Author: BITWU.ETH
2025 is over, and I wasn't really planning on writing a year-end summary.
It's not because I had nothing to write about this year; on the contrary, it's because this year was too real. So real that I'm not sure if writing these words down will seem a bit "anti-climactic."
But after thinking about it, I decided to write it down anyway.
If you've been in the market for a few years, experienced bull and bear markets, gotten carried away, regretted your decisions, and learned from your mistakes, you'll likely see a bit of yourself in the following text.
It was quite tiring for me to type all this out. If you patiently read it and find it helpful for some future decision, position, or emotional control, please remember to like and share it, or forward it to someone you care about.
In this market, things that are truly valuable should never be seen by only a few people.
1. My best move this year!
As the year draws to a close, I inevitably get asked by many people: What do you think was your best move this year? I've actually thought about this question carefully, and my best move this year was that I did absolutely nothing most of the time!
This isn't meant to be mysterious; it's absolutely true!
My first bull market:
Because of path dependence, the money earned was lost in a flash:
What does it mean to make money quickly? Starting with 30,000, I reached A9 in half a year; what does it mean to lose it all in a flash? One 94, and by October 4th, in just one month, I was back to 50,000.
You ask me what it's like to ride a roller coaster? I guess it's nothing special!
My second bull market:
Because of various rumors and his own inexplicable self-confidence, he started to make reckless investments, seriously researching more than a dozen sectors and investing hundreds of thousands of US dollars in each sector. As a result, the wealth he had accumulated at the peak of the bull market was lost in a roller coaster ride.
This is my third bull market:
Watching the market fluctuate and experience huge swings, it's impossible not to feel a pang of unease.
When I see Trump creating a dozen A10s a day, when I see many people making a fortune from a single insider tip, when I see you all making a hundredfold return in a single day on a certain platform; how could I remain unmoved? Of course, I'm tormented inside, because I'm always so close to the source of the information!
But every time I think about making a move, about going all in for a last-minute All In, I remember my past experiences. They tell me, or even jol me awake, whether I'm gambling or truly knowledgeable. I might be willing to All In all in based on a piece of information, but can I bear the consequences of failure?
So I eventually withdrew my outstretched hand and restless heart. Clearly, this cycle was the best I've lived in all these years.
Of course, I know I'm tempted, but I'm not yet able to remain calm and composed, nor can I truly understand the "essence of investing," so I still need to cultivate myself! I hope that in the next bull market, I can achieve these things.
After all, there's a huge gap between knowing and doing!
I said: When you want to do everything, it often means you shouldn't do anything. When you start frequently explaining why you buy and sell, you're actually just trying to legitimize your emotions. So what I do is simple: watch the market less, explain less, and don't try to prove anything. I don't participate in short-term wins and losses; I only focus on long-term survival.
For the first time, I truly understood a well-worn yet extremely difficult principle: In a bull market, simply surviving is a skill in itself. To survive means allowing yourself to miss out, allowing others to become rich overnight, and allowing the world to be irrelevant to you.
So my biggest takeaway this year isn't "how much I actually made," but rather—I've finally begun to understand what investing really is, and I'm finally more like someone who can "stay at the poker table for a long time."
So this year, my most satisfying aspect can be summed up in four words: less movement, fewer mistakes.
Below are some of my specific observations:
2. Twelve sentences for everyone (also for my future self)
I found these in my previous writings; each sentence is something I painstakingly recorded in my notebook after painstakingly composing my experiences:
1) The market is not an ATM, but a mirror that reveals your true nature sooner or later.
2) Minimal losses are equivalent to gains: Those who minimize drawdowns will inevitably win in the long run. Therefore, we can occasionally make smaller profits, but we must never suffer large losses.
3) Don't fantasize about godlike plays; true masters are "stable and replicable".
4) I can be foolish, and I can be greedy, but never be greedy when you are foolish, and never be foolish when you are greedy.
5) Most of the time, what you earn is not money from market trends, but a reward for correcting your character flaws.
6) Don't let your position size control your emotions; let the process control your position size.
7) You can never catch all the hot topics, but you can lose all your principal.
8) Wealth is a reward for cognition, not a reward for hard work.
9) Profit is not the end goal, taking it is. Be brave in withdrawing funds and don't be afraid of difficulties.
10) Those who survive several bull markets are more likely to win in the end.
11) He can make money not because he is smarter, but because he is still around.
12) What truly determines your long-term gains is not how many opportunities you seize, but how many times you refrain from taking action in the face of temptation.
