Overseas A8pro trading experience: Dare to take profitstop loss, slow is fast, recognize the real god BTC

Source: Miles Deutscher*&*Zeneca

Compiled by Odaily Planet Daily (@OdailyChina)

Translator: Wenser (@wenser 2010)

Editor's note: With the gradual weakening of the Trump effect and the gradual spread of the impact of the world economic and political situation, including mainstream cryptocurrencies such as BTC recently experienced a sharp decline. There are voices in the market claiming that 'the bull market has ended, and the bear market has arrived'. The recent sluggish meme coin market and the AI Agent concept token projects have once again awakened people's fear of the bear market. The more you are in this moment, the more important confidence is. In view of this, Odaily Planet Daily will combine the 'experience posts' of two top English-speaking A8 level experts to sort out many experiences and lessons that can be learned from them, for readers' reference. Hopefully, when spring comes and flowers bloom, every practitioner in the cryptocurrency industry can see the clouds part and the moon shine.

NFT giant whale, A 8 major V Zeneca: sell Fei Yongzhuan, sell screenshot

In the last cycle, I made eight figures. Here are a few points of experience I have learned:

1. Sell Fei always makes a profit

It's usually better to sell early, even if you miss out on profits, than to hold on for too long and go back and forth.

This is because, in the end you will find that almost everything will tend towards zero.

So, even if you sold early and missed out on some profit, looking back at this decision in the following months or years, you are truly a genius!

###2.Screenshot is sold

If you have taken a profit screenshot of how much money you have made, then choose to sell at that time.

Of course, you don't have to sell all your positions, but usually reducing by at least 20-50% would be a good opportunity.

3. Ignore the noise

Most people have no idea what they are talking about on X platform and cryptocurrency-related applications.

The loudest and most confident voices are often the most ignorant; while those who are quiet and self-reflective are full of wisdom.

4. Confidence cannot be borrowed

It is obvious that you cannot borrow confidence to buy from others.

If you are told that something you bought or that someone else bought is going to the moon, you are almost certainly going to get rekt.

Then these people will push the responsibility onto you, while you are anxiously waiting for their next tweet or YouTube video to tell you what to do next.

5. Don't mind the opinions of others.

Stop trying to leave a deep impression on people anymore.

This is just a common and general life advice, but it is especially applicable in the field of cryptocurrency.

Want to leave a deep impression on friends and family, make them like you, pay attention to you, this is one thing.

But wanting to leave a deep impression on strangers online to gain attention? Don't be silly.

Bitcoin is the only true god

First there was Bitcoin, and then everything else.

It took me a long time to truly realize this.

Yes, the market performance of altcoins occasionally surpasses Bitcoin—sometimes for a long period of time—but basically, in the long run, everything will flow towards Bitcoin.

Most people try to profit from these altcoins far exceeding the gains of Bitcoin through trading; possibly less than 5% of people can actually achieve this.

This is like trying to outperform the S&P 500 index fund.For most people, the best way to invest is to buy index funds directly.

7. Don't let the FOMO of following the crowd blind your eyes

The cryptocurrency industry always has a way of twisting your thoughts, almost like a mental illness.

In the last cycle, many of us refused to sell a set of word pictures (NFTs) for $50,000 because we thought 'it was undervalued.' Many other smart people did the same, and you are no exception.

The herd mentality is real, and it takes a lot of courage to go against the trend here. You should try to do this.

8. More contact with the real world, don't lose the true concept of money

From now on, try to broaden your horizons and spend some time with people outside the cryptocurrency industry.

1 SOL or 0.08 ETH may not seem like a lot of money (unit bias does exist), but think about how much money you can accumulate every day or every year, and then think about what you can do with this money in real life.

In addition, most people are very excited about getting a 10% return on investment within a year, which is reasonable.

In fact, this number is a very good rate of return, but cryptocurrency distorts all concepts of investment returns and so on.

9. Focus on the compounding effect and seize certain opportunities

The compound interest effect is amazingly powerful.

In fact, you don't need to find a 100-fold increase. Usually, a series of 2-fold increases is good enough, and it's even difficult to achieve compound growth at a rate of 10-50% per year (calculate, have you ever thought about the craziness of high percentage compound interest after many years?) (Odaily Planet Daily Note: Here it means explosive growth similar to exponential growth).

Another way to put it is: "Most people overestimate what they can achieve in one year and underestimate what they can achieve in ten years."

A crypto researcher who lost an A7 and made it back Miles: timely profit and stop loss, respect every penny

Here are 10 hard lessons I learned after paying millions of dollars in tuition fees.

Undoubtedly, each cycle of cryptocurrency will help you perform better in emotional management.

For me, 2021 was a year of disaster. At that time, my assets reached seven figures, but in the end, I almost lost everything.

