# The Little Prince's Inner Monologue

Today marks the seventh day since my subscription channel was established. Many people probably don't know much about me yet, so I'd like to take up a bit of your time and simply share my story.

Time flies so fast. In the blink of an eye, it's been almost five years since I first got involved in crypto. In May 2022, I scrolled across a news item on a certain platform saying Luna coin crashed from $120 all the way down to $1. Someone who shorted at $120 made over 7 million yuan in just one day from a few thousand yuan. At that moment, I felt that the crypto space was truly a place where wealth miracles could be created.

I started searching on a certain platform for how to download exchanges domestically and how to buy Luna coins. Back then I was so naive. I thought since it had dropped from $120 to $1, if I bought 10,000 yuan worth of Luna and just held it, maybe one day it would bounce back, and I'd make a fortune. Of course, everyone knows how that story ended—turns out crypto coins can drop to countless decimal places.

Later, I saw someone commenting on a certain platform saying "I'm making it," so I private messaged asking how to download an exchange. He told me to add him on a certain social platform, and under his guidance, I downloaded a certain app and bought spot positions. I asked him how much to buy, and he said he doesn't do spot trading—he mainly does futures because it's faster to make money. He even showed me screenshots of his Ethereum futures profits. I was tempted.

He taught me how to verify my identity, how to buy USDT, and had me enter his referral code. I had absolutely no concept of what I was doing at the time, and he just said "trust me, I'm a professional." When volatility was small, he said to wait until US stock market opens in the evening, then we'd video call and he'd tell me whether to short or go long, and I'd follow his instructions. To be honest, I didn't even know how to place an order or what "long" and "short" meant.

I remember the first trade he had me do was Bitcoin. He told me to short with 100x leverage. I had no concept of position management whatsoever, just watched my money slowly disappear. He told me to add to my position, so I kept buying. I saw he was still losing, so I kept following. Suddenly an email notification popped up: "Liquidation risk triggered." I didn't even know what "liquidation" meant. That's how my first lesson fee in futures trading—10,000 yuan—turned to dust in just half an hour.

The person leading my trades was named "Mu Ge" if I remember correctly. Later I followed him for two more months, with some wins and some losses, ending up down about 100,000 yuan overall. Then I deposited another 200,000 yuan, but after just one week, a certain exchange went bankrupt. I couldn't withdraw even a single USDT.

So my crypto experience was truly tragic. I went through some depression for a few days back then. I thought if I had simply lost money doing futures myself, I could have handled it better. But the exchange went bankrupt before I had even done very many trades.

This is exactly why I keep emphasizing on my channel that you should use mainstream platforms and avoid shady ones. Because I learned this lesson the hard way. You need to know that the crypto space is still a mixed bag and pretty chaotic even now. All the pits you're stepping into, I've already stepped into.

Back then there was no community plaza. Through certain social platforms and certain forums, I got pulled into all sorts of group chats where everyone was a "teacher" claiming they could help you get rich. But now many people know how to read indicators and candlestick charts. Back then I thought this was just high-risk speculation—no different from gambling in Macau. So I wouldn't look at charts myself. I didn't even know what candlesticks were. I just listened to the traders report entry points on certain social platforms, telling me whether to go long or short.

Back then they never taught you how to read charts or indicators. Now the young traders in crypto have it so much better—they can see genuinely useful shared knowledge in exchange plazas. But I had such closed-off information back then. I had no access to this stuff and didn't even understand the concept of stop-loss. Back then on exchanges, if you set a stop-loss, it had to be at a loss—you couldn't set a profit take. So I was like a hawk being trained, literally afraid to sleep. Because you had a position, and if it was up 200% or 300%, you'd think there was more upside and didn't want to close it. But what if it crashed while you were sleeping? So sometimes I got very little sleep.

But it's different now. We can sleep easily with trailing take-profits and partial profit-taking. Modern exchange software has evolved so much compared to back then.

Continuing my story: After that exchange went bankrupt, I was angry and went looking for "Mu Ge," asking him how he brought me to such a platform. We eventually just let it go. I stopped contacting him and deleted him from my social platform.

Then I joined various so-called "teacher" group chats and followed their trades. Later I met someone named "Lio." He asked me how long I'd been trading and how much I'd lost. I told him about the exchange bankruptcy, that I'd lost 100,000 yuan, deposited another 200,000 that I couldn't withdraw, so probably 300,000 total. He said, "No worries bro, trust me. Download a certain exchange right now. Use my referral code and I'll help you make back that 300,000 in a month. Just download the exchange and deposit 3,000 USDT."

So I did. In hindsight, this was also a shady exchange. I didn't even know that referral codes had rebates. I didn't get a single rebate back—they must have kept it all.

I had 3,000 USDT in total positions at the time. He had me put 2,500 USDT into a single trade, telling me the exact points to go long Ethereum. I can't remember the exact points, but I remember that if Ethereum dropped just 10 points, I'd get liquidated. Maybe he had good luck and I had good luck too—that day it only dropped 3 points before it started rising. In one day it went up over 80 points using 100x leverage. My 3,000 USDT capital instantly became over 13,000 USDT.

Then he told me to add to my position. I made another 50-60 points. In three days, my 3,000 USDT became over 28,900 USDT. In that moment, I felt the crypto space really could create miracles. I worshipped him in all sorts of ways, reaching an obsessive level of trust.

