The market trend keeps changing, and people are keen to chase the next round of wealth opportunities.
The blockchain industry has never stopped innovating, Crypto and AI crazes are superimposed, NFT, Memecoin, RWA...
New hot spots and new legends emerge in an endless stream. Some people have experienced assets that have increased by A8 overnight but have almost returned to zero, and more people have fallen into the dilemma of chasing ups and downs.
Nine-year senior OG Bit Wu @BTW0205 tells us from personal experience:After the prosperity, what can really stand invincible is patience and deep thinking.
He joked that he was an "ancient KOL" and started creating crypto content in 2016. At this stage, his life was going through a trough, and his second venture was almost a failure.
The gears of fate turned quietly at this moment - for an outsourcing of mining software development, he actually received 40 bitcoins as a reward. Overnight, his journey in the crypto world began.
This is the "Friends of OKX" series of dialogue interviews. This series aims to provide reference for novice users by exploring the work stories, industry thinking and lessons of KOLs from different backgrounds.
This issue's interviewer is Mercy @Mercy_okx, welcome everyone to follow (*´∀`)~
ICOFrenzy: Overnight Fame
In 2017, the initial token issuance trend swept the world. Various tokens emerged like mushrooms after rain, and the prices went out of the crazy market.
Bit Wu recalled that at that time, the price increase of Shanzhai tokens far exceeded that of Bitcoin and Ethereum, and tens of thousands of principals easily turned into tens of millions.
According to him, the account value had reached the "billion" level at the peak of the bull market.
During that time, he saw millions more funds in his account every day, but he was already a little numb. "After reachingA8, there was no feeling of millions more in the account." The dream of capital made him forget himself for a while, as if success was easy.
But looking back, he found that when people around him were immersed in the carnival, the most important thing to do was to stay sober and be alert to the risks brought by the bubble.
The edge of zero: madness and anxiety
Sure enough, the bubble burst. In 2018, the bear market hit, ICO projects collapsed one after another, countless altcoins returned to zero, and his wealth evaporated overnight. Looking back on that year, Mr. Wu admitted that this round of plunge made him fall into a "loss loop" - the investment projects lost money, the altcoins lost money, Bitcoin and Ethereum also lost money, the more operations he made, the deeper the loss, and the more anxious his mentality became. He reviewed: "The more operations I made, the more mistakes I made, the more I lost, the more I gambled, the more I gambled, the more afraid I was... In the end, a complete loss loop was formed." The gap from the peak to the bottom caught him off guard. During that period, he tossed and turned and couldn't sleep all night. Only then did he realize that cognition must keep up with market changes, and "path dependence" must be avoided. Once the previous path to wealth fails, you need to find a new direction.
Reflection and Reconstruction: Finding the "Well Water"
After this heavy blow, Mr. Wu began to establish a systematic trading framework and a method for sustained profitability.
He believes that if you want to survive in the crypto industry for a long time, you must build an "anchor point" - just like having a self-flowing well that can continuously supply water even in droughts.
During this period, he found that he could still rely on the content and consultant channels he established in the early days to obtain stable income when the market fell.
This is equivalent to preparing a "well of information" for himself, which can still provide nutrients when the market dries up.
This channel smoothed the downward cycle for him and became a continuous "water source".
In addition, through continuous research and writing, you can continuously verify market hypotheses, deepen your understanding of various mechanisms, and prepare for the next opportunity.
Turbulence and Higher Vigilance
One wave has just subsided, and another wave has risen. An unexpected storm once again tested Mr. Wu’s understanding of the industry, and some of his assets were once again reduced.
This accident made him realize that there are two types of risks in trading crypto assets: one is the violent fluctuations of the market itself, and the other is policy and judicial risks. In order not to repeat the same mistakes, he made a more conservative choice - learning to distinguish what is a real core asset, and emphasizing that decentralized assets are what truly belong to “himself”.
He believes: "Only by holding Bitcoin can your assets truly belong to you and belong to you for a long time."
After that, his positions gradually tilted towards Bitcoin, basically abandoning all risky bets and sticking to this digital gold.
At the same time, he constantly reviewed his experience in content output and deepened his understanding - just like the "Feynman Learning Method" he advocates, writing itself is a method of in-depth learning. Countless reviews have made him better understand how to control his emotions and continuously optimize strategies.
Whenever there is a bear market, he would rather stick to it; when the next bull market comes, he will deploy funds in small batches. This "slow work and fine work" method gradually worked: time allowed him to accumulate more and more Bitcoins, and also made him more calm.
Nowadays, he rarely trades, usually only two or three times a cycle. For him, the real victory is to calmly see the wealth increase in ten or twenty years.
