Experience

Once I was just an ordinary high school student, with average grades. In my third year, I switched to sports and trained for less than a year. I thought switching to sports wouldn’t get me into college, so I considered repeating my year and taking the Spring College Entrance Exam again. I went to Nanshan in Yantai to learn vehicle maintenance. At that time, my Spring exam scores were consistently in the top 10 of my class, close to entering college. Teachers had high hopes for me, and I studied hard, but just a few days before summer vacation, my good friend was playing with funds, and I became interested. During the summer break, I opened a工商 bank card. I initially had no capital, so I had to ask my family for money. I asked for 20,000 yuan, and my mother gave me 10,000 yuan. That was the first money I received. Without hesitation, I invested all of it in an AI fund. The price fluctuated, and I realized I wasn’t making much profit. Then I started exploring stocks. At first, I was a novice hitting walls; I didn’t understand many terms. I bought stocks that mostly kept falling, then cut losses. Until I bought my first stock that made me money—ST Gao Hong. I bought it when I was in school. I remember I was on the bus looking at it; it was probably a limit-up stock. I was deeply impressed. Every day at school, I watched its stock price on the big screen, almost every day hitting the limit-up. I watched my account balance grow, earning more than my teachers. I endured every day, happy inside, until one day I couldn’t hold back anymore. The market surged 8% in one day, and at the end of September, the market exploded. The fire in my heart couldn’t be contained. I decided to call my family and tell them I wanted to trade stocks full-time. I couldn’t wait anymore. During the debate over whether I could get my phone on Saturday, my family agreed to let me trade stocks at home and also called my teacher to ask for leave. I happily returned home, opened my stock account, and started full-time trading. But full-time trading felt completely different from my school mode. At school, I hardly needed to operate; I just held. At home, it was easier to operate, and I became high-frequency. On October 1, my first trading day at home, the market hit the limit-up. I chased in. The next day, I was floating at a 9% loss. Luckily, I didn’t go all-in that day. My parents gave me a total of 150,000 yuan. In the first few days, I only had 130,000 left because I had already earned 20,000 yuan from stocks, so I hadn’t lost my parents’ money yet. I wasn’t too panicked. The second change in my assets was Hainan Airlines. It also rose daily, hitting 10 centimeters, but I didn’t hold on; I sold at 13 yuan. It doubled again after I sold. By then, my total assets had reached over 200,000 yuan. I then opened a stock account with low commissions. Everything went smoothly at first. At its peak, my profits nearly doubled, meaning I had over 150,000 yuan of my own money. But I was greedy. Human elasticity is huge. I wanted to keep using my parents’ money to benefit further, even though my father had already suggested I withdraw some capital. I didn’t listen. I told him I needed to keep rolling, aiming for a million. But things went against my wishes. In my third stock account, I lost all my gains—over 60,000 yuan. The first two accounts each earned over 20,000 yuan, but because I was spending heavily—buying a nearly 20,000-yuan computer—I was spending money recklessly. My balance was no longer enough to repay my parents. I then started trading futures. I didn’t lose much initially; I was still making money until I saw a Bian contract ad out of curiosity. I downloaded it, opened a contract, but mostly small losses, which didn’t affect my few ten-thousand-yuan principal. But that was the beginning of the abyss. I saw a mining project on their platform—PNUT, a squirrel coin fund. I believed it wholeheartedly, thinking it was my ticket to wealth. I exchanged all my money for USDT and invested in their platform. They drained all my funds, causing me to lose thousands of USDT, over ten thousand yuan. I was so foolish then, with assets that didn’t match my intelligence. I didn’t understand this circle well enough. That fund lost me nearly 50,000 to 60,000 yuan. My total principal was less than 20,000 yuan. I started gathering funds, trying to trade contracts on Bian. I didn’t understand much, just knew not to go all-in and to avoid misreading K-lines, thinking it was like stock trading. But in the end, I lost all my remaining funds. My parents gave me 150,000 yuan; I withdrew 20,000 yuan for myself, and the remaining 130,000 yuan was lost entirely. I couldn’t even withdraw 700 yuan at that time. During the New Year, I couldn’t lift my head while eating. My brother didn’t know about this, and he still doesn’t know I lost 130,000 yuan. I thought I was truly broke. That’s when I encountered AI Box, which I found on the platform. I chose to believe in it. I transferred 100 USDT from my dad’s account and bought their first token, Test. Based on my previous stock trading experience, I successfully turned 100 USDT into 5600 USDT—about 30,000 yuan. It was early in the year when my father just started working. I told him about it but didn’t mention that I had already lost all my previous money. That marked the beginning of my 2025 investment journey. I first encountered a CMC fund, also a fund-type scheme, but slow-cut. I invested 10,000 yuan, maybe got back a few thousand, but still lost money. Then I started trying contracts gradually. I shorted a π, but Bian released a message, and it surged. I lost another 5,000 to 6,000 yuan. A scammer on Twitter with a gold badge also scammed me out of a few hundred USDT. I was really naive then, sending Solana tokens to his address, expecting him to send back tokens. I believed it wholeheartedly. When I sent the tokens, he didn’t return them. Then another FFI token scam, which was a typical scam fund. I was mostly cautious about that scam, so I didn’t lose much. I made 500 USDT from defeating their tokens once. The rest of my profits I mostly gambled on with leverage, but the profits were minimal because they were scams. My remaining funds were almost wiped out in contracts too. By October 2025, all my money was gone. I started using my mom’s account, which had about 4,000 to 5,000 yuan. Once I got it, I lost it all. My parents started asking for the money back. I was already 100% unable to pay. Eventually, I ran away from home, stayed outside for three days, then returned home. I confessed that the money was gone. My parents probably guessed I had been scammed. At that point, I only had 300 yuan left, far from enough to repay the 130,000 yuan. That meant the entire 130,000 yuan was wiped out. I had no money, and my family had no way to help. They told me to find a job, but I didn’t want to. I used my remaining 300 yuan to make 7,000 yuan. But once I hit 7,000, my mindset changed. Those days, I was making money every day, but I also felt unhappy when I lost money. I started revenge trading. Sometimes, revenge trading could make you earn a lot in one wave, but it could also cause big losses. My balance dropped from 7,000 to 4,000, then to 5,000, then to 2,000, and when it reached 1,000, I decided to adjust my mindset. I withdrew all 2,000 yuan, gave 1,000 to my family, and used the other 1,000 to buy a gaming account. I played games intensely for nearly two weeks. Honestly, I felt bored of the game after just one day. I was addicted to K-line analysis. Not looking at K-lines made me uncomfortable. Then, Gate sent me a reward of 600 USDT for an AI competition. I earned over 700 USDT in total. I had money again and could trade. I withdrew over 100 USDT, bought things, and spent money. I should reflect that most of my losses came from short-term heavy positions on fake coins, driven by revenge psychology, trying to recover losses. But that only deepened my trap. High leverage caused my stop-losses to trigger with just a few points of fluctuation. I kept hitting stop-losses, wanting to win back, without thinking about how the market makers were planning. It was bound to explode. Eventually, I lost all 600 USDT again. Now, I can’t even find 10 yuan on me, and I still owe 200 yuan on Yayi Flower.