Recently, OKX Exchange Brand Manager Mia interviewed KOL Aoying Capital in a new episode of Dialogue with Traders . He shared his story of going from being in debt to now having an annual income of more than $4,000, and achieving a profit of millions of dollars on a single currency many times.
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Aoying said that he was originally a network product manager. He came into contact with Web3 due to work in 2020 and started trading contracts in 2021. In the early stage, he invested a small amount of money (a monthly salary of more than 10,000 yuan, and took out 3,000 to 5,000 yuan for trading), but he lost more than he earned.
His path to learning trading was not that systematic. Like most viewers in front of the screen, he learned mainly by observing real traders, joining groups, and asking for advice on trading logic. He did not systematically learn technical indicators, but built up experience by "imitation, asking, actual combat, and paying tuition fees."
Trading is not an indicator game, it is a cognitive game
Aoying believes that trading is not an indicator game, but a "cognitive game" and a question of psychological maturity. He was lucky enough to successfully catch the three waves of the 2024 market: AI coin, meme coin, and the "second spring" of inscriptions. But before that, his asset size was always stuck at the threshold of hundreds of thousands. It was not until he caught the trend, paid off his debts and had a surplus that his trading journey gradually became smooth.
As for how to adjust the mentality during the debt stage so as not to affect the operation? Aoying said from the perspective of a person who has experienced it that everyone relies on perseverance. The vast majority of large losses are due to unwillingness to stop losses. When in debt, trading has already been distorted.
If you don't execute your trades properly and rationally execute stop-profit and stop-loss, the loss is not painful enough. When he loses so much that he really has nothing left, he starts to treat every trade very carefully and executes every order honestly.
Eagle: Don't be too superstitious about trading indicators
He now prefers event trading. Before placing an order, he does not just look at the K-line. First, he thinks clearly about the current market situation, and then how to make intraday swings in this market, and judges whether the current market is high or low. If the market is event-driven, he judges whether this event-driven is sustainable. If it is not sustainable, he will open a short position at a critical position.
He has also studied trading indicators: double moving average system, EMA moving average, naked K, Fibonacci, wave theory, Dow theory, and various turtle rules, etc. He has studied almost all of them. But now, except for naked K, moving average, and trading volume, other indicators are no longer used. He believes that the real way to make big money is to rely on your own cognition. Indicators can only make your points open a little better, but it cannot determine whether you can make big money in the end.
He pointed out that the data of backtesting various indicators may have a winning rate of more than 55% in specific market conditions, but far less than 55% or even lower in non-specific market conditions. For example, now that Bitcoin is in a volatile market, the Bollinger Bands may still work, but it is completely useless in a trending market. So, don't be too superstitious about indicators.
What really makes funds accumulate is logic, strategy and execution
In the small capital stage, many people will be entangled in whether to take a gamble or play it safe. Aoying believes that this does not need to be too entangled. What is more important is to develop a set of trading habits and styles that suit you. If this habit is right, it can be sustained for a long time, and it is your own trading logic. He recommends that the actual leverage should not exceed five times. The lower the multiple, the more you earn. The lower the multiple, the more you dare to hold and the more stable you will be. Dare to stop loss when you lose, and dare to hold when you make money, thus forming a positive cycle. Slowly, the leverage becomes smaller and smaller, and the profit becomes more and more.
He believes that what really makes the money roll is logic, strategy and execution, not how high the leverage is. The leverage is getting smaller, but the money is compounding. In the end, what really makes the difference is cognition, not the leverage multiple.
Eagle: Never bearish on Bitcoin, it is a long-term advantageous asset
Ao Ying is never bearish on Bitcoin. He will choose to short under certain structures, but since MicroStrategy started to buy Bitcoin continuously, many American institutions have net inflows to buy Bitcoin every day, which has determined that Bitcoin will not see that kind of super-slump again. He pointed out that in the past bull-bear transitions, whether it was a large-cycle bull-bear or a phased correction, the amplitude was basically above 25%. In this round of market, it has fallen from $110,000 to more than $70,000, just reaching the lowest retracement line of the past "bull-bear transition".
He personally believes that Bitcoin may continue to rise in the future, but it will not be a one-sided market with a sudden surge. He believes that if Bitcoin does not have a deep correction, it may rise slowly in the form of fluctuations. It is definitely impossible to hold it in the short term.
If you want to make a long-term investment, you have to keep giving yourself chicken soup and constantly remind yourself: governments and institutions are buying. Even if it falls, you have to bite the bullet and increase your position and be willing to continue buying. Aoying believes that Bitcoin will be a long-term advantageous asset. As long as Trump is still in office, Bitcoin is unlikely to experience a particularly large deep bear market.
This is also true from a policy perspective. After all, this is one of the directions that the Trump administration is pushing. Aoying believes that this is destined to be a long-term positive. He is not sure whether it will be a deep bear market later, but there will still be a correction of more than 25%, but this is an opportunity to increase positions.
How can small funds turn around? Aoying suggests not to be obsessed with the trading market
For retail investors with small funds who want to turn things around, Aoying believes that if you have the ability to read the project and understand the encryption logic, he recommends that you do not gamble on fluctuations in the secondary market, but directly participate in the project construction. In other words, don't always think about making money by relying on currency price fluctuations. A combination of a novice and small funds can first test your trading ability; but if you really want to expand your position, you still have to wait until your funds become more, your cognition becomes more mature, and you have a more thorough understanding of things like Bitcoin and Ethereum, and have a concept of the market cycle, before considering increasing the scale of operations.
- It is really important not to trade with debt.
