Congratulations to gmoney for winning the Synthetix trading competition, beating 99 other traders to the $1m prize.
Smart people, those Patrons.
Who will win the $1m prize during Craterun?
couple of things about the comp, maybe it helps you in season 2:
very hard to trade in the lead. you're naturally inclined to play defense, and adds an extra layer of complexity than just "make money" bc you have to make more money than the competition.
ending was very stressful because of the randomness of markets in the short term. one headline from trump or central bank and we could've reversed quickly and hard.
game theory behind the comp prob changes in season 2, as the discrepancy between 1st place and everything else payout wise isn't as big.
also a few people asked about thought process behind the short yesterday, even though there was already an extended downmove on the chart:
1. headed into nvda numbers @iouttradeyou was already max long, so i tried to hedge out some exposure to get long with him. my mistake was not hedging out enough.
2. my thesis was that nvda direction on thursday would dictate all risk assets, particularly btc. listened to the call. jensen and team obviously bullish. from recaps i read the earnings and guidance were great, not incredible, and felt stock was priced for incredible, esp with jitters last few weeks around accounting.
3. started shorting a lil more into low volume upmove. think i got up to 50x short. I think at some point overnight @iouttradeyou started hedging against me, but I think he was more long biased, which gave me the opp to have the comeback.
4. woke up early to read wall st recaps on nvda numbers. read like it could fade and close the gap imho. looked for spots to add more size on crypto weakness.
5. nvda gapped up and traded the opening range for a bit then started to fade and clobbered all risk along with it. this gave me the lead that i was then able to protect headed into the end of the comp.
think season 2 will prob not be using as much leverage as first is 200k, 2nd is 100k, 3rd 100k, so you're still incentivized to play along and not YOLO if you're far behind. GL to all
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