Trading Wisdom of KOL 0xSun: The Journey from Daily Notes to $20M $TRUMP Profit

By 0xSun

Translated and Edited by Zolo and Carine.W

Around 2 months ago, I (0xSun) earned over $20 million from the $TRUMP token, but I believe that all of this stems from my gradual accumulation of on-chain trading experience over the past three years. Below is my summary of this journey.

In the three years since I entered crypto space, aside from systematically reviewing and summarizing various projects on Twitter, I occasionally use note-taking tools for fragmented organization. Yesterday, I took some time to look back and felt that these experiences greatly helped me in finally executing operations on Trump. Here's a comprehensive summary to share with everyone, with some parts directly quoted from my notes:

Early Lessons from 2023

May 3, 2023 Don't seek absolute bottoms; don't worry about missing out on sales. The essence of "selling too early" is the fear of missing high-multiple opportunities, but the primary market is least afraid of high-multiple opportunities. The fear of selling too early applies to those who are slow to act due to information lag, as their choices are limited. However, in the primary market, this concern shouldn't exist. Capturing ten 10x opportunities is much easier than catching one 100x opportunity, and in the pursuit of the latter, you may likely lose your principal.

July 24, 2023 This issue has arisen more than once: in unfamiliar areas, such as investing hundreds of thousands in spot trading, I might have a 10-30% return but hesitate to take profits. In familiar chains, I feel that 5-10 ETH is already a heavy investment, but I can't hold on and fear losses.

August 31, 2023 Sei airdrop and Friend Tech: Quickly create usable technical scripts; response speed is crucial. Being slow by a day could mean missing out on 10x returns.

Shia: When judging if a meme coin is a suitable buy, consider the expected upside rather than simply judging by the multiple of bottom chips. Most meme coins will have lower chips than your buy position. Another reason is seeing discussions in several groups and feeling that the early opportunity has been missed. However, if the G2 owner issues a meme coin, it should be seen as a favorable signal similar to FUMO, which can ferment for several days. If you act based on rational judgment instead of being swayed by these two mentalities, you should be able to achieve profits in the hundred ETH range, as I excel at profit-taking.

September 3, 2023 Never deploy most of your capital in a very short time. Accepting smaller profits is fine, but not the risk of severe losses or liquidation. Also, in areas unfamiliar to you, avoid operating with overly simplistic logic.

September 4, 2023 Learn to cut losses quickly and cleanly. Don't expect to be right every time. If you make a mistake, the sooner you cut losses, the better.

October 12, 2023 Today, while playing cards, I realized that I prefer to bet based on my chip amount rather than the game dynamics. This raises a problem: my risk tolerance hasn't increased with my chip amount; rather, it has become more fragile.

October 24, 2023 Small opportunities might yield expected returns of 5,000-30,000 USD for little or no cost, with many and limited market capacity, thus lower risk; Medium opportunities could yield expected returns of 50,000-300,000 USD after thorough research, with significant investment costs and fewer opportunities monthly, but larger market capacity, balancing risk and reward; Large opportunities are often hard to seize even when presented, usually requiring a minority approach. One type is moderately invested but with extraordinary odds, while another is heavily invested but with reasonable odds.

Evolving Strategy in 2024

January 21, 2024 Reviewing two annual-level opportunities: Node Monkey and SatoshiVM. Projects capable of generating profits exceeding ten million belong to the annual level. Within a month, two such instances have appeared.

The shortcoming of Node Monkey was not researching thoroughly beforehand; I only realized post-investment that it was the first original 10k PFP on Bitcoin. Despite not knowing this, I still judged that 0.03 BTC was worth participating, but I didn't dare invest heavily. Ultimately, I invested 0.6 BTC and made about 3 BTC, a 10x opportunity that could accommodate over a hundred million in funds.

SAVM was even more ridiculous. After a week of attention and discussions with three friends a day or two before the launch, I missed the opening due to not noticing the timing. This was an opportunity that could yield ten million in profits in one day.

The mistakes made in these two projects were consistent: due to various reasons, I became lax in analyzing and paying attention to the projects. Although I only earned less, the opportunity cost is still a cost that should be avoided. For projects that are worth focusing on or that I believe in, thorough research is essential. I believe such opportunities will continue to appear throughout the year, averaging one every 1-2 months that can yield tenfold returns in a short time. Next time, I must seize them well.

March 28, 2024 This month's keyword is failing to take profits. New projects in the chain are always emerging, so staggered profit-taking is undoubtedly the optimal strategy. I have always practiced this well, but this month, I fell short mainly for two reasons: first, due to the insane profits from Bome, money seemed to turn into numbers, and I hesitated to take profits from hundreds of thousands in gains, which is definitely an erroneous mindset; second, the other two projects had reached my psychological sell price, but after just tweeting, they surged, making me feel reluctant to sell. In fact, there's no need for this mindset; if it's time to sell, just sell.

April 5, 2024 Being overly conservative is also a form of risk.

April 14, 2024 Study GCR. Within alt cycles, you should increase risk when the trend first reverses and gradually protect capital as time passes. People lose because they do the exact opposite: they are slow early and increasingly greedy over time.