The truth of "slow is fast"
After experiencing two major asset drawdowns, Mr. Wu summed up his "four-character motto" - slow is fast
In his opinion, many people think that only by following up quickly can they seize opportunities, but in fact, industry opportunities emerge in an endless stream, and the most difficult thing is to survive and be fully prepared.
He explained that the "slow" here is not a passive wait, but a process of careful consideration and systematic construction.
Only by patiently polishing details and verifying assumptions can we strike decisively when opportunities come.
He said it was like watching a kitten at home catching a fish: "My cat may sometimes wait there for half an hour... Once he reaches in, he can catch the fish. I think slow is fast, and it is actually such a process."
Observe slowly, think slowly, and suddenly attack when you are fully prepared. Real success is not a fluke that is achieved overnight, but a one-shot victory supported by deep thinking and a tenacious mentality.
Mindset training: from anxiety to calmness
In fact, Mr. Wu believes that trading is a complex of deep thinking + rational decision-making + fast action, and mentality is the chassis.
In the last bull market, he suffered heavy losses due to frequent trading due to excessive anxiety -
"At that time, there were some changes in the body, it was easy to have trouble sleeping, and the mood was not good; after anxiety, I would want to operate... The result of anxiety was loss instead."
This experience has honed him like a Zen master in meditation, and market fluctuations can no longer easily affect his emotions.
As he said: "The last round of anxiety made me feel more painful, so I am not anxious this time."
With this calmness, he can observe the market calmly. Even if many people around him frequently trade and play the band game, he insists on putting 80% to 90% of his funds on mainstream currencies such as Bitcoin and Ethereum, and only uses a small amount of "ant warehouse" to participate and perceive hot spots.
Not everyone can control the rhythm of frequent trading. For Bit Wu, he is more suitable for seeing the form in each alternation of bull and bear and doing low-frequency trend trading.
Of course, he also suggested that every trader should find a "track" that suits him and not blindly follow the trading methods of others.
OKXFinancial Management and Diversified Allocation
At the level of strategic tools, Mr. Wu has always practiced the concept of "slow is fast".
First, he emphasized the importance of sound financial products: "Financial management can ensure that your assets can still grow well in a bear market, and the OKX coin earning product line does a good job. In other words, in a bear market or sideways market, using fixed income or dual-currency coin earning products to allow assets to grow is the key to keeping wealth."
About 80% of the funds in his portfolio are placed in mainstream assets such as Bitcoin and Ethereum, and the remaining 10%-20% are scattered in stablecoin coin earning and dual-currency strategies.
He most often uses "Yubibao" (simple coin earning) and Dual Currency Win on the OKX platform. For example, in the face of the recent surge in Bitcoin, he has set a single-coin-based dual-currency strategy: setting a Bitcoin selling target price (for example, 108,000), the annualized return can reach 20%.
In this way, once Bitcoin rises to the target price, he can earn a higher return; if the market goes down, he will convert the funds intoUSDTdual currencies to obtain income.
In short, through financial management tools, funds can be "activated on their own", earning considerable interest in a stable manner, and staying away from complicated rising and falling.
Not only limited to crypto assets, he is also making hedging arrangements across markets. For example, he recently bought some gold to combat the risk of fiat currency inflation; at the same time, he is also optimistic about the long-term opportunities of the US technology stock index.
He believes that the future technological wave (AI, biotechnology, etc.) is likely to be borne by the leading US stocks, "buying US stocks in the next ten or twenty years should be a very good choice".
Based on these judgments, he almost never touches futures contracts and high leverage in the exchange. He believes that "normal people cannot control more than one times the leverage".
In short, his overall strategy now is: patiently hoarding coins + earning stable income + moderate hedging.
Although this strategy is slow, it brings steady returns and allows him to always keep enough chips in the bear market to welcome the next wave of rise in the best posture.
Written at the end
In Mr. Wu, I seem to see the calmness and composure of "the boat has passed through thousands of mountains". From his experience, I feel that there is no shortcut on the road of trading, only steady progress.
In the ever-changing world of Web3, don't rush to follow the trend, and carefully build your own underlying framework, path and mentality. When the next opportunity comes, you will be able to seize it.
I wonder if you have similar ups and downs? What is your trading philosophy? Welcome to share your stories and insights in the comment area! High-quality content extracts the latest three sets of OKX peripherals~
If you also agree with the wisdom of "slow is fast", please like and forward this article, so that more people can see Mr. Wu's practice and thinking, and grow together~
Disclaimer
This article is for reference only. This article only represents the author's views and does not represent 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; (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of such information. Digital assets held (including stablecoins and NFTs) involve 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 professionals for your specific situation. Please be responsible for understanding and complying with local applicable laws and regulations.
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