#大户持仓变化 At the beginning of 2017, I gritted my teeth and closed my heavily losing restaurant. Holding the last 40,000 yuan, I spent three days in front of trading software, finally going all-in on three bitcoins at a price of 12,000 yuan.

That period was truly a roller coaster—at the peak of the 2017 bull market, my account soared to 500,000 yuan, and I was so excited I was about to place an order to buy a necklace that very night; but then suddenly in 2018, a huge crash happened, leaving my account with only 120,000 yuan, and I finally understood what "a numbers game, all in vain" means.

The turning point came in 2021. I completely abandoned the strategy of chasing gains and cutting losses, and shifted to deploying in cryptocurrency staking and NFT projects, managing them like a fruit orchard with steady, long-term water flow. Over three years, my account steadily grew to 2 million yuan.

After nine years of countless pitfalls, I summarized three ironclad rules that have saved me several times:

**First Rule: Capital preservation is the bottom line.** In my early years, I made 8 times profit by following the trend of altcoins, but greed made me hold on without taking profits, and I ended up losing everything. Now, once profits reach 40%, I immediately withdraw the principal and only use the profits to gamble. Even if there's a big drop, I feel no pressure.

**Second Rule: Only invest in what you understand.** When the DeFi trend started, I watched from the sidelines because I didn't understand the mining logic; later, I heavily invested in the ZK track after reading over ten technical documents three months in advance. Whitepapers, teams, economic models—if even one aspect was vague, I wouldn't dare to move.

**Third Rule: Position size is more important than market watching.** 50% of my holdings are in Bitcoin and Ethereum to stabilize confidence, 25% in Layer2 solutions, 15% for trying out new tracks, and 10% in cash ready to deploy at any moment. The maximum holding for a single coin is 12%.

You see, everyone looks like a master during a bull market, but once the bear market hits, true colors are revealed. I've seen too many contract traders double their money monthly only to get liquidated.

If I really want to stay alive and take profits when I exit, there are only two secrets: don’t be too greedy in a bull market, and slowly accumulate in a bear market. Beginners should spend half a year practicing on demo accounts to find their feel, and only when they are truly confident should they use their spare money to enter the market.

The realization gained from nine years of blood and tears: making steady profits is far more reliable than quick gains, and living is the biggest victory. Opportunities are always there; the key is to stay alive and wait for that day.