Recently reviewing my trading records, I suddenly realized that from the initial 50,000 yuan test water to now having a stable eight-figure account, the pitfalls I've stepped on along the way are more worth talking about than the money I've made.

The market won't give you money just because you're bold. I've seen friends staring at the screen at 2 a.m., their accounts dropping from 600,000 to less than 10,000. Every time they say, "This time I must break even," but the more anxious they get, the more they lose. What's the problem? They never understood whether they were following the trend or fighting against it.

Short-term trading is essentially a game of probabilities. When the market shows a clear direction, you need to dare to follow; during sideways consolidation, you must hold back and not act. Many people do the opposite—hesitating when they should act, and going all-in when they should stay out. I used to do the same—blow up my positions, clear my holdings—but I later realized one thing: when you don't understand the market, staying in cash and waiting is a hundred times better than reckless trading.

For example, last year, a certain coin traded within a narrow range for three days, with a volatility of less than 3%. Many people in the group shouted, "It's about to break out," but when I saw the volume increase and confirmed the trend on the fourth day, I entered the market. I missed out on about 10% of potential gains, but I secured a steady 30% increase afterward. That's the value of a trend—it won't let you catch the bottom, but it helps you avoid 90% of useless fluctuations.

Of course, execution is also crucial. Stop-loss levels must be set in advance; once hit, cut immediately—no hesitation. My current rule is that a single loss should not exceed 2% of the total position, and profit targets should be at least three times the stop-loss. It sounds conservative, but this set of rules has helped me avoid countless black swan events.

In short, making money in crypto isn't about luck or insider information. The market is always here, opportunities are always available, and what’s truly scarce is the ability to stay clear-headed amid panic and greed. Before understanding the trend, it's better to miss out than to act recklessly—this is a lesson I learned with real money.