# Lớp học Trading nâng cao của SynFutures với huyền thoại giao dịch @CL207
#### Giới thiệu:
* Được tổ chức bởi Matt từ SynFutures, có sự tham gia của CL - người chiến thắng giải nhì trong Cuộc thi giao dịch SynFutures Grand Prix
* CL chia sẻ những hiểu biết sâu sắc về hành trình, chiến lược và kinh nghiệm giao dịch của anh ấy.
#### Kinh nghiệm thi đấu giao dịch của CL:
* Chiến lược của CL: Ưu tiên quản lý rủi ro để tránh đòn bẩy và thanh lý quá mức.
* Lưu ý việc thiếu chức năng stop loss trên sàn giao dịch, nhấn mạnh sự cần thiết của các tính năng giảm thiểu rủi ro.
* Những thách thức phải đối mặt: Các vấn đề biến động và thanh khoản trong quá trình cạnh tranh.
* Một số người tham gia đã bị thanh lý sớm do giao dịch quá mạnh.
* CL đã cung cấp phản hồi về tầm quan trọng của việc triển khai các công cụ quản lý rủi ro để có trải nghiệm giao dịch tốt hơn.
Mark cũng chia sẻ rằng SynFutures đang nghiên cứu một số hạng mục cải tiến như chức năng dừng lỗ, chức năng chỉ giảm và cải tiến UX. Những cập nhật này sẽ được thông báo ngay sau khi hoàn thành
Chiến lược giao dịch của CL:
* Phương pháp phân tích kỹ thuật: Ít phụ thuộc vào các chỉ báo truyền thống như đường xu hướng hoặc Fibonacci.
* Tập trung vào các yếu tố như khối lượng, cơ sở và logic thị trường để đánh giá các cơ hội giao dịch.
* Nhấn mạnh tầm quan trọng của việc hiểu các lỗ hổng thị trường và hành vi của người tham gia.
* Thực hành quản lý rủi ro: Quản lý rủi ro một cách chủ động thông qua cách tiếp cận có kỷ luật.
* Áp dụng chiến lược cắt lỗ chủ động để tránh các vị trí dưới nước.
* Thừa nhận thách thức trong việc cân bằng trực giác với phân tích logic trong các quyết định giao dịch.
* Giao dịch dài hạn và ngắn hạn: Thảo luận về sự khác biệt trong cách tiếp cận cũng như tầm quan trọng của sự kiên nhẫn và khả năng thích ứng.
* Nhấn mạnh sự cần thiết phải học hỏi liên tục và thích ứng với các điều kiện thị trường đang phát triển.
#### Điểm mấu chốt:
* Quản lý rủi ro: Nhấn mạnh tầm quan trọng của việc cắt lỗ và biết khi nào nên chốt lãi.
* Động lực thị trường: Nhấn mạnh vào việc hiểu tâm lý thị trường và hành vi của người tham gia để giao dịch hiệu quả.
* Trực giác và Kỷ luật: Nhấn mạnh tầm quan trọng của kỷ luật tự giác và học hỏi từ những sai lầm trong giao dịch.
* Sự phát triển của thị trường: Thảo luận về việc thích ứng với những điều kiện thị trường thay đổi và giảm bớt sự biến động theo thời gian.
* Giao dịch như một kỹ năng: Khuyến khích học tập liên tục và phát triển kỹ năng để giao dịch thành công.
* Kiên nhẫn và kỷ luật: Ủng hộ sự kiên nhẫn và kỷ luật trong việc điều hướng cả những biến động ngắn hạn và xu hướng dài hạn.
* Trí tuệ và Kinh nghiệm: Đánh giá cao những hiểu biết sâu sắc được chia sẻ bởi các nhà giao dịch giàu kinh nghiệm và giá trị của việc học hỏi từ các đồng nghiệp trong ngành.
Nhìn chung, AMA cung cấp những hiểu biết chi tiết về chiến lược giao dịch, phương pháp quản lý rủi ro và quan điểm về động lực thị trường của CL. Những người tham gia đã thu được kiến thức quý giá về kỹ thuật giao dịch hiệu quả và tầm quan trọng của việc học hỏi liên tục trong thị trường tiền điện tử.
