From 8 Million in Debt to 200 Million: A Wealth Revelation from a Veteran in the Crypto World
I. The Ups and Downs of Wealth
The decade-long journey of this crypto veteran is a textbook depiction of market cycles:
1. First Taste of Sweetness: Entered the market with 8000 yuan during a bull market, assets soared to 10 million
2. Painful Lesson: Driven by greed, not only lost profits but also incurred 8 million in debt
3. Comeback: Borrowed 200,000 to make a comeback, reached a peak of 20 million
4. Steady Growth: Currently, assets have surpassed 200 million, with the next target being 1 billion
II. The Truth of Trading Earned Through Blood and Tears
Core Trading Principles:
1. Contrarian Trading: Buy on dips, sell on rallies
2. Timing Choices:
Build positions on large drops in the morning
Reduce positions on large rises in the morning
Don’t chase highs during afternoon surges
Buy on large drops the next day
3. Range Trading Strategy: Sell on breakouts from high ranges, buy on breaks from low ranges
III. Four Deadly Traps
1. Emotional chasing and panic selling
2. Misusing futures leverage
3. Financing and cryptocurrency gambling
4. Frequent short-term trading
IV. Four Broad Highways
1. Focus on Main Business: Maintain stable income sources
2. Invest with Spare Cash: Only use funds you can afford to lose
3. Value Investment: Position in bear markets to reap gains in bull markets
4. Never Fully Invested: Keep ample reserves
V. The "Foolproof" Profit Secret
Probability and Odds Thinking:
Think like a casino, establish your own "advantage boundary"
Calculate before each trade: Potential Profit / Potential Loss ≥ 3:1
Only engage in trading opportunities with a win rate over 60%
Practical Case:
When Bitcoin is consolidating at $30,000:
1. Observe weekly support levels
2. Set buy orders 3% above the support level
3. Set stop-loss 5% below the support level
4. Profit target at 15% above previous highs
VI. Advice for Investors at Different Stages
1. Beginners: Simulate before trading live, establish a trading system
2. Losers: Pause trading, review the root causes of errors
3. Stuck Investors: Customize a solution based on positions and levels
VII. Ultimate Advice
The market always rewards those who are patient and punishes those who are impulsive.
Remember:
In a bull market, making money relies on courage
In a bear market, earning coins relies on patience
Navigating through bulls and bears relies on discipline
If you don’t understand cryptocurrencies, it’s advisable to follow a master!
Success is not just about luck; choices may outweigh effort
