Source: Binance
Original Title: From $1,700 to Millions: The Legendary Story of "Burning the Midnight Oil" in the Crypto
On July 18th, the seasoned trader "Burning the Midnight Oil" (@thankUcrypto), known for being "quick" and having sharp insights, entered the Binance Chinese Crypto Radio live stream, having a comprehensive conversation with host Sisi (@sisibinance) about his journey "beyond the rankings".
He once lost almost everything, reduced to just $1,700, but on the brink of despair, he managed to turn $10,000 into a million-dollar fortune; he also fell behind in a competition but quickly adjusted, dramatically pulling his returns from -40% to 150%.
His name is a legend among Binance copy trading leaders - "Burning the Midnight Oil". As a star copy trader on Binance for two to three years, he consistently maintains a full 1,000-person following and has recently been steadily topping the profit and loss rankings. Users following his operations have earned over $1.5 million in three months, helping many achieve their "pork knuckle" freedom.
Without an unbeatable secret recipe and not believing in trading mysticism. Many think those at the top of copy trading either have insider information or purely rely on luck. But after hearing "Burning the Midnight Oil's" story, you'll find he's more like a commander forged in the trading battlefield by fierce fire: patient, waiting for the right moment, striking with full force when signals appear, and most remarkably, always maintaining one more degree of calm reflection and a "fans first" safety net.
Looking only at the results, you might think this is pure talent crushing the competition; but if you know the late nights and dawn battles behind his account, you'll understand that the title "Copy Trading King" was slowly earned through countless painful lessons.
How did he climb to the top of Binance's copy trading rankings?
I. Hitting Rock Bottom: From Cloud Nine to Abyss
His trading journey started differently from most, tasting incredible success before rapidly falling into the depths.
He wasn't naturally cautious. Early on, doing short-term trades, he showed extraordinary talent, turning $3,000 into nearly $1.4 million, a 470x return, almost like a myth.
Unfortunately, the market's cold water hit quickly and harshly. Consecutive losses made his account shrink like an avalanche, reaching a low point of just $1,700.
"The root cause of such massive losses was insufficient stop-loss," he candidly said in the livestream. Back then, he often violated his own strategies, harboring hopes of "one more bet to turn things around".
"When you're truly at rock bottom, about to be completely wiped out, that's when the 'pain' becomes truly unforgettable. Only when people are truly 'pained' can many problems be genuinely solved."
This rock bottom moment, without dramatic plot twists, became the most crucial watershed of his trading career. It completely shattered his lucky mentality, teaching him to respect the market and approach each trade cautiously, strictly executing his plans.
II. Counterattack: Two Textbook-like Comebacks
When the market stripped away everything, leaving only discipline and clearer understanding, "Burning the Midnight Oil" cobbled together $10,000 and began his comeback journey.
His first turnaround was the famous BCH battle.
At that time, the Ordinals inscription sector was blazing hot. He keenly observed that after BSV surged 20%, BCH, also a POW concept coin that had broken key price levels, had massive potential for a follow-up rally. Without hesitation, he went long with 5x leverage, precisely capturing over 40% of the upside.
This trade helped him epic leap from $10,000 to $1 million, truly validating the importance of the trading discipline he developed through pain.
His second turnaround was a copy trading competition from April to May this year.
At the competition's start, constantly "betting on breakouts" in a ranging market, his ranking fell behind with returns plummeting to -40%. But instead of complaining, he immediately stopped to review, realizing his strategy needed a major overhaul.
He summarized several key insights:
Understand market essence: He suddenly realized April's market was a ranging market, not a unidirectional trend, and his previous "breakout" strategy was completely misguided.
Capture key signals: When ETH suddenly surged to $1,800, he judged the range was ending and a trend was emerging! He decisively entered, immediately pulling returns back to positive.
Read market sentiment: He observed that when ETH rose, many missed-out investors were anxiously holding USDT. He predicted these hot funds would definitely flow into Altcoins that hadn't yet rallied.
Decisively chase the rally: Based on this judgment, he and his followers aggressively entered Altcoins like MOODENG and PEOPLE, precisely capturing May's Altcoin mini-bull market, dramatically pulling returns from -40% to 150%.
One was capturing the certainty of mainstream coin breakouts, the other precisely targeting Altcoin follow-up rallies. These two battles perfectly embodied his core strategy: patient observation, calm waiting, full-force strike when the moment arrives.
