From Debt Degen to an Annual Income of 40 Million: The Legendary Trader "Aoying"'s Get Liquidated Comeback and Profit Secrets

He was once an internet product manager, but he plunged headlong into the ever-changing world of Web3;

He was once a debt-ridden Degen, repeatedly getting liquidated in the "200,000 curse";

Now, it is possible to achieve profits of millions of dollars multiple times with a single coin, with annual returns exceeding 40 million.

He has topped the exchange's leaderboard three times, creating a legendary performance in real trading: a 20000% return, a profit of 1.4 million U for a single coin, and 1.8 million U profit for followers.

This is not just a simple rags-to-riches story, but a true evolution history of a trader filled with hardships, deep reflections, and continuous growth—how exactly is the art of enduring the market honed?

1. Confused Crossroads: From Web2 "Screwing Bolts" to Web3 "Becoming a Legend in One Battle"

The beginning of every legend is often accompanied by unknown confusion and struggle. The story of Boiling Eagle is no exception, and his Web3 journey began with an unwillingness to the status quo and a desire for a side hustle. "I used to do Internet products," recalls Boiling. In 2020, due to work needs, he first came into contact with the emerging field of Web3, and officially started his futures trading (contract) career in 2021. At that time, he was not a desperate gamble as everyone imagined, but with a cautious and trying mentality.

"In the beginning, the principal was very small, with a monthly salary of over ten thousand, I could take out three to five thousand RMB to trade." Ao Ying resembled countless young people who just entered the crypto world—harboring a longing for wealth appreciation, cautiously dipping their toes into the market with part of their salary. However, reality quickly delivered a heavy blow: "The result at that time was both losses and gains, but in the end, the losses were still greater."

The deeper reason is that at the age of twenty-four or twenty-five, Ao Ying felt a dual bottleneck in his career and life. "Economic pressure, such as the responsibilities a man should bear like 'buying a house and a car, providing a better life for his girlfriend,'" these practical considerations made him urgently need a side job to seek a breakthrough. Web3 trading became the "lifesaving straw" in his eyes at that time. He admitted that he hadn't fully decided to dedicate himself completely; it was more of a shift and exploration, hoping to find new possibilities.

The turnaround came in an unexpected place. In the continuous trading and investment, despite the overall loss, the eagle did not give up. He started experimenting with the trading feature on the OKX platform and operated it with a tracking number called "all in crypto". "I used the 'all in crypto' tracking number on OKX, and I achieved a triple return in half a year, and the drawdown was very low, so I gained the first batch of fans." This successful experience made him determined. "That's when I quit my job and started trading on my own, all the way to where I am now."

2. The unconventional "alchemy": "learning from" real traders to avoid many detours.

"Everyone's path to learning Web3 is different. I take a more 'unconventional' approach," said Aoying bluntly. While most people are immersed in studying various technical indicators and candlestick theories, his focus is on those traders who exist in real trading software and can consistently make profits.

His learning method is simple and straightforward yet extremely effective: "It involves looking at the real trades of actual traders in various trading software, getting to know them, trying every means to join their fan groups, and then asking them about the logic behind their trades." He emphasizes that the subjects to learn from must be those "who are making significant profits in real trading and are willing to share." This almost "apprentice-style" approach allows him to directly access the most vivid trading cases and the most genuine trading strategies.

Aoying admitted that what he learned from these predecessors was not a set of rigid systematic methodologies, but rather valuable practical experience and a guide to avoid pitfalls. "In fact, what I learned from them is not a systematic methodology, but something that can help you take fewer detours and lose less money." This transfer of experience often strikes at the essence of trading more effectively than theoretical knowledge from books.

Losing money is the best teacher, as one explores the "feel for the market" through repeated liquidation. "Following the map to find the horse, continuously watching the real traders' sharing and their live operations, asking them how each trade is done, why it can make money, and why it can lose." This is the core of the early learning for the eagle. However, just observing without practice is futile; true growth comes from personal experience, especially those painful loss experiences. In this way, one explores little by little, combining continuous real trades and losing money, and the eagle gradually "loses" experience.

