If you were given 100U for free in a bull market, what would you buy?

One day in March, a screenshot of the editor of Rhythm was circulated in the work group, mocking him for not having much money (yes, boss, I really don’t have money), and then there was the first 100U trading competition of Rhythm. I dared to ask the question in the picture, and signed up for the trading competition with a happy mood.

The most lacking thing in a bull market is anxiety. The behavior of the 100U war gods and shouting teachers who only show the yield but not the position is disgusting, but this time, the boss asked for full follow-up reports on the 100U trading competition, and no fraud was allowed. It lasted for 20 days, and then there was this article that may slightly relieve your anxiety. The following figure is the total data of the results of this competition. There are 4 people with more than 10 times of income, and more than 50% of people have negative income, but the average return rate has reached 463%.

The magic of the market is that even if a group of people are given the same starting point, each person will still get a different script. Some people have a liquidation on the first day, and some people are steady and rely on spot to outperform the whole market. With this free 100U, many people's first thought is to hold it, because it is very likely to outperform most people and win, but obviously the ending is not like this; some people's first thought is to open a contract, ten times a day, and three weeks of reverse wind, but the contract party is not the biggest winner of this game.

Meme craze is just in time

When the trading competition just started, the market continued to fall, but the whole market was immersed in the atmosphere of meme.

0xcxr ranked first on the first day by trading contracts, but then faced a liquidation. The worst thing for this player was that he fell before the meme craze hit. On March 14, the second day of the trading competition, BOME came out. 0xlogic (also the god of war in this competition) first released the contract of BOME in the group. Subsequently, BOME transformed from an unknown meme to a regular army listed on Binance in the volatile market, completing the end of a project in three days.

Many players caught up with this wave, which caused a gap in investment returns. When asked why 0xcxr did not withdraw the money from the contract to buy BOME on March 14, the answer was that it was too troublesome and "the meme always comes and goes and it is hard to grasp it." The next day, when the entire market fluctuated and fell again, 0xcxr's contract was liquidated. But it was also on this day that 0xhao earned a return of more than 250% by buying BOME before announcing the results of the day.

BOME continued to exert its strength, and the assets of some players increased by 35 times compared with the initial funds. Under the pre-sale payment boom at the time, Slerf ushered in the second wave of meme climax with a very dramatic opening, making some group members rich again.

But 0xlogic did not buy SLERF, "I think this narrative is not good, there will always be only one BOME, this project has legal disputes, and it is destined not to be on tier 1", he only recognized the leader and did not choose to transfer the BOME profit funds to SLERF. At the same time, on the evening of March 18, 0xhao's assets had risen to a maximum of 8000u because of SLERF, and group members worshiped it.

"The value of value coins is all imaginary, and being interesting is the core. Bitcoin itself is a meme, and the so-called value coins are all boasting after they make money." 0xhao's understanding of meme is different from 0xlogic. 0xlogic firmly holds BOME until it finds the next Alpha target, but 0xhao changes its position to buy SLERF and then rushes to other meme coins.

Unfortunately, its assets suffered a sharp retracement at this stage. "It is definitely not because of any advantage in trading technology to be able to increase 80 times in a few days. It is completely the market's awesomeness and good luck. The drop from 8,000 dollars to 600 is the perfect display of trading skills." 0xhao recalled his mental journey in those days and said, "I didn't realize that my mentality was so bad until I bought high and sold low several times."

But he has no regrets about choosing to embrace meme. Why do people like to play meme in this bull market? Why is meme so popular? The fact is that playing meme will make you rich. Based on this point of view, 0xhao said frankly, "Fortunately, this is only $8,000, not a larger position. Psychological quality has always been my shortcoming. In the last bull market, several operations were deformed because of my mentality."

Respect for the market is a rule that people who get the script must abide by. But everyone faces different choices. 0xlogic's choice is to only take the leader. "My habit is to stay still after building a position at the bottom, and never wave. Of course, if you encounter a particularly awesome project, such as BOME, you can continue to increase your position if the trend meets expectations." BOME did not have the ups and downs of SLERF, so 0xlogic's position was less affected.

With the end of the meme coin, 0xlogic turned its attention to the AI track, and DEAI was the "unmoving" target it chose after BOME. It was also because of DEAI that its balance steadily increased until the end of the trading competition and 0xlogic won the championship. Whether it is meme or value coin, "waiting" + "holding" is the key to its victory.

"If I opened a contract"

There are various styles of trading ideas circulating on social platforms, but there is always a rule of "Don't touch the contract".

And seeing the trend of token prices, it is hard for people not to imagine "If I opened a contract here..." This time, the free 100 U can make this "if" come true.

There is no need to wait for unknown memes, 0xdai chose the contract and took its fate into its own hands. Before the trading competition began, 0xdai had been observing WLD for a long time and had several successful experiences. The 100 U fund gave 0xdai a high courage. In the week-long volatile decline of WLD, 0xdai used the 75-fold contract band to go long and short WLD, allowing her 100 U fund to double 7 times in 4 days.

