Having spent these years in exchanges, the question I get asked the most is: “How do you turn ten thousand in principal into a million?”

I used to respond politely. Now? I’ll just tell you the truth—very few people make it by relying on talent, and not many succeed by sudden insight. Where do most people fail? They die not knowing how to survive until the next bull market.

Six years ago, I only had a little over ten thousand yuan and got battered by the market. Back then, I thought trading was all about staring at charts, seizing opportunities, and frequent operations. Only later did I understand: real profits are made by staying out, windfall gains are earned by enduring, and comebacks are achieved by waiting.

What really multiplied my account wasn’t some magical technique. It was realizing one thing—those market moves that can change your fate only come a few times a year.

I remember once doing short-term trades, catching some big positive news at night but not selling. The next day, prices surged, and my first reaction wasn’t greed, it was to get out. Why? Because I finally understood: when good news is realized, it’s usually a short-term top. If you don’t exit, you’re left holding the bag. You think the top is miles away? Actually, it’s in those few seconds you hesitate. What traps you isn’t the market itself, but that little bit of wishful thinking in your heart.

Gradually, my approach changed.

I don’t guess directions before holidays. I proactively clear my positions before major news. If the trend is unclear, I sit out. I only act when the market explodes. Some say I’m too conservative? Only I know that it’s exactly this “conservativeness” that lets me survive until the start of each new cycle.

Speaking of mindset—that’s the real key.

The most surreal thing about the crypto world is: when you make money, you get arrogant; when you lose, you panic. If you don’t suppress both emotions, you’ll always remain a retail trader. I’ve seen too many small-cap players who think they’re invincible after three days of gains, and feel the world is ending after two days of losses. But in the eyes of real pros, rises and falls are just data. Only when your mindset is steady can your account be stable.

Is there a secret to turning ten thousand into a million?

Yes. But it’s not some indicator formula, nor any all-powerful technique. It’s about when you can do this: dare to go all cash, know how to wait, execute strictly, and not get led around by market sentiment.

I’ve stepped on all the traps there are. If you want to survive in this market, or even find your footing, remember this: the market never waits for anyone, but opportunities are always reserved for those who can control risk.