Trading discipline is never just a motivational slogan pasted in the office; it lives in your account balance—every action's consequence is right there.

When a friend came to me, his account only had 3000U left. You read that right, the initial capital of over 20,000 was repeatedly tossed around in the market, and it was about to be wiped out. He admitted that every trade was driven by a gambler's mentality, "Anyway, it's come to this, might as well take a shot," and this is the result.

I redesigned a trading plan for him: no single position should exceed 20%-30% of total funds, and once profits reach 10%-15%, he must withdraw and lock in gains. If losses hit a 4% stop-loss line, he must exit immediately. For opportunities where the trend is unclear, just say no. In the first two weeks, he struggled to adapt, but I urged him on, and he persisted with the plan, reviewing K-line charts every night. After three months, his account grew from 3000U to nearly 40,000U.

Later, over drinks, he told me, "This is not luck; living by rules saved me."

**Proper position sizing is key to survival**

Lock your single position at 20%-30% of total funds. It may seem conservative, but it’s the prerequisite for survival. How fierce can the volatility in the crypto world be? A 20% daily fluctuation in a single coin is routine; sometimes, black swan events hit even harder. If you are fully invested, a sudden announcement can wipe you out, and the game is over.

I’ve seen too many beginners go all-in right from the start, waiting for a big win. But what happens? Maybe they made money on the first nine trades, then a wrong judgment on the tenth, and everything is wiped out. The crypto market never lacks black swans, so the more reasonable your position management, the better you can withstand mistakes.

**Take profits and run, don’t ride the roller coaster**

Setting a rule to withdraw once profits reach 10%-15% sounds simple but is hard to implement. Human greed always wants to earn a little more, dreaming of one last big catch. But often, that means riding the elevator down from a high point, losing all previous gains or even incurring losses.

The market will never give you an extra slice of pie just because you wait an extra minute. Not acting when it’s time to lock in gains will become your biggest regret.