Brothers, hello everyone, I am trader Zhu Yici. I have been reading books about trading in the past two years, which gave me the idea of building my own trading system. In a past article, I have stated that I am a subjective trader, labeled as a die-hard long, all-in, and I will hold on to my mistakes, and I will hold on to my profits. My overall trading style is aggressive. I make money quickly in a bull market, but I can't control the pullback in a bear market.
Since the overall market situation after I entered the circle was a process of deep bear turning into bull, I survived every round. I entered the circle in June 2022. As for the big cycle of altcoins, I experienced 2 rounds. The first round was from the beginning of 2023 to April 2023, and the second round was from July 2023 to March 2024.
The first 1 million I made was in early 2024. At that time, Bitcoin hit a low of around 15,000-16,000. We had experienced various black swans and the mainstream opinion of KOLs on the Internet was very pessimistic. Many people believed that Bitcoin would go below 10,000. I just received a sum of 200,000 around the Chinese New Year. I was born rebellious and I didn’t believe in the opinions of most people. I deposited money and went all in on the altcoin HFT spot. This round was done purely on the spot. The most exciting transaction was when the funds reached 450,000. I went all in on the bankrupt coin FTT. I first experienced a sharp pullback, then recovered my investment, and doubled my money on the last night and ran away.
At that time, I had a good habit of knowing how to withdraw funds. I withdrew about 700,000 and kept 300,000 to start the second round. The time point was April 2024, and that round of copycat market was about to end. I divided the 300,000 funds into two parts, 250,000 to buy spot and 50,000 to do contracts. The spot part did not make much money, but the contract increased 7 times in a very short time, and the total funds reached 600,000 again. Starting from May, the copycat market took a sharp turn for the worse, and I began to carry the orders. When the contract was about to explode, I sold the spot that had shrunk significantly to make up for the margin. Big drops followed small drops, and small drops followed sharp drops. Those days were simply dark. I also held on until August 2024 because of luck. There are two operations during this period that are worth mentioning.
The first one was a big drop in June. The depth of the spike reached 50%. I was holding a long position of BLUR at the time. It fell directly from 0.3 to 0.15. Fortunately, I opened an equal hedge short position that morning for risk aversion and escaped the disaster, otherwise I would have been liquidated.
The second was the last drop of the altcoin in July. I had a premonition that my position was going to be liquidated. I made up 200,000 in the morning, and the needle started to hit me in the afternoon. If I hadn’t made up the 200,000 in the morning, the needle would have taken me away in the afternoon. After making up the 200,000 margin, the total balance in my account that afternoon was only more than 170,000. If I hadn’t kept the order that I had held for so long, based on my understanding of myself, my mentality would have collapsed. As for whether there would be a turnaround in the future, I was not sure.
This period of time was really painful and confusing. I would automatically wake up at 2-3 in the morning every day to check the orders. I would be worried every time an important economic data day came. I would often take walks in the community, thinking and looking forward to the uncertain future.
After the last injection in July, the altcoin began to fluctuate upward. In November, the account reached a maximum of 1.3 million. At that time, I made a serious mistake and violated the principle of being bearish but not shorting. I opened a 10x short position in Ethereum with the upper 1.3 million. I ended up losing 300,000 that night and stopped the loss. At 5-6 in the morning, I felt my mentality collapsed and chose to withdraw 700,000 and started my third round.
The third round of one million came very quickly. It took me 4 months to make a maximum of 1.2 million from 300,000. During this period, I was all-in, all-in, and when the funds reached more than 600,000, I chose pure spot trading. In January, I all-in for Binance's new coin AI. The 660,000 was cut in half on the same day, and I held on until the profit doubled. At that time, Bitcoin hit new highs again and again, which made me feel that the copycat season was coming and I was ready to do a big thing. I did not choose to withdraw cash, and as a result, the funds retreated in a straight line. In this process, I reduced the holding cost of the main spot position from 1.7 to 1 through several operations, and at the same time, I raised about 10,000 U of funds to do ultra-short-term low-multiple contracts.
What I do every day now is memorizing English words, reading books related to trading, watching the market and summarizing and analyzing the market and posting them on social media. My life is pretty regular. Compared with those successful people who make tens of millions or even hundreds of millions of dollars, I am a typical representative of retail investors. There is still a long way to go, so cherish every moment and encourage each other!