At the end of 2018, I entered the circle with 20,000 yuan, and lost 800,000 yuan in less than a year. I wrote a standard journey that new players must take, hoping that you can learn some routines and avoid detours.
1. The dream stage of wanting to get rich quickly
In the early days of entering the market, most people would not choose Bitcoin or Ethereum, because they felt that the price was too high and the rise and fall was too slow, so I also chose HC (the top ICO project in 2017), which was relatively popular at the time. However, because I had just entered the market and was not well-informed, and I was not very brave to operate, HC kept falling, and I finally lost 40% and decided to sell at a loss. What I want to tell you here is: cheap coins do not necessarily have a high rise, and cheap coins can also fall wildly.
2. Start the contract road after spot losses
After the HC loss, I gradually learned the basics of the cryptocurrency world, so I continued to trade in Bitcoin and Ethereum. It didn’t take long for me to feel that the spot price was rising and falling too slowly, and I didn’t know when I would be able to get rich. So I started my 50X contract journey. With the help of the 50X contract, I lost 400,000 yuan.
While doing the contract, I happened to catch up with the bull market that started in March and April 2019. The floating profit was considerable in the early stage of the bull market, so I was extremely inflated. I felt like I was picking up money (being smart), and I posted screenshots of my profits in many communities. As a result, in June, Bitcoin experienced a correction and my position was directly liquidated.
After the explosion, my mentality was actually very inflated. After all, I made money just by playing around before, and I was full of confidence in myself, so I kept opening and closing positions. Not to mention the profits and losses in the middle, I didn’t react until all my bank cards were running out of balance. In fact, in the process of doing contracts, I started with 100U, and the bigger I played, the more I played. At the beginning, I played 100U with 50X, and later I played 2000U-5000U directly with 100X. Many times, it took a long time for the number of orders I placed to be eaten up. But at that time, I didn’t understand the depth of pressure and resistance, and I just rushed when I saw the right one!
3. After the contract loss, I was brainwashed into CX trading
I encountered the biggest setback in my life in the contract, but I also encountered the beginning of the second setback in my life at this time. Under the deception and warm reception of the group owner of a certain community, I thought I entered the mining industry, but in fact I entered the CX disk! A total of 420,000 yuan was invested in Bell Chain and EGT. Bell ran away within less than a month after entering, and EGT ran away three months after entering, and they didn’t even have time to ship the goods!
4. After the loss, they went to do air coins
After I encountered setbacks in the CX market, many people in the community added me as a friend, so I was pulled into another community by these friends, and started the road of altcoins and gambling! I bought countless virtual coins, and made some gains and losses, but because I didn’t have much money, the profit and loss were not big. It was also during this period that I began to have a real systematic understanding of the cryptocurrency circle and the schools of thought in the cryptocurrency circle.
5. After the loss of air coins, local dogs appeared
With a more systematic understanding of the cryptocurrency circle, the first year of Tugou has also begun! Tugou is everywhere, and I felt that SHIB was very popular at the time, so I followed the community leaders and invested in the SHIB market. It was also SHIB that made me lose a lot of money; when SHIB kept listing on new exchanges, I chose to get off the train when it was listed on HUOBI in the last wave. Because when I was playing the plate, I knew that once the popularity of any project reached an unprecedented level, it would definitely not be far from collapse. Although it rose five times after listing on HUOBI, I think among many SHIB players, I am one of the very few who got off the train safely.
What is very interesting here is that it was the first time that I resisted my greed in the cryptocurrency circle and chose to get off the train! In fact, I was very conflicted when I got off the train, because almost all cryptocurrency communities were constantly CXing, under the unprecedented CX of all people, although I had realized that the project party was very likely to run away, I still wanted to wait and wait, anyway, there was still profit. I am very grateful to a big boss in the community, who woke me up at the time, and he also told me: No one can get on the train at the bottom and jump off at the top, just quit when you are ahead
