I started working in Shenzhen in 2012 and entered the cryptocurrency world in early 2015.

Currently, I have two houses and two cars in Guangzhou, one Land Rover and one Mercedes-Benz, and taking out 100,000 a month poses no pressure. Most of my other assets are in exchanges.

In fact, trading is an extremely monotonous thing. After being engaged for a long time, I have already passed that passionate period; I am no longer at that stage of being surprised by some fluctuations.

1. [Staying up late] is basic operation. For our group, it is simply daily routine. Therefore, you often see so-called genius traders looking much older than their age; fortunately, I still pay great attention to appearance, as I rely on my looks for a living. Haha~

2. [Carefree] is not as you imagine it, full of lights and wine every day; more often, it is actually a state of casually coping. Even when going out to play, I cannot fully immerse myself. An anxiety named state drives me not to stop, because there are too many people who trust us, and every trust is actually a pressure for us. This pressure urges us to become better. Every day is not about feasting and entertaining but endless monitoring, keeping an eye on news, and summarizing reflections; at least, that’s how I am. The messages on my phone seem never-ending.

3. [Pressure] As for pressure? Haha, from initially solving pressure issues to now increasing the ability to withstand pressure. Some ask why I always keep an eye on it? Because contracts are mainly for short-term trading, so I often look for suitable opportunities. Then I respond to various questions from others. I'm still quite nice, haha, and the price difference is significant; those who understand will understand. Finally, let me share my trading principles:

1. Say goodbye to feeling; respect market sentiment

2. Strictly set stop-loss levels; the stop-loss level must be determined by the market and must also be within the loss you can bear.

3. Stick to your original perspective; if you are wrong, you should pay the price.

4. Trading is not about who makes more money, but about who goes further.

Finally, I hope all the folks who read this can overcome their own nature, because trading is a struggle with human nature~

To summarize what I did well:

I have seen through the meaning of life from trading, learning to view and think about everything around me from the perspective of volatility and probability, and seeing clearly what I want. This is my greatest gain from studying and researching trading.

Since I thought I had gained enlightenment, I buckle my seatbelt when driving, quit smoking, refrain from arrogance and impatience, live earnestly, love learning, love working, and treat everyone and everything around me kindly.

Quit bad habits, and success will come naturally and effortlessly.

I bought a cheap piece of jade and engraved on it 'A modest gentleman, gentle as jade' to encourage myself.

I have realized many truths; let me casually mention one: all correct goals are meant to prove one's mistakes. I amusingly verified this.

Now, trading has made me quit trading. Really, I suddenly feel that a life of shortcuts is meaningless; this way of making money while living is pointless and will destroy my hope for the future.

I want to temporarily escape from a lonely life and do things I love during my spare time. I started learning to write with a brush every day, learning sketching, appreciating famous paintings, playing the electronic piano, listening to music, studying psychology, reading classics, actively smiling and chatting with people, inviting others to dinner when possible, and walking in the park when I have time, enjoying trees, mountains, and water. These happiest things have nothing to do with money, and I never wanted to change anything. Being able to see and experience more of this world has already made me very happy. Humanity carries so many interesting and lovely cultures; why would you entrust your whole life to candlestick charts and remain lonely for a lifetime?

These are all lessons that trading has taught me. What do you think is the essence of trading? It is to reflect on one's inner self, to see clearly what one wants! If you achieve a balance between tension and relaxation, the market will also respond with humility. If you are greedy and insatiable, the market will surely leave you dry; if you try to defeat the market, the market will ensure that you have no place to die.

"I have failed greatly in my life!"

This is a reflection from the successful speculative predecessors you can hardly match when they committed suicide. Speculation can be too fast and too crazy; since the body cannot keep up, why not slow down?

Then ask me what the true meaning of trading is? I only seek a defeat.

Then ask me what the true meaning of life is? I only seek death.

Do you think this is pessimism? Do you think this is arrogance?

No! This is a game attitude that is neither happy nor sad, neither fearful nor fearless, but quiet and peaceful.

Unity of knowledge and action in trading

Unity of knowledge and action, as the name implies, means that your thoughts and ideas must align with your actions. This is actually very difficult to achieve. I often like to describe the contradiction during trading with this phrase: the struggle between thought and action.

If this can be sustained over the long term, it is a breakthrough. In fact, many people analyze the market correctly and in detail, but why do they end up with losing trades? This is precisely because their actions do not align with their own thoughts.

