43 times the highest in 20 days, with an average return of 463%.

Author: Kaori

In a bull market, if you were given 100U for free, what would you buy?

One day in March, a screenshot mocking the lack of money of the author (yes, indeed, no money) was circulated in the work group, which led to the first 100U trading competition of the author. With a bold heart, the author signed up for this trading competition with the phrase from the screenshot, and registered for this trading competition with a joyful mood.

The thing that is most abundant in a bull market is anxiety. The behavior of the 100U war gods and signal teachers who only show the rate of return without disclosing their positions is extremely abhorrent. However, in this 100U trading competition, the author was required by the boss to track and report the entire process, and not to cheat. After 20 days, this article that may slightly alleviate some of your anxiety was produced. The following image shows the total data of the results of this competition. Four people had returns of over 10 times, accounting for over 50% of the people with negative returns, but the average return rate reached 463%.

The magic of the market lies in the fact that even if the same starting point is given to a group of people, each person will still have a different story. Some people went bankrupt and returned to zero on the first day, while others steadily ran ahead with spot trading. Holding this 100U that was obtained for free, many people's first thought was to hold onto it without moving, because this would likely outperform most people and achieve victory. Obviously, the outcome was not as expected. Some people's first thought was to open a contract, making ten times in one day, and turning the tide in three weeks, but the contract players were not the biggest winners of this competition.

Meme Craze at the Right Time

At the beginning of the trading competition, the overall market continued to decline, but the entire market was immersed in the atmosphere of memes.

On the first day, 0xcxr ranked first in contract trading, but then faced a liquidation disaster. The most unfortunate thing for this player was that it happened before the meme craze hit. On March 14th, the second day of the trading competition, BOME emerged. 0xlogic (also a war god in this competition) was the first to announce the contract for BOME in the group. Subsequently, BOME transformed from an unknown meme to a regular army listed on Binance in the volatile market, completing the entire project in three days.

Many players caught this wave, causing differences in investment returns to appear. When asked why 0xcxr did not withdraw the money from the contract to buy BOME on March 14th, the answer received was that it was too troublesome, "memes always come and go in waves, and it's hard to grasp." On the second day, when the entire market shook and fell again, 0xcxr's contract faced liquidation. However, it was also on this day that 0xhao, by buying BOME on the day the results were announced, gained a return of over 250%.

BOME continued to gain momentum, and the assets of some players multiplied by 35 times the initial capital. In the midst of the pre-sale frenzy, Slerf once again brought a second wave of meme craze in a very dramatic way, allowing some group members to become rich again.

However, 0xlogic did not buy SLERF, "I think this narrative is not good, BOME will always be unique, this project has legal disputes, and is destined not to reach tier 1." Firmly believing in the head, he chose not to transfer the profits from BOME to SLERF. Meanwhile, on the evening of March 18th, 0xhao's assets had risen to a peak of 8000U due to SLERF, and the group members worshipped him.

"Value coins are all imaginary value, interesting is the core, Bitcoin itself is a meme, so-called value coins start bragging after making money." 0xhao's understanding of memes is different from 0xlogic's. 0xlogic firmly held onto BOME until he found the next Alpha target, but 0xhao switched to buy SLERF and then successively rushed into other meme coins.

Unfortunately, his assets encountered a significant retracement at this stage. "Being able to multiply by 80 times in a few days is definitely not due to any trading advantage, it's completely due to the market being awesome and good luck. Dropping from 8000 dollars to 600 is the perfect demonstration of trading skills," 0xhao reviewed his thoughts during those days, saying, "It took a few times of buying high and selling low to realize how bad my mentality was."

But he does not regret embracing memes. Why does everyone like to play memes in this bull market? Why are memes so popular? The fact is that playing memes is the way to get rich. Based on this view, 0xhao admitted, "I am fortunate that it was only 8000 dollars, not a larger position. Psychological resilience has always been my weakness. In the previous bull market, several of my actions were deformed due to my mentality."

Respecting the market is the principle that people who have the script must abide by. However, everyone faces different choices. 0xlogic's choice is to only hold onto the head, "My habit is to build a position at the bottom and then not move, never short-term. Of course, when encountering particularly awesome projects, such as BOME, I can continue to add to the position as long as the trend meets expectations." Since BOME did not have the same large ups and downs as SLERF, 0xlogic's position was less affected.

As the meme coin phase came to an end, 0xlogic turned his attention to the AI track, and DEAI was the "not moving" target he chose after BOME. It was also because of DEAI that his balance steadily climbed, and 0xlogic won the championship when the trading competition ended. Whether it's a meme or a value coin, "waiting" + "holding on" is the secret to his victory.

"If I Opened a Contract"

The trading journey circulating on social platforms has various styles, but there is always a rule of "don't touch contracts."

However, when looking at the price trend of tokens, it's hard for anyone not to imagine "if I opened a contract here…" This time, the free 100U can make this "if" come true.

Without waiting for unknown memes, 0xdai chose a contract and took control of her own destiny. Before the trading competition began, 0xdai had been observing WLD for a long time and had several successful experiences in the market. The 100U fund gave 0xdai the courage to use a 75x contract to long and short WLD during a week of volatile and declining market conditions, allowing her 100U fund to multiply by 7 times in 4 days.

