People with money are the most likely to hit a wall, not because they lack opportunities, but because they lack discipline.

That summer of 2016, I was still busy at a night market stall, dealing with the smell of oil fumes, only able to rest around 2 or 3 a.m. until I read an article about Bitcoin, and suddenly I felt struck by lightning. That’s when I realized—without taking risks, life will never have any surprises.

I grit my teeth and started trading with the 30,000 yuan I had saved up over three years, and everyone around me thought I was crazy. Looking back now, in these eight years, I’ve grown my principal to five million yuan and bought three houses. It’s not luck; it’s because I’ve stepped on too many pits and summarized a way of life.

**1. After a rapid rise, slow decline—don’t rush to sell off—this is usually the market maker eating up chips at low levels**

After BTC’s price skyrocketed, it began to slowly retreat, and many people would panic and sell quickly. Actually, most of the time this isn’t a crash, but funds quietly accumulating at the bottom. I experienced this early in my career. In 2017, Bitcoin surged from $5,000 to nearly $20,000, then started to drag and fall. Seeing my account shrink, I couldn’t resist and cleared all my positions. A few weeks later, a new wave of market activity began. I later realized that market oscillations are like breathing—small fluctuations don’t require overreaction every time.

**2. After a big drop, a weak rebound—don’t try to catch the bottom—be careful of market makers offloading**

After a sudden dump, the rebound often lacks strength; it’s probably big players selling off. Trying to buy the dip at this point is like catching a flying knife. On that "Black Thursday" in 2020, Bitcoin halved in one day, and the market was in chaos. Some people thought it was cheap and rushed in, only to get trapped badly.

**3. Don’t act rashly during sideways consolidation—wait for signals before entering**

When the price oscillates within a range repeatedly, it indicates a tug-of-war between bulls and bears. This tests your patience—don’t trade frequently just out of boredom, as trading fees and emotional tolls can be significant.

**4. When breaking through key levels, chase but set stop-losses**

Sometimes the price breaks previous highs or important support levels, which usually signals the formation of a new trend. But only if you know where your loss threshold is—stop-losses must be firm.

**5. When news and technical signals conflict, trust the technicals**

Various positive and negative news flood the market, but the candlestick charts won’t lie. They directly reflect the real flow of funds.

**6. Don’t be too greedy when making profits, don’t hold on stubbornly when losing**

This is the most obvious feeling in this industry. When you see profits, you want to double them, but end up giving it all back. When losing, you think about recovering, but the hole only gets bigger. Set profit targets and take profits; accept losses and cut losses—this is more important than anything.

Trading is a psychological game. Tools and knowledge are not the hardest part; controlling your desires is. Over these eight years, I’ve seen too many people make big money and then lose it all—not because their methods were wrong, but because they lost their composure at critical moments. I hope my story can help friends avoid some detours.