In a recent episode of Trader Talks hosted by OKX brand manager Mia, veteran trader Ao Ying Capital opened up about his journey from financial struggle to achieving over $4 million in annual returns—transforming an initial $3,000 investment into a multi-million-dollar portfolio through disciplined crypto trading.
His story isn’t one of overnight success, but rather resilience, evolving market cognition, and the relentless pursuit of edge in high-volatility markets. From early losses and debt to mastering event-driven strategies and multi-million-dollar single-coin wins, Ao Ying’s path offers valuable insights for traders at every level.
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Learning Trading the Hard Way: Community Over Courses
Ao Ying began his career as a web product manager. His exposure to Web3 in 2020 sparked curiosity, and by 2021, he dove into futures trading with limited capital—allocating just $3,000–$5,000 from his monthly income of around $10,000 RMB. Like many retail traders, early results were disappointing: more losses than gains.
He didn’t follow a formal curriculum. Instead, his education came from real-time observation of active traders, joining online communities, and learning through trial, error, and mentorship. He never systematically studied technical indicators. His method? Imitate, ask, execute, and pay the tuition.
“Most people learn trading the same way I did—by watching others, asking questions, and making mistakes. There’s no shortcut to experience.”
This grassroots approach built practical intuition over theoretical perfection—a foundation that later proved more valuable than any indicator-based system.
Trading Is Not About Indicators—It’s About Cognitive Edge
Ao Ying emphasizes a crucial mindset shift: trading is not an indicator game; it’s a cognitive battle. Success comes not from complex charts but from superior understanding of market dynamics and emotional maturity.
He credits his breakthrough to capturing three major 2024 trends: AI tokens, meme coins, and the resurgence of Bitcoin ordinals. But before these wins, his account consistently plateaued at around $100,000—unable to break through due to psychological barriers and poor risk management.
When asked how he managed trading under debt pressure, Ao Ying was candid: “You just endure.” Most large drawdowns stem from refusing to cut losses. Under financial stress, decision-making warps. Discipline collapses.
“If you’re not executing stop-losses and take-profits rationally, it’s because you haven’t lost enough yet.”
Only after hitting rock bottom—facing total financial wipeout—did he adopt rigorous discipline. Every trade became deliberate. Every decision followed a plan.
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Why He Stopped Using Most Technical Indicators
While Ao Ying once experimented with double moving averages, EMA crossovers, Fibonacci retracements, Elliott Wave theory, Dow Theory, and Turtle Trading rules, he now relies primarily on price action (naked chart), moving averages, and volume.
“Indicators can help refine entry points,” he explains, “but they won’t make you rich. Only your market understanding can do that.”
He points out that while some strategies show >55% win rates in backtests during specific conditions (e.g., Bollinger Bands in ranging markets), they fail miserably in trending environments. Context matters more than signals.
Instead of chasing indicators, Ao Ying focuses on event-driven analysis:
- What’s driving the current market?
- Is this narrative sustainable?
- Where are we in the price cycle—high or low?
- If it’s event-based (e.g., ETF approval, halving), will the momentum last?
If not? He prepares for reversal trades at key levels—even going short when appropriate.
The Real Drivers of Growth: Logic, Strategy, Execution
Many small traders debate whether to go all-in or play it safe. Ao Ying says the question misses the point. What matters most is developing a repeatable process—a personal trading logic rooted in consistency.
He recommends using no more than 5x leverage, arguing that lower leverage leads to better long-term results:
- You hold positions confidently.
- You cut losses without hesitation.
- You let winners run.
This creates a positive feedback loop: smaller risk per trade → greater emotional control → higher compound growth.
“Your account grows not because of leverage, but because of compounding logic and execution. The real gap between traders? Cognitive depth—not margin size.”
Never Bet Against Bitcoin: A Long-Term Advantage Asset
Ao Ying maintains a firm stance: he never takes a long-term bearish view on Bitcoin.
While he may short BTC in specific setups, he sees it as a structural winner driven by institutional adoption. With firms like MicroStrategy accumulating relentlessly and U.S. institutions showing consistent net inflows, he believes extreme crashes (like past 80% drops) are unlikely.
