#数字货币市场回升 Treating Crypto Assets as a side job? Let me tell you a story about losing money.

I invested 1 million to enter the market and made it to 2 million in half a year. At that time, I felt I had grasped the market rules, but a 50% drawdown hit me hard and brought me back to reality. That night, when my account balance returned to 1 million, I stared at the candlestick chart all night without sleeping—earning double takes half a year, but losing half only takes one moment of impulsiveness.

Later, I found that the most insidious aspect of this market is the traps hidden in arithmetic problems. When it increases by 10% and then decreases by 10%, it ends up with 990,000; conversely, if it decreases first and then increases, it is still 990,000. Behind the numerical game, the direction of compound interest truly determines your outcome.

I once set an annualized target of 40% for myself, sounds reasonable, right? But doing the math made me anxious: if I lose 20% every other year, after sticking with it for six years, the actual annualized return is only 5.83%, not even beating government bonds. On the contrary, a friend of mine makes 1% every day and stops without being greedy, and after a year, he multiplied his investment by 12 times. Sometimes, being slow is the fastest way to live.

Who hasn't dreamed of getting rich quickly? A continuous 200% return every year for five years could turn 1 million into 250 million. But the reality is that living long enough is more important than earning fiercely, by more than ten times. If we adjust the goal to earning 10 million in ten years, the annualized return only needs to be 25.89%—this number can be achieved with a trading system, but it would be precarious with luck.

Let's talk about the issue of averaging down. If you bought a coin at 10 and it drops to 5, if you invest the same amount again, your cost is 6.67 instead of 7.5. Many people think averaging down can save them, but what really saves you is position management. My current iron rule is: once profits exceed 10%, withdraw the principal immediately and let the profits work on their own, while the principal is always locked in the safe zone.

What is true faith? It's not about shouting slogans during a bull market, but rather those coins you still dare to hold when there is a 50% drop. Projects that didn't die out during a market crash are often the ones that end up being the ultimate winners.

After mixing in the Crypto Assets circle for ten years, I now only recognize one dead truth: stop fantasizing about getting rich overnight. Replace impulse with a system, and replace passion with discipline. As long as you keep going, compound interest will naturally take you where you want to go.

The deepest moat in this market is not about what you can predict, but whether you have the discipline to survive.