Honestly, when I entered the market in 2018, I knew nothing. I experienced margin calls, doubled my investments, tasted the bitterness of a bear market, and the sweetness of a bull market. Now I want to share what I’ve learned over the years, to pave the way for newcomers.

**Lesson One for Small Investors: Don’t Fool Around**
Only have 200,000 yuan? The biggest risk isn’t not making money, but losing it all in a year. The crypto market is full of opportunities, but what’s truly lacking is the patience to sit tight. Throughout the year, the real trending periods last only about 1 to 2 months; the rest of the time is just oscillations that test your patience. My current approach is to stay in cash during normal times to conserve energy, and only act when there’s a highly certain main upward wave. Catching a 30% to 50% profit in one move is much better than chasing every rise and fall daily.

**Thinking of Running Before You Learn to Walk**
People who jump into trading without fully understanding candlestick charts often end up as “frequent visitors to the leek farm” (a metaphor for being repeatedly exploited). Profits are ultimately lost back. Demo trading is your stage for trial and error, with zero cost. First, test your strategies on a demo account, then use small positions in real trading to refine your feel, and only then increase your holdings.

**Be Careful When Good News Is Announced**
When project teams suddenly announce big events, 90% of the time they’re just setting up for others to take the fall. Listing on top exchanges, signing well-known partners… if you don’t see a big bullish candle on the day, and the next day opens high and quickly slips, don’t wait to get caught. The manipulator’s tricks haven’t changed in over a decade—don’t jump into the trap yourself.

**Reduce Positions One Week Before Long Holidays**
Before long holidays like Chinese New Year, National Day, or Christmas, institutional funds have already withdrawn, and risks are high. Reduce your holdings to light or even zero positions seven or eight days in advance, and re-enter after the market stabilizes post-holiday. Many people overlook this detail.