A conversation with Feng Wuxiang: The secret of making tens of millions a month in LuMao and MEME

Starting from rubbing coins, and then to the MEME track, he has won multiple single projects and made profits of over 10 million.

Fengshen said that if you want to succeed, you must continue to work hard on positive EV things.

The most knowledgeable trader in rubbing coins, the most knowledgeable all-round player in trading, @0x0xfeng tells you how to rubbing coins while trading?

This is a series of dialogues with friends of #OKX, the interviewer is @mia_okx, welcome to follow~

How to make the first 10 million ?  

I used to work as a VP of marketing operations in an e-commerce company. By chance in 2021, I came into contact with the "new issuance" business in the field of cryptocurrency. Then I resolutely quit my job at the e-commerce company and focused on the new issuance of cryptocurrency. At that time, the popularity of Bitcoin and blockchain was gradually heating up. I reviewed past projects, calculated costs and benefits, and found that the profits were considerable. I thought this was an opportunity not to be missed.

The first 10 million was earned through Coinlist's new issuance. The new issuance studio was not big. At first, I just put a table in the living room and invited two college students to work, and then I started like this. The initial investment included two computers, with a total investment of more than 10,000; hired two fresh college students, with a monthly salary of about 4,000/person, etc. Through these investments, each account can be issued 500 dollars, and a single project can be invested in 10,000-20,000 U.

Although the winning rate of new issuance was only 3%-5% at that time, few of these IDO projects lost money. MX initially played more than 25,000 dollars, earned 700,000 or 800,000 dollars, and then bought People to reach 10 million. After experiencing the explosion of Luna and FTX, there was a retracement of more than two years before returning to the peak of that year.

How to smoothly transition from the airdrop track to theMEME track

In fact, many people who play with money do not speculate on coins. There may be 100 CAs in the group of P Xiaojiang a day, and 999 if they don’t check the news for a while, while there may be only dozens of sentences a day in the group of playing with money, and most of the time they are busy working on projects, so these are two different types of people. And I was able to quickly switch from playing with money to MEME because there were friends around me who were playing, and I also liked playing MEME. Personally, I feel that playing MEME requires positive feedback, otherwise you will fall into anxiety and self-involution, and it will not last too long. MEME has an impossible triangle-capacity, multiples and certainty.

1. Capacity means that you can get a large position on the train

2. Multiples means that you can get several times or even dozens of times the return

3. Certainty, as the name implies, means that you can definitely make money

But currently this kind of MEMEE is only seen on $TRUMP. It has both capacity (the official added a pool of tens of millions of dollars), multiples (from the beginning, a large position can get several times or even dozens of times), and certainty (MEME issued by Trump himself)

MEMEThe Road to Gold

I prefer to play the second stage or the currency with a larger capacity. P Xiaojiang basically sleeps for 6-8 hours, and the rest of the time is all on the chain, and basically needs to adjust to the time difference. This is very harmful to the body, I can't bear it. Secondly, the hundred-fold returns we see all require very early entry, and it is very difficult to get into the inner market. Those fast-passing dealers usually fill up their inner plates by themselves, and retail investors rarely have the opportunity to get in, so I personally play more in the second stage. Generally, for a plate of tens of millions or hundreds of millions, as long as you can understand the narrative and roughly judge the market valuation, it is easy to get 50% or double it. It is very difficult to double the currency of the exchange, but it is relatively easy to double or several times in the MEME market compared to the exchange.

At first, $BOME and $SLERF made me earn more, and then Japanese cats also made a lot. $SLERF is 1.2 million dollars per hour, and Japanese cats are about 1 million dollars a night. At present, these two make more money. In the second stage, $ChillGuy also made a lot. At that time, $CHILLGUY took a large position to buy the bottom, and sold it after a big rebound. $TRUMP bought 600,000 dollars at an average price of 14 dollars. Then $MELANIA bought less than 2 million, but ran away after making hundreds of thousands of dollars.

How to judgeMEMEnarrative?

It depends on the popularity of the IP and the operational capabilities of the project. For an emotional market like this, if you feel that the popularity has reached its peak, you need to sell it. There is a saying that goes, "Sell when the crowd is bustling." This is the reason. For example, although GOAT was at 600-700m when the crowd was bustling, it was actually okay to sell it at that time. Although it was not sold at the highest price, as long as it was a reasonable price in your cognition or psychology, it would be fine.

In the final analysis, you still need to review the market more, train your understanding and market sense, and accumulate experience. For example, if you have experienced a coin from its beginning to its climax, and then from its climax to zero, then you have probably experienced the life of this token. For example, $TRUMP, many people invested hundreds of thousands of dollars or one million dollars. $SLERF and $BOME are similar, and their biggest feature is fairness. This is also in line with the previously mentioned MEME impossible triangle theory, with capacity, multiples and certainty all gathered.

For $CHILLGUY, the market was hot and emotional at the time, and every time it went deep, there was a strong bottom-fishing force. At the same time, observing the trading volume and the number of addresses holding $CHILLGUY, I think it should be a contract that can be listed on the big exchanges, which means that it still has a strong expectation of rising. It is also very simple to judge the turnover rate. If the turnover rate exceeds 1%-5%, the turnover is already very sufficient. The most significant phenomenon is that the trading volume remains high, but the market value has not changed much.

