Last summer, at an offline event, I met Lao Zhou. He is a civil engineer who has been in the industry for eight years, yet he looked particularly exhausted—his plaid shirt was washed out, and his eyes were full of bloodshot veins, as if something had completely drained him.

Later, I learned that he had impulsively taken over the project funds for a construction team of more than 30 people and entered the crypto world. In less than three months, his 820,000 yuan was reduced to a mere fraction. During that time, he stared blankly at his phone screen, repeatedly muttering, "The workers are waiting for their wages..." He was just one step away from breaking down.

But this is not a story of failure. A year later, when I saw him again, not only had that hole been filled, but he had also accumulated 1.44 million yuan. Last week, he handed me a box of hometown tea, and finally had a long-lost sense of peace on his face: "Now I can sleep soundly."

His turnaround was not due to luck or some clever technical analysis, but a process of cognition and self-discipline. After years of struggling in this industry, I’ve seen too many people lost in the market, and also some who have gradually come out by changing their habits. Today, I want to talk about what really works.

**From Full Position to Living Profitably**

The reason Lao Zhou first suffered a loss is very typical—full position. This is the most common death trap for crypto beginners.

Markets with high volatility are inherently a double-edged sword. A price fluctuation can cause a margin call for someone fully invested; those who leave some room can continue to position themselves during declines. The truly consistently profitable investors I’ve encountered are not those who frequently go all-in. They may seem less aggressive, but they last the longest.

My rule for myself is: never risk more than 20% of my total funds in a single trade. I stick to this even in promising market conditions. Why? Because the market always has surprises. Having enough "ammunition" allows you to seize real opportunities when they come.

**Volatility is not risk; losing control is**

Market fluctuations in crypto are not scary in themselves. Bitcoin going from 3,000 to 69,000 and back down to 16,000 is no longer surprising. What is truly frightening? Is that you can’t keep up with your own rhythm, chasing highs and selling lows, turning short-term volatility into your entire life.

I’ve seen too many people sell all their holdings when a coin drops, only for it to rebound later, prompting them to chase again. Repeating this cycle, their mentality collapses, and their accounts disappear.

Lao Zhou’s current approach is to set stop-loss levels and then leave it to time. He no longer stares at minute-by-minute charts but looks at weekly and monthly trends. Once the stop-loss is hit, he decisively exits, giving himself no chance to justify stories. It sounds simple, but behind it is a change after experiencing deep pain.

**Why discipline is more valuable than luck**

This market is not short of geniuses; what’s lacking are those who can persist. I’ve seen too many smart people make money in the first wave of a market, only to lose everything in the second. They are not unintelligent, but they have not established their own trading discipline.

True experts all have their own system: when to enter, when to exit, how much to lose before stopping, at what profit level to take partial profits. It’s not a perfect system, but one that is executable and repeatable.

Lao Zhou is now like this. He no longer gets hijacked by price fluctuations but follows his own rhythm. He didn’t bottom-tick in March’s rally, nor chase the June correction with full positions. It may seem like he missed many opportunities, but the final result is—he’s alive, and his account is steadily growing.

**Final words**

After being in the crypto world for a long time, I’ve discovered a rule: those who ultimately survive are never those relying on luck or overly clever technical analysis, but those who can control their desires. They can resist going all-in, accept missed opportunities, and find a balance between greed and fear.

Lao Zhou’s story tells us that turning things around doesn’t require secret weapons; what’s needed is discipline, patience, and repeatedly choosing to believe in the long term.