I've heard many stories about losing half a month's salary in just three days after entering the circle, and recently I saw a case of a Newbie crashing due to XRP trading, which immediately reminded me of myself eight years ago.

At that time, I came in with 20,000, a typical chase the rise and kill the fall operation. As a result, the hot coins got stuck right away, and using leverage caused a direct explosion, reducing my account from 20,000 to 8,000. I almost smashed my phone. After lying down for three days, I began to reflect, and later realized one thing: surviving in this circle is a hundred times more important than how much money you make.

The upcoming changes rely on three lines of defense.

**First Rule: Position management leaves no room for greed**
No matter how tempting the opportunity, the first entry should not exceed 30% of the total capital. Last year, when I was bottom-fishing, I did it this way: first invested 30% to test the waters, and then added to my position in batches once the trend was confirmed. The benefit of this approach is that it allows you to seize the market while keeping enough capital to recover losses. The principal is the most scarce resource; opportunities arise every day.

**Second rule: Take profit and stop loss must be executed precisely**
I once lost 2000 because I couldn't let go of my profit positions due to greed. Since then, I have followed strict rules - cut losses at 4% immediately, and set take profits within the range of 8% to 12%, exiting as soon as it hits. Don't expect to catch the last penny; it's better to earn less and preserve the principal.

**Third rule: Only invest in projects you understand**
In the early years, I followed KOLs and invested in some air coins, losing half of my investment in three days. The current standard is to only engage with projects whose white papers I can understand, whose teams can be verified, and that have real-world use cases. I would rather miss out on opportunities than fall into pitfalls.

In the past four months, I executed 56 trades, with a success rate of 68%, netting 80,000 yuan. To put it simply, I don't chase trends, I don't go all in, I make more trades when the market is good, and stay out of the market during fluctuations.

A final sincere word for newbies: The market is always there, and opportunities will always arise. As long as your account is still alive, you still have the chance to act. Opportunities for Bitcoin, Ethereum, and various tokens will come, but the prerequisite is that you have to survive until that moment.