From losing 400,000 dollars to reaching new highs in Holdings, a trader's self-narrative and reflection

As a trader in the web3 space, I have experienced the journey from a loss of $400,000 to my portfolio reaching a new high. This experience has given me a deep understanding of the nature of the market and how to trade and invest correctly.

My Trading Journey

2019: First year in the industry

In August 2019, I left my job after working for four and a half years and decided to spend six months specifically studying trading. At that time, I had no understanding of chart analysis and trading, but I still started to try options and stock trading.

I didn't enter this industry to become famous; I just want to learn some basic knowledge. Unfortunately, the Bitcoin market has been quiet during this time, which is not a good time for a beginner.

2020: Bull Market "Genius"

In 2020, with the outbreak of the COVID-19 pandemic and the Federal Reserve's massive money printing, the market experienced a "rise without fall" trend. I started trading with high leverage, and my account balance kept increasing.

I seized multiple rising opportunities with Dogecoin, SOL, Bitcoin, etc., becoming a typical "genius" of the bull market. On the FTX platform, my account balance once reached $250,000.

2022: fell to the bottom

At the beginning of 2022, the market began to decline, but I continued to go against the trend. I invested the last 40,000 USD of my personal funds into call options for the S&P 500 index, and within a few hours, I lost 30,000 to 35,000 USD.

This devastating blow has completely shattered my confidence. I have lost over $400,000 in total, which means that all my efforts over the past few years have been in vain. I had to sell off assets to pay the bills and even asked my parents for help multiple times.

2023-2024: Rise Again

In May 2023, I found a job. In August, I used the money left by my grandmother to buy some Bitcoin. I also invested money from my personal retirement account into a Bitcoin ETF.

I continue to work and accumulate Bitcoin. Since the middle of 2023, I have been able to achieve stable profits and minimize losses. Now, my portfolio has reached new highs multiple times.

Painful Lessons and Insights

1. Mindset: Making money should not bring euphoria; you should calmly manage your funds.

2. Recognize reality: The assets in the exchange are not real, and you should withdraw them in a timely manner.

3. Leverage: Use leverage in small amounts and responsibly.

4. Follow the money: Pay attention to the hotspots, but control the risks.

5. Grasp the Narrative: Pay attention to the mainstream market narratives, but do not follow the trend blindly.

6. Hold your spot with peace of mind: Spot does not have a closing price or maintenance cost.

7. Accept losses: Do not hold onto illusions, cut losses in a timely manner.

8. Understand market psychology: go against the trend when others are fearful.

9. Make good use of time: patiently wait for opportunities.

10. Learn to observe the market: Identify changes in market patterns.

11. Stay focused: Concentrate on managing a few high-quality Holdings.

12. Make reasonable use of third parties: hedge your own emotions through tools like robo-advisors.

I hope my experiences and lessons can inspire everyone. Never give up, the market will always provide opportunities for those who are patient.