Discipline and patience are more valuable than intelligence

I have been trading cryptocurrencies for eight years. Looking back over this period, from losing hundreds of thousands initially to now being able to profit steadily, the deepest insight I’ve gained is this: making money is not about predicting correctly, but about how to respond correctly.

I used to be a die-hard fan of technical analysis. I spent hours every day studying various indicators, drawing trend lines, watching MACD, monitoring RSI, thinking that mastering these tools would help me understand the market. But reality was harsh— the more complex the strategy, the more likely it was to break down in actual trading. The money earned in a bull market was all lost in the bear market, and my account was like a roller coaster.

It wasn’t until I completely gave up the idea of "guessing the market" and adopted simple, straightforward methods that my account truly stabilized. Today, I want to share the core lessons I’ve learned over the years, in plain language, hoping to help everyone avoid detours.

**The Cost of Entering the Market**

When I first entered this space in 2017, I knew nothing. Seeing others making money made my eyes turn red. I blindly bought altcoins and lost most of my principal in less than half a year.

After losing everything, I swung to the other extreme—superstitious about technical analysis. I thought that mastering various indicators would allow me to beat the market. But what happened? I found that the more complex the trading system, the more bugs it had.

**Frequent Trading is the Biggest Killer**

Data shows a brutal reality: retail investors trade an average of 18 times more frequently than institutional investors, yet their returns are 72% lower. Why? Every trade incurs fees and slippage, which can eat up 30%-50% of your profits. I used to trade more than ten times a day, and only then did I realize— I was just working for the exchange.

Even more deadly are leveraged contracts. High leverage seems to promise quick riches, but in reality, it’s gambling with probabilities. A single pullback can wipe out your position, and many people's principal is lost this way.