Here is the translation into American English, preserving the original line structure and content:



Summarize a few pitfalls where I lost money:
Each pitfall reminds me that losing less is the prerequisite for making money.
In investment and speculation, the most important thing is to know where you lose money and stay away from it!
1. After making money, I naively trusted "sure-win projects" introduced by short-term acquaintances
Projects invested through friends as agent investments
In 2018, the funds I put in were completely lost! Lost over 60% of principal
2. In 2018, near the end of the crypto bull market, I invested in primary projects and "king projects"
Invested in mining forked Bitcoin projects, losing 250 Bitcoins
3. After Bitcoin hit a new high in the bull market, I started increasing low-leverage perpetual contracts and holding against the trend
Later, emotional reverse trading: during the March 12 crash, after losing on long positions, I started opening short positions, losing about 1 million in total from both longs and shorts
4. Started believing that star fund managers always win more than they lose, made some profits in A-share funds, and began investing heavily in funds in 2021, eventually turning profit into loss, and finally cutting losses due to oversized positions
5. Became bolder after making speculative profits
After making money on NFTs, I started hoarding various small images
After a few thousand U in inscriptions turned into tens of times profit,
I increased my investment, put in millions, and eventually it went to zero
6. Saw "P-little generals" making money on meme coins as easily as drinking water
Frequently bought various meme coins and held them, eventually bought at the top and went to zero
7. Led others in trading, believed in strategies, believed in copy trading, traded contracts
Made trivial profits, and finally went to zero directly
8. Turned airdrop farming into buying: used multiple accounts to participate in alpha point programs, and after seeing others get rich from airdrops, started buying various alpha tokens, eventually going to zero
9. Believed in celebrity and institution shills, like "hold and don't fear, never sell" – these are the most likely to result in heavy positions at the top and cutting losses at the bottom.
Bitcoin at 120k, institutions see 200k; Ethereum at 3000, see 1M; OKB at 200, see 400 – formed faith groups, holding groups, only to find out we were all exit liquidity.
10. When the market goes up, 99% of people will analyze the reasons for the rise; when the market goes down, 99% of people will be even more pessimistic.
11. Became addicted to the thrill of short-term gains, ignored overall losses, ignored long-term returns, let emotions follow the K-line fluctuations, and lost the meaning of making money.
BTC4.05%
MEME-2.95%
ETH4.48%
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