From Debt Trader to Earning Tens of Millions a Year: The Rise of a Web3 Legend

He was once an internet product manager but unhesitatingly immersed himself in the ever-changing world of Web3;

He was once a debt-ridden trader, repeatedly falling in the "200,000 curse";

Now it is possible to achieve millions of dollars in profit multiple times with a single currency, with annual earnings exceeding 40 million.

He topped the trading platform's leaderboard three times, achieving astonishing results with real trading: a 20000% return, a single coin profit of 1.4 million USD, and 1.8 million USD profit for followers.

This is not just a simple story of getting rich quickly; it is also a true evolution story of a trader filled with hardships, deep reflection, and continuous growth.

1. Confused Crossroads: The Transition Path from Web2 to Web3

Every legendary beginning is often accompanied by unknown confusion and struggle. The story of this trader is no exception; his Web3 journey began with dissatisfaction with the status quo and a desire for a side hustle. In 2020, due to work requirements, he was introduced to the emerging field of Web3, and in 2021, he officially started his futures trading (contract) career. At that time, he was not all in, but rather approached it with caution and a mindset of experimentation.

"At the beginning, the principal was very small, with a monthly salary of over 10,000, he could take out three to five thousand yuan to trade." He resembled countless young people who have just entered the crypto world—holding a yearning for wealth appreciation, cautiously testing the waters with part of his salary. However, reality quickly dealt him a heavy blow: "The result at that time was that there were both losses and gains, but in the end, the losses were still greater."

The deeper reason is that at the age of twenty-four or twenty-five, he felt a dual bottleneck in his career and life. Economic pressure, such as the responsibilities that a man should bear "buying a house and a car, providing a better life for his girlfriend," these practical considerations made him urgently need a side job to seek a breakthrough. Web3 trading became the "lifeline" in his eyes at that time.

The turning point appeared in an unexpected place. Despite overall losses during continuous trading and investment, he did not give up. He began to try the copy trading feature on a certain trading platform, using a copy trading account named "all in crypto". "I used the copy trading account 'all in crypto' on a certain platform and achieved three times the returns in six months, with very low drawdowns, and thus gained my first batch of followers." This successful copy trading experience made him determined. "Since that time, I resigned and started trading independently, and have come this far."

2. Unconventional "Alchemy": Learning from Real Traders to Avoid Many Detours

"Everyone's path to learning Web3 is different. I prefer the 'wild route,'" he candidly stated. While most people are focused on studying various technical indicators and candlestick theories, his attention is directed towards those traders who exist in real trading software and are able to sustain profits.

His learning method is simple and straightforward but extremely effective: "It's just about looking at the real trades of actual traders in various trading software, getting to know them, finding ways to join their fan groups, and then asking them about the logic behind their trades." He emphasizes that the subjects to learn from must be those "traders who make substantial profits and are willing to share." This almost "apprentice-style" approach to learning allows him to directly access the most vivid trading cases and the most authentic trading strategies.

He admits that what he learned from these predecessors is not a rigid systematic methodology, but rather invaluable practical experience and a guide to avoiding pitfalls. "In fact, what I learned from them is not a systematic methodology, but something that can help you take fewer detours and lose less money." This kind of experiential transmission often strikes at the essence of trading more effectively than theoretical knowledge from books.

Losing money is the best textbook, exploring the "market sense" through repeated liquidation. "Following the map to find the horse, continuously watching the shares and real operations of real traders, asking them how each trade is done, why it can make money, and why it can lose money." This was the core of his early learning. However, just learning without practice is futile; real growth comes from hands-on experience, especially those painful loss experiences. In this way, he explored bit by bit, and combined with his continuous real trading and losses, he slowly "gained" experience through "losses."

3. Rebirth from the Ashes: Breaking the "200,000 Curse", the Epic Comeback of a Debt Trader

Starting from a few k, reaching over 100 k or even several hundred k is no easy feat for many traders. However, he has also been trapped by the so-called "capital threshold" or "psychological threshold" — he has repeatedly brought his funds to around 200 k, only to lose it all without exception, which is what he refers to as the "200 k curse." Breaking this curse was accompanied by an epic market capture and a heart-wrenching "loss awakening."

The real turning point occurred in 2024. He admitted that the success of that wave was, "to be honest, just luck." But luck always favors those who are prepared. "Between March and June 2024, there were actually two waves of market trends, one was the AI trend, and the other was the meme coin trend, and I just happened to catch both. " Moreover, before these major market trends started, he also accurately seized the "second spring" wave of inscriptions. "Basically, I benefited from all three waves of market trends, which allowed me to break through my funding limit."

The successful capture of three consecutive waves of market trends was like a stroke of genius, allowing his capital to achieve exponential growth. More importantly, this tremendous success not only enabled him to pay off all his debts but also accumulated considerable profits. From that moment on, he felt that he could finally "keep going" and break free from the shadow of previous repeated losses.

When losses hit hard, trading truly begins. He has profound reflections on the "200,000 curse" and repeated liquidations. He believes that the so-called capital threshold is often not a lack of trading skills, but rather a psychological issue. "It's more about the psychological aspect - it's not that you didn't learn your indicators well, that you didn't watch the market diligently, or that you don't know how to choose coins, but rather that your character and mindset are not yet in place."