However, in this cycle, my investment performance has improved. Although the drawdown still surprised me, most of the investment returns have been preserved. There is no way, in the cryptocurrency field, you can never stop learning.

1. It is better to sell early than late.

I have never regretted selling a certain coin, but I always regret not selling it in time to lock in profits.

It's better to take profit gradually and make a profit than to sell too late and end up with little profit.

2. The take profit is just to take profit

Many times, I chose to convert profits into stablecoins, only to be caught in the vortex of chasing the next investment game again.

However, when I convert it into legal tender or other "real-world" investments, this money may temporarily be immovable (for security reasons).

I think this also depends on the individual's personality.

I am a person with ADHD, so the more preventive impulsive decision-making measures I can introduce and make myself think, the better it is for me.

3. Self-satisfaction is fatal

There was a time when I lied to myself that I was making money, but in reality, I was making too little.

Yes, I took another $100,000 from the desktop today - "Look how awesome I am, Mom! I'm making money!"

In fact, I still hold millions of counterfeit coins with only book income.

I find myself always looking at the value of the investment portfolio as a comfort rather than the actual stablecoin weight of the portfolio - which is a more important indicator in preserving wealth.

Without a doubt, complacency is the biggest killer in the crypto space.

Ignoring warning signals = complacency;

No profit = complacency;

Slow response to new information = complacency;

Poor planning = complacency;

99% of the mistakes in the market can be attributed to some form of complacency.

4. Respect every penny

That day I saw this tweet and was deeply impressed. *(Odaily Planet Daily Note: Overseas big V Loopify previously posted expressing how precious it is to have a $1 million cash reserve. Even with a successful career, it still takes a long time to earn. If you become a top figure in your profession with an annual income of $400,000, it may take 5 years to accumulate; if you can earn $200,000 per year, it may take about 10 years to achieve).

For people in the cryptocurrency industry, sometimes we completely lose the perception of value for money.

For example, last December I made a transaction and made a profit of 1.7 million US dollars. Now, I really wish I had half of that wealth at the time.

At that time, I felt that money was not important because people are easily influenced by this kind of excitement.

Always stay sober (even in crazy moments), cherish every penny, because one day you will cherish money like this even more.

5. Accumulate Compound Interest Step by Step

Most mistakes in the market fundamentally stem from the pursuit of quick (and 'easy') returns.

But the wealth accumulated over time is actually derived from compound returns over time.

You should treat each trade as a "gamble", with the aim of increasing your overall chips (just like playing cards).

6. Do not be misled by target prices or profit targets.

The market does not care about the target price you set arbitrarily, whether it is a specific dollar value or a multiple. Chasing the target is a profitable transaction without loss.

If at some point you do hit your target price, sell it. Don't be greedy, and don't change your profit goals.

At least, use fewer chips to pursue new target prices and protect your trading principles.

7. Set stop loss indicator

At the end of last year, I made great progress in this area. However, I did not do well for a period of time (especially in March 2024), and more effective stop-loss could avoid a lot of pain. It may be as simple as setting a predetermined HTF (high time frame, i.e., a longer time range for trading) support level/moving average line to reduce position when the structure is broken; it can also be more advanced, such as identifying LTF (low time frame, i.e., a shorter time range for trading) loss momentum, and repositioning when the market rises.

In a trending market, this approach usually works well. But there should be some form of stop-loss indicator at least, instead of waiting for your position to go to zero.

8. Do not borrow confidence from others.

Every time I purchase cryptocurrency based on someone else's opinion (rather than my own judgment), the results are always unsatisfactory.

Refer to the ideas of others, but independently verify and establish your own viewpoints and beliefs.

Otherwise, you will end up holding tokens that lack real faith or do not know what to do when this faith is tested.

9. Do not hold any altcoins for long.

The 'investment' in Shanzhai Coin is a bit like a maze.

Your default mindset should be that every time you make a purchase, you are trading between altcoins and USD. (Note from Odaily Planet Daily: Always pay attention to the exchange rate between altcoins and USD to judge their possible price trend.)

I like this mindset because it formalizes the need to develop clear take-profit/stop-loss plans. Many people may be lazy in this regard.

Investing is not an excuse for bad risk management. A trade can now last for 3 days, 3 weeks, 3 months, 6 months, and in some cases even require 12 months.

But please note, this is just trading, your ultimate goal is to accumulate more BTC or other capital.

10. Do not use leverage for contracts just for the sake of taking risks

Since this cycle, I have only had insomnia for 2 nights, both of which occurred when I was holding a large number of leveraged contract trades.

Only use leverage to manage risk (such as hedging), rather than taking on more risk.

If you intend to hold for the long term, spot trading may be more suitable relatively.