Another situation is that when one is uncertain about the market and has a very uncertain subjective view, it’s best not to trade. Why? Because it’s simple; if you don't even believe in yourself, it's very hard to do well. Many people initially choose to take a gamble or ask others what to do. This reminds me of a friend's saying: 'Gambling is wrong, while not gambling means missing out.' This saying is indeed quite reasonable, but I countered him at the time: in this market, I would rather miss out than make a mistake.

Therefore, at this time, it is best not to gamble; do not go long or short. In fact, many people cannot stop once they start. As long as the market is moving, they want to trade. This flaw is also quite common. Thus, the simple rule of 'watch more, act less' has eliminated a batch of people. If you keep trading, three groups of people will love you (people from exchanges, futures companies, and your broker). I believe that the more frequently an investor trades in this market, the less time they will have to live. Comparatively, this is harmful to both parties with no benefit.

The above also includes a situation where one is uncertain and seeks others' opinions to place orders. Firstly, this issue needs to be understood: this order is not based on your subjective awareness, yet it is still placed by you. At this moment, you may think, 'Since others are doing it this way, it should be fine for me to do the same.' This is a significant problem; it is a world of difference.

Why? First of all, in others' minds, this order is generally already planned for what to do if it goes wrong or how to take profits when it goes right. In your own concept, there are no strategies in place, so once you encounter abnormal situations, you start to panic, not knowing where to start. Even if you are right, do you know how to take profits? In your subconscious, you have no concept of taking profits, only the concept of when others close their positions.

At this time, due to one's own funds and positions, the mentality is different from others. Therefore, the strategies to be adopted are vastly different. Another common issue among traders is that they know what their own views are but still ask others how they view the market, leading to the following negative phenomena:

1. Your views and directions are roughly the same as his

2. The thoughts of two people are completely inconsistent. The former may be fine; both can be pleased (but it may also encourage their own greed). The latter is troublesome; for example, if someone else's analysis seems more accurate and comprehensive than one's own, doubts about their own judgment will arise, leading to a chaotic mindset.

At this time, trading completely lacks a broad perspective and is very limited. Therefore, I personally think discussing market trends is certainly necessary, but one must pay attention to the circumstances. It is best to communicate more about mindset and share past mistakes rather than how to view future market trends. I believe discussing how to view future trends is fundamentally of little significance; who knows what the future market will be like?

Because what we need to do is not predict how accurate the market trends are but to determine what strategy to use when the market is unfavorable to us; when the market is favorable, making money is a natural outcome. Therefore, if the strategy is well-prepared, there is no need to be overly troubled or mysterious about analyzing the market. Moreover, I personally believe that blindly predicting market trends is inherently unrealistic.

Investment success is simply about repeating simple and correct actions.

The market is like the primeval forest of Africa; the most important thing is survival. The principle of technical analysis is: strive for simplicity, so simple that it does not require thinking, and do not blindly believe in complex technical analysis methods. Have confidence in the system you set for yourself, rather than relying on personal emotions, prejudices, or wishful thinking. If you want to surpass or improve it, the system you are about to use must be tested by time and practical experience.

You must have patience to wait for the system's operational signals from the sidelines. Once you build your position, you must have the same patience to hold it until the system issues a reversal signal. You must strictly adhere to principles and operate according to the signals indicated by the system. Only when the market shows a strong trend should you enter. If you make a wrong trend judgment, exit immediately; if your trend analysis is correct, pyramid your positions. Money is 'earned' by sitting, not by trading, and you can only close positions when you use objective methods to assess trend reversals.

How to pass the boring time of holding long positions is also key to whether one can hold long positions. If necessary, you can adopt an 'ostrich policy' to avoid the intense tension that arises during significant market fluctuations.

The risks and rewards contained in prices are possibilities, not certainties. We can use technical tools to assess the probability of such occurrences, but we cannot say it will definitely happen, which is why we need to set stop-losses.

You can only trade based on your views of the market. Once people start to predict things, their vanity will manifest, making it difficult for them to accept anything that diverges from their predictions during the trading process. However, true wealth is achieved through wise exits, as it allows traders to stop losses and roll profits.

In summary, people make money by discovering themselves, realizing their potential, and aligning themselves with the market's pace. When a rebound or consolidation occurs, people start to become hesitant, and trading often becomes frantic, with frequent switching between long and short positions, losing not just direction but also themselves. This self is faith and its trading system!

This kind of confusion often prevents traders from going further. As long as you trade based on signals and act according to the rules, you will unwittingly find that trading is not that difficult. Persist in one approach, study it thoroughly, control your mindset, and you will succeed.