The number of addresses holding $CHILLGUY is more than 100,000, while the number of addresses holding $TRUMP is more than 700,000. Generally, most MEME addresses holding coins are about 40,000 to 50,000. It is obvious that CHILLGUY has a lot of traffic, and the transaction volume on the chain has been on the top for several days in a row. In addition, it is a very novel concept in the TIKTOK track, so I will choose to get on board. My biggest feeling is that MEME is very different from traditional VC coins. Due to its novelty, especially as a leader in a track, we cannot accurately value it, unlike the traditional Layer2 public chain, which can be roughly valued by TVL, user volume and ecology. Including $ORDI, it was also difficult to value at the beginning. It is difficult to judge the valuation of a new thing in a track.

How to control stop-profit, stop-loss and position management?

1. Don't be too optimistic and avoid self-brainwashing

• Traders are often overly optimistic about the projects they choose and ignore their potential risks. Learn to analyze projects from a calm and objective standpoint to avoid self-brainwashing and self-entertainment. For example, when a project rises due to a wave of popularity and then falls, we should rationally judge whether it can rise again, rather than blindly believe that it will repeat the previous trend.

2. Stop loss in time, don't hold on

• Many people will hold on to loss-making projects because they are unwilling to give up, always thinking about getting back their capital, but this often misses the best time to stop loss, resulting in further losses. We must learn to judge whether a project still has potential. If we think the project can't take off, we must stop loss decisively to avoid getting deeper and deeper. As Feng Wuxiang said, in the long run, only good cards are worth investing in, and bad cards should be abandoned in time.

3. Allocate positions reasonably to avoid over-concentration

• Don't concentrate all funds on a few projects, allocate positions reasonably to reduce risks. The tolerance rate can be increased by diversifying transactions. Even if some projects lose money, it will not cause a devastating blow to the overall assets. For example, I once mentioned that even if 5 out of 10 projects are cut in half, the overall assets can still be guaranteed to be safe through reasonable position management.

4. Use profits to roll investments and keep the principal safe

• You should learn to roll transactions with profits instead of constantly adding principal. This can increase investment returns while ensuring the safety of the principal. When profits are obtained, part of the profits can be used for re-trading, but the principal must not be lost. In this way, assets can be increased steadily over the long term.

5. Pay attention to project narratives and market sentiment

• Project narratives and market sentiment are crucial to trading decisions. You must learn to judge whether the project narrative is attractive and whether market sentiment is high. When market sentiment reaches a climax, it is often a good time to stop profit; and when market sentiment is low, it may be an opportunity for layout. For example, when the whole world is calling for a certain project, it is most likely the time to sell.

6. Choose projects with high certainty

• During the transaction process, try to choose projects with high certainty. For those projects with clear application scenarios, strong team backgrounds and good market prospects, more attention and transactions can be given. At the same time, avoid investing in projects with high uncertainty to reduce transaction risks.

How to play MEME while playing JUP and digging for gold in two tracks?

Because JUP is a very positive thing, for example, when playing MEME, you often get used to using JUP because you know that JUP will have airdrops in the future.

I actually don't use BOT, I only play the second stage. In most cases, for example, after we buy BOT, it rises to a certain level and stabilizes. When I want to sell, I also use JUP to sell, which not only increases the trading volume of JUP, but also reduces the fee of BOT by 1%. So I got 50,000 dollars from the airdrop, and gave less to the Trading BOT, which is about 50,000 dollars. Add up to 100,000 dollars, and the wear and tear of playing MEME is back. In fact, if you calculate it this way, it is not a small amount of money.

It's the same with Metaora. Many people thought that Metaora was also a relatively large one before. When I sell coins, I am used to adding a one-sided pool in Metaora, collecting the handling fee, and then exiting. I know that Metaora's airdrop will also be very valuable. For example, if I have 50,000 coins now, I add them to the pool, and sell them for 70,000 or 80,000 dollars at a certain price. The handling fee is 5,000-10,000 dollars, and the handling fee will be fed back to me in the future. In short, I play MEME while doing some very positive things, such as deliberately using more project tools with airdrops.

@mia_okx Written at the end:

Fengshen is a very straightforward and sincere person. Many times in the chat, I tried to let him summarize some methodologies with such a high winning rate for everyone, but there was no high-sounding summary. He just said lightly that you will feel it after playing more.

He said that the successful people in the industry he knew who started from the bottom all worked 16 hours a day, 6 days a week, devoted themselves wholeheartedly, and persisted for one or two years or even longer to succeed. Do positive things, calculate the expected return, and then all that is left is sitting and persisting, which once again makes the words "focus" and "hardworking" more concrete in Mia's mind.

This time, Fengshen also shared the method of continuous profitability without reservation. Multi-dimensional strategy is the key, combining the dual tracks of Luma and MEME, making good use of the advantages of each platform, and focusing on long-term returns. And risk control is equally important, stop loss in time, allocate funds reasonably, and avoid chasing high and killing low. In terms of mentality, he suggested staying objective and calm, not pursuing perfection, and accepting the laws of the market. Long-term development requires continuous learning, patience, and stability. I hope everyone will gain something.

Finally, thank @0x0xfeng for sharing, and welcome everyone to continue to pay attention to the "Friends of OKX" dialogue series.

Disclaimer:

This article is for reference only. This article only represents the author's views, not the position of OKX. This article is not intended to provide (i) investment advice or investment recommendations; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of such information. Holding digital assets (including stablecoins and NFTs) involves high risks and may fluctuate significantly. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. Please consult your legal/tax/investment professional for your specific situation. You are solely responsible for understanding and complying with relevant applicable local laws and regulations.