With eight years of experience in the crypto world, I have witnessed the rise and fall of many people—some disappear after celebrations, while others hold firm during bear markets. From starting with over 200,000 yuan, dropping to a low of 50,000 in my account, and now reaching this scale, this journey has taught me a simple truth: in the crypto market, mindset and discipline are far more important than technical indicators.

Many people are obsessed with candlestick charts and various indicators but overlook more fundamental things. I’ve seen many "technical experts" confidently bullish during a bull market, only to vanish during a bear market. What’s the real difference? It’s whether you can stay rational during market frenzy and not be overwhelmed by fear during sharp declines. On the day of the 2022 LUNA collapse, I didn’t sell early because I predicted perfectly; I just couldn’t sleep because my position was too heavy—so I chose to reduce half of my holdings in advance. That’s not cleverness, but an instinctive response to risk.

Set a clear stop-loss line for yourself. My approach is quite "simple": write the maximum loss limit on a sticky note and stick it next to my computer. "Stop if daily drawdown exceeds 10%"—it sounds clumsy, but it’s this discipline that has saved me countless times.

Money management is even more critical. When my initial capital was small, I never let a single position exceed 10% of my total funds. Many newcomers rush to double their money, but experienced traders care more about how to survive long enough. When opportunities arise (like Bitcoin breaking out after a long sideways trend), I try small positions to test the waters and keep a feel for the market. The rest of the time, I wait for that one real big move.

There’s also a technique to averaging down. When the price drops by 10%, add to your position in batches; if it drops another 10%, stop adding and let the market play out. Sometimes holding on stubbornly works, but don’t let your position become so heavy that you can’t sleep—protecting your principal always comes before making that last dollar.