Most investors do not realize that only a few days each month can lead to big profits. For the rest of the time, if they are not in trouble, they are doing their job well. Remember to always keep your account intact and wait for a big market opportunity.

Trading is like warfare; if you have a 50% grasp, you don’t fight; if you have 70% grasp, you still don’t fight; you must wait until you have a 100% grasp before putting in all your effort. But battles change in an instant; how can there be 100% certainty? Technical analysis is the discipline of traders' actions, primarily not prediction.

It helps you identify trends and follow them. Move when you have to, stop when you must. In a strong market, the buy points in technical indicators may be accurate, but the sell points may not be; in a weak market, the sell points may be accurate, but the buy points may not be. A position that 'follows the trend' may yield substantial profits.

So do not easily 'abandon ship.' During this process, there may be many temptations that entice you to take advantage of small fluctuations and act against the trend. Unless you are familiar with this path and have set stop-loss points, do not enter or exit casually.

People invest based on the fluctuations in prices, but if the hearts of people fluctuate faster and larger than prices, they lose the most precious steadiness. Therefore, their judgments about trends can easily go awry, and of course, they are more likely to overturn their established investment plans repeatedly, falling into the trap of chasing highs and cutting losses.

Secrets to success in the cryptocurrency world: Don't regret later.

Profit means sticking to the trend positions that others have given up, seizing opportunities that others do not want, and doing what others dare not do. Investment only has insufficient perseverance leading to abandonment, but there is no complete failure. The same goes for trading; initially, one may have a favorable view, but with market fluctuations, they may change their original direction. Originally bearish, they might exit and go long just because the market rose a little, ultimately delaying the downward trend and causing losses against the trend. Such examples abound in trading; any success requires persistence.

So what are the four mindsets and five skills that a successful cryptocurrency trader should have for long-term survival in the market?

1. Do not be proud and complacent when making profits

An arrogant person ultimately destroys themselves in their pride. In the process of investing and managing money, if a person becomes proud and complacent because they have made money from profits, they will eventually face a day of losses. The reason is that proud and complacent individuals will ignore others' opinions and suggestions due to their minor achievements. Even if the market changes, they will stubbornly believe in themselves, thinking their decisions are correct, and will neglect risk prevention, ultimately likely suffering losses.

2. Do not rush to recover losses when in the red

It is normal to have both gains and losses in cryptocurrency trading. Having talked about profits, let's now discuss losses. Profits can make some people proud and complacent, while losses can stimulate many people's desire to recover. But recovering also requires timing; if one is eager to recover, they might make irrational decisions. For instance, some people, eager to recover losses, might bet all their cryptocurrency funds on a coin that seems to have great 'potential.' However, the market is always unpredictable and uncontrollable. If that particular stock declines, not only will they fail to recover their losses, but they may also incur even greater losses.

3. Do not be greedy for quick gains

Building wealth through cryptocurrency trading is a long process. If during this process you are both greedy and want to make money quickly, it is basically impossible to achieve wealth growth. Because these two mindsets will lead to a relentless chase for profit, and when faced with high returns, rationality will be lost. However, high returns mean high risks, and blind investing can only lead to failure. Only by pursuing stable wealth growth can one balance risks and profits.

4. Do not be overly concerned with gains and losses

Yingying believes that investors who are overly concerned with gains and losses often find themselves entangled for a long time before investing, fearing their money will incur losses. Once they finally make the decision to invest, this psychology becomes even more pronounced. As soon as they see their account balance decrease, they become anxious and irritable. If it decreases too much, they either withdraw their funds or seek insider information, hoping to recover losses quickly, which ultimately results in losses. Moreover, if they hear news about platforms running away or withdrawal difficulties, they will worry about the safety of their investments, even if their platform has encountered no issues, and choose not to invest anymore, making it difficult to continue on the path of investment and wealth management.

Day trading skills and points to note

1. Market sentiment and emotions can be analyzed from the changes in trading volume and open interest to gauge the strength of bullish and bearish sentiment.

Increasing volume without a price drop may indicate a bottoming out; increasing volume without a price rise may indicate a short-term peak.

The volume requirements during the rising process and the falling process are different.

In the rising process: a sustained and even increase in volume is needed. In a three-minute candlestick chart, even volume indicates that the uptrend will continue. If there is a significant decrease in volume or a very large volume appears, the rise may pause. In the declining process: as long as there is an increase in volume when breaking some key positions, the downward trend will continue.