On the fourth day, he had me open another position, told me to trade 15,000 USDT. That 15,000 made 5,000-6,000 in profit and I took it. I thought in just three or four days I'd made back almost all 300,000 yuan I'd lost in crypto. I wanted to withdraw the USDT to my wallet and play more slowly. But under his relentless persuasion, he convinced me to transfer all my USDT back to the certain exchange to continue following him.

By now you probably can guess the ending. Later, whatever amount he told me to trade, I did it. I felt like he was right every time, like a god. This trading style was basically all-in yolo betting—10 or 15 points would cause liquidation. But every time he told me to enter, my floating loss was only 4-5 points, never getting liquidated. So I thought this guy was incredible, literally a god.

But as the saying goes, if you're always by the river, eventually you will get wet. The inevitable ending everyone can imagine came—it all vanished. In the end, all the profits I'd made got given back, I got liquidated countless times, and when I tried to recover my capital, I just lost more and more. After six months of grinding, totaling up my account: all the supposed profits were given back, and my capital was down 560,000 yuan.

Fortunately, I have my own brick-and-mortar business with franchises and direct stores nationwide, over 100 locations, with decent scale and assets exceeding 100 million yuan. I was once selected for China's Forbes 30 Under 30 list and was a member of the Hurun 30 Under 30 Entrepreneurship Leaders. So my crypto investments felt like speculation to me. I didn't think much of it. Later I didn't play much, focusing on my business instead, occasionally trading on my own without listening to anyone, just self-learning.

But then the pandemic came. With over 100 stores, most had two months of rent waived, but the pandemic's impact lasted 36 months while we were only open for 19 months. Our industry requires paying salaries, contributions to five social insurances, and rent, but revenue was nearly zero. My wealth went to zero in just a few years and I took on over 20 million yuan in debt, suffering a major blow in life.

In July 2025, my business completely collapsed and couldn't continue. I couldn't accept this blow. As the saying goes, "it's easy to go from simple to luxury, but hard to go from luxury to simplicity." On July 8, 2025, I chose to end my life—I jumped into a lake. This choice was really the result of a person reaching total mental collapse. But I didn't die. Probably very few people have had my experience: at that moment when I chose to give up on life, human instinct for survival kicks in, and you feel extreme regret and struggle desperately. In the end, I was rescued.

They say those who survive great disasters will have good fortune thereafter. After adjusting for about four or five months, I decided to return to crypto. This might be a new starting point for me to make a comeback.

I mentioned Forbes, Hurun, business scale, stock accounts earlier—I occasionally open my phone's photos and screenshots to recall these ten years of ups and downs. I'm bringing these up not to show off. All of it is ultimately a fleeting dream, now turned to zero. People always reminisce about past glory when down and out. I hope you can understand me, but I also hope I won't need to recall these things in the future, because I believe I can create glory again and make a comeback.

This article will include screenshots of some of the things I've mentioned, with mosaic applied. I hope you won't dox me. All glory I once had is now gone. My financial losses didn't come from crypto or stock account losses, but from my business which I ran for 10 years smoothly, like my own child, something I couldn't bear to let go. Under the pandemic, policy shifts, and economic downturn, I was still using my own capital to fill massive business deficits, which led to today's outcome.

Using an appropriate analogy: isn't this just like doing futures contracts? We bought Ethereum with 500, it went to 1,000, 1,500, then we kept using all profits to increase investment, rolling and pyramiding with floating gains. Suddenly a black swan event—Ethereum crashes from 5,000, while my cost is 4,000. I still believe it will go to 10,000, so I hold through the losses. Suddenly liquidation warning. I deposit more USDT to hold the line, until I've put all my savings into this single position without considering the consequences. The more I lose, the less I want to cut losses. So I get bank loans, borrow from relatives and friends, trying to keep the liquidation price in a so-called "safe" zone. But fate doesn't listen. When you're helpless, that message arrives in your inbox: "Your position has been forcibly liquidated." Only then do I wake up! I'm just using my brick-and-mortar business collapse as a crypto-language analogy to illustrate a point—that's exactly what happened.

So at this very moment, I'm someone making a fresh start. I'll use my five years of crypto experience to help you avoid pitfalls, translating all sorts of technical indicators into language that beginners can understand for trading. At the same time, I'll tell you this market isn't that simple. It requires not just technical analysis, but also understanding news and sentiment factors.

I'm different from others. People who know me know that the first priority I talk about with everyone is not getting rich quick, but position management and risk control. I look at win-loss ratios before looking at win rates. You must set proper structural stops and control single-position risk at 2-3% of your total account.

I understand beginner psychology because I've walked this path step by step, experiencing countless liquidations. I also know human nature—we hate losses and are averse to losses, which is why we can never bring ourselves to cut our losses. We always think losses don't count as losses and we can earn it back. We think as long as we hold, we'll break even.

Many veteran crypto traders have experienced single-directional markets with hundreds of points. When extreme moves happen without stop-losses set, all your capital will be liquidated to zero. I hope you won't have survivor's bias where you hold through a few trades and then recover and make money, then adopt that as your trading habit. You will eventually get liquidated again, whether your account is 500 USDT, 50,000 USDT, or 500,000 USDT. The outcome is the same—it's just a matter of time.

So that's all I'll share today. I'll gradually update about the pits I've stepped into in crypto, my growth journey, experiences, and insights. I hope you'll keep following the Little Prince.