众横

From learning to drive during the snow disaster in 2008 and listening to my fellow passengers talk about the stock market being very profitable, I developed an interest by chance and began exploring successful methods within it. I remember in 2010 when my youngest daughter was born, our family business was doing quite well, making about 300,000 a year. With 1.08 million in savings, I ventured into London gold and TD spot gold and silver in banks, ultimately losing everything, especially during the surge of gold and silver that year. Fortunately, our family business supported me until 2014 when I recovered all losses. Throughout, I never gave up exploring the financial markets. Crossing the river by feeling the stones indeed can lead to severe setbacks. This way of life continued alongside the booming business until 2017 when, unfortunately, the business plummeted, forcing me to deregister the company. At such times, people can easily go astray. Watching my resources dwindle, I believed my experience and knowledge in the financial market could shine, so I decided to venture into futures. It did provide me hope initially, coinciding with the peak of real estate, where rebar steel, iron ore, and coke—everything related to real estate—soared. In a short time, my initial capital of 900,000 quickly surged to 2.3 million. However, unlike the cryptocurrency market, futures contracts have expiration limits, requiring me to close positions or settle before expiration. This led to new month contracts being priced much higher than my previous costs, and due to psychological factors, I hesitated to chase the market upward and tried shorting instead, resulting in an unmanageable situation of infinite losses. Ultimately, I collapsed, losing over 2 million cash accumulated from doing business and futures profits. At that moment, my mentality was akin to many who faced liquidation, comparable to gamblers in Macau, only thinking about finding funds to continue trading, completely oblivious to the seriousness of the consequences. I sold houses, storefronts, cars, and maxed out online loans and credit cards, ultimately losing over 4.6 million in total assets, nothing left but burdened with hundreds of thousands in debt, ending up with a broken family. This was all self-inflicted. After bankruptcy and divorce, I came to Shenzhen to work. I intermittently came into contact with the cloud mining platform released by Xunlei in 2018. I spent 50,000 to buy 60 units when prices were still rising, but I was also cut by the market in cryptocurrency for the first time, losing everything. During this time, I worked and in 2020, entered the booming cryptocurrency market with the 20,000 I earned from working. I quickly made 200,000, a tenfold increase, something I never dared to dream of in stocks, futures, or forex markets, especially without using leverage. As prices soared, my funds reached a peak of over 3.6 million. My confidence inflated, thinking I could achieve financial freedom in one go, completely forgetting I still had hundreds of thousands in debt. Believing the profit was due to my skill, I failed to recognize the impending risks. In the second half of 2021, as Bitcoin approached its April high, I heavily leveraged bets expecting a second dip but instead hit a major top and went short. At this time, I completely disregarded the risks, thinking it couldn't break the new high of 65,000. Yet, it peaked at 69,000, and I could only handle a margin call at 67,000, leading to liquidation. I didn’t repay a single cent of debt and was left with only a car for commuting. In the end, I reflected and summarized that my eagerness for quick success and reckless heavy investments without stop-losses led to my downfall. After this experience, I once again left home and continued working in Shenzhen. During this time, I used my earnings to try different strategies, achieving small profits of 100,000 and 200,000, but ultimately unable to hold onto them, and I never made a significant profit. Fortunately, in 2024, I started trading with over 3,000 RMB, initially reaching 15, 26, and 440,000, gradually clearing family debts of around 150,000, which were incurred during my futures collapse. After clearing these debts, I had about 500,000 left and contacted a friend who offered commission rebates. Since it was an old account with no rebates, I had to deregister it and create a new one to start the rebate model. I could earn several thousand to over ten thousand every week. In September, I quit my job in Shenzhen to rest and returned home with 1.25 million to start repaying credit cards, online loans, and all debts, totaling over 300,000, with previous withdrawals expected to approach 500,000. Unfortunately, the old account was deregistered, and I couldn't check it, which was regrettable! After repaying my debts, my health improved considerably, and my account had over 1.8 million left. At that moment, I don't know why I decided to go short before November; perhaps it was the result of relaxation during recovery, as I lost my awareness of market risks and became obsessed with transaction fees, which ultimately harmed me. I heavily went short on Bitcoin at 66,000 on October 29, and 30, resulting in significant losses of several hundred thousand, but it wasn't irretrievable yet. If I had observed Ethereum's monthly chart producing three consecutive lower shadows and noted Bitcoin's consistent bullish trend, I could have waited