This advice is crucial for both macro and micro perspectives. You should increase risk exposure when prices first rise and then gradually decrease it, not the other way around. Similarly, for promising meme coins, initially build a substantial base position, then operate later. I often find that I don't buy enough at the bottom, then add positions as prices rise, ultimately leading to losses.

Mid-Year Realizations

June 10, 2024 To summarize my recent chain operations, my biggest issues are insufficient positions and fear of losses, along with hesitation in the early stages and increasing positions later, leading to passivity. There were opportunities for several tokens to profit over 100,000 USD, but my total profit ended up being only 70-80,000 USD.

June 18, 2024 Having been in the circle for almost three years, I've been reflecting on the mistakes I often make. I must say, people are easily influenced by habitual thinking. I consider myself fortunate; I got into on-chain trading shortly after entering the space, initially engaging with small meme coins on BSC, later moving to NFTs. Both share the characteristic of having limited fund capacity but high numbers, allowing for small investments to accumulate over time.

Now, the situation has changed. On-chain projects often have pools exceeding a million USD, and due to the AMM mechanism, liquidity is very good. In contrast, except for the hottest altcoins in a few top exchanges, most have poor liquidity. However, the fixed mindset formed early on still subconsciously leads me to believe that on-chain projects aren't suitable for larger investments, and that larger funds should go to CEX for secondary trading. This has led to a disconnection; I'm skilled in the on-chain field, and current hotspots are also on-chain, yet I tend to be overly cautious, while I take heavier positions on exchanges.

Objectively, with my ability, taking on one-tenth of the risk and using one-tenth of the capital, I can achieve profits on-chain comparable to those from trading alts on CEX. The ratio of my bets between the two is clearly reversed. This is a flaw brought about by habitual thinking, but fortunately, this issue is gradually being exposed, and I hope to improve soon.

July 28, 2024 Neiro made several classic mistakes. My first reaction to this level of narrative was that there was a great opportunity, yet I hesitated to invest 600k, always overthinking due to various concerns. Perhaps because of community responsibilities, I tend to be overly cautious, influenced by the negative news surrounding the Trump conference. I felt it was a news item from 20 minutes ago, but there was no need to be overly cautious; much pressure is self-imposed. At this level of opportunity, early recognition is essential. Additionally, maintaining sensitivity is important; since it was 20 minutes ago, why not think about finding earlier PumpFun? These are operations that should be done subconsciously.

Late 2024: Refining the Approach

November 3, 2024 The on-chain market reached another peak in October. Overall, the results are decent, with profits around 500,000-700,000 USD. However, many operations were not executed well; I dived into areas I shouldn't have and sold too early. In simple terms, I believe that new narratives and leading projects in new sectors can create opportunities, such as Goat and Pnut, while imitations should be profit-taken promptly. If there are floating profits of around 200,000 USD on imitations, it's time to decisively take profits.

November 24, 2024 In this trade, what is the maximum amount I am willing to lose? The core of on-chain trading is to leverage small investments for big returns. Most of the time, I can accept that the invested principal may go to zero in exchange for 5-10x or even more profits, unless I am heavily invested at a high position, which is similar to secondary trading. The core of secondary trading is to minimize potential losses; I consider a trade invalid with a 5-10% stop loss in exchange for 20-50% potential gains. Before each trade, I need to consider how much loss I am willing to bear.

When feelings of "too easy, too smooth" arise, I should convert most of my positions into stablecoins. Experience shows that such feelings often indicate that the market has reached a phase where it is easiest to turn, and one can easily misstep due to overconfidence.

December 1, 2024 In the latter half of the month, I invested in several projects, approximately five or six meme coins, buying in the range of 100,000-150,000 USD. Increasing my on-chain position isn't the problem; the mistake was coinciding with a cooling on-chain market. In such a backdrop, liquidity and sentiment are hard to maintain, making it more suitable for early small bets rather than large positions chasing highs.

I believe my judgments on these projects were correct; the execution details were lacking. In large pools, if I want to increase positions mid-term, I need to pay attention to taking profits or cutting losses if there's no push behind it, rather than holding until zero.

Moreover, Hyperliquid is a project I have been very optimistic about for a year. It opened with buying opportunities below 3, but due to market orders, my execution price was 10% higher, and my limit order didn't fill. I planned to invest 500,000 USD but only bought 150,000 USD and sold too early, ultimately only making 70,000 USD. My operations on such a project were very poor; I should either invest more and take appropriate profits or hold longer if I bought less.

The Culmination: $TRUMP Success

After reviewing my journey, I realize that I spent over two years practicing, increasing my on-chain investment size, and implementing staggered profit-taking to prevent selling too early and profit retracement. Facing what most see as "uncertain opportunities," I finally achieved the results of the Trump operation, turning these accumulated lessons into a $20 million profit.

This journey demonstrates that systematic documentation, continuous self-reflection, and gradual strategic evolution can transform even cautious beginnings into significant trading success in the crypto space.

Source: Translated and edited from 0xSun's original publication on X, Mar 30, 2025.

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