A Summary of the Blood and Tears in the Crypto World Contracts

Stop-loss first: refuse to take chances, preset stop-loss and strictly execute it, avoid emotional holding. One time of holding may consume ten times of profit.
Less is more: Open a position with no more than 5% of your capital at a time. High leverage does not equal high returns; it is a poison that accelerates liquidation.
Reject FOMO: Do not chase after rising prices or panic sell. Remain calm and wait for a pullback during market euphoria; it is better to miss out than to make mistakes.
Trend is king: increasing positions against the trend is a suicidal behavior. Trade in the direction of the larger cycle and avoid frequent operations in a volatile market.
Review data: Record the entry logic of each trade, reasons for profit and loss, refine effective strategies, and eliminate impulsive actions.
Respect the market: black swans always exist, keep enough reserves, do not go all in, do not borrow, surviving is the only chance to turn the situation around.
(200-word condensed version, every word is a lesson learned at the cost of tuition!)