I've been in this market for eight years. I was fully involved in that bull run in 2017—I made money and also lost badly. Looking back now, those who actually pocketed profits never relied on sheer luck—they knew exactly when to let go.

Let me tell you a true story. Back then, I went heavy on ADA, started buying at $0.03, and three months later it shot up to $1.20—my portfolio nearly 40x’d. During that time, I checked my balance every morning and even started planning what car to buy. But guess what? I didn’t sell a single coin. I kept thinking it could still go higher, only to watch it drop back to $0.20, and 80% of my profits vanished just like that.

It was after that experience that I understood: getting in is easy; getting out is where the real skill lies.

Later, I came up with a strategy that doesn’t require staring at the screen all day. The core concept boils down to two words—scaling out.

Let’s talk about taking profits first. Suppose a coin goes from $1 to $2. I’ll sell 30% of my position to get my principal back; even if the rest drops to zero, I won’t feel bad. If it rises to $3, I’ll sell another 30%—by then, most of the profit is already secured. For the remaining 40%, I’ll set a trailing stop—say, if the price pulls back 15% from the peak, it sells automatically. That way, I can ride the main uptrend without getting stuck at the top.

Now, about cutting losses. I set a strict rule for myself: no single loss can exceed 5% of my principal. For example, if I invest $10,000, a $500 unrealized loss means I must cut it. When I buy in, I immediately set a -10% stop order. There are endless opportunities in crypto, but once you lose your principal, it’s truly over.

There's also a habit that goes against human nature—don’t aim to sell at the absolute top. I used to want to catch the whole move, but ended up missing both the head and the tail. Now, I just take the fattest part of the move, and this year I’ve steadily made 35%.

Over the years, I’ve seen many stories of people getting rich overnight, but even more who lost everything on the rollercoaster. The ones who actually walk away with money are those ruthless enough to execute their strategies like robots.

I remember once after I cut my losses, the price doubled, and my friend laughed at me for being too timid. But three months later, that coin went to zero—I have no regrets about getting out early.

In this market, surviving is a thousand times more important than making a quick buck. I used to stumble around blindly, but now at least I know where the pitfalls are.