Starting from the furry industry, and then to the MEME track, he has made profits of over 10 million yuan from multiple single projects.
Fengshen said that if you want to succeed, you must continue to work hard to do the right things.
The one who knows the most about trading in airdrops, the all-round player who knows the most about airdrops in trading @ 0x0xfeng tells you how to trade and make money at the same time?
This is a series of dialogues with friends of #OKX , the interviewer is @mia_okx, welcome to follow~
How to make the first 10 million?
I used to work as a VP of marketing operations at an e-commerce company. In 2021, by chance, I came into contact with the new listing business in the field of cryptocurrency. Then I resolutely quit my job at the e-commerce company and focused on the new listing of cryptocurrency. At that time, the popularity of Bitcoin and blockchain was gradually heating up. I reviewed past projects, calculated costs and benefits, and found that the profits were considerable. I thought this was an opportunity not to be missed.
The first 10 million was earned through Coinlist IPO. The IPO studio was not big. At first, I just put a table in the living room and hired two college students to work. Then I started like this. The initial investment included two computers, with a total investment of more than 10,000 yuan; I hired two fresh college graduates, with a monthly salary of about 4,000 yuan per person, etc. Through these investments, each account can invest 500 dollars, and a single project can invest 10,000 to 20,000 U.
Although the winning rate of new IPOs at that time was only 3%-5%, there were few IDO projects that lost money. MX initially invested more than 25,000 dollars and earned 700,000 to 800,000 dollars, and then bought People to reach 10 million. After the collapse of Luna and FTX, there was a retracement of more than two years before returning to the peak of that year.
How to smoothly transition from the airdrop track to the MEME track
In fact, many people who play MEME don’t speculate in coins. There may be 100 CAs in P Xiaojiang’s group every day, and 999 if they don’t check the news for a while, while there may be only dozens of sentences in the group of Lumao, and most of the time they are busy working on projects, so these are two different types of people. And I was able to quickly switch from Lumao to MEME because I have friends around me who are playing, and I also like to play MEME. Personally, I feel that playing MEME requires positive feedback, otherwise you will fall into anxiety and self-involution, and it will not last too long. MEME has an impossible triangle - capacity, multiples and certainty.
1. Capacity means that you can get a large position
2. Multiples are the ability to generate several or even dozens of times the profit.
3. Certainty, as the name suggests, means that you will definitely make money if you invest
However, this kind of MEMEE is currently only seen on $TRUMP. It has both capacity (the official has added tens of millions of dollars to the pool), multiples (you can enjoy several times or even dozens of times the return if you buy a large position from the beginning), and certainty (the MEME issued by Trump himself)
MEME’s Road to Gold
I prefer to play with the second stage or the coins with larger capacity. P Xiaojiang basically sleeps for 6-8 hours, and the rest of the time is all on the chain, and basically needs to adjust to the time difference. First of all, this is very harmful to the body, and I cant bear it. Secondly, the 100-fold returns we see all require very early entry, and it is very difficult to get into the inner plate. Those fast-passing dealers usually fill up the inner plate by themselves, and retail investors rarely have the opportunity to get in, so personally I play more in the second stage. Generally, for a plate of tens of millions or hundreds of millions, as long as the narrative can be understood, and then you can roughly judge the market valuation by yourself, it is easy to get 50% or double it. It is difficult to double the currency of the exchange, but it is relatively easy to double or several times in the MEME market compared to the exchange.
At first, $BOME and $SLERF made me earn more money, and then Japan Cat also made a lot. $SLERF made 1.2 million dollars in one hour, and Japan Cat made about 1 million dollars in one night. At present, these two made more money. In the second stage, $ChillGuy also made a lot. At that time, $CHILLGUY had a large position to buy the bottom, and sold it when it rebounded and listed on the big exchange. $TRUMP bought 600,000 dollars at an average price of about 14 dollars. Then I bought $MELANIA for less than 2 million, but I made a few hundred thousand and ran away.
How to judge MEME narratives?
Look at the popularity of the IP and the operational capabilities of the project. For an emotional market like this, if you feel that the popularity has reached its peak, you need to sell it. There is a saying that goes, Sell when the crowds are bustling. This is the truth. For example, although GOAT is at 600-700 m when the crowds are bustling, it is actually okay to sell it at that time. Although it is not sold at the highest price, as long as it is a reasonable price in your cognition or psychology, it will be fine.
In the final analysis, you still need to review more, train your understanding and sense of the market, and accumulate experience. For example, if you have experienced a coin from its beginning to its climax, and then from its climax to zero, then you have probably experienced the life of this token. For example, $TRUMP, many people invested hundreds of thousands of dollars or one million dollars. $SLERF and $BOME are similar, and their biggest feature is fairness. This is also in line with the previously mentioned MEME impossible triangle theory, where capacity, multiples, and certainty are all gathered.
For $CHILLGUY, the market was hot and emotional at the time. Every time it went down deeply, there was a strong force to buy at the bottom. At the same time, observing the trading volume and the number of addresses holding $CHILLGUY, I think it should be a contract that can be listed on major exchanges, which means that it still has strong expectations for rising. It is also very simple to judge the turnover rate. If the turnover rate exceeds 1%-5%, the turnover is already sufficient. The most significant phenomenon is that the trading volume remains high, but the market value has not changed much.
