Chen Guilin's trading notes: September 20, 2026 Last cycle, when I saw the knockoffs taking off, I really felt anxious, especially those that I had previously focused on, drawn pictures, and invested in research. If they took off without getting on the bus, I would feel so anxious that I couldn't sleep. For example, in this round of UNI, I drew 4, which happened to be on the eve of a breakthrough. For example, Ethereum: 0xa12cc123ba206d4031d1c7f6223d1c2ec249f4f3. After seeing @ 0xcryptowizard's tweet, I immediately went to take a look and prompted the community to pay attention; This round is much better, and the anxiety after stepping out of the air in the previous round made me understand a few things: 1. The anxiety after stepping into the air is purely negative EV, even if you have drawn pictures, invested in research, and even if you got on the car at that time? Do you dare to heavily warehouse? Can you hold it? Using the results to backtest the original decision was already wrong. 2. I have recognized my own ability boundaries. I am good at making contracts, expanding currencies, adding leverage, and taking a 5-10X position per position. For me, there is no big psychological burden, but I remember to take a bull to get a 15000U position. Whenever I have nothing to do, I have to look at my phone. Everyone has their own strengths and weaknesses, so why make things difficult for myself in areas where I am not good at, anxious and unable to make money. In the market of China Unicom, there is no advantage in counterfeiting. My opinion is that no matter how well the story is told, counterfeiting does not have a high priority in the entire market. AI is the main thread, pancake can only be considered a side thread, and shanzhai is even more of a side thread. The fate of this side thread is predetermined at the beginning, which is to supplement the main thread after developing into fruit; The strategy of trading back to the big cake after the rise of shanzhai is never wrong. The further the bull market goes, the higher the risk of counterfeiting; Are you talking about knockoff slow cattle? I don't believe it. History has proven that the cryptocurrency industry is a cyclical market, with Bitcoin having a cycle every few years, while the cycle of counterfeiting may already be a few months long. Some people can achieve A8A9 from Bitcoin in a few years, while others can become rich overnight from knockoffs. It may only take a few days. There is no luck or lack of luck, and there is no one who is awesome or not. It's just that fate is just right at that time. Personal ability boundaries, cognition, and risk preferences are different, so the investment decisions made will not be the same. What suits oneself is the best, but one thing is never wrong, which is to remember to rush when the market is good.