Goodbye,韭菜: Lessons from 3 Years in the Crypto Market – Survival Rules I Learned from 7 "Traps"
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Goodbye,韭菜: Lessons from 3 Years in the Crypto Market – Survival Rules I Learned from 7 "Traps"
The market doesn't owe you anything; staying humble is the only way to remain in the game.
Navigating Web3 tides with focused insightsBy: Paul G
Translation: Baihua Blockchain
If you ask me what my biggest takeaway from the crypto market over the past three years has been, I’d tell you it’s not the thrill of massive rallies or the panic of steep crashes—it’s the profound lessons learned from falling into countless “traps.”
Three years ago, I entered the market chasing dreams of overnight wealth, imagining an easy path to financial freedom. But reality turned out to be a harsh teacher, using repeated mistakes to teach me respect for the market.
These past three years have felt like an intense jungle expedition—and these seven “traps” are the map and compass I’ve earned through real losses.
The Trap of Over-Trading: The Lesson That Less Is More
When I first started trading, I was obsessed with staying “active.”
Every single candlestick looked like an opportunity; every uptick felt like potential profit. But I quickly realized that high trading frequency doesn’t equal higher profits.
In fact, frequent trading often left me poorer and full of regret. Remember how I thought I had to participate in every trade? That mindset nearly cost me everything.
More trades do not mean more gains.
In hindsight, I’ve learned that doing nothing is often the smartest move. If the market isn’t offering you a clear edge, why force a trade?
Would you rather take five mediocre trades, or wait for one exceptional opportunity?
The answer seems obvious now—but it took real money and painful experience for me to truly understand it. Trading out of boredom is just as reckless as chasing pumps without research—a recipe for disaster.
Fatigue Is the Enemy of Good Trading
I wish someone had drilled this lesson into me earlier: Never trade when exhausted.
I once believed I could pull all-nighters, eyes locked on charts like a hawk watching its prey.
Well, I was wrong.
My decisions became as unreliable as a buggy smart contract. Honestly, how many successful trades have you made after pulling an all-nighter?
Exactly—almost none.
Mental fatigue hits harder than a flash crash. When you’re drained, your brain takes shortcuts, and those shortcuts usually lead straight to bad decisions.
Don’t trade when tired.
I’ve repeatedly ignored stop-losses and risk management just because I was too stubborn to step away. Now, I treat sleep as non-negotiable. If I’m not mentally sharp, I stay out of the market.
Never Break Your Trading Rules Lightly
One of my hardest-earned lessons: rules aren’t just guidelines—they’re lifelines.
In the beginning, I thought I was smarter than my own trading plan. “Just this once,” I’d tell myself, moving a stop-loss or increasing position size.
Sound familiar? It should—every trader has been there.
But here’s the truth: your rules exist for a reason. They were forged in the fire of painful experience.
Breaking them is like navigating a bear market with no strategy—getting crushed is only a matter of time.
Discipline isn’t about being perfect. It’s about doing the right thing even when it feels uncomfortable.
I’ve come to realize that the best traders aren’t those who never make mistakes, but those who stick to their rules even when they do.
The Emotional Rollercoaster: Managing Your Mental Energy
Now let’s talk about something most traders ignore—until it bites them: mental energy.
Have you ever fallen into a losing streak where each trade gets worse than the last? I have. It feels like trying to recover funds from a rug-pulled project.
Sometimes, the best move isn’t another trade—it’s stepping away completely.
This lesson hit home during one of the toughest phases of my trading journey. I kept adding to losing positions, convinced I could brute-force my way back to profitability.
What saved me in the end? Rest.
Walking away gave me the clarity I needed to start fresh. After all, what good is technical analysis if your mind is as chaotic as funds in a hacked exchange?
Risk Management: The Humble Secret to Survival
Let’s be real—risk management might not sound glamorous, but it’s the backbone of successful trading.
Most traders obsess over entry points, as if they hold the holy grail, but the real magic lies in exit strategies.
Have you ever nailed the perfect entry, only to give back all (or more) of your profits because you had no exit plan? Yeah, we’ve all been there.
Position sizing, stop-losses, and risk-reward ratios may not be exciting, but they’re fundamental to surviving in the crypto market.
Ask yourself: would you rather have ten small wins, or suffer one catastrophic loss that wipes out your account?
The choice seems obvious, yet so many traders overlook these basics.
Remember: in crypto, survival is victory.
The Monster of Ego: Staying Humble During Bull Markets
One of the hardest truths to accept: the market doesn’t care about your ego.
Nothing inflates a trader’s self-image faster than a big win. Suddenly, you feel like a prophet who can predict tops and bottoms, as if you’ve cracked the market’s code.
But reality always delivers a wake-up call—the market has a way of reminding you who’s really in charge, especially when you least expect it.
Early in my trading journey, after some solid gains, I began to think I knew it all.
Fast forward to the next cycle—my “sure-win” trades got ruthlessly crushed by the market.
The market owes you nothing. Staying humble is the only way to remain in the game. Trust me, your pride isn’t worth risking your portfolio.
The Illusion of Edge: Knowing When to Do Nothing
Here’s a slightly controversial idea—sometimes, your greatest edge is knowing when not to trade.
Too many traders force bets in areas they don’t understand, believing they must stay constantly active. But ask yourself: would you rather take a mediocre trade, or wait for the right opportunity?
I follow a simple rule—if I can’t explain my edge in one sentence, I won’t trade.
This approach has saved me from countless bad decisions. Remember: the market isn’t going anywhere. Opportunities will always be there for those with patience and discipline.
Conclusion
At the end of the day, successful trading isn’t about flashy wins or getting rich overnight. It’s about consistently avoiding costly mistakes and preserving capital until the odds are truly in your favor.
Each point I’ve shared comes straight from personal experience and painful lessons.
So the next time you feel tempted to make a reckless trade or break your own rules, remember these principles.
They won’t guarantee instant success, but they’ll keep you in the game long enough to catch real opportunities. After all, in the world of crypto, endurance is the ultimate winning strategy.
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