#### Script chi tiết
\[00:14 - 00:17] Thank you.
\[00:50 - 01:28] Hello, testing, testing, and very good morning, good afternoon, and good evening to everyone.
\[01:30 - 01:41] This is Matt, TFG at SynFutures. Today, I'm the host. So, we're going to start this Twitter space in a couple of minutes.
\[01:42 - 01:55] The topic today is a master class learning with master trader, CL. So, we're going to do a little bit test, and we're going to start shortly.
\[01:57 - 01:57] Thanks.
\[03:36 - 03:46] Hello, CL. Good morning. Can you do a little bit testing to see if... The headset works? Yeah, hello.
\[03:47 - 03:59] Can you hear me? That is loud and clear. Thanks, sir. Okay, perfect. Yeah. Awesome.
\[03:59 - 04:10] Yeah, then we should get started. Good morning, good afternoon, good evening again, everyone. This is Matt, TFG at SynFutures.
\[04:10 - 04:15] Today, we're very happy to have a winner.
\[04:16 - 04:23] We have our trading competition, CL, joining us to share a little bit about himself,
\[04:24 - 04:33] about his trading skills to make sure everyone walking out of today's Twitter space will have no more skill issues in their trading.
\[04:36 - 04:46] So, yeah, we're going to all learn a lot. So, maybe, can we have a quick intro from you?
\[04:46 - 04:54] CL, about like your background and how you get into crypto as well as trading? Hello.
\[04:54 - 05:06] Yeah, I got into it in 18, late 18. I got in because I was poor and I needed to buy food.
\[05:07 - 05:19] Yeah, pretty simple, honestly. So I... But I remember I bought some Bitcoin and then it went up. It went up like three X and I wasn't rich yet. So I had to start using leverage.
\[05:21 - 05:29] And then I lost it all like a few times until it got better around like 19, 20, 20.
\[05:29 - 05:38] I kind of like started getting better at trading. I don't trade anymore.
\[05:39 - 05:51] So the fact that I won, like a lot of people in CT have like a lot of skill issues. So, yeah, that's about the intro. I like that.
\[05:53 - 06:02] I like that. Thanks. Thanks. So just as a quick recap, CL got into crypto because he was poor, he wanted to buy food.
\[06:02 - 06:09] And then he won this competition because of other people's skill issue. Wow. Thanks. Thanks.
\[06:11 - 06:21] Yeah, I guess, you know, I need to buy more food to get... You know, better in trading. Thanks.
\[06:23 - 06:33] So, CL, I know you've been through the four weeks of trading competition. SynFutures hosted. It's a purely on-chain experience.
\[06:33 - 06:44] It was a little bit different, I believe, from the other more centralized exchange-like experience. And of course, you know, eventually you win. You win the second prize. Congratulations again.
\[06:44 - 06:48] But can you help share some of your experience?
\[06:48 - 06:58] In this competition, what your strategy was, how did you see, you know, your performance versus other friends in the same competition?
\[07:00 - 07:09] Yeah, I can start with the others. I don't know what their strategy was, but I think they just took a position and just like got liquidated really fast.
\[07:10 - 07:18] Maybe because like, I don't know, I feel like 33x on-chain is a pretty high access of leverage.
\[07:19 - 07:31] And it started when like we just nuked like non-stop. So, you know, that was probably why like everyone got liquidated on like day two or something. That was pretty funny.
\[07:33 - 07:42] But overall, my strategy was just like I thought I shouldn't be an on-chain clown. So I had to not get liquidated.
\[07:42 - 07:55] So I actually took the same trade with like everyone else. I just longed. But I had to liquidate. I had to like manually stop out because there was actually not a stop loss function on the exchange.
\[07:55 - 08:00] So, yeah, that was one of many of our feedbacks from using the exchange.
\[08:00 - 08:16] So yeah, pretty happy you guys are actually trying to implement this feature because, yeah, I think it's pretty good to have a stop loss if you're going to like be away from the computer for a bit.
\[08:19 - 08:30] Yeah, and overall, the trading experience, it was kind of reminded me of trading on DYDX like a few years ago where it was kind of new.
\[08:31 - 08:35] Some features were kind of lacking, but it worked.
\[08:37 - 08:49] Although it did offer much more leverage than DYDX, so that's like a good part, although the downside was the liquidity was kind of inconsistent. So I remember some days, I was like, oh, I'm not going to be able to do this.
\[08:49 - 09:02] And then I started seeing a pretty decent liquidity for like an Onchain DEX where you could take a couple multiple bitcoins on the Ask or Bits side without too much slippage.
\[09:02 - 09:13] And then sometimes I think the LP or whichever MM is doing this on your DEX, they're pulling during high volatility.
\[09:13 - 09:19] So it was much harder to exit during these times.
\[09:20 - 09:26] Yeah, so my trading has always been pretty, somewhat lower timeframe.
\[09:28 - 09:38] And I think during the competition, it was pretty volatile overall, unlike the last two weeks, which would have been much harder, I think, for everyone. Yeah.
\[09:42 - 09:53] Yeah. Thanks. Thanks, Yael. I think, like you said, the strategy varied across different people, right?
\[09:53 - 10:04] Some people put on max long or max short and then hopefully they'll get 100x or zero, right? But then that's more like one game right now.
\[10:04 - 10:14] We specifically designed this game to be four weeks. So it's more like a survival plus skills, right?
