At that time, I hoped to make some money, and my friend suggested that I convert my money into USDT and deposit it into Binance.

My friend is a rich second generation; he got into crypto trading early and boasts to us about how much he made yesterday and how much he made today, often showing us his profit charts, which are often multiples of returns. In fact, I knew about virtual currencies early on and decided to trust him and give it a try. At that time, I thought this interest was three to four times that of Yu'ebao.

Coincidentally, I had gathered all my savings, relying on the living expenses I saved by being frugal, which amounted to exactly 2000 USDT, leaving 1000 for meals. So I registered for an OKEx account and converted all the money in my Alipay into USDT to deposit into Binance. At that time, the crypto market was in a bear phase; I saw that almost all coins on the software were falling daily, while my friend kept shouting to short, making quite a bit. Although Yubi Bao had high interest, my principal was just over ten thousand, so my daily earnings were only enough to buy a bottle of drink.

Seeing my friend make a lot of money by shorting, I asked him to teach me how to trade futures. In reality, futures trading is very simple, much like gambling on high or low. At that time, I was also a gambler; after learning, my first operation was to leverage fully. My first trade was to short a low-quality altcoin; after opening the position at night, I went to sleep. When I woke up and saw the account was profitable, I immediately closed the position, which brought me over 200 USDT in profit, more than the interest from Yubi Bao for a year.

I felt that the money came as easily as pie falling from the sky, immediately transferring all the money from Yubi Bao to the futures account, starting my futures trading career. At that time, I studied K-lines +, technical indicators +, browsed various news, joined various futures groups, and listened to the nonsensical claims of those who take trades. Except for sleeping, attending classes, and eating, I spent all my time watching the market.

My position management involved operating with 25% position size with 10x leverage. Besides opening positions based on K-lines, I had a special way to open positions where I followed my friend's account on OKEx; I would receive notifications on when he opened positions. My friend is actually a mediocre trader; when he makes money, he brags to me, and when he loses money, he remains silent. Overall, he hasn't made money and has mostly incurred losses.

If I followed his trades, I would generally lose more than win, but I didn't trade against him; I preferred to enter when he was losing and cutting losses. I must say this strategy had a good win rate; I was using inverse indicators quite early on. I am no different from ordinary people; I'm not suited for trading, as I like to hold positions and prefer to add to losing positions, rarely using stop-loss.

However, perhaps due to being in a novice protection period, my luck was indeed good; every time I held a position, I could successfully break even, with a win rate maintained above 90% (at that time, I paid special attention to win rate), and I even thought about making money by copying trades. About a month later, my 2000 USDT had increased 30 times, reaching 60,000 USDT.

I transformed from a novice into someone my friend, an experienced trader, had to learn a few tricks from. However, my friend is one who prefers bad practices over good ones; he doesn't study technical indicators but trades based on his feelings, yet has learned to copy my trades quite well!

In fact, I also understand how futures ultimately end. My initial goal was to reach 100,000 USDT and stop trading futures, only purchasing spot assets. After successfully reaching 100,000 USDT, my next goal was to reach 300,000 USDT and stop trading futures, only buying spot assets. The third goal was to reach 500,000 USDT before buying spot assets, and the final fourth goal would be even higher.

One night, my friend suddenly sent a message saying all the USDT in his account had been wiped out, and he didn't even have time to add margin before being liquidated. I could only offer a few words of comfort, glanced at the altcoin he traded, and immediately opened a 20x short position above his liquidation price. Not long after, that coin dropped significantly, and I continued to short it. A week later, my assets had nearly increased tenfold, reaching 600,000 USDT.

I felt that there were risks in continuing to short, so I closed my positions and withdrew the initial 2000 USDT I invested in the crypto space, indulging in food and drink for a few days and even buying an Apple phone. Since I had withdrawn the principal, at least I didn't incur losses; it was just a few months of hard work for nothing. But at that time, like a gambler, I was blinded by losses and immediately put the newly bought phone and my previously purchased laptop on sale on Xianyu, gathering some money.

After listening to a friend in the group, I impulsively invested in a meme coin, and the outcome was naturally a complete loss. For a period, I was in a daze, coinciding with my university finals; when I received a test paper, my mind went blank. When it was time to hand in early, I randomly guessed the multiple-choice questions and submitted the paper, even forgetting to fill in my exam registration number. I basically failed all the subjects, and my life lost direction in an instant. Fortunately, I never liked borrowing money from others; I never touched online loans, which is a key reason I could rise again.

Surviving tough times brings future blessings. After getting through the low point, I began to seek other opportunities. By chance, I met a group of friends in an airdrop group who specialized in arbitraging USDT and running errands, which helped me understand the industry of market makers. Through gradual learning, I gained a lot. So I prepared a few thousand USDT, ran errands daily to earn USDT, purchased some spot assets, and saved some money. I earned 200,000 USDT just from USDT arbitrage.

Until now, I haven't touched futures again, feeling that everything is developing in a positive direction.

I share this experience to say that failure is not terrifying; there are numerous opportunities in the crypto space, not just futures. If one avenue doesn't work, switch tracks; don't give up. Airdrops, NFTs, holding coins, DeFi, quantitative trading, arbitrage, running errands for market makers, etc. In comparison, meme coins and futures are truly last-resort strategies.

Investors in the crypto space, whether beginners or experts, gain not only financial returns but also growth in investment knowledge and experience from CoinXia.

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