for Ethereum's November monthly chart to drop below the lowest point in October before reversing to go long on Ethereum. I had encountered such situations in the oil futures market before; regardless of past weaknesses, numerous lower shadows in a monthly chart are noteworthy, especially in foreign markets. Unfortunately, human weaknesses reared their heads again. I was unwilling to admit my mistakes and held onto my Bitcoin short position. On November 5, Bitcoin produced a lower shadow, and Ethereum didn’t break the lowest point of October. At that moment, I still hadn’t realized the impending risk. I clearly remember that on the morning of November 6, right at 8 o'clock while I was cooking breakfast, a big bullish candlestick shot up, and Bitcoin started its main upward wave, while Ethereum strongly rebounded. When the bullish candlestick appeared, I had around 700,000 left in my account; I burned my hand on the pot while cooking noodles, having lost my rationality, completely out of control. This state can be likened to being high, similar to a gambler in Macau; when one loses, they become irrational and cannot calmly deal with subsequent matters. The final outcome was a complete blowup within days! Now reflecting on that moment, I made the same mistakes as many high-profile traders who have lost everything and jumped off buildings. Emotions affect people; the decisions made at that time seem foolish in hindsight. Simple market conditions were mismanaged, turning a wealth freedom opportunity into a disaster. Knowing and doing are truly two different things, which is one of the main obstacles that many traders face to success. I wrote so much just to say that trading doesn’t have a one-size-fits-all method; making money today doesn’t guarantee future profits. Profits depend on the market conditions being favorable. Strive to take profits and exit once successful; remember to exit after achieving success. At this moment, I am still working in Shenzhen, making money to fight again. Some friends have contacted me to provide funds to continue trading, but I am not interested. After walking alone for so many years, I don't want to pull anyone else into it. I just want to reach the other side by myself! After the liquidation, I had 45,000 RMB to enter a trading group, peaking at 170,000, but unfortunately, I hadn’t fully recovered from the previous liquidation. I kept thinking about making millions in a short time, but that 45,000 only yielded around 8,000, and then it was gone. I sincerely apologize to those who followed me into liquidation! Lastly, I want to document my youthful appearance. Under pressure, I am aging quickly; after all, I am 36 years old, and I don’t know how long it will take to succeed.

From learning to drive during the snow disaster in 2008 and listening to my fellow passengers talk about how profitable the stock market was, I developed an interest by chance and began exploring successful methods within it. I remember my youngest daughter was born in 2010, and for a few years, our family business was doing quite well, making about 300,000 a year. With 1.08 million in savings, I got involved in London gold and bank TD spot gold and silver, but ended up losing everything, coinciding with a time when gold and silver prices were skyrocketing. Fortunately, our family business supported me until 2014, allowing me to recover all my losses. Throughout this time, I never gave up exploring the financial market. The process of 'crossing the river by feeling the stones' can indeed lead to painful experiences. This situation persisted until 2017 when the business took a drastic downturn, ultimately forcing me to shut it down. It was easy to go astray during this time. I thought my experience and knowledge in the financial market would help me shine, and I decided to venture into futures. Initially, I saw hope, as it was during the peak of the real estate market, and commodities related to real estate like rebar, iron ore, and coking coal were soaring. In a short time, I managed to turn my 900,000 capital into 2.3 million. However, unlike the cryptocurrency market, futures contracts have expiration limits, requiring me to close positions or settle before expiration. This led to new contract prices being much higher than my previous cost, which made me hesitant to continue buying and forced me to try shorting instead, resulting in uncontrollable and infinite losses. In the end, I collapsed, losing all the cash accumulated from my business (over 2 million) along with the money made from futures. At this moment, my mindset was similar to many liquidated traders and gamblers in Macau; I was completely broken and only thought about finding funds to continue trading, neglecting the severity of the consequences. I resorted to selling my house, storefront, car, using online loans, and credit cards, ultimately incurring over 4.6 million in losses and ending up with nothing while being burdened with hundreds of thousands in debt, leading to a broken family. This was all self-inflicted. After the bankruptcy and divorce, I came to Shenzhen to work. I intermittently got involved with the cloud mining project from Xunlei in 2018, where the output of LinkCoins could be exchanged for cash. I spent 50,000 to buy 60 machines, and the prices had increased from the original price. I had to scramble to get them, but I ended up being cut in the cryptocurrency market for the first time, losing all