From 4 million to 700,000, then climbing back to 10 million: My ridiculous decade in the crypto world
On Christmas Eve 2018, in a rental apartment in Shanghai with the air conditioner gasping for breath, I stared at my account, my teeth chattering. Just three days ago, I had a floating profit of 4 million, and I was dreaming of quitting my job to drink iced cola. But when Bitcoin plummeted, my 400,000 principal plus interest was reduced to 700,000, like having my hair cut off in a chives field.
At that time, I understood that the “paper riches” in the crypto world vanish faster than ice cream melts in summer; it’s sweet for a second and then turns into sticky “tears of wealth.”
Ten years of hard work to reach 10 million, all gained from stepping into pits and accumulating experience. Today, let’s talk about something practical:
① Leverage is a knife, not wings
Back then, I played with 20 times leverage, earning 500,000 in a single day, feeling so good that I wanted to order double portions of salmon at a sushi restaurant. But after the “924” regulation hit for two hours, my account almost went to zero. Now leverage is capped at 3 times, with a single coin position ≤ 5%. This isn’t cowardice; it’s leaving a way out for my wallet—surviving means having the qualification to make money!
② Mainstream coins are ballast, while altcoins are mostly an IQ tax
I once took 300,000 to chase “hundredfold altcoins” and when I earned 1.8 million, I even thought of a nickname as the “Warren Buffett of crypto,” refusing to take profits. In the end, the project team ran away, and both the money and the dream went to zero, like opening a package only to find an empty box and being scolded as a “fool.” Now, 85% of my funds are in BTC and ETH, and 15% is used for playing with new coins like pocket money—if I lose, I won’t feel heartbroken, and even if the market surges, I won’t capsize.
③ Stop-loss is a life-saving charm, not a shame pole
In the past, when it dropped by 15%, I would add to my position, always thinking “just wait a bit and it will rise,” resulting in a loss of half a house, almost getting my keyboard smashed by my wife. Now, I set a hard stop-loss at 8% for every trade; if it hits the line, I run. A drawdown of more than 8% usually indicates a wrong judgment, and recognizing mistakes in time can protect the principal—opportunities are as numerous as stars, and without capital, you don’t even have the qualification to look at the stars.
Now, having a 10 million account isn’t a glory; it’s the “interest” of being disciplined. I have already hung up a lamp for the night roads of crypto; if I want to avoid the fate of a chive, let’s follow the rules together, protect the principal, and wait for the next market to drink “iced cola of financial freedom”!
