Selected Interviews with Yu Yu:

Yu Yu, 28 years old, has been honing his skills in the cryptocurrency market for 8 years:

Starting with a university living allowance of 20,000 yuan, he experienced three margin calls to zero, then borrowed 50,000 yuan to restart his journey;
At 24, he followed his father’s advice to buy a house with part of his profits, avoiding wealth evaporation, practicing "profits must be accumulated";
Using the discipline of "never add to a floating loss," he restrained his human nature and earned tens of millions in the ORDI rolling position battle;
Always "only doing secondary market swing trading," rejecting on-chain and spot market temptations, focusing on his core competencies.

Mia: How did you start learning trading and get through the "novice period"?

Yu Yu: At first, I didn’t understand trading at all, nor had I touched stock assets. I initially just played spot trading, but kept losing money. I felt I couldn’t go on like this, so I decided to systematically learn technical analysis and trading skills. I bought a few books, the first one being "Reminiscences of a Stock Operator." This book has run through my entire eight-year trading career; I’ve read it at least ten times, each time gaining new insights.

To summarize in three sentences: First, "The market will always move in the direction of least resistance."
Second, "You need to know this is a bull market," meaning during a bull market, you should believe that the trend has already formed and trust that the market will carry you to earn excess returns.
Third, and very important, is "Never trade against the trend." The root cause of many people losing money is here: they always want to do both sides, want to eat on both long and short, but the result is often getting hit from both ends.

Mia: When you were in floating profit and adding to your position, what was your typical ratio for adding?

Yu Yu: It was almost always a 1:1 ratio. For example, initially I used double leverage; when the price broke through, I would add another double leverage. Later, when encountering an important resistance level, my leverage was already four times my initial capital. The next breakout, I would add four times leverage again. It’s a continuous rolling position.

Mia: After three margin calls, did you reflect on your mistakes? What changes did you make in your trading later?

Yu Yu: I always did a thorough review after each margin call. The first time was in 2021, when I had over 10 million yuan in the market but was completely wiped out due to blind optimism and overconfidence. I firmly believed Bitcoin would rise to 100,000 and thought I could turn this money into 50 million. But I didn’t notice the market reversal — it was a youthful, reckless arrogance. The second margin call was very similar, again due to overconfidence; I kept chasing high during a strong trend, thinking my judgment was very accurate, but it ended in failure again. The third was chasing altcoins at a high point, getting cut badly by a "headshot." I didn’t cut losses in time, hoping for a rebound, but it was just a brief weak bounce, followed by a sharp decline, and my psychological defenses were completely broken. These reviews made me realize that the root cause of margin calls isn’t the market, but my arrogance and emotions. Later, I changed my strategy: whenever I think "the market must go as I expect," I force myself to stay calm and avoid opening high-leverage positions under such emotions. I summarized a lesson: don’t use too high leverage on a single coin. Under high leverage, even a small market move, like a 3% or 5% drop, can cause heavy losses. You get trapped, miss opportunities to adjust and transfer funds, and watch the market offer other profit opportunities helplessly.

Risk Control System: Large funds should focus on mainstream coins, and after profits, partial withdrawals are necessary.

Trend Judgment: Mainly observe naked K-line and volume-price, to achieve unity of knowledge and action.