When the price rises to a certain level and stops rising, yet positions continue to increase, and the buy-sell orders are getting lower and lower, it indicates that the price may be about to drop.

Increasing positions while stagnating is a very good opportunity to short, or rather, increasing positions while declining easily leads to rebounds.

2. Key points: Draw pressure, support, trend lines, etc., on the chart, and take swift action when prices reach or break through these key points.

I personally use the golden ratio to predict resistance and support.

3. Trading rules: Only one type of product can be operated within a specific timeframe.

Continuously track the varieties you are operating; only give up when they no longer possess speculative value.

4. Market observation windows: One-minute window -- used for timing entry and exit; three-minute window -- used to monitor the wave conditions after entering; 30-minute or 60-minute window -- used to monitor intra-day trend changes at any time.

Here’s a reminder for everyone: Opportunities for operation are immense; if you have been stopped out, do not rush to recover immediately.

Once you have been stopped out, that order is complete. The next order is a new one, and the profit is what it is. Do not set the target for the next operation based on previous actions, as that will lead to losses every time.

5. Be sure to keep records

Try to record your feelings and operational details at that time, because words do not lie. Only through true records and careful summaries can you find direction for the right decisions next time.

To be honest, being able to personally experience and witness such historical moments is indeed a rare growth opportunity. In other words, this experience is a necessary path to becoming a mature investor. As the saying goes, only by experiencing it firsthand can one have a greater perspective.

In the investment process, 'seeing is believing' is an illusion, but it is also the only magical power that allows people to truly believe and accumulate knowledge and experience.

If you do not fully utilize and absorb this historical experience, that would truly be a waste of this precious opportunity.

6. Never go all in

Whether in the cryptocurrency market or the stock market, truly mature investors do not choose to be fully invested at all times.

Because black swan events -- those extreme situations -- will definitely occur, especially in a volatile market like cryptocurrency. This is a seemingly simple truth, but it is very difficult to execute in practice.

Of course, you may have various reasons to go all in, such as having little capital or believing that the asset you just bought is about to rise. Regardless, you always feel unwilling to let money sit idle, and you constantly have the impulse to invest it. I completely understand this feeling. But reality often mercilessly teaches those of us who are all in a lesson.

Therefore, I decided to leave at least 15% of my positions empty after the next rise. Originally, I wanted to leave more, but I know I might not be able to part with it, so I will take it slowly. After all, cultivation is not achieved overnight. This reserved capital will only be reinvested when the market shows a decline of around 30%.

7. A crash is the best test of human nature

A crash is both a mirror of human nature and a touchstone of it. Just as most people can share joy but find it difficult to share suffering, each crash not only causes cryptocurrency prices to plummet but also reveals the truth of human nature.

In the past, I helped a few strangers earn several times their money. Some were grateful and insisted on transferring coins to thank me; while others felt very capable when they made money, but once they lost, they blamed me.

This crash especially highlighted these differences; of course, I'm not foolish. After this, I am already clear in my mind how to treat these people.

8. Always only buy those coins that allow you to hold them with peace of mind

To be honest, the reason I didn't panic this time is that over the years, whether buying coins or stocks, I only buy those targets that I believe are completely fine even if held for more than five years. This has become my amulet for sleeping soundly.

Of course, I have to admit that the various fluctuations in the market recently made me unable to resist buying some small coins. However, since the amounts are small, even if they go to zero, I can accept it, so I am not too panicked. I hope everyone can remember and follow this principle; this way, you will avoid many troubles and significantly improve your quality of life. Only by holding truly high-quality assets can you truly achieve peace of mind.

A profound insight: The survival rule in the cryptocurrency world is not to pursue short-term profits but to build a stable profit system. The effect of compounding is like a snowball; the longer it lasts, the more powerful it becomes. Only by establishing a scientific position management and risk control mechanism can assets continue to appreciate amidst market fluctuations.

In the face of the ever-changing market, we need to establish a dynamic observation system: when Bitcoin breaks through key resistance levels, when mainstream coins show divergence signals, and when the market sentiment index enters extreme ranges, these are all important nodes worth paying attention to.

The real winners in the cryptocurrency world can reap profits during a bull market and preserve their strength during a bear market.

The path to enlightenment in cryptocurrency trading is the same: from losing seven times to breaking even twice, then to making a profit, it is nothing more than remaining focused, not coveting various profit models; firmly sticking to one trading system, and over time, this system will become your cash cow.

I only do live trading; the team still has positions available.