Stop looking at the candlestick chart; what truly determines your profit or loss is your mindset.

After 8 years of navigating the crypto world, I’ve summarized a set of rules for surviving multiple bull and bear cycles—calling them "iron laws" is no exaggeration, because accounts that violate them either get wiped out or are trapped in despair.

**Human nature is the biggest enemy in trading**

Don’t chase highs when prices are going crazy, and don’t cut your position aggressively when prices plummet. This sounds obvious, but few people actually follow through. Many get wiped out at this point—losing their minds during mania and unable to resist selling in despair. My approach is to set mental boundaries: automatically stop when reaching a certain profit level, and remind myself to think in the opposite direction when prices fall to a certain point.

**Full position is a gamble with fate**

I’ve seen many big players go all-in in one shot, only to see their accounts vanish in three to five months. I never do that. Always keep some cash on hand, like holding a card in poker. The real opportunity for massive wealth often comes when prices crash—if you dare to buy the dip—and that requires having spare funds.

**Consolidation is waiting for signals**

After a month of sideways movement, many start guessing the direction blindly, only to get slapped in the face. My experience is: don’t act without a clear trend. Missing a wave isn’t deadly; guessing the wrong direction is where the big losses happen.

**Buy in stages during sharp declines, sell in stages during sharp rises**

When everyone is panicking during a crash, that’s actually the time to add positions. But don’t go all in at once—do it in several batches, increasing the position as prices fall. Similarly, when prices are rising happily, control greed and take profits gradually. This helps average down your cost and keeps your mindset stable.

**The speed of decline is telling**

A slow decline usually indicates orderly withdrawal of funds, and at this point, you should run quickly. But if it’s a vertical plunge, it’s often a shakeout by the main players or panic at the end—this can actually be an opportunity. The approach to these two types of declines is completely different.

**Don’t rush to build a position; add gradually as prices fall**

Many jump in all at once, aiming to get rich quick, only to run out of bullets as the market keeps falling. My rhythm is to start with a small position, then add more as the decline continues. This reduces your average cost and keeps your mindset steady, preventing you from being shaken out.

**Storms often come before consolidation**

Long-term sideways movement may seem boring, but it’s actually accumulating energy. During this period, don’t be greedy and go all in or out; wait for a breakout signal before adding to your position.

Over 8 years, the real secret to survival is these 7 rules. Don’t rely on technical analysis to predict the market instantly; ultimately, trading is about who can control their greed, stay rational during panic, and manage funds scientifically and reasonably. Bear markets teach humility, bull markets test greed—master these two, and you stand a better chance of surviving long-term in this market.