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 among our circle of friends. Now he travels the world all day, experiencing the "troubles of having money with nowhere 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-digit 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. During 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 project had less than three-digit discussion volume on crypto forums, and its price lingered around $0.3 for a long time. He spent two whole weeks studying the white paper and even bypassed the Great Firewall to track the development team's movements in overseas communities, ultimately concluding that this oracle project would connect the "Ren and Du meridians" of blockchain and the real world.
Of course, the road to wealth is never smooth. After entering the market, he faced a 30% floating loss that kept him awake at night. While friends around him were cutting losses and exiting, he was repeatedly calculating the project valuation on Excel at his workstation. 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, his account balance silently added two zeros.
In addition to this epic operation, his layout in 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 remains cautious about 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 floating profits 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 available 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 due to systemic market risks or your own judgment errors. Avoid the mindset of "taking 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 up on coins that have risen over 50%#
When a coin shows a "rocket" trend 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 surges, don’t be envious#
If a coin suddenly spikes in volume after a continuous rise, check the weekly chart for its position. If it’s at a historical high and the volume is more than three times the usual, it’s likely that the main players are offloading.
6. Buy low in weak markets, buy on dips in strong markets#
Look for active small coins when Bitcoin is consolidating, and build positions in batches during a 10%-15% correction in a bull market. Never chase prices in a FOMO state; learn to pick up chips during panic sell-offs.
7. Don’t increase positions without 100% certainty; phased entry is safer#
Follow the "333 principle" for new positions: initially invest 30%, add another 30% on a 10% pullback, and add 40% after breaking previous highs. 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 breaks 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 with the perspective 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 blind box or Dogecoin gift package. In China, you can register directly: 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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