A friend of mine who became financially free by trading Link coins told me

I have a friend who achieved financial freedom through cryptocurrency trading. His experience is legendary and serves as a real-life example for me. Now, he spends his days traveling and enjoying the troubles of having endless money.

A few years ago, he was just like us, earning a regular salary and living a nine-to-five life. By chance, he came into contact with the world of blockchain and cryptocurrencies. At first, he was not familiar with this field and even had a vague understanding of mainstream coins like Bitcoin and Ethereum. However, driven by curiosity and a bit of adventurous spirit, he embarked on the path of "trading cryptocurrencies."

The turning point in his wealth accumulation came from a little-known altcoin. At that time, most people were focused on mainstream coins like Bitcoin and Ethereum, but he targeted the lesser-known small coins in the market, especially those that were newly issued. In 2018, he decisively bought a coin called Chainlink (LINK) when its price was less than $1. Many people did not understand this coin at all, thinking it was just a small ripple in the cryptocurrency market and not worth paying attention to. However, after in-depth research, he discovered that the technology team and application scenarios behind it were very strong, especially with great potential in blockchain data on-chain technology.

Initially, his journey was not smooth sailing. Friends recall that shortly after he entered the market, the cryptocurrency market experienced significant volatility. His account once showed a floating loss of nearly 30%, and many people panicked and sold off, even "cutting losses" to exit. He also hesitated about whether to continue holding or to liquidate, as a 30% loss is not small. Fortunately, he persevered and did not waver in his confidence due to short-term fluctuations.

This persistence brought returns far beyond expectations. In 2020, Chainlink surged explosively, with its price climbing above $20. Instead of selling, he increased his holdings in batches. When the price broke through $30, he chose to cash out. Rough estimates show that just from this investment in Chainlink, he netted nearly $5 million. From a cost of less than $1 to a return of over 30 times, this small coin became a springboard for his wealth.

In addition to Chainlink, he also invested in other coins. For example, at the beginning of 2021, he entered the market to purchase tokens from DeFi projects like Uniswap (UNI) and Synthetix (SNX). These projects also brought considerable returns during the DeFi boom, although not as astonishing as Chainlink, each coin increased by 5-10 times, resulting in overall substantial profits.

Of course, he also experienced losses. He admitted that in his early investments, he shorted Bitcoin, believing that its rise was too high and would correct, so he used leverage. As a result, the market continued to rise, and his account lost 40% in just a few days. This lesson made him deeply aware of the risks of leveraged trading and the dangers of blindly amplifying capital. Since then, he has stopped engaging in high-leverage trading and focused more on risk control and capital management.

Now, he has achieved financial freedom, quit his job, and lives an enviable life. He no longer obsessively watches the market but instead invests his energy in global travel and enjoying life.

Here are some of his experiences that may inspire those exploring the blockchain world.

1. Know when to take profits#

He told me that the key is to exit in a timely manner after making significant profits and to understand the importance of being content. When account profits exceed expectations, one must avoid greed. Exiting at this point, taking a break or traveling to relax, can help you plan your next investment more calmly. Don't wait until the market reverses to regret it, as market fluctuations are often unexpected.

2. Reflect on losses exceeding 10%#

Losses are inevitable in investing, but he emphasized that if consecutive losses exceed 10%, one must pause and find out the reason. Many people become obsessed with "recouping losses," increasing their positions as they lose, resulting in deeper pitfalls. When facing losses, calmly analyze whether it is a market change or an operational issue; adjusting strategies in a timely manner is more important than blindly pushing forward.

3. Avoid unclear opportunities in short-term trading#

In cryptocurrency short-term trading, he advises: if the opportunity is unclear, do not act rashly. Such moments are the easiest to incur losses. The market may seem favorable, but if you don't have complete confidence, it's best to wait and see. Investing is not gambling; if you're unsure, don't act, and be cautious to avoid unnecessary losses.

4. Avoid chasing coins that have risen over 50%#

There are often coins that surge in the market, but he warns: never chase coins that have risen over 50%. Although short-term surges attract attention and capital, they are often traps. Buying in can lead to being stuck, and once the bubble bursts, the risk to capital is huge. A surge is often followed by a sharp drop.

5. Control emotions during high-volume trading at peaks#

Another important experience is: after consecutive rises, during high-volume trading at peaks, do not be tempted by the profits in front of you. Newcomers often chase highs, only to be trapped by their own greed. He reminds that controlling emotions at this time is crucial. The market is volatile, and during high-volume trading at peaks, it's best to wait and see rather than rush in.

6. Buy low in weak markets, buy on dips in strong markets#

Having a sense of timing in investing is key. His strategy is: buy low in weak markets and buy on dips in strong markets. The core is to grasp the market rhythm rather than emotions. When the market is weak, it's an opportunity to position at lower levels; when the market is strong, do not chase highs, but wait for dips to act.

7. Do not increase positions without 100% certainty; building positions in batches is safer#

Regarding increasing positions, he says: never increase positions when the situation is unclear or without 100% certainty. Increasing positions carries high risks; many people blindly increase positions when the market is favorable, and when the market reverses, losses double. He suggests building positions in batches at lower levels, which is more prudent, as it can lower costs and avoid volatility risks.

8. Operate within familiar patterns#

He particularly reminds: operations should be conducted within familiar patterns to earn risk-free money. Before buying coins, there must be a clear strategy and pattern, rather than following trends or relying on feelings. Whether technical analysis or fundamental analysis, it must be based on familiar experience to maintain safety in an uncertain market.

9. Do not easily participate in weekly pullback trades#

Lastly, he repeatedly emphasizes: do not easily participate in trades during weekly pullbacks. Investors often see short-term pullbacks as entry opportunities, but his experience shows that the risks of weekly pullbacks are greater, and entering too early may lead to deep losses. The market needs time to correct, and entering too early can easily lead to being trapped at high levels.

These pieces of advice may seem simple, but each contains years of his experience and lessons. For those exploring the cryptocurrency market, calmness, rationality, and discipline are the foundations of success. Investing in cryptocurrencies is not a get-rich-quick scheme, but a long-term battle with emotions. Only by controlling desires and maintaining clear judgment can one stand firm in this uncertain market.

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