The recent pullback from $110K to ~$70K aligns with historical retracement levels (~25–30%), which he views not as collapse but healthy consolidation.
He expects BTC to rise steadily—not in a straight line—but through cycles of accumulation and sideways movement. For long-term holders, conviction is key: buy during dips, even when fear dominates.
“Governments are buying. Institutions are buying. If you believe in this trend, you hold—and add.”
With pro-crypto policy momentum in the U.S., especially under current political leadership, Ao Ying sees sustained tailwinds ahead. While corrections will happen, they represent strategic entry points, not reasons to exit.
How Small Traders Can Break Through
For retail investors starting with limited capital, Ao Ying offers unconventional advice: don’t focus solely on trading markets.
Instead:
- Avoid trading with debt—it distorts judgment.
- Engage in early-stage projects (Tier 1)—contribute to blockchain ecosystems directly.
- Build capital and understanding first, then consider futures or swing trading.
By participating in project development or ecosystem growth (e.g., staking, governance, early testing), traders gain deeper insight—and often early access to undervalued assets.
Once knowledge and capital grow, entering derivatives markets becomes less speculative and more strategic.
“When your cognition improves, your leverage naturally decreases. You stop chasing 10x–20x gains because you understand risk.”
You begin managing nominal exposure wisely. Losses stay contained. Profits reflect insight—not luck.
Can You Learn to Win in Futures Markets?
Ao Ying believes success in crypto futures has little to do with formal education or paid courses. Many top earners are self-taught “street fighters” who developed unique edges—not through theory, but through survival.
Common traits among winners:
- Persistence
- Courage
- Strong market feel (“tape reading”)
They may lack formal frameworks but excel in specific areas—like catching explosive moves—and know when to stay out.
“Everyone pays tuition in this market. The difference? Some learn from losses. Others just quit.”
If a loss leads to reflection and improvement, it wasn’t wasted. But if it breeds defeatism (“I’m not cut out for this”), stepping away might be wiser.
Remember: crypto offers alternatives beyond trading—yield farming, arbitrage, low-risk alpha generation. And trading amplifies both strengths and flaws. Over-leverage or impulsive behavior? The market will punish them severely.
FAQ: Frequently Asked Questions
Q: Can beginners replicate Ao Ying’s success?
A: While results vary, beginners can adopt his principles—start small, focus on learning, avoid debt, and prioritize process over profit.
Q: What’s the biggest mistake new traders make?
A: Overtrading with excessive leverage while lacking a clear strategy or emotional control.
Q: Does Ao Ying still use stop-losses?
A: Absolutely. He considers risk management non-negotiable—even more important than entry timing.
Q: Is Bitcoin still a good long-term hold?
A: Yes. Institutional adoption and macro trends support BTC as a long-term advantage asset despite volatility.
Q: Should I trust trading courses promising quick riches?
A: Be skeptical. Real skill comes from practice, reflection, and experience—not certifications.
Q: How important is psychology in trading?
A: It’s everything. Markets test your patience, discipline, and self-awareness daily.
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The Winning Mindset: Fast When It Counts
Ao Ying describes elite traders as those who act decisively when opportunity strikes—“one-wave” players who capture massive moves in short timeframes.
In one stretch, he rode Ethereum’s four-day rally and extended momentum phase—compounding his position over ten days to achieve 20x–30x returns.
His mantra?
“Fast is fast. Slow is slow.”
Hesitation kills opportunity. When conviction is high, you deploy capital boldly—but within risk limits you can afford to lose.
Success isn’t about recklessness—it’s about trusting your analysis and executing without doubt.
Ultimately, the ideal trader profile combines:
- Risk awareness
- Market sensitivity
- Decisiveness
- Alignment between belief and action
That’s the true core of profitable trading: cognitive clarity + fearless execution.
Disclaimer: Cryptocurrency investments are highly volatile and carry significant risk. You may lose your entire principal. Always conduct independent research and assess your risk tolerance before trading.