New Thoughts on the Crypto Space First of all, to summarize in one sentence, I no longer consider myself a coin trader. I don't just buy spot and hold, waiting for it to increase 100 or 1000 times. I have been professionally trading with leverage for 5 years and 3 months. In fact, I am no different from those trading gold futures, crude oil futures, or indices. In my eyes, various cryptocurrencies are just leveraged trading instruments; I don't believe they can change the world or have any intrinsic value. Recently, tokenized US stocks have become popular. On crypto exchanges, you can trade US stock futures or buy quality US stock spot assets. It's very convenient and lowers the entry barrier for ordinary people to trade US stocks—you can start trading with just 1 dollar. It's truly an excellent platform for ordinary people to change their lives. Then, the recent sharp drops in the storage sector—SanDisk, Hynix, Micron—followed by a 40-50% rebound in just 2 days, illustrate a point: cryptocurrencies will eventually zero out, altcoins will become fewer, and perhaps in the end, OKX exchange will just be a platform for US stocks and major coins like Bitcoin and Ethereum. So, if you want to make money by just buying spot and holding like before, don't participate anymore. This will become a highly professional market; ordinary people without study or professional knowledge have no chance to change their class (the story of someone turning 100,000 NEO into 1 billion in 2017 won't happen again). I hope everyone loves and masters their field. If you really want to make a living from this, you must invest 10,000% effort and respect your own time. Also, trading requires no innate talent but learning, just like studying medicine—accumulate knowledge and then unleash it. This path is difficult, but not without a way. $SNDK

Reflections on 5 Years of Full-Time Trading Since resigning from a central enterprise in April 2021 to trade full-time, it has now been a full 5 years. Since it's been five years, I thought I should write something to leave a record. In these 5 years, I have devoted all my passion, time, and money. ------------------------------- My schoolmate and comrade said I played a good hand terribly. I was a special forces soldier, the only one in our entire regiment who served 2 years and still joined the Party. After discharge, I returned to school, transferring from our school's top architecture major to the tough civil engineering major. But by graduation, I was one of only two people who got hired by a certain central enterprise through my own efforts. (Because by the time our school recruited for this major, that central enterprise had already filled their quota; they hired two people, me and a classmate whose family elder was reportedly a retired senior provincial official). Graduating from university with the honors of being a former special forces soldier, a national flag guard, a provincial outstanding graduate, and scoring over 500 on English CET-4 and CET-6, I entered a Fortune 500 central enterprise. In the company, due to high emotional intelligence, good image, and sound cognition and logical thinking, I was well regarded by leadership. If things had continued on this path, I probably would have become a leader like my schoolmate and comrade. --------------------------- However, by a twist of fate, I entered the narrow gate of professional trading. At the beginning of 2021, after earning my first ten-million-level fortune, I mistakenly thought trading was a profession that could be easily successful. Like most people, I became arrogant. Winning 1.5 million on one trade and losing 2 million on another didn’t faze me because I believed I was truly the chosen one, the god of trading. At this rate, even Buffett wouldn’t be on my radar. From the second half of 2021, I started steadily losing money, tens of thousands at a time. I would lose, then chase, then hold on to profits without taking them, only to lose again before exiting. At the start of 2022, I began to panic. First, because my funds were running low, almost depleted; second, I realized the technical indicators I had learned before seemed useless. From 2022 to 2024, I began a new phase of my trading life, the second and third years, constantly writing review notes. Although they seem naive now, I believe this was my first step toward change. By the end of 2024, I started to awaken, realizing that the MA, MACD, and other technical indicators I had painstakingly reviewed were useless and wrong. But at that time, I was still skeptical and gradually verifying my new understanding. In the winter solstice of 2025, I truly reached enlightenment. I became very certain that short-term contract trading does not rely on various technical indicators but on volume, price, and structural breakout behavior. In 2025, I achieved twice turning $200 into $40,000 in 20 days, a 200x return. This gave me great confidence. I had just awakened to the fact that my spiritual guide in trading was the couch potato Bitcoin, who said in 2021 at A&A that trading correctness is unrelated to principal. But why did I earn and then lose it back? One reason is economic pressure in real life; the second is lack of self-control. These two issues are still what I am striving to overcome. When cognition reaches the correct dimension, unity of knowledge and action is effective. If cognition is wrong, unity of execution only compounds the error. After saying so much, what I want to tell everyone is that trading ultimately comes down to volume, price, and structure. Don’t waste energy chasing some trading holy grail or deceptive technical indicators. My trading has really come full circle and returned to basics: chase breakouts, stop loss on false breakouts. It really is that simple. I don’t know how far this path will take me, but as long as I can keep going, I will walk it steadfastly and unwaveringly.

Today is the Winter Solstice according to the Chinese lunar calendar, an important milestone and also a significant point in Haihai's trading career! Haihai has truly attained enlightenment. Because I have solved the last difficult problem in trading that I had struggled with before: how to resolve the contradiction between "controlling drawdown and enduring drawdown." This problem is now completely solved. So the two times this year, in March-April and October-November, when I turned a little over 1,000 yuan into over 200,000 yuan in about 20 days, a 200x return, and then lost it again— all the flaws and shortcomings in that process have now been thoroughly resolved. Because my trading system has now been finalized, and I have named it: the Structural Trading System! In the future, Haihai's trading legend and the Structural Trading System will surely be widely talked about and spread. I’m giving myself this praise first!!!! My old self: 1. When I saw sharp rises and steep falls, I would feel impulsive inside. 2. I used to fear missing out, fear being sidelined, fear that this might be the "trade of destiny." My current self: 1. I know this asset "cannot be touched right now." 2. I know I have to wait for it to form a certain structure before taking action. 3. After taking action, I know whether it’s a "trial-and-error trade," "riding the main rise," or "endgame play." I have completely shifted from emotion-driven to structure-driven now!!!!! 1. I know when not to trade: when the structure isn’t complete, emotions are still present, and no error points have appeared. This understanding solved my itch to trade! 2. I know when I can try and err! The trial-and-error trades I make are logical, not gambling on direction! This understanding helped me accept losses and drawdowns! 3. I know how to hold after entering! Whether to ride out emotional pullbacks, structural reversals, or large-scale trends. This understanding solved the problem of which candlestick I should be worried about and which I should ignore!! One more thing for everyone: if you are still at the stage of "the market is causing me to lose money," it really means your understanding is almost zero. When you reach the stage of "where did I make a mistake," your understanding begins to accumulate, and your trading can be said to have just started. Above is excerpted from my Weibo post on 2025.12.25, reflections on the Winter Solstice.

$BICO false breakout basically confirmed Short with stop loss Watch the follow-up trend here, if confirmed At least break below 0.019

$SNDK Q4 revenue was $8.965 billion, estimated at $8.394 billion Why did SanDisk's stock drop in response? 1. Earnings beat expectations = fulfilling already anticipated positive news 2. No new, bigger growth prospects given to the market. 3. Cyclical stock at a high level 4. "Just meeting expectations" is enough to trigger profit-taking. So yesterday's 1483 can be regarded as a recent rebound high point

$SNDK has been heavily bought Earnings report will be released at 4 AM tonight Most likely positive news Wait for the earnings report to spike, then short immediately

$SPCX Q2 earnings report is out It's a small positive, profits exceeded expectations But the market has already priced it in Looking at the market, a top structure has already formed The key point is still the 8.6 20% stock unlock