III. Rise from the Ashes: Breaking the "200,000 Curse" and the Epic Comeback of the Debt Degen

Starting from a few thousand, reaching hundreds of thousands or even millions is already a challenge for many traders. However, the trader also once found himself trapped by the so-called "funding threshold" or "psychological threshold"—he has repeatedly brought his funds to around 200,000, only to lose it all back without exception, which he refers to as the "200,000 curse." Breaking this curse came with an epic market capture and a deeply painful "wake-up call" from losses.

The real turning point will happen in 2024. Boiling Eagle said frankly that that wave can be done, "Seriously, it's luck." But luck also favors those who are prepared. Between March and June 2024, there were actually two waves of market, one for AI and one for meme coins, and I just caught both. Not only that, but before the start of these big markets, he also accurately stepped on the "second spring" wave of the inscription. "Basically, the three waves of the market have been eaten, and I have broken through the upper limit of funds at once."

The successful capture of these three consecutive market waves was like a stroke of genius, allowing his capital to achieve exponential growth. More importantly, this tremendous success not only enabled him to pay off all his debts but also accumulated considerable profits. From that moment on, he felt that he could finally "keep going," freeing himself from the shadow of repeated losses.

When the loss is heart-wrenching, trading truly begins. Regarding the "200,000 curse" and repeated liquidations, the owl has profound reflections. He believes that the so-called capital threshold is often not due to inadequate trading skills, but rather a psychological issue. "It is more of a psychological aspect – it’s not that you haven't learned your indicators well, you don't watch the market hard enough, or you don’t know how to choose coins, but rather that your character and mindset are not yet in place."

During the debt phase, his trading had transformed, and his mindset was becoming increasingly "underwater." He described his former self as "losing not yet enough pain." Despite having lost a lot of money and many trades, even some trades worth hundreds of thousands that were completely lost back, none of this was enough to make him change completely. "Until I lost to the end, really couldn't lose anymore, if I lost again, I'd really have nothing left, that was when I truly felt the 'pain of loss,' and that solved all problems." This experience of "awakening through loss" was like a wake-up call, fundamentally changing his attitude towards trading. He began to "treat every trade very cautiously, executing each order honestly."

4. The Secret to Eagle Watching: Basically abandon various indicators and rely on "event-driven" strategies to achieve millions in profits.

In the early days of trading, I learned various trading methods pursued by different people, such as the dual moving average system, EMA for moving averages, naked K, Fibonacci, wave theory, Dow theory, and various turtle rules, etc. However, now I only occasionally look at naked K, moving averages, and trading volume; I hardly use anything else. "Indicators can only help you open positions a little better, but they do not determine whether you can make big money in the end. So I have basically abandoned all kinds of indicators now; they might still be on the charts, but I won’t use them for real technical analysis."

"Don't be overly superstitious about indicators. I've personally fallen into various traps, and once I thought I had found a high win-rate strategy, or what you might call a 'trading holy grail,' but in the end, I realized these things are false; only one's own understanding is real." Ao Ying cited an example stating that Bollinger Bands may be useful in Bitcoin's fluctuating market, but they completely fail in trending markets, so one shouldn't be superstitious about indicators.

When Boiling Eagle is making small coins, small-capitalization copycats, or some unpopular mainstream coins, the most important thing is - whether there are hot events driven. Because of his round of big gains, they are basically "event-driven". For example, relying on the macro event of "Trump and Musk pinching each other", shorting DOGE earned 1 million U, and made 1.3 million U by buying ETH in the later stage, etc. For another example, ETH has risen by 80% for 4 consecutive days, and the eagle has been long "hippopotamus", from more than 1 million to more than 5 million, 9 orders have not lost a single order, and the net profit is more than 4 million. These operations of Boiling Eagle do not rely on indicators, but are based on the market's "missed sentiment" and the cognition of the "law of listing". However, it is worth noting that when doing mainstream currencies such as Bitcoin and Ethereum, Boiling Eagle will operate with the market.

"My trading has no system and is completely adaptable. I can respond to any market condition and can use any type of stop-loss method." Aoying is very flexible in trading and is very cautious with the use of leverage; the actual leverage is far lower than the nominal leverage. The 10x leverage shown on his trading orders is just surface data; the actual leverage is about 5x, and he gradually builds up his position, resulting in an actual operation of about 4.5x. Moreover, as the capital increases later on, Aoying's leverage actually decreases because lower leverage allows him to "take more risks and stay steadier," forming a positive cycle with increasing profits.

