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

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

What is most lacking in a bull market is anxiety. The behavior of BaiU warriors and shouting teachers who only show their yields without mentioning their positions is abhorrent. However, in this BaiU trading competition, the boss required full tracking and reporting, and no fraud was allowed. This article may slightly relieve your anxiety after 20 days. The figure below is the total data of the results of this competition. Four people have more than 10 times the 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 are liquidated and have zero returns on the first day, while others are steady and rely on spot to outperform the whole market. With the 100U obtained for free, 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 a three-week comeback, but the contract party is not the biggest winner in this game.

Meme fever is here

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

0xcxr ranked first on the first day by trading contracts, but then he was liquidated. 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, "Memes always come and go, and you can't grasp them." 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 make progress, and some players' assets increased 35 times compared to their initial funds. In the pre-sale boom at the time, Slerf ushered in the second climax of the meme 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 only be one BOME. This project has legal disputes and is destined not to be on tier 1." He only recognized the leader and did not choose to transfer the profit from BOME 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 bragging 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 after 0xhao switched positions and bought SLERF, it rushed into other meme coins one after another.

Unfortunately, his assets suffered a sharp drawdown during this period. “The 80-fold increase in a few days was definitely not due to any advantage in trading technology. It was completely due to the awesome market and good luck. The drop from $8,000 to $600 was the perfect display of trading skills,” 0xhao recalled his mental journey during those days and said, “It was only after a few attempts of buying high and selling low that I realized how bad my mentality was.”

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

Respect for the market is a rule that those 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 put after building a position at the bottom, and never trade in waves. Of course, if I encounter a particularly awesome project, such as BOME, I can continue to increase my position if the trend meets expectations." BOME did not experience the ups and downs of the market like SLERF, so 0xlogic's position was less affected.

As the meme coin came to an end, 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 rose steadily until the end of the trading competition and 0xlogic won the championship. Whether it is a meme or a value coin, "waiting" + "holding" is the key to its victory.

If I open a contract

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

Looking at the price trend of tokens, it is hard for anyone not to imagine "If I opened a contract here..." This time, free 100U can make this "if" come true.

Without waiting for unknown memes, 0xdai chose contracts and took her fate into her 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 level of courage. During a week of volatile decline in WLD, 0xdai used the 75x contract band to go long and short WLD, allowing her 100 U Fund to double by 7 times in 4 days.

Memes are rare, but volatility is constant. The contract has allowed 0xdai to reap a profit of over 700% 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 and short WLD has greatly increased 0xdai's confidence in contract technology. Looking back, it seems that every step is clear in mind.

0xdai decided to quit while it was ahead and after a day’s rest, it set its sights on BTC.

According to 0xdai's analysis, BTC's volatility prediction is more reliable than that of Altcoin. After all, in a bull market, any drop 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 was brought in by the wind was blown away by the wind."

The story of 0xdai is a common experience for many people who play contracts, with frequent magical operations and a return to zero in the end. However, in this trading competition, there are also several players who have escaped from the contract unscathed, demonstrating the contract trading experience of "making money from contracts depends on luck, and keeping profits depends on ability".

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

0xcz is the only person who only trades BTC. After 0xcz successfully ambush Bitcoin short orders, he chose to take profit after doubling, even though the market still expected Bitcoin to fall back. 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."

In the 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 the funds to participate in it. Then it was a peaceful and happy time. He hit the AI ​​trend, 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 their contracts profitable.

Contract/meme/value coin? As long as I can make money

0xnoc won the second place in this trading competition with 1905.48U. For 0xnoc, contracts have become his essential 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 compare with the explosive meme under good risk control.

One-third of the way through the race, 0xnoc, who missed BOME, started to complain, “Why bother opening a contract?” Then SLERF appeared in the news feed, and 0xnoc quickly bought it, saying, “Value investing is a waste!” After SLERF, 0xnoc’s 100U finally tripled.

0xnoc knew that the growth of SLERF was not expected to exceed that of BOME, so he did not expect to make up for the missed opportunity on SLERF. After taking profit three times a day, 0xnoc 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. This step is to "guard the country." 0xnoc changed all his assets to BNB. When 0xlogic shared a new "wealth code", 0xnoc followed closely. He quickly entered the market by capturing information, stopped profit and changed targets in time. After changing several targets, his 100 U tripled and then doubled again.

0xnoc has successfully escaped from high points several times in the midst of a hundred flowers. It is one of the few players whose assets have grown steadily without a sharp decline. However, quickly taking profits and changing battlefields is not the real trading rule of 0xnoc. Only flexibility and clarity can make you a winner. "When you think in your mind, "Is it okay to buy this?", you must start operating with your hands, don't hesitate."

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

Conclusion

Let’s go back to the question at the beginning. If you were given 100U for free, what would you do?

"There is no shortage of opportunities in the crypto space," this is what many people have heard. But when someone makes money, someone loses money. In the years of rapid development of Web3, stories of people moving from small capital to financial freedom are common, 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 and operating 1 millionU is very different, but people with different principals can find their own shadows in these players. At first glance, the high returns in the short term depend on the luck of the players, 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, such as meme, AI and popular public chains, and did a good job of position management and mentality building, and chose to stop profit and withdraw in time or hold on 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 the principal. Keep up with market news, grasp the flow of funds, and follow the trend. Just 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 your destiny." Do everything you can, and then wait for the wind to come.

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