3. My investment strategy for 2026 (I will not predict market trends, only outline actions I can control)
I'll leave this disclaimer here: The following is my own review framework and does not constitute any investment advice.
I am only responsible for one thing: doing the things I can control well.
① Continue to adhere to the "core warehouse + satellite warehouse" structure.
My core portfolio consists only of things I'm willing to hold long-term and that allow me to sleep soundly. I will hold these long-term and absolutely do not understand them.
Satellite position: I reserve a portion of the position for research, event-driven trading, and high-odds opportunities. Losses will not affect me.
Discipline: Prioritize channeling the profits from satellite accounts back into core accounts (turning the spoils of victory into a foundation).
I am increasingly convinced that opportunities will always be there, and what truly takes you far is not a single bet of ten times the initial investment, but rather betting ten times without suffering significant losses.
② Only operate on 2-3 "main channels," and observe all others.
In 2026, I will focus more on that kind of thing—
In areas where there is sufficient scale, clear rhythm, verifiability, and where I have an advantage in execution.
No longer be led astray by the "excitement".
The excitement belongs to others; profits belong to those who are disciplined.
③ Treat "low-risk returns" as a long-term capability: cash flow is the foundation.
Those who can't survive a bear market won't survive a bull market either.
What allows you to maintain a steady pace is never high-stakes gambling, but rather cash flow and low-risk compound interest. Therefore, I will continue to optimize my cash flow and adjust my positions when appropriate, ensuring I always have ample capital to accumulate resources and capital for future speculation!
So, I hope that in 2026 I will be more like a "manager": feeding long-term, certain results with certain actions.
④ Selling will become a mandatory course for me:
Many people lose not because of their buying point, but because of their selling point.
Those who can't sell their products will eventually have to give back their profits.
Therefore, in 2026 I will place even greater emphasis on: seizing every opportunity to profit, not hesitating to sell, taking profits in batches, and selling decisively. Earning a little less is one thing, but a large drawdown is what truly hurts!
Therefore, firmly adhering to the principle of withdrawing at 10% and 30% drops is a principle I need to continue to uphold. Treat "cashing in" as a skill, not as "betraying your beliefs." Beliefs don't take responsibility for your life; cash does.
4. Other things I want to say: about networking and travel!
This is something I only realized belatedly this year, but it is extremely important.
Many of my friends may have noticed that I traveled significantly more in 2025 than before, because I truly benefited greatly from it, which is where the importance of building relationships and traveling comes in!
1) Connections and information:
What is networking?
It's not about who you know, but about how much certainty you can offer others and how much uncertainty they're willing to take on for you.
This is how I understand networking!
Many people understand investing as researching projects, monitoring the market, calculating models, and relying on judgment. But you may not realize that what truly determines your long-term ceiling is often not what you know, but who you can connect with—in other words, where your network is!
Connections and information have weight.
The same piece of information has completely different value when it comes from a stranger versus from someone you trust who has been repeatedly validated by the market.
Therefore, offline contact with people from different circles may create cross-industry opportunities, open up knowledge gaps, or expose you to opportunities that can make you money quickly (though others may not see it that way).
Those who understand will know what I'm talking about. It's a very real rule: truly good opportunities are almost never "openly competitive"; they are often only "mentioned incidentally" within a small circle.
For example:
The investment opportunity in Aster is one of the biggest investments this year.
However, there are two prerequisites: first, you need to be exposed to this opportunity; second, you need to recognize it as an opportunity. These two prerequisites require whether you have the network of connections that will connect you. Given the same conditions, why would others consider you? Additionally, you need to believe it's an opportunity. Perhaps it's just a casual mention within a small circle that makes you aware of the complementary relationship between Aster and Binance, which will motivate you to decide to invest in this venture capital.
Otherwise, under the circumstances at the time, ordinary people would not have had the opportunity or the courage to place bets.
This illustrates the importance of personal connections, and there are countless examples of this. For instance, on the morning Trump announced his cryptocurrency, did anyone give you this information? Or at 4 a.m. on October 11th, did anyone call you to wake you up and buy Weth at the buy the dips?
Some things don't happen for no reason. Whether you can be in that circle doesn't depend on how big your account is, but on whether others are willing to believe in you, remember you, and treat you as a "long-term relationship".
Of course, if you're willing to step outside your comfort zone, there's another hidden value: it will constantly recalibrate your understanding. You'll discover that the world is vast, there are many experts, and what you previously perceived as "certainty" may simply be prejudice from a different perspective.
This is extremely important for investing. A person who doesn't engage with the real world is prone to mistaking market trends for everything and luck for ability.