\[10:16 - 10:26] That we have witnessed as more like a winning strategy, rather than making a big win one week and probably getting liquidated in the end of the day. Yeah.
\[10:26 - 10:35] In fact, the market was so volatile that because people are so aggressive like I said, many people got liquidated in the first two weeks.
\[10:36 - 10:49] Then from the organizer's perspective, we were like, oh, do we do a top-up? Yeah. Which we did in the third week.
\[10:49 - 10:59] So we don't want people to just leave the table. We want everyone to keep playing. Yeah.
\[10:59 - 11:07] I saw someone getting liquidated like an hour after getting topped up. Yeah. Salute to that.
\[11:15 - 11:23] Okay. You're not talking about who that is. Yeah. Yeah. Yeah. But yeah, we saw that too. Yeah.
\[11:26 - 11:35] Well, if the market works in their favor, they might be the winner instead. Take it that way. But the top three, I think, right?
\[11:35 - 11:48] So even if there's a big win one week, at the end of the day, it's like a marathon rather than a sprint. Yeah. And also, thanks for using the time.
\[11:48 - 11:59] You pointed out a couple of improvement items that we're currently working on. For example, the stop loss function, the reduce only function, because initially in the fully
\[11:59 - 12:06] Onchain design, it wasn't easy. And then, so we tried to start with a simplified version.
\[12:07 - 12:19] Now we're adding that in, I would say, the next couple of weeks or months because we'll need a major upgrade to enable that. But definitely, we understand that would be a much better experience for the traders
\[12:19 - 12:27] Who wants to reduce their position, right? And then, like you said, if you want to walk away from the trading station for a couple
\[12:27 - 12:33] Of hours or take a nap, it'll be easier, knowing that there's a stop loss there.
\[12:33 - 12:44] So we're going to implement that, as well as other, I would say, UX features. I think that's going to come. Yeah.
\[12:45 - 12:57] And we're going to send an update to everyone once these functions are up and running. Fingers crossed, we can do something better, better than ourselves and better than the competitors.
\[13:00 - 13:13] Thanks. Yeah. Now, yeah, Xiao, may I understand a little bit about your, I mean, not just the strategy
\[13:13 - 13:24] In this trading competition, I assume. But also, generally speaking, I think you mentioned you don't trade, but we do see you have a good, I would say, risk management practice.
\[13:24 - 13:36] And then probably, I don't know what, you also use some indicators or some strategies. Can you share a little bit on these as well?
\[13:37 - 13:47] Yeah. For indicators, definitely no lines. Or these Fibonacci. Yeah. Fibonacci or like strength index.
\[13:50 - 14:02] I don't have much indicators on top of the chart, really. But I think a lot can be deduced from kind of just logic.
\[14:04 - 14:10] I think volume is very important. The basis is kind of important. Yeah.
\[14:11 - 14:22] I don't really, I'm not really a big believer in like trends, like trend lines or that kind of thing. So technical analysis, no. Yeah.
\[14:22 - 14:34] I mean, it could work in your favor. You might have like, you could in your mind be like, okay, I know a hundred people are going to like buy here with, I don't know, maybe like a little bit of money.
\[14:34 - 14:47] Because they draw a line, say that they're not super-rich. And then you can like, maybe a CMO, like, because like there is no one trading right now. This can actually have like a big short-term impact on the market.
\[14:47 - 14:52] Or something. But generally, no, I don't really look at lines.
\[14:54 - 15:04] And I think time is also like a good factor because like for market to like add on leverage
\[15:04 - 15:10] and deleverage, that tend to go through quite a bit of time.
\[15:11 - 15:19] And just overall, yeah, again, just kind of like logic.
\[15:19 - 15:28] Trying to assess like where a lot of people are like are vulnerable in their positions.
\[15:28 - 15:35] So there are some levels where like the market trade and like some participant is like, like definitely wrapped, right?
\[15:36 - 15:46] So if we do trade into these levels, you kind of have to like sort of kind of guesstimate
\[15:46 - 15:54] How, like how much of that's like. Forced selling, forced buying is going to last, or how much size that's going to be.
\[15:54 - 16:03] And like, why do you think that size is like, or why do you think that selling is done or like that kind of stuff?
\[16:03 - 16:13] And my general equation for that is just a kind of a rough multiplier between the amount
\[16:13 - 16:22] of time we spend being very highly levered. So basis. Basically basis going nuts and that over, over time.
\[16:22 - 16:29] So the longer that happens, the, the kind of worse it gets ultimately yeah.