Memes are not always present, but volatility is constant. The contract allowed 0xdai to achieve over 700% returns from a maximum of 20% increase. If the initial choice of a contract instead of a meme was also a concern for gas fees, this precise long and short on WLD greatly increased 0xdai's confidence in contract technology. Looking back, it seems that every step was clear to her.

0xdai took the gains and, after a day of rest, set her sights on the big cake, Bitcoin.

According to 0xdai's analysis, the volatility prediction of Bitcoin is more reliable than that of altcoins. After all, in a bull market, no matter how much the decline is, it's always a "pullback." "I thought that since BTC was rising so well, maybe I could end the short-term quick operations and aim for long-term returns," so 0xdai chose to long Bitcoin at $66,000, but Bitcoin fell below $63,000 on the same day, ending 0xdai's contract dream with a 10% decline. "My feeling is that the money brought in by the strong wind was blown away by the strong wind."

Frequent god-like operations and ultimately returning to zero, 0xdai's story is a common experience for many contract players. However, in this trading competition, there were also several players who withdrew from the contract, interpreting the experience of "making money in contracts depends on luck, and holding onto profits depends on ability."

0xcz, who rarely touched contracts before, chose to "short Bitcoin directly" after receiving 100U, saying, "If I win, I win; if I lose, it's for your entertainment."

0xcz was the only one who only traded contracts for Bitcoin. After successfully ambushing a Bitcoin short position, despite the market's expectations for a Bitcoin pullback, he chose to take profits after doubling his position. After closing the contract, Bitcoin continued to fall for two consecutive days, but he did not enter the market again. People who operate contracts always imagine how things would have turned out if they had held on at that time, but 0xcz thought very clearly, "I think that profit was enough for me, I only care about whether my money has grown."

After closing the position, 0xcz did not make any further moves for several days. 0xlogic, whose investment focus shifted from memes to AI, shared news in the group about an AI project, DEAI, conducting an LBP. 0xcz chose to participate with these funds. Then came a calm and happy time, catching the AI trend, the project's popularity was good, and after a week, his funds exceeded 1000U.

Those who were able to hold onto contract profits, in addition to cautious and contented players like 0xcz, also included flexible and adaptable players like 0xnoc.

Contract / Meme / Value Coin? Making money is what matters

0xnoc achieved second place in this trading competition with a score of 1905.48U. For 0xnoc, contracts were already a necessary trading strategy, "When will I turn things around if I don't play contracts, brother?" Initially, 0xnoc's 100U jumped between contracts for different tokens, but even with a contract strategy that chose the right direction and managed risk well, the profit situation was still difficult to match the explosive nature of memes.

After one-third of the competition had passed, 0xnoc, who missed out on BOME, began to complain, "What's the point of opening a contract?" Later, when SLERF appeared in the news feed, 0xnoc quickly bought in and said, "Value investing is a waste of time!" After SLERF, 0xnoc's 100U finally tripled.

0xnoc understood that the growth expectations for SLERF would not exceed those of BOME, so he did not expect to make up for the regret of missing out on SLERF. He took profits of three times in one day and returned to contracts.

Subsequently, as the meme craze faded, the market's uncertainty increased. "When the income from Dogecoin can turn the principal into a good profit, I can't make reckless moves anymore, it's time to hold onto my gains." 0xnoc converted all his assets to BNB. When 0xlogic shared a new "wealth code," 0xnoc quickly followed suit. Swiftly entering the market to capture information and timely taking profits and switching targets, after switching several targets, his 100U tripled and then doubled again.

After "passing through the hundred coins," 0xnoc was one of the few players whose assets steadily increased without a significant retracement. However, quickly taking profits and switching battlefields is not 0xnoc's true trading rule. Flexibility and clarity are what make a winner. "When you think 'Is it okay to buy at this point?' in your mind, you must start acting, don't hesitate."

As the competition drew to a close, 0xnoc also found a promising target, and this time he chose to hold onto it for a longer period.

The last line is 0xnoc's trading record

Conclusion

Returning to the initial question, if you were given 100U for free, how would you operate?

"There is no shortage of opportunities in the crypto field," is a phrase that many people have heard. But where some make money, others lose money. In the fast-developing years of Web3, stories of going from a small capital to financial freedom have often occurred, and cases of falling from a high position to zero overnight are not uncommon. In the dark forest, how can one 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 with 100U is very different from operating with 1 million U, but people with different capital can find themselves among 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 brought in by the wind" and make it grow larger, have similar trading principles.

"Gambling with uncertainty" is a consideration that cannot be avoided in every trade. The high-profit operations that emerged this time mostly first hit the hot sectors where consensus gathers, such as memes, AI, and popular public chains, and managed positions and mindset well, choosing to take profits and withdraw in a timely manner or hold onto them based on the information obtained.

In the journey of asset appreciation, effective information and a stable trading mindset are more important driving forces than capital. Keeping up with market news and understanding fund flows, going with the trend. Just like 0xlogic, who won 43 times and the championship of this trading competition, when asked about his trading journey, he answered, "Stay calm and cultivate oneself to await destiny." Do everything you can, and then wait for the wind to come.

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