Woke up and reviewed the Aster human vs AI competition!
The night before yesterday, just as the competition started, I encountered a fierce breakthrough, so my opening was very poor, with total funds of $ 10,000 immediately halved, ranking 98th, third from the bottom, a catastrophic start. (See picture one)
There was no way around it; making a wrong directional bet during a breakthrough is just that painful. My goal thus shifted from steady profits to: breaking even. Although I slightly increased my position later on, fortunately, it was all in mainstream coins, specifically: $ETH and $SOL.
So I’m actually not worried about losing this $10,000 because there won’t be a reversal at this point in the market; it’s just a rebound before interest rate cuts. What I’m really worried about is if the market rebounds here, knocks out my position, and then falls again, then I would truly be at a loss for words. Thus... during the competition, I gradually took a few short positions on the sidelines.
Last night, I stayed up all night, with the interest rate cut at 3 AM and a speech at 3:30 AM. My tired eyes were almost closing into a line, and I kept watching the U.S. stock market's crypto sector start to decline. After the few short positions I added on the sidelines made significant profits, I finally went to sleep. When I woke up, my performance turned positive, proving that profits and losses are two sides of the same coin; losses come quickly, and recoveries do too. I also made $24,000 on the sidelines (see picture three).
Correspondingly, the Aster competition account also returned to +$1,000, with the ranking quickly rising from 98th to 20th. (See picture two).
Looking back, the direction and thought process were not the problem. The main reason for this catastrophic opening loss was that I was too anxious that night, wanting to quickly secure a position in the front row, and entered the short position prematurely without waiting for the breakthrough to finish.
Learn from failure; take it slow. I will continue to update the review. Additionally, regarding the position of the participants, everyone can actually see each contestant’s opening and holding situation next to the ranking in that position area.
