Hello Du Ge, I officially started trading in the crypto space on September 15. I had some basic experience with fund and stock trading before, but it was very shallow. By luck, I grew 20u to 160u. However, around 1 PM today, I saw that Mars coin mar on X, and I went long on a 20× contract. The total amount at that time was 185u, with an unrealized loss of about 24u. At the same time, I also went long on mubarak, which had an unrealized profit of several tens of u, but I didn’t take profits in time. As a result, both of these positions dropped a lot this afternoon and were forcibly liquidated, bringing me back to 20u. I feel a bit lost and empty inside. Could you please give me some advice? Sorry to bother you. -- Spend one year focusing solely on BTC, knowing all its candlestick charts inside and out, ideally memorizing them. Spend 8 hours a day studying candlesticks and position management, repeatedly opening small trades and constantly verifying what you’ve learned, reviewing your trades countless times. Combining this with AI will speed up mastering a single asset thoroughly. After that, you can use what you learned for the rest of your life and expand it to other assets. After this year, BTC will become your cash machine, and trading will be your cash machine. More importantly, you will understand yourself better and find your niche in the industry’s ecosystem. Trading is one of the best training grounds; here you can see the world, see people, and most importantly, see yourself. If you enter the space just to chase quick opportunities, grabbing this and that, five years, or even eight to ten years later, you will find you have achieved nothing. You will be little different from when you first entered, only having lost more money and not found the reasons, blaming everything on manipulative whales.

Established and open-source, it's reliable. Cold wallets (hardware wallets) carry almost only personal risk, while exchange risks are nearly global. Hackers worldwide target the funds on exchanges, and with AI support, exchanges manage vast hot and cold wallet systems, extensive products, and user bases, which have many vulnerabilities. This is a long-term battle of offense and defense. Funds stored in cold wallets can at least ensure survival in the worst-case scenario. Ideally, you avoid suffering major setbacks or returning to square one due to force majeure or black swan risks. This portion of funds does not seek high returns; safety comes first, and once deposited, it should be moved as little as possible. The primary role of exchanges is trading, matching orders, and providing liquidity, not custody. My principle is to build positions at the bottom and immediately transfer to cold wallets, only moving funds when selling at high points. After selling, I immediately transfer the USDT back to cold wallets and diversify profits into cash, stocks, gold, etc. Besides keeping some cash myself, it's best to transfer more funds to a few trustworthy relatives as a fallback. In case of operational mistakes, relatives, especially parents, can safeguard the funds (assuming they are reliable and not susceptible to scams). In the previous cycle, my biggest concern was exchanges suddenly halting withdrawals or collapsing, so I bought and sold in batches, never exceeding $100,000 per transaction, executing market orders and withdrawing immediately. When I cleared my Ethereum at the top, I didn't even want the coins to leave my wallet; I directly swapped them for USDT within the wallet's aggregated DEX. I was willing to accept higher slippage for safety, considering it a worthwhile cost. At least half of my Ethereum position never left the hardware wallet.