A friend of mine who achieved financial freedom through cryptocurrency trading said this to me.

I have a friend who became wealthy through cryptocurrency investment, and his experience is legendary, serving as a vivid example for those around me. Now he spends his days traveling and enjoying the "troubles" of endless money.

A few years ago, he was just like us, earning a regular salary and living a nine-to-five life. By chance, he came into contact with the world of blockchain and cryptocurrencies. At first, he was unfamiliar with this field and even had a vague understanding of mainstream coins like Bitcoin and Ethereum. However, driven by curiosity about new things and a bit of adventurous spirit, he embarked on his own "trading" journey.

The turning point in his wealth came from a little-known altcoin. While most people focused on mainstream coins like Bitcoin and Ethereum, he targeted small coins that the market overlooked, especially some early projects. In 2018, he decisively invested in a coin called Chainlink (LINK), which was priced at less than $1 at the time. Many people did not recognize its value and viewed it as just a small ripple in the market. However, after in-depth research, he discovered that its technical team and application scenarios were strong, especially with great potential in the field of blockchain data on-chain.

Initially, it wasn't smooth sailing. My friend recalls that shortly after entering the market, cryptocurrencies experienced severe volatility. His account was down nearly 30%, and many panicked and sold off, even "cutting losses" to exit. He hesitated about whether to liquidate, as a 30% loss was significant. Fortunately, he persevered and did not let short-term fluctuations shake his confidence.

This persistence brought returns far beyond expectations. In 2020, Chainlink skyrocketed, with its price soaring above $20. Not only did he not sell, but he also increased his holdings in batches. When the price broke through $30, he chose to cash out. A rough estimate shows that this investment alone netted him nearly $5 million. From a cost of less than $1 to a return of over 30 times, this small coin became a springboard for his wealth.

In addition to Chainlink, he also invested in other coins. For example, at the beginning of 2021, he purchased DeFi project tokens such as Uniswap (UNI) and Synthetix (SNX). These brought considerable returns during the DeFi boom, though not as astonishing as Chainlink, each coin increased by 5-10 times, resulting in substantial overall profits.

Of course, he also experienced losses. Early on, when he shorted Bitcoin, he predicted that the price would correct after a significant rise and used leverage. As a result, the market continued to rise, and his account lost 40% in just a few days. This lesson made him deeply aware of the risks of leverage and the dangers of blindly amplifying funds. Since then, he has avoided high-leverage trading and focused more on risk control and capital management.

Now, he has achieved financial freedom, quit his job, and lives an enviable life. He no longer obsessively monitors the market but instead focuses on traveling the world and enjoying life.

Here are some of his experiences that may inspire blockchain explorers.

1. Know when to take profits#

He told me that a key point is to exit promptly when profits exceed expectations and to understand the importance of being content. Once account profits reach a target, do not be greedy. Exiting at this point to rest or travel can help plan the next investment more calmly. Don't wait until the market reverses and regret it; market fluctuations are often unpredictable.

2. Reflect on losses exceeding 10%#

Losses are inevitable in investing. However, my friend emphasized that when consecutive losses exceed 10%, it is crucial to pause and identify the reasons. Many people become obsessed with the psychology of "recouping" losses, increasing their positions as losses mount, and falling into a trap. Analyzing calmly during losses is essential to determine whether it is a market change or an operational issue. Adjusting strategies in a timely manner is more important than blindly pushing forward.

3. Avoid unclear opportunities in short-term trading#

In cryptocurrency short-term trading, he advises: do not act on unclear opportunities. Such situations are the most likely to incur losses. The market may seem favorable, but if there is no absolute certainty, it is best to wait and observe. Investing is not gambling; if uncertain, do not act, and be cautious to avoid unnecessary losses.

4. Do not chase coins that have risen over 50%#

There are often coins that surge in the short term, but my friend warns: do not chase coins that have risen over 50%. Although short-term surges attract attention and capital, they are often traps. Buying in can lead to being stuck, and when the bubble bursts, the financial risk is enormous. It is essential to know that surges are often accompanied by drops.

5. Control emotions during high-volume trading at peaks#

Another important lesson: after consecutive rises, do not be tempted by profits during high-volume trading at peaks. Newcomers often chase high prices during significant rises, resulting in being trapped. My friend reminds that controlling emotions at this time is crucial. The market is highly volatile, and during high-volume trading at peaks, it is wise to observe rather than rush in.

6. Buy low in weak markets and buy on dips in strong markets#

Investment timing is critical. His strategy is to buy low in weak markets and buy on dips in strong markets. The core is to grasp market rhythm rather than emotions. When the market is weak, it is actually a good opportunity to position at low levels; when the market is strong, do not chase high prices, but wait for dips to act.

7. Do not increase positions without 100% certainty; building positions in batches is safer#

Regarding increasing positions, my friend says: never increase positions when the situation is unclear or without absolute certainty. Increasing positions carries high risk; many blindly increase positions when the market is good, leading to doubled losses when the market reverses. He suggests building positions in batches at low levels to lower costs and avoid volatility risks.

8. Operate within familiar patterns#

He particularly reminds: operations must be conducted within familiar patterns to earn risk-free money. Before buying coins, there must be a clear strategy and pattern; do not follow trends or make decisions based on feelings. Both technical and fundamental analyses must be based on familiar experiences to maintain safety in an uncertain market.

9. Do not easily participate in weekly pullback trades#

Lastly, he repeatedly emphasizes: do not easily participate in trades during weekly pullbacks. Investors often view short-term pullbacks as entry opportunities, but experience shows that risks during weekly pullbacks are greater, and entering too early can lead to deep losses. The market needs time to correct, and entering too early can easily lead to being stuck at high levels.

These pieces of advice may seem simple, but they contain years of experience and lessons. For cryptocurrency explorers, calmness, rationality, and discipline are the cornerstones of success. Investing is not a game of getting rich overnight, but a long-term battle with one's emotions. Only by controlling desires and maintaining clear judgment can one stand undefeated in an uncertain market.

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【Real Stories of Getting Rich in the Crypto World】Many people ask me how I went from 0 to 11 million and then to a debt of 100,000 after years of trading cryptocurrencies.

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