\[16:32 - 16:43] And for, for when I trade, I mostly try to trade around those kind of like events if it's like long, long term, but short, short term, there's like, it's kind of similar in
\[16:43 - 16:51] short term too, except it's just like way more highly leveraged per per traders, which,
\[16:51 - 17:04] which now is getting, I would say weaker than before you see much less 10% move suddenly on Bitcoin, just because the relative amount of traders putting on high, high amounts
\[17:04 - 17:17] of risk versus the available amount of liquidity has sort of reduced. And that's probably because just, there's just less traders overall relative to, to,
\[17:17 - 17:28] to the market size compared to, I would say like 2021. Yeah. And, and, and before that, yeah, for sure, like in 2019, I feel like in 2020, there were
\[17:28 - 17:40] a lot of traders relative to the market size of Bitcoin. So like when everyone gets caught offside you, you get those like 20% moves kind of frequently, but we don't see that much anymore.
\[17:46 - 17:56] I see. I see. So basically if, if my understanding is correct,, you first look at the basis, right? The basis goes crazy.
\[17:56 - 18:09] Especially for a period of time, that means, the leverage in the overall market is high. Right. And so the, the, the market trend is going to be more persistent if it goes, can I understand
\[18:09 - 18:21] It that way? So, you know, that, that, that'll be a good time to just start doing some trades, especially with the leverage. Oh, wait, sorry. Yeah.
\[18:21 - 18:32] Just want, just want to understand my understanding is correct. Wait, sorry. What did you just say? I, I just wanted to understand. I laughed for a second. No. Oh, no worries.
\[18:32 - 18:40] I was just having a recap because I, I think I understood from you where you first look at the basis, right?
\[18:40 - 18:47] If the basis goes crazy for a period of time, that means the overall leverage in the market is high.
\[18:47 - 18:59] So that that could be, you know, the indicator of another, like maybe, maybe a, a big swing in the market on one side. Or, you know, some, some, you know, some, you know, some, you know, some, you know,
\[18:59 - 19:09] some, like, a persistent movement towards one direction. So suppose like this will be a good time to put on a trade. Yeah.
\[19:13 - 19:21] For, me to take a position, at least in the past, I, I, I actually don't look at as many long-term factors.
\[19:22 - 19:30] But, but, but yes, if, if basis is high for, for a long time, that's generally not a great thing for the market. Because.
\[19:31 - 19:39] means it takes a lot more money to uh on the spot market to first of all buy out all the
\[19:39 - 19:51] Existing leverage uh so basically everyone who's long is bailed out and then on top of that after they buy through that resistance they have to keep buying so it's just like it takes a lot more money
\[19:51 - 19:59] to uh push the markets higher yeah so so generally that's not great but as for taking a position um
\[19:59 - 20:10] like say shorting it it's it's not just like oh base is high i'm about to short it's it's a bit
\[20:10 - 20:19] more um yeah i guess that that for for taking on a position i think that's way more intuitive
\[20:19 - 20:28] some something um people kind of just get a feel for if they maybe trade a wall uh trade for a wall
\[20:28 - 20:34] yeah got it
\[20:34 - 20:41] so it's about skills i get it yeah yeah yeah yeah definitely skill yeah
\[20:46 - 20:54] related to the skill thing um i mean you you you did it like a um okay sorry so i think i think got
\[20:54 - 21:03] liquidated i i think a better way to uh to say that was like like let's say you're uh if you're looking for a short then um
\[21:04 - 21:16] uh like yeah if base is high like you you could try to look for a short but you you kind of have to also understand like there's other participants who want to do that
\[21:16 - 21:23] and at what point do um the amount of like perpetrators kind of run out of money too
\[21:24 - 21:34] uh too too long right so because it it's really bad to like be uh trying to like stand in front of like a massive like Train even if you know like they're all have
\[21:34 - 21:42] it for like uh the wrong way right um so yeah just generally estimating the remaining amount
\[21:42 - 21:51] of people who are willing too long and um is kind of like sort of like a guessing game i would say
\[21:51 - 22:04] yeah got it yeah that must require some you know long period of trading experience as well as good
\[22:04 - 22:16] good skills uh yeah sorry i don't have the best public uh speaking and i mean yeah it's uh i i i
\[22:16 - 22:25] think that there might be um some magic stuff that uh is not uh easily describable but uh um yeah but
\[22:25 - 22:34] we also will i think the traders in our community also want to know about your uh you know risk management um
\[22:34 - 22:47] you know ideas or risk management um let's say sharing because we we saw that in the four weeks, you didn't get liquidated right that means normally in your trading um like experience
\[22:47 - 22:56] you you also do like uh um to cut cut loss or you you you know how do you manage risks yeah not only
\[22:56 - 23:07] just to make money but also what if you when you are losing what practice you have um it's uh
\[23:08 - 23:19] pretty very difficult well yeah it's hard hard to explain because i don't have like a strict model where if i'm down a certain amount or like a specific percentage where the market moves against my position where i where where i immediately close
\[23:22 - 23:30] um well i guess there's source sort of some kind of um time way to factor in that um on top of um i actually do close a
\[23:30 - 23:35] lot of positions pretty aggressively too even if i don't think that