During the debt phase, his trading had already transformed, and his mindset was becoming increasingly "underwater." He described himself at that time as "losing not painfully enough." Despite having lost a lot of money, many positions, and even some positions worth hundreds of thousands that were entirely lost, none of this was enough to make him change completely. "Until I lost to the end, truly unable to lose anymore, and really having nothing left, that was when I truly felt the 'pain of loss,' and it solved all problems." This experience of "waking up from loss" was like a wake-up call, leading to a fundamental change in his attitude towards trading. He began to "treat every trade very cautiously, executing each one honestly."

4. Trading Secrets: Abandon All Indicators and Rely on "Event-Driven" Strategies to Create Millions in Profit

In his early days, he studied trading methods pursued by everyone, such as the dual moving average system, EMA moving averages, naked K, Fibonacci, wave theory, Dow theory, and various turtle rules, etc., but now he only occasionally looks at naked K, moving averages, and trading volume, and basically doesn't use anything else. "Indicators can only help you get better entry points, but they can't determine whether you can make big money in the end. So now I have basically abandoned various indicators; they may still be on the charts, but I won't use them for real technical analysis."

"Don't be too superstitious about indicators. I have personally fallen into various traps, and I once thought I had found a high win-rate strategy, or what you might call a 'trading holy grail', but in the end, I realized that these things are all false; only my own understanding is true." He cited an example, stating that the Bollinger Bands may be useful in Bitcoin's volatile market, but are completely ineffective in a trending market, so one should not be superstitious about indicators.

He focuses on whether there are any hot events driving the market when dealing with small coins, low market cap altcoins, or some relatively niche mainstream coins. This is because his big profits in this round were mainly made through "event-driven" strategies. For example, relying on certain macro events, he shorted a coin and made $1 million, and later capitalized on another coin, earning $1.3 million by buying the dip. Similarly, during a wave of price increase where a certain coin rose 80% over four days, he went long on another coin, increasing his investment from over $1 million to over $5 million, with no losses across nine trades, netting a profit of over $4 million. His operations do not rely on indicators but are based on the market's "missed emotions" and the large exchanges' "listing patterns". However, it is worth noting that when trading mainstream coins like Bitcoin and Ethereum, he will operate in line with the market trend.

"My trading has no system, it's completely adaptable. I can trade in any market condition, and I can use any type of stop-loss method." He has a very high degree of flexibility in his trading and is very cautious with leverage, with the actual leverage being much lower than the nominal leverage. The 10x leverage shown on his trading orders is just surface data; the actual leverage is about 5x, and he builds positions gradually, resulting in an effective leverage of about 4.5x. Moreover, as his capital increases, his leverage tends to decrease, because using lower leverage actually allows him to "hold more confidently and steadily," creating a positive cycle where his profits keep increasing.

His first key trade was in March 2024, where he went long on a certain coin with 5x leverage, increasing his investment from $3,000 to $10,000. At that time, he was the first to notice unusual movements in a certain coin and predicted that another coin might follow suit, ultimately achieving a 2.7x return, with his account net worth increasing by over 40%. After that, he launched successive attacks in the AI and meme coin markets, moving from one coin to another and then shorting a certain coin to counterattack, maintaining a steady win rate and clear logic, rolling his account from $20,000 to $10 million. However, in this process, apart from that one trade with 5x leverage, he basically used 3x, 2x, 1x, and even down to 0.8 and 0.5x leverage for opening trades, ultimately achieving a limit reversal to a ten-million-dollar fortune.

"What really makes the funds move is logic, strategy, and execution, not leverage; what truly creates a gap is awareness, not leverage." he shared.

5. Responsibility of "Car Head": No cutting of fan liquidity, will not actively disclose positions again.

"I don’t cut everyone’s liquidity because I open positions based on logic." He admitted that all the cryptocurrencies he calls out are public and transparent, with no insider trading. Even if he is a "mouse", he is an open mouse. He never secretly enters the market and then calls out trades, and the vast majority of his fans can act ahead of him. Many times, as long as fans see the trades he calls out right away, the returns may even be higher than his own, which is why he has gained a large number of fans.

But now, his mindset has changed. "I've found that some projects are starting to treat me as 'liquidity for selling'. The entire market's liquidity is too depleted now; any good event, once I publicly participate, many people could get stuck at high positions. So now I'm more cautious, and I don't want to do any 'leading' anymore. I'm more inclined to make money quietly, doing my own logic, and if you're willing to believe it, you can follow along; if not, that's fine too. I won't actively disclose my positions anymore because being public now actually harms my fans."

The "logical thinking" mentioned above is the "secret" he talks about the most, and this way of thinking has accompanied his entire trading career. "In addition to continually accepting new information, new events, and new policies, my trading approach has hardly changed—I still use my own trading logic to make money." However, in stark contrast to him, many people who work hard to learn are still losing money. He believes that those who have not made money yet do not necessarily have the "wrong learning path"; the key is whether they have grown after experiencing losses. If after losing, they only think 'forget it', he builds.