See @ 0xPickleCati's article High frequency intraday trading is structural fraud, "said Xiong Wen, I also saw her trading profit curve data on Binance's live trading platform, Basically in line with the thinking she described in the article: By making a few transactions every quarter, you can get through. Do more than 10 transactions per week? High frequency has only one ultimate result. Destruction " But many people are paying attention to my actual performance, especially after the recent public release of the API, I know my trading orders should be an average of 10 or more per week, So is it completely different or even conflicting with the thinking she mentioned? On the surface, it may seem like it is, but if you delve deeper, you will find that it is not entirely true. Comparing the profit and loss curve with the capital curve: Figure 1 and Figure 2 show the profit and loss curves of the two, I have taken into account the leapfrog profits of both since the 2023 round, Mark 1, 2, 3, and 4 on the curve, It can be seen that the two are very similar in structure, Especially with 1-2-3, it is evident that the same BTC main uptrend was achieved through heavy positions and long positions (The first three 100 God Rising Waves since 2023), to be obtained. And at other times, whether it's PickleCati's' low-frequency thinking ', Still under my 'high-frequency trading', On the profit and loss curve, there is a manifestation of 'garbage time'. In terms of details, even in Figure 2, After obtaining a large profit through 2, before the arrival of 3, The captured volatile gains are quickly reflected in a symmetrical manner on the Christmas tree If they are two completely different ways of thinking, (Even the trading targets may be very different) Why are the profit and loss curves so similar? Before answering this question, let's take a look at Figure 3 and Figure 4, which show the funding curves for both, In Figure 3, PickleCati's funding curve is indeed as she said, After completing 1-2, withdraw the coins and leave the battlefield first, After completing task 3, withdraw your coins and leave the battlefield first, After completing step 4, withdraw your coins and leave the battlefield first. (There is another small 5 that is the same, so it will not be marked) In Figure 4, on my funding curve, except for withdrawals made from 2021 to 2022, After February 2022, especially after 2023, I have never withdrawn coins or left the battlefield, From the previously released API data, it can also be seen that from 1-2-3-4 to today, During this period, high-frequency orders were mostly executed "10 times or more per week". Returning to the previous question, Why does one person advocate that 'intraday high-frequency is a pit of endless suffering' The other person has been fulfilling orders almost 365 days a year, The funding curve also reflects this difference, They are also all manual transactions, But it shows a similar profit and loss curve? The key to the answer lies in how to define 'one transaction', My understanding is: PickleCati said, 'Do it one time.', It is a heavy position transaction, Using games as an analogy, the heavy punches and skills in Street Fighter, The four skills in DOTA LOL King of Glory that consume cooldown time. Her contract account style is: Outside the battlefield - waiting for observation opportunities - seeing opportunities - recharging and entering - releasing skills - withdrawing coins and leaving to go outside the battlefield. Looking at Figure 3, more than 70% of the time, her account funds are at an extremely low level (out of battlefield observation mode), and if you look deeper and more closely, the lower the level, the more visibly it changes. (Related tweet here: https://((x.com))/code/status/1870780064553676901) And although I have been placing and closing orders for 365 days, But the contract account style that has been iterated in recent years is: Always on the battlefield - using sleazy light punches/regular attacks to fight in the jungle, replenishing sword lines, harassing enemy heroes - feeling opportunities - unleashing skills - continuing to use sleazy lines in the jungle area of the battlefield I don't know if you can experience two different ways when you see this, But what is the reason for the different paths leading to the same goal on the profit and loss curve? Most people's high-frequency trading lacks sufficient awareness to distinguish between assigning "regular attacks" and "skill deployment", Attempting to practice by consistently neglecting major skills: I don't actually know that I am pursuing an objective mathematical level with an outrageous upper limit of returns, Because if skills are constantly amplified and the chances of winning are maintained for a long time, mathematically it is the expected astronomical output result. Those who have played the games mentioned above know that the cost of unleashing skills is to expose flaws to the enemy, Sometimes, not easily amplifying skills is actually a form of nuclear deterrence. In the field of trading, especially in Crypto trading, Because the average person is generally allergic to the perception of market changes within a unit of time, So many people should know more or less, or subconsciously, that: As long as you are less likely to magnify your skills than your original self, In fact, it is what everyone calls' patience ', It is already a competitive advantage edge that optimizes itself relative to the average level of competitors (Related tweet: https://((x.com))/code/status/1989983859640033644) The same is true in competitive sports, where large movements mean large forward and backward shakes, significant physical exertion, uncontrollable hard straight time, and so on .. Skills and big moves should be left to be judged after accumulating experience over a long period of time, A small time window worth taking risks, a time window when the opponent's market/market shows weaknesses, The BTC 100 day cycle that I repeatedly mentioned in my previous tweets is one of the auxiliary dimensions that reminds myself and everyone to withdraw and release （https://(((x.com)))/coolish/status/1979124511757992194） The above is only a discussion on the pursuit of obtaining excess returns in the face of market fluctuations.