Day 1 of the Aster Contracts Tournament
Hey guys, this is trader Zhu Yidan. I've lost over 3000 USDT so far, leaving me with less than 7000 USDT, currently ranking near the bottom.
I opened a Lunc trade, 10,000 USDT tripled. Last night, I made a profit of over 2000 USDT at its peak, but I was asleep and didn't see it. My reason for buying was that it had been consistently on the gainers list for the past two days, plus the founder's imprisonment on the 12th was a hot topic. Looking at the daily chart, I felt it would continue to rise. This trade lost a little over 2000 USDT. The entry point wasn't good; I thought it was about to break out, but I ended up chasing the peak. This afternoon, it dropped below 0.059, and I panicked, immediately cutting my losses. The most infuriating thing is that it rebounded right after I cut my losses. If the position were still open, I would have made over 1000 USDT.
It has indeed risen quite a bit. I was afraid a pullback would wipe out my tripled long position. Secondly, the hot topic and event were too close together; the hype period is limited. These kinds of non-realistic positive news, once realized, will cause a sharp drop, so I couldn't hold on and cut my losses.
My second order was for a small-cap altcoin at 42, also chasing a breakout. I opened with 8000 USDT and leveraged it 4x, currently down over 1000 USDT. My reasons for buying were the low market capitalization, the three consecutive days of upward price action, and the liquidation price being below the historical low. I'm going to hold it and see.
Aster, being a small altcoin, has very poor liquidity, a fatal flaw with no good solution. It's frustrating how few hot topics there are right now, with little profit-making potential. The US interest rate meeting is on Thursday morning; let's see if the market improves after the announcement.
I will continue to update this contract trading session as a record. I've been eating and sleeping well at home these past two days, yet I've caught a cold. First, a sore throat, then a runny nose and sneezing. Uncle Ai says it's H1N1. So frustrating!