The number of $CHILLGUY holding addresses is over 100,000, while the number of $TRUMP holding addresses is over 700,000. Generally, most MEME holding addresses are around 40,000 to 50,000. It is obvious that CHILLGUY has a large flow, and the on-chain transaction volume has dominated the charts for several consecutive days. In addition, it is a very novel concept in the TIKTOK track, so I will choose to get on board. My biggest feeling is that MEME is very different from traditional VC coins. Due to the novelty of MEME coins, especially the leader of a track, we cannot accurately value them, unlike the traditional Layer 2 public chain, which can be roughly valued by TVL, user volume and ecology. Including $ORDI, it was also difficult to value at the beginning. It is difficult for you to judge the valuation of a new thing in a track.
How to control take-profit, stop-loss and position management?
1. Don’t be too optimistic and avoid self-brainwashing
• Traders tend to be overly optimistic about the projects they choose and ignore their potential risks. Learn to analyze projects from a calm and objective standpoint and avoid self-brainwashing and self-satisfaction. For example, when a project rises due to a wave of popularity and then falls, it is necessary to rationally judge whether it can rise again, rather than blindly believing that it will repeat the previous trend.
2. Stop loss in time, don’t hold on
• Many people will hold on to losing projects because they are unwilling to give up, always thinking about getting their money back, but this often misses the best time to stop losses, leading to further losses. You must learn to judge whether a project still has potential. If you think the project will not take off, you must stop losses decisively to avoid getting deeper and deeper into trouble. As Feng Wuxiang said, in the long run, only good cards are worth investing in, and bad cards should be abandoned in time.
3. Allocate positions reasonably to avoid excessive concentration
• Do not concentrate all funds on a few projects, but allocate positions reasonably to reduce risks. You can increase the tolerance rate by diversifying transactions. Even if some projects lose money, it will not cause a devastating blow to the overall assets. For example, I once mentioned that even if 5 out of 10 projects are cut in half, the safety of the overall assets can still be guaranteed through reasonable position management.
4. Use profits to roll over and invest to keep the principal safe
• Learn to use profits to roll over trades instead of constantly adding principal. This way, you can increase investment returns while ensuring the safety of the principal. When you make a profit, you can use part of the profit for re-trading, but make sure that the principal is not lost. In this way, you can increase your assets in a long-term and stable manner.
5. Pay attention to project narrative and market sentiment
• Project narrative and market sentiment are crucial to trading decisions. You need to learn to judge whether the project narrative is attractive and whether market sentiment is high. When market sentiment reaches a climax, it is often a good time to take profits; when market sentiment is low, it may be an opportunity to make a layout. For example, when the whole world is calling for a certain project, it is likely that it is time to sell.
6. Choose projects with high certainty
• During the transaction process, try to choose projects with high certainty. For projects with clear application scenarios, strong team background and good market prospects, more attention and transactions can be given. At the same time, avoid investing in projects with high uncertainty to reduce transaction risks.
How to play MEME and make money on both tracks?
Because the thing called money laundering is a very authentic thing. For example, when playing MEME, one often gets used to using JUP because one knows that JUP will have airdrops in the future.
I actually dont use BOT, I only play the second stage. In most cases, for example, after we buy BOT, it rises to a certain level and stabilizes. When I want to sell, I also use JUP to sell, which not only increases the transaction volume of JUP, but also reduces the fee of BOT by 1%. So I got 50,000 dollars from the airdrop, and gave this Trading BOT less, which is about 50,000 dollars. Add up to 100,000 dollars, and the wear and tear of playing MEME is recovered. In fact, if you calculate it this way, it is not a small amount of money.
The same is true for Metaora. Many people thought that Metaora was also a relatively large one. When I sell coins, I usually add a one-sided pool to Metaora, collect the handling fee, and then exit. I know that Metaoras airdrop will also be very valuable. For example, if I have 50,000 coins now, I add it to the pool, and sell it for 70,000 or 80,000 dollars at a certain price. The handling fee is 5K-10,000 dollars, and the handling fee and airdrop will be fed back to me in the future.
In short, while playing with MEME, do some very positive things, such as deliberately using more project tools with airdrops.
@mia_okx wrote at the end:
Fengshen is a very straightforward and sincere person. Many times during the chat, I tried to ask him to summarize some methodologies with such a high winning rate for everyone, but he didn’t say anything high-sounding. He just said lightly that you will get the feeling after playing more.
He said that the successful people he knew who had worked their way up from the bottom all worked 16 hours a day, 6 days a week, and devoted themselves to their work. They persisted for one or two years or even longer before they succeeded. Doing the right thing, calculating the expected return, and then just sitting back and persisting, once again made the words focus and hard work more concrete in Mias mind.
This time, Fengshen also shared the method of continuous profit without reservation. Multi-dimensional strategy is the key, combining the dual tracks of Lumao and MEME, making good use of the advantages of each platform, and focusing on long-term benefits. And risk control is equally important, stop loss in time, allocate funds reasonably, and avoid chasing high and killing low. In terms of mentality, he suggested to remain objective and calm, not pursue perfection, and accept the laws of the market. Long-term development requires continuous learning, patience, and stability. I hope everyone will gain something.
Finally, I would like to thank @0x 0 xfeng for sharing. Everyone is welcome to continue to pay attention to the Friends of OKX dialogue series.
Disclaimer:
This article is for reference only. This article only represents the authors views and does not represent the position of OKX. This article is not intended to provide (i) investment advice or investment recommendations; (ii) an offer or solicitation to buy, sell or hold digital assets; (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of such information. Holding digital assets (including stablecoins and NFTs) involves high risks and may fluctuate significantly. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. Please consult your legal/tax/investment professionals for your specific situation. Please be responsible for understanding and complying with local applicable laws and regulations.