So in 2026 I will continue to travel more, and of course I will also improve my English so that I can not only build better relationships with everyone, but also make more friends abroad.
Here's a flag I'm setting for myself:
In 2026, I will give a public speech in English, lasting no less than 5 minutes.
2) The meaning of travel
In 2025 I traveled to many places: New Zealand, South Korea, Bali, Dubai, Hong Kong, Japan, and Vietnam.
The most common cities in China are Shanghai, Shenzhen, and Chengdu.
More often than not, changing our environment, meeting new people, and stepping out of our familiar comfort zone allows us to see more interesting things and stimulates us to explore ourselves and the world, as well as our relationship with the world.
After going through this experience, I've come to realize one thing: for investors, travel is not consumption, but calibration.
When you stay in one place for a long time, it's easy to become surrounded by a single narrative: a market sentiment, a way to make money, a set of value judgments. Over time, people unconsciously take "local experience" as "the truth of the world".
When you actually go out and meet people from different cities, cultures, and social circles, you'll find that many things you once firmly believed were actually just a matter of perspective.
Especially during the two-plus months of winter in New Zealand, in the Southern Hemisphere, watching the sea, the mountains, and the sunset, that anxiety of "Am I missing something?" would repeatedly surface, but over time, I actually relaxed, and it has continued to this day.
I think my current emotional stability stems largely from those two months of daily self-talk. During that time, I began to realize that much of my anxiety doesn't come from the risks themselves, but from being constantly in a stimulating environment. When you step away from market fluctuations, social noise, and immediate feedback on results, you rediscover your own rhythm.
If you don't check your phone for an hour, you won't miss any important news; if you don't check the market for a day, you won't lose all your wealth; if you don't attend meetings for a week, there won't be any projects that you can't manage.
So during those two months, I hardly traded at all, but I figured out a lot of things I couldn't understand before:
What kind of life do I want?
Why do I have to win every round?
What kind of certainty am I willing to wait for?
Investing isn't about always being on the front lines, but about having the option to step back.
If I had to pinpoint the most profound experience that changed me this year, it wouldn't be a sudden surge in my career or a particular opportunity, but rather the slow pace, tranquility, and undisturbed environment I experienced in New Zealand during July and August.
It didn't make me a lot of money, but it made me more stable, calmer, and less prone to losing control in the market later on. None of these things can be seen in candlestick charts, but they subtly change your judgment of risk, rhythm, success, and happiness.
Investing, in essence, is a collection of these judgments.
So I suggest that everyone go out more often when they have free time, go out and explore, see more of the world, and see more of your true self!
If I were to offer a non-trading-related piece of advice: Don't just hone your skills in front of a screen; get out into the real world. Meet people, observe the weather, chat, learn, and build trust. Often, this itself is a form of long-term compound interest; the moment you expand your network, you are actually expanding your future options.
5. Conclusion: I want to say thank you to 2025:
Having said that, I still want to express my gratitude to 2025. Thank you for the ups and downs, temptations, anxieties, and surprises this year has brought me; and thank you for all the experiences and people I've had over the years, for the inspiration they've given me.
When I take a walk by the lake in the afternoon, the sunlight shines on the road and the lake surface sparkles. A feeling of emotion naturally rises in my heart. It is an emotion that cannot be expressed in words. It is a heartfelt gratitude for the world. In that moment, I feel that the world is infinitely beautiful.
Thank you for all my experiences, which have made me more humble and more clear-headed.
I'm becoming more and more certain of one thing: the ultimate goal of investing isn't to prove how smart I am, but to give me a freer, more stable, and more dignified life. In the end, happiness is the most important thing, and everything else is secondary!
In 2026, continue to talk to yourself more, make fewer mistakes, be less impulsive, take more, live longer, and let compound interest become your friend, not just a legend in books.
I really like a quote from Mr. Zhu Deyong, and I'd like to share it with everyone as a life guide for 2026:
Accept yourself, value yourself, maintain your own lifestyle, interact less with others, love those you should love, and cut off contact with those you only have forced interactions with. Maintain your physique, preserve your creative passion , hold a pessimistic attitude towards the world, use your creations to inspire others, recall memories, good or bad, be gentle with yourself and others , but keep your distance. I don't disturb others, and I don't let others disturb me. I am a humble cat lover, calmly observing the absurdity of humanity. Reject what needs to be rejected, respect for life and death, and live an insignificant life.
Finally, I wish everyone a happy new year: don't be a sucker, don't be a gambler, and be someone who can navigate through economic cycles .
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