When I met Lao Chen, he had just wrapped up more than a decade in brick-and-mortar business.
His shop was gone, his employees had moved on, and he was still carrying over a million yuan in debt. He told me that running a physical business was exhausting: rent, labor, renovations, inventory—everything cost money. He’d work himself to the bone all year, only to realize in the end that he’d basically been working for someone else.
Later, he decided to put 3,000U into crypto and give it a try.
He smiled and said to me, “Gongming, losing money in business takes a lot out of you. At least here, if I lose money, I don’t have to sit in a shop all day. If I can make a little and pay off what I owe, I’ll be content for the rest of my life.”
But the market showed him no mercy.
His first trade was a long, and the market turned as soon as he entered. He reversed into a short on his second trade, only for the price to suddenly surge. After several trades like that, his 3,000U was down to just 1,000U.
I was about to comfort him, but to my surprise, he laughed instead. “It’s fine. Everyone has a run of bad luck now and then. I can always start over.”
I told him, “Don’t rush to win it back, and don’t blame your losses on bad luck. First, understand why you entered and exited each trade. The smaller your capital, the less you can afford to rush into proving yourself.”
From then on, he began changing his trading habits. He stopped chasing every rally and jumping in whenever prices fell, and he stopped thinking he had to make his money back immediately after a loss.
His account slowly recovered from 1,000U to 1,500U, then 2,300U, and only later began to grow steadily.
More than a year later, Lao Chen told me he had finally paid off the debt that had weighed on him for years, and he could look forward to life again.
The truth is, Gongming wasn’t born a trading expert. I’ve also been through times when the market barely moved, when I kept getting stopped out, and even when the market hit me so hard I began to doubt myself. Over the years in crypto, I’ve had the highs of catching major moves and the lows that nobody else saw.
That’s why I’ve come to believe more and more that what determines how far someone can go isn’t how much they make on a single trade, but whether they can stick to their rules after taking a loss.
Markets rise and fall. I hope what you learn from me isn’t just how to make money, but also how to make fewer mistakes and last longer in this market.
There will always be opportunities in the market. What’s rare are the people who can wait for them.
His shop was gone, his employees had moved on, and he was still carrying over a million yuan in debt. He told me that running a physical business was exhausting: rent, labor, renovations, inventory—everything cost money. He’d work himself to the bone all year, only to realize in the end that he’d basically been working for someone else.
Later, he decided to put 3,000U into crypto and give it a try.
He smiled and said to me, “Gongming, losing money in business takes a lot out of you. At least here, if I lose money, I don’t have to sit in a shop all day. If I can make a little and pay off what I owe, I’ll be content for the rest of my life.”
But the market showed him no mercy.
His first trade was a long, and the market turned as soon as he entered. He reversed into a short on his second trade, only for the price to suddenly surge. After several trades like that, his 3,000U was down to just 1,000U.
I was about to comfort him, but to my surprise, he laughed instead. “It’s fine. Everyone has a run of bad luck now and then. I can always start over.”
I told him, “Don’t rush to win it back, and don’t blame your losses on bad luck. First, understand why you entered and exited each trade. The smaller your capital, the less you can afford to rush into proving yourself.”
From then on, he began changing his trading habits. He stopped chasing every rally and jumping in whenever prices fell, and he stopped thinking he had to make his money back immediately after a loss.
His account slowly recovered from 1,000U to 1,500U, then 2,300U, and only later began to grow steadily.
More than a year later, Lao Chen told me he had finally paid off the debt that had weighed on him for years, and he could look forward to life again.
The truth is, Gongming wasn’t born a trading expert. I’ve also been through times when the market barely moved, when I kept getting stopped out, and even when the market hit me so hard I began to doubt myself. Over the years in crypto, I’ve had the highs of catching major moves and the lows that nobody else saw.
That’s why I’ve come to believe more and more that what determines how far someone can go isn’t how much they make on a single trade, but whether they can stick to their rules after taking a loss.
Markets rise and fall. I hope what you learn from me isn’t just how to make money, but also how to make fewer mistakes and last longer in this market.
There will always be opportunities in the market. What’s rare are the people who can wait for them.