III. Trading Philosophy: Speed is Instinct after Deep Consideration
Market opportunities are fleeting - what's key to catching them? "Burning the Midnight Oil's" answer is simple yet powerful: "Quick is quick".
His "quick" isn't reckless, but decisive execution built on deep thinking. He gradually abandoned blind faith in single technical indicators, forming a flexible approach centered on "risk control".
He compares trading to driving an F1 race car: "You must accelerate on straightaways, but definitely brake and slow down on turns." Bull markets are straightaways for bold, amplified gains; bear or ranging markets are turns where you must slow down and firmly control risks.
Leverage and position sizing depend entirely on market conditions. He might use 10x leverage on Bitcoin but strictly limit to 3-5x on volatile Altcoins. Where to set stop-losses, how to add positions, entering in batches - all operations revolve around one core principle: maximizing winning chances within bearable risk ranges.
He will also use Binance's "smart money" tool to find clues, observe large investor movements, and assist in judgment by combining capital flow and K-line patterns. These solid groundworks give him the confidence and basis for being "quick".
IV. The Basis of Following Trades: Never Earn Money from Fans' Blood and Sweat
In this field full of "zero-sum game" characteristics, the most admirable thing about "Brewing Eagle" is his consistent principle: "Not taking money from fans."
He admits that to give followers sufficient reaction time, even if the market has risen 20% in the short term, he will deliberately wait 1-2 more hours before exiting, letting fans exit first.
"I try not to take fans' money, which is the fundamental reason for profit and loss. If I earn from fans' liquidity, the reputation will be ruined, so I'd rather hold a bit longer myself."
This seemingly "disadvantageous" approach has won him massive trust. Some fans who followed with just $100 actually earned $21,900 in an Altcoin market, a 220-fold return. These real "chicken to phoenix" stories are the best payback for his trading philosophy and character.
This persistence not only helped him earn money but also won people's hearts, ultimately helping him top the Binance follow trade ranking.
V. A Survivor's Sense
Outsiders see "Brewing Eagle" with his top ranking halo. But he himself knows deeply that all this stems from respect for the market and careful risk control.
Discussing the current market, he believes "Altcoin bull market has just begun, and this is far from the last wave of the bull market", with potential pullbacks that are precisely opportunities to enter.
Sharing his recent operation, he discussed a SUSHI case: Among a bunch of DEX coins, he found SUSHI rose the least, with retail investors afraid to chase, which paradoxically indicated big investors hadn't fled. So he led fans to buy at low positions, successfully "killing" the short sellers, earning about $218,000 himself.
This case again demonstrated his sharp "survivor" market sense: finding opportunities where others panic, sensing risks before others become greedy.
He wasn't a natural winner. He has experienced massive losses, being at the bottom, and being doubted. But two incredible reversals put him at the platform's peak. More precious is that he didn't hide his experience, but instead shared it openly, turning these valuable insights into light for more people's journey forward.
VI. Experience Brewed Through Hardship
"Brewing Eagle" says his trading style was gradually polished through countless losing and winning practical experiences, with each person's system being different. But he firmly believes some principles are universal, such as trading by signals, with Bollinger Bands, moving averages, and K-line patterns being basics. Developing a habit of always setting stop-loss when opening positions is most important. Additionally, maintain a stable mindset, and never stubbornly hold on when losing money. These are simple principles, but easy to know yet hard to practice.
Regarding bull and bear strategies, Brewing Eagle believes, "You must step on the gas pedal on straight roads, and must brake in time before curves."
This sentence is his advice to everyone and the fundamental reason he has reached his current position.
Important Reminder:
This article is only for industry dynamic exchange and personal experience sharing, and is absolutely not investment advice. The views in this text only represent the author's personal perspective and are unrelated to the platform's stance. The content does not constitute any investment, financial, legal, accounting, or tax advice, nor does it represent recommendation, offer, or solicitation to purchase any digital assets (including stablecoins and Non-Fungible Token). Digital asset prices fluctuate dramatically with extremely high risks. Please carefully assess according to your personal situation before making investment decisions. For professional opinions, please consult your legal, tax, or investment advisor. Readers must understand and comply with local laws and regulations, bearing risks independently.