Memes are rare, but volatility is constant. Contracts have allowed 0xdai to reap more than 700% of the gains from a maximum increase of 20%. If the initial choice of contracts over memes was due to the pain of gas fees, this precise long-short WLD has greatly increased 0xdai's confidence in contract technology. Looking back, it seems that every step is clear.

0xdai stopped when it saw the good, and after a day of rest, it aimed at Bitcoin.

According to 0xdai's analysis, Bitcoin's volatility prediction is more reliable than that of altcoins. After all, in a bull market, no matter how much the decline is, it is a "correction." "I thought that BTC was rising so well, maybe I could end the short-term and fast operations and get long-term benefits", so I chose to open a long position in Bitcoin at $66,000 on 0xdai, but Bitcoin fell below $63,000 that day, and the 10% drop ended 0xdai's contract dream. "My feeling is that the money that came with the wind was blown away by the wind."

The story of 0xdai is a common experience for many people who play contracts, with frequent fairy operations and eventually zero. However, in this trading competition, there were also several players who got out of the contract unscathed, demonstrating the contract trading experience of "making money with contracts depends on luck, and keeping profits depends on ability".

0xcz, who had hardly touched contracts before, chose to "open a short Bitcoin directly" after getting 100U, "If I win, I win, if I lose, I'll just cheer you up."

0xcz is the only one who only trades contracts on BTC. After 0xcz's short position in Bitcoin was successfully ambushed, he chose to stop profit after doubling, despite the market's expectation of a Bitcoin correction. After closing the contract, Bitcoin fell for two consecutive days, and he did not enter the market again. People who operate contracts always imagine what would happen if they held on at the time, but 0xcz thought clearly, "I think that profit is enough for me, and I only care about whether my money has grown."

For a few days after closing the position, 0xcz did not make any further operations. 0xlogic, whose investment orientation shifted from meme to AI, posted a message in the group that an AI project DEAI was conducting LBP, and 0xcz chose to use these funds to participate in it. Then it was a plain and happy time. He hit the AI vent and the popularity of this project was good. After a week, his funds exceeded 1000 U.

In addition to cautious and contented people like 0xcz, there are also flexible and adaptable people like 0xnoc who can keep the contract profitable.

Contract/meme/value coin? It’s good to make money

0xnoc won the second place in this trading competition with a score of 1905.48U. For 0xnoc, contracts have become his necessary trading strategy. "When will I turn over if I don’t play contracts, brother?" Initially, 0xnoc's 100U jumped between contracts of different tokens, but even if the contract strategy was chosen in the right direction, the profit was still difficult to surpass the explosive meme under good risk control.

After 1/3 of the race, 0xnoc, who missed BOME, began to complain, "Why bother opening a contract?" Then SLERF appeared in the message flow, and 0xnoc quickly bought it, saying, "Value investment is a waste!" After SLERF, 0xnoc's 100U finally tripled.

0xnoc understood that SLERF's growth expectations would not exceed BOME, so he did not expect to find the regret of missing out on SLERF. He tripled his profit in one day and returned to the contract.

Then, the meme was no longer popular, and the uncertainty of the market increased. "When the income of local dogs can double the principal to a good profit, you can't rush anymore, it's time to defend the country." 0xnoc changed all his assets to BNB. When he saw 0xlogic sharing the new "wealth code", 0xnoc followed closely. He captured the information and entered the market quickly, and stopped profit and switched targets in time. After changing several targets, his hundred U tripled and then doubled again.

After "passing through the hundred coins", 0xnoc is one of the few players whose assets have grown steadily and have not fallen sharply. But quickly stopping profit and changing battlefields is not 0xnoc's real trading rule. Only flexibility and sobriety can make you a winner. "When you think in your mind, 'Is it okay to buy some of this?', your hands must start to operate, don't hesitate."

At the end of the competition, 0xnoc also had a promising target, and this time he chose to hold it for a longer time.

The last line is the transaction record of 0xnoc

Conclusion

Back to the question at the beginning, if you are given 100U for free, what would you do?

"There is no shortage of opportunities in the crypto field", this is what many people have heard. But some people make money and some people lose money. In the years of rapid development of Web3, stories of going from small capital to wealth freedom often occur, and cases of falling from high positions and returning to zero overnight are not uncommon. In the dark forest, how can we grasp the wind?

In the trading competition that lasted less than a month, the average return rate of the players exceeded 4 times. Of course, the mentality of operating 100U is very different from that of operating 1 million U, but people with different principals can find their own shadows in these players. At first glance, high returns in the short term depend on the luck of each player, but those who can catch the "money blown by the wind" and make it bigger and bigger have similar trading principles.

"Betting against uncertainty" is a consideration that cannot be avoided in every transaction. Most of the high-multiple profitable operations that emerged this time first bet on popular sectors with consensus gathering, such as meme, AI and popular public chains, and did a good job of position management and mentality construction, and chose to stop profit and withdraw in time or hold it with diamond hands based on the information obtained.

On the road to asset appreciation, effective information and a stable trading mentality are more important motivations than principal. Keep up with market news, grasp the flow of funds, and follow the trend. As 0xlogic, who won the championship of this trading competition with a profit of 43 times, answered when asked about his mental journey, "Live in peace and cultivate yourself to wait for fate." Do everything you can, and then wait for the wind to come.

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