning large gains into tangible assets. For the remaining position, set a "trailing stop"—if it retraces 20% from the peak, exit immediately, avoiding rollercoaster rides.

**The one and only rule for stop-loss: capital preservation is the bottom line.** Each trade's potential loss is strictly controlled within 5% of total funds. When buying, set your stop-loss order right away. "FOMO selling" is regrettable, but "being trapped" and "margin calls" will directly kick you out of the next game.

The market rewards patience, but only those who know when to "get off" leave their wealth behind. The real risk often hides behind the biggest gains; the smartest investment is to ensure you never fall out of the game.

The crypto market is not short of opportunities, but what’s lacking is the confidence not to step into pitfalls.