There is a friend who achieved financial freedom through cryptocurrency trading, and his experience can be described as a real-life "crypto legend," becoming an inspirational textbook walking around in our circle of friends. Now he travels the world every day, experiencing the "troubles of having too much money to spend" in a Versailles-like manner~
Three years ago, he was just an ordinary office worker with a 9-to-5 job, earning a five-figure salary. The turning point in his fate began with a blockchain technology seminar. At that time, he couldn't even distinguish between Bitcoin and Ethereum, but with the research spirit of a STEM guy, he dove headfirst into the deep sea of cryptocurrency.
What truly enabled him to achieve a class leap was an obscure altcoin at the time. In the winter of 2018, when everyone was lamenting the crash of mainstream coins, he turned his attention to the newly launched Chainlink (LINK). At that time, the discussion volume of this project in crypto forums was still in the double digits, and its price lingered around $0.3 for a long time. He spent two whole weeks studying the white paper and even circumvented the Great Firewall to track the development team's movements in overseas communities, ultimately concluding that this oracle project would bridge the "meridians" between blockchain and the real world.
Of course, the road to wealth is never smooth. After entering the market, he faced a 30% unrealized loss that kept him awake at night. While his friends were cutting losses and leaving the market, he was at his desk repeatedly calculating the project's valuation using Excel. During the most agonizing times, he even ate instant noodles for a month just to save his salary for additional investments. This persistence paid off in 2020—when LINK broke through $30, two zeros quietly appeared behind the numbers in his account.
In addition to this epic operation, his layout during the DeFi wave was equally impressive. In early 2021, he heavily invested in UNI and SNX, reaping 5-10 times returns during the liquidity mining frenzy. However, he is not an invincible general; having once experienced a 40% liquidation due to shorting BTC, he still maintains a sense of awe towards contract trading.
Now, he has long bid farewell to the 996 work culture, watching the market while listening to the waves in the Maldives and reviewing trades under the snowy mountains of the Alps. Here are nine survival rules from this "crypto veteran," earned with real money:
1. Know when to take profits#
When your account's unrealized gains exceed expectations, immediately withdraw 50% to lock in profits. Set a trailing stop for the remaining position to avoid falling into the greed trap of "wanting to turn 1 million into 10 million." Remember: the market always has opportunities, but your principal is only once.
2. Reflect on losses exceeding 10%#
If you incur a 10% loss in three consecutive trades, stop trading for two weeks. Use this time to review your trading logs and distinguish whether it was a systemic market risk or a personal judgment error. Avoid the mindset of "let's take a gamble" to average down.
3. Avoid unclear opportunities in short-term trading#
See a coin suddenly surge? First, ask yourself three questions: Who is the project team? What recent positive news is there? Where is the money flowing? If you can't answer any of these questions, it's better to miss out than to engage.
4. Follow coins that have risen over 50%#
When a coin shows a "rocket" pattern on the daily chart, especially accompanied by frenzied social media promotions, this often signals that whales are offloading. Remember: by the time you see good news, the big players have already positioned themselves.
5. Control emotions during high-volume peaks, don't be envious#
If a coin suddenly spikes after a series of gains, check the weekly chart for its position. If it is at a historical high and the trading volume is more than three times the usual, it is likely that the main force is offloading.
6. Buy low in weak markets, buy on dips in strong markets#
When Bitcoin is consolidating, look for active small coins; in a bull market, build positions in batches when there is a 10%-15% pullback. Never chase prices in a FOMO (fear of missing out) mindset; learn to pick up chips during panic sell-offs.
7. Don't increase positions without 100% certainty; phased entry is safer#
New positions should follow the "333 principle": initially invest 30%, add 30% on a 10% pullback, and then add 40% after breaking the previous high. Each additional investment must be supported by new technical or fundamental analysis.
8. Operate within familiar patterns#
Only trade three types of coins: leading coins (BTC/ETH), potential coins that you have deeply researched, and coins with clear event-driven catalysts. Never be tempted by the hype of "tenfold coins."
9. Don't easily participate in weekly pullbacks#
When a coin's weekly chart falls below the 30-day moving average and the MACD shows a death cross, wait at least two weeks for stabilization signals. "Bottom fishing" in a downtrend often turns into "catching falling knives."
These experiences, earned through seven-figure investments, essentially convey the same message: there is no holy grail in the crypto world, only a continuous struggle against human weaknesses. When you learn to execute strategies with the discipline of a robot and view volatility through the eyes of a philosopher, financial freedom may just be a matter of time.
OKX Activities This Month#
New users registering on OKX this month can receive a mystery box or a Dogecoin gift package. You can register directly in China: Click here –> Go to the official website to register an OKX account; some regions may require a VPN or alternative link
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