Old fans of Boiling Eagle should know that the first key transaction of Boiling Eagle is to go long BCH with 5 times leverage in March 2024, and rely on this order to achieve 10,000U from 3000U. At that time, Boiling Eagle was the first to observe the change in BSV, and judged that BCH might make up for the increase, and finally ate 2.7 times the return, and the account net value increased by more than 40%. Since then, he has taken turns attacking in the AI and MEME markets, from Watercoin to PEPE to CRV, with a stable winning rate and clear logic, rolling the account from 20,000 U to 10 million all the way. But in this process, except for the BCH order, which is five times, after boiling the eagle, it is basically used to open orders with three, two, double, and even 0.8 and 0.5 times, and finally completed the counterattack of the limit of tens of millions of dollars.

"What really makes the funds roll is logic, strategy, and execution, not leverage multiples; what truly creates the gap is cognition, not leverage multiples." said the Eagle Sharing.

5. Responsibilities of the "front end": Do not cut fan liquidity, will not actively disclose positions again.

"I don't cut everyone's liquidity because I open positions logically." Aoying admitted that all the cryptocurrencies he mentions are open and transparent, with no insider trading. Even if he is a "rat," he is an open rat. He never secretly enters the market and then shouts out trades, and the vast majority of his fans can often get in ahead of him. Many times, as long as fans see the trades he calls out right away, the returns may even be higher than his own, which is why he has gained a large following.

But now, the mentality of holding on has changed. "I found that some projects have started to treat me as 'liquidity for selling'. The overall market liquidity is too exhausted now, and any good event, once I publicly participate, many people might be left hanging at high positions. So now I am more cautious and don't want to do any more 'leading roles'. I now prefer to make money quietly, to work on my own logic, and if you are willing to believe, you can follow along; if not, that's fine too. I won’t actively disclose my positions anymore, because being public now is actually a harm to my fans."

The "logic" mentioned above is the "secret" that Ao Ying has talked about the most, and this way of thinking has accompanied his entire trading career. "Apart from constantly accepting new information, new events, and new policies, my trading method has hardly changed — I still use my own trading logic to make money." However, in stark contrast to Ao Ying, many people who are trying hard to learn are still losing money. Ao Ying believes that those who still haven't made money are not necessarily "on the wrong learning path"; the key is whether they have grown after suffering losses. If after losing, they are left with only a sense of "forget it," Ao Ying suggests that such people might choose to leave the market and perhaps never come back in their lifetime.

It is easy to make a lot of money, or the comprehensive quality of the individual is determined. It is necessary not only to have the ability to control risks, but also to have the ability to perceive the market. Especially when the most suitable market appears, you must be able to "dare to go down". Many of the powerful traders that Boiling Eagle knows, many of them are a wave: dare to go down and up in a round of market, and finally earn 10 million, 20 million, and 30 million. But it may also be just this time, and the second round of the market has not been caught after that. Therefore, in the most grasped time period, we must be decisive, do not hesitate, respect our own judgment, trust our own judgment, and then dare to implement it. When the market comes, you twist and pinch, then it's really gone. The most suitable character for trading is to dare to judge, dare to act, and combine knowledge and action.

"If you succeed, you are the one sitting here sharing; if you don't, then you continue to sit in the audience and listen."

6. Eagle Prowess Maxim: There will still be a 25% level pullback in the market, and then I will go long.

Discussing views on the future market and Bitcoin prices. The steadfast eagle stated, "I will never be bearish on Bitcoin." Currently, an extreme "deep bear" market is unlikely to occur, but he believes there will still be a 25% level correction in the future market. When the correction is in place, he will still choose to go long.

For those novice users who want to "turn the tables," Aoying suggests not to trade with debt, not to gamble on fluctuations in the secondary market, but to directly participate in project construction, and wait until they have accumulated a certain amount of capital and understanding before considering "swing trading" in the futures market. In addition, he also suggests that novice users can pay attention to practical traders such as Chuanmu, Formula, Maomao the Great Demon King, Teacher Tony, and Dragon King. Their managed funds basically start at 50 million, with many even exceeding 100 million. These individuals are truly worth learning from, and their content is very insightful and easy to understand.

From a debt-ridden Degen to a legendary trader earning tens of millions a year, the experience of enduring hardships is full of drama and contains profound trading wisdom. His story and insights hold great reference value for everyone navigating the trading market.

Disclaimer:

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