Synthetix spent 1 million dollars to host a trading competition, specifically inviting 50 influential celebrities and 50 trading experts. The lineup is quite luxurious—Evgeny Gaevoy, the CEO of Wintermute, is here, as well as the legendary whale James Wynn, who made a net profit of 100 million dollars in 70 days, and the pro Ansem from the industry.

After the match, the atmosphere changed drastically: a bunch of players either got liquidated and exited or started doubting their trading skills after suffering losses. Even more outrageous are James and Bitlord, who didn't place a single order the entire time, just idled, and in the end, comfortably secured the 12th and 13th positions.

This matter actually illustrates the problem quite well. The hardest part in the market is not knowing how to place an order, but rather knowing when to hold back and not make a move. Forcing yourself to enter the market when the position is not right only adds frustration without any real significance. Sometimes, staying on the sidelines and observing is a strategy in itself. Those who win effortlessly are precisely those who understand what it means that "waiting is more valuable than acting."

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MemeCoinSavant

· 11-19 22:08

nah the real thesis here is that doing nothing is actually game theory optimal... which is hilarious when u think about it fr fr

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LiquidityWitch

· 11-19 11:53

Lying down and winning is real; I got into the top 15 without making a single trade, this is really incredible. Not moving is the best way to move; I’ve realized it. It seems that the three positions I blew up this month were all because my hands were too eager. Is this the art of not making money and not losing money that is said to exist? Synthetix really spent 1 million to give everyone a lesson, and the instructors are the two guys who made the most profit while being idle. Why can’t I learn to be patient? I have to look for trading opportunities every day. I’m afraid I will never reach the realm of holding a Short Position and observing. The pros are all playing the game of effortless governance, while I’m still chasing the price and selling with bearish market; it’s absurd.

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AirdropLicker

· 11-19 11:42

Not opening positions and still making it to the top 15, now that's a real trader, we've all been fooled. --- Laughing to death, spending 1 million to hold a grand competition is just to show everyone what "motionless like a mountain" really means. --- James getting 12th place while AFK is something to really think about. --- Turns out lying down and winning is the ultimate secret, I've wasted all my efforts before. --- It's tough, a bunch of experts are actually worse off than those who remain still, the market really goes against human nature. --- The phrase "Short Position and wait" is too perfect, so many people have died from the thought of "I have to do something." --- I just want to know what those who got Liquidated are thinking now, hahaha. --- Wait, can you earn rankings without opening positions? This is absurd. --- Wintermute's CEO is here, but gets crushed by two AFK traders, this script is interesting. --- To put it bluntly, it's greed that kills, and self-discipline when positions are wrong is indeed more valuable than skills. --- This competition is absolutely brilliant, it slapped half the crypto world in the face with facts.

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YieldFarmRefugee

· 11-19 11:37

Laughing to death, even lying down to win can get into the top 15, this is the truth of trading. Short Position is the strongest strategy, much better than blindly messing around. James directly hangs up to win money, while we fidget and operate blindly every day. It seems my problem is not in technology, but in being too eager with my hands. This competition truly reflects reality, shorting is the opposite of going long. Resisting the urge to move positions, saying it is easy but doing it is hard. One million in prize money leads to this conclusion, I am convinced.

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BTCRetirementFund

· 11-19 11:30

Haha, laughing to death, being immovable like a mountain is actually the right way, this logic is unmatched. Really, a bunch of people are messing around there, it’s better to just lie flat, that's the gap. Short Position is also a technical skill, many people simply can't comprehend it. What you said is spot on, holding back is the hardest lesson. This competition can be considered a teaching moment, those who got on board were all liquidated, but those who went idle won. It feels like trading isn’t really about how much you can earn, but how much you can keep. Sounds heart-wrenching, so my frequent operations over the years were just self-inflicted pain? It's quite interesting, thinking about this logic in reverse actually makes sense.

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