My resume in the cryptocurrency circle is a standard journey that new players must take. I hope you can read it patiently and learn some tricks from my experience in the cryptocurrency circle so that you can avoid taking 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 90% 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 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 100X contract journey. With the help of the 100X contract, I lost 2 million 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.

My mentality after the explosion 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 had insufficient balances. 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 and 100X, and later I played 2000U-5000U and directly 125X. 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 440,000 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 my journey of gambling on altcoins! I bought countless fake coins, and made some gains and some 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

As a colleague who has 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 the last wave was listed on a certain exchange. Because when I was playing the plate, I knew that once any project reaches an unprecedented level of popularity, it will definitely not be far from collapse. Although it has increased by 1 times after listing on a certain exchange, I think among many SHIB players, I am one of the very few who have secured my profits and got off the train safely.

What is very interesting here is that I resisted my greed for the first time in the cryptocurrency circle and chose to get off! In fact, I was very conflicted when I got off, because almost all cryptocurrency communities were constantly CXing, and under the unprecedented CX of all people, although I 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 man in the community, who woke me up at the time, and he also told me: No one can get on the bus at the bottom and jump off at the top, so you should stop when you are ahead.

In fact, the same is true for the recent Dogcoin on the SOL chain. When it is most popular, it must be the time when the cuts are the most severe.

6. Stop trading, keep learning from experience and improve your cognition

After experiencing a huge loss in the early stage and then recovering the investment in the later stage, I chose to stop first, learn from the experience seriously, and improve my understanding of the cryptocurrency circle. Because this circle is full of "plunder", anyone in the cryptocurrency circle will want to squeeze value from another person; during the time when I stopped trading, I learned to think.

7. I am the only one who lost money when I started my own community.

At the beginning of 2020, I also tried to build a community myself. My initial intention was that the cryptocurrency community was too chaotic, full of shouting orders, recruiting people, etc. I thought I could keep myself clean and set an example by not recommending projects, not taking orders, etc., just like what many Weibo answerers write in their personal profiles now. Do you think I am advertising myself? Please continue reading!

I really didn't expect that I could lose money by running a social network. I had a very good relationship with many group members at that time. Sometimes I needed U and was very happy to borrow U. In short, we were like good brothers. We chatted in the group during the day and played LOL and Genting together at night! It was a lot of fun.

Here comes the exciting part: two or three very close group friends recommended a certain project to me at the same time. Out of trust (watching them make money by holding positions), I jumped in without any understanding or background check. Because these group friends are very good at playing, they probably know how much capital I have. At the beginning, I bought 500,000 yuan, and then I was fooled to increase my position to 1.5 million yuan. The market also cooperated with me very well, rising a little every day; however, one morning when I woke up and saw that my 1.5 million position was actually worth 200U, I woke up in an instant. Then I went to the group to ask if anyone had bought a certain project like me, and I was shocked! More than half of the group members had bought it! In the end, it was estimated that the entire group had bought tens of millions of yuan.

Many group members came to me and asked me to give an explanation! I didn't understand it at the time. I didn't push any projects to them, and I wrote the group announcement very clearly, asking everyone to be vigilant against those who recruit people to cut leeks, don't add friends privately, don't buy projects recommended by anyone, etc.! But when I think about it, I was fooled, let alone them. Later I learned that while playing games with me, they recorded a lot of videos and audios, etc., and showed many group members in casual chats that they were good brothers with me and had a very close relationship with me, in order to endorse my credit.

After that, I went to several cities with big investors and accompanied several big losers to my uncle to make statements. I provided all chat records and group records, but in the end, nothing happened. I was also scolded by my uncle and deleted all apps related to the cryptocurrency circle in front of him... It was quite embarrassing!

8. Return to your original intention and be a lone ranger

After experiencing so many pitfalls in the cryptocurrency circle, I still choose to be a lone ranger silently. In fact, I have joined a lot of communities, but I seldom show up. Most of the time I just check to see if there is any new news. I have also seen a lot of actors in the communities, who are just fanning the flames and showing off their acting skills!

I also learned to be humble (timid) and no longer expose my positions and funds to anyone. Many shills would pretend to be newbies and try to get close to me, but I would know what they were after just a few words.

It was during this stage of being a lone ranger that I began to explore how to open and close positions, began to consider more about capital allocation and information channels, and gradually improved myself. This is how I can now barely lie down and live.

Summarize

In fact, many coin friends will experience the same journey as me in the coin circle, from ignorance at the beginning, to arrogance later, to reflection later, and finally to calm down and take it slowly. People who entered the circle at the beginning came for a quick fortune, and gradually realized in the process of losses and being tricked that any industry still needs to be done step by step. Without absolute ability, it is impossible to get rich quickly. Some people may ask unconvinced: What about luck?

I have also made astronomical amounts of money by luck, but luck will not always be with you. You may have good luck today, but what if you have bad luck tomorrow? The bull market is considered luck! In the bull market of 20-21, my floating profit was up to nine figures at most, and finally retreated to eight figures at the end of 21. The money I made by luck was almost all lost by strength. The more you think you are smart, the more you lose. There is no shortage of smart people in the currency circle, but these are all smart people.

In the cryptocurrency circle, you must not deceive yourself, be as afraid of the market as possible, and rather make less profit or no profit, and try to make yourself lose as little as possible. Because every loss will have a certain impact on your dignity and mentality. If you have not experienced many fluctuations in profits and losses, it is easy to do extremely impulsive things.

Everyone is welcome to come to me for consultation and learn about the experience in the cryptocurrency circle. I will answer your questions free of charge in my spare time.

The cryptocurrency world is a place that requires patience. It is not a place where you can just close your eyes and think about making millions from three thousand yuan.

The cryptocurrency circle requires long-term dormancy, a lot of trading training, experience in judging news, and experience in judging market trends.

No one and no industry can make money easily without any effort and learning.

Don’t immerse yourself in stories about getting rich overnight every day and fantasize that you might be the male protagonist. In fact, we are all passers-by in the male protagonist’s story.