- Small funds are recommended to participate more in the primary market and the construction of the project itself, especially those native blockchain projects;
- Through these methods, you can first accumulate a certain amount of capital and knowledge, and then consider "swing trading" in the futures market.
When you have the knowledge, you will naturally reduce the leverage and stop doing those aggressive operations of 10x or 20x. You will also know how to control the nominal value and risk. In this way, even if you lose money, it will not be too big, and the money you earn is also within your knowledge.
Whether you can make money from contract trading has nothing to do with what courses you take
Aoying said that the money earned in the futures market has little to do with what courses you take or what path you take. Many traders he knows are from the grassroots. These people may not have any cognitive system or strong learning ability, but they must have some outstanding shining points, such as persistence, courage, and good market sense. They may not have learned much, but they have their own way of trading. For example, they are particularly good at catching a certain market trend, and they can control their hands and stick to that period at other times.
Therefore, many people lose money, not necessarily because they took the wrong learning path. In a high-volatility, high-magnification market like futures, everyone has to pay tuition. But the key is whether you grow after these losses. If you can learn from the losses, then you don’t lose money. But if you only have the feeling of "forget it, I’m not suitable for this market" after losing money, then it is recommended that you choose to leave, or even never come back.
You don’t have to rely on trading to make money in this market. You can also do arbitrage, low-risk, positive-expectation-value activities. Some of his friends are more talented in trading than him, but they can’t keep their wealth. It’s not that their skills are not good, but that there is a problem with their fund management. He thinks the most terrible thing about trading is that it will magnify all your strengths and weaknesses. If your weaknesses are fatal, such as being too aggressive or unable to control your hands, then these weaknesses will directly ruin you, and human weaknesses are magnified to a fatal degree by the market.
What kind of personality makes it easier to make a lot of money?
Aoying believes that in terms of comprehensive qualities, one must have both risk control capabilities and the ability to perceive the market. Especially when the most suitable market appears, you must dare to bet. Many powerful subjective traders are one-wave traders: they dare to bet or go up in a round of market, and they can make 10 million, 20 million, or 30 million in one wave.
Take himself as an example. He would also worry about not being able to catch the next round and that he would continue to lose money. But great traders have one thing in common: "fast is fast." In the market that you can grasp the most, you must be decisive and not hesitate. It is not decisive to open a leverage of 20 times or 50 times, but to respect your own judgment, trust your own judgment, and then dare to execute. In this round of market, he caught the most core band in a short period of ten days. Ethereum rose for four consecutive days, and including the follow-up, in a total of ten days, the position doubled by 20 to 30 times.
This is what he said: "Fast is fast, slow is slow." If you hesitate when the market comes, you will lose it. You must dare to take out the money you can afford to lose, dare to try and take risks. If you succeed, you will be the one sitting here to share. If you fail, then just sit down and listen. He thinks that the most suitable personality for trading is: dare to judge, dare to act, and integrate knowledge and action. This is the most core quality.
Risk Warning
Cryptocurrency investment carries a high degree of risk. Its price may fluctuate drastically and you may lose all your capital. Please assess the risk carefully.
As trade talks gathered pace ahead of the July 9 deadline and the Senate continued negotiations on the Big, American Act, the S&P 500 closed at a record high on Friday (6/27) and the Nasdaq also hit a record high. Cryptocurrencies rose across the board, with Bitcoin returning to 108K and Ethereum above $2,500.
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ToggleTariff agreement accelerates
Trump announced in April that he would suspend tariffs on dozens of trading partners for three months, which stimulated the Asian market that was hit hardest by tariffs, but with the July 9 deadline approaching, Finance Minister Bessant hinted that some agreements might be extended.
The Indian trade team has extended its stay in Washington to resolve differences, people familiar with the matter said, and both sides hope to reach an agreement before the July 9 deadline. European Commission President Ursula von der Leyen told EU leaders in a closed-door meeting that she was confident a deal could be reached before the deadline. In addition, China also confirmed the details of the trade framework agreement reached with Washington.
Big, Beautiful Act vote continues until Monday
Negotiations over President Trump's Big, American tax cut bill continue as Republicans try to convince opponents to support it, with votes expected to continue into Monday. The measure is expected to add nearly $3.3 trillion to the U.S. deficit over the next decade.
Consumer confidence rebounded, inflation slightly higher than expected
On the economic front, consumer confidence rose sharply to a four-month high and inflation expectations improved significantly. Data also showed that although the core personal consumption expenditure price index rose slightly more than expected, its increase was consistent with limited price pressures, which will enable the Federal Reserve to start cutting interest rates later this year.
U.S. Treasury gains were hampered by economic data on Friday that showed stronger-than-expected inflation. Money markets continue to price in at least two rate cuts from the Federal Reserve by the end of the year, and bets on a third cut could grow if Thursday's jobs report is weak.
Bitcoin returns to 108K, Ethereum reaches $2,500
Cryptocurrencies generally rose, with Bitcoin returning to 108K and Ethereum standing above $2,500.
Ripple gave up its cross-appeal against the SEC, accepted a $125 million fine and a permanent ban that will remain in effect. Ripple Labs CEO Brad Garlinghouse announced on social media that Ripple will put an end to this and focus on the most important things and move into a new chapter. XRP's legal status as a non-security remains unchanged, and XRP rose by more than 10% in 7 days.
Solana also returned to $150 due to the possible launch of a spot-collateralized ETF, with a 7-day increase of 16%.
Risk Warning
Cryptocurrency investment carries a high degree of risk. Its price may fluctuate drastically and you may lose all your capital. Please assess the risk carefully.