my investment. In 2020, relying on my job earnings, I entered the Huobi platform during a booming cryptocurrency market with 20,000 and instantly made 200,000, a tenfold increase. This was something I never dared to imagine in the stock, futures, or forex markets, and I did not use leverage. As the market rapidly rose, my funds peaked at over 3.6 million, and my confidence began to swell. I thought I could achieve financial freedom in one go, completely forgetting that I still had hundreds of thousands in debt. I mistook my profits for skill, failing to recognize the impending risks. In the second half of 2021, when Bitcoin approached its April high, I heavily leveraged a short position, believing it wouldn’t break the new high of 65,000. Instead, it peaked at 69,000, and I could only hold my margin until 67,000. In the end, I was liquidated, leaving me with no debt repaid and only a car for transportation. I later reflected that my eagerness to succeed and heavy investments without stop losses harmed me. After that, I once again left my hometown to continue working in Shenzhen, using my earnings to try different strategies. I achieved small profits of 100,000 and 200,000 but ultimately couldn’t hold onto them, and I never made big money during this period. Fortunately, by 2024, I started with 3,000 RMB, gradually making profits of 150,000, 260,000, and 440,000. During this time, I gradually cleared around 150,000 in family debts related to the losses from futures trading. After clearing these debts, I had around 500,000 remaining and contacted a friend for rebates because my old account, established years ago, had no commissions. I was forced to cancel the old account and register a new one to start the rebate process, averaging several thousand a week. By September, I resigned from my job in Shenzhen, returning home with 1.25 million to recuperate, starting to pay off credit cards, online loans, and all debts totaling over 300,000, with previous withdrawals expected to be close to 500,000. Unfortunately, I had canceled my old account, making it impossible to verify. After clearing my debts, my health had improved, and I had over 1.8 million left in my account. At that time, I didn’t know why I decided to short before November, perhaps because my recovery made me relax my risk awareness. I was still lost in my habits, particularly regarding transaction fees, which hurt me. I heavily shorted Bitcoin at 66,000 on October 29, and October 30 indeed caused me significant losses, but it was not irreversible. If I had observed Ethereum's monthly chart showing three consecutive lower shadows and noticed Bitcoin was in a bullish trend, I could have waited until Ethereum's November monthly chart came out and if it didn’t break October’s low, I should have stopped my loss and gone long on Ethereum. I had encountered similar situations in the oil futures market, where significant numbers of lower shadows, especially in foreign markets, should be taken very seriously, given their high accuracy. Unfortunately, human weaknesses showed through once again; I was unwilling to admit my mistakes and held onto my Bitcoin short position. On November 5, Bitcoin formed a lower shadow, and Ethereum also didn’t break October’s low. At this point, I still hadn’t realized the impending risk. I clearly remember that on the morning of November 6, right at 8 AM, while I was cooking breakfast, a large bullish candlestick emerged, and Bitcoin began a major upward wave while Ethereum rebounded strongly. When that large bullish candlestick formed, my account had around 700,000 left, and I burnt myself while cooking, losing control of my rationality regarding my account. This can also be described as being overly excited, akin to the state of gamblers in Macau; when losing, one cannot calmly manage the following situation. The outcome was that within a few days, everything exploded! Now, reflecting on that moment, I realize I made the same mistakes as many trading experts who have committed suicide after making huge profits. Emotions play a role in trading, and looking back, the decisions made were foolish. A seemingly simple market turned into such a disaster for me. A chance at financial freedom was squandered this way. Knowing and doing are indeed two different matters, which is one reason many traders struggle to succeed. After writing all this, I just want to say that there is no foolproof method for trading; making money today does not guarantee future profits. Profitability often depends on market conditions that align with one's strategy. It’s crucial to retire once you are successful. At this moment, I am still working in Shenzhen, earning money to fight again. Some friends have contacted me to provide funds to continue trading, but I don’t want that. I have walked alone for so many years and don’t wish to involve others; I just want to reach the other side on my own! After the liquidation, I also invested 45,000 RMB into a trading group, reaching a peak of 170,000, but unfortunately, I haven’t recovered from the previous major liquidation, always thinking of making millions in a short time. As a result, I only withdrew 8,000 from the 45,000, and then it was gone. I sincerely apologize to those who followed my lead and faced liquidation! Lastly, I want to record my youthful appearance; under pressure, I also feel old quickly. After all, I am 36 years old, and I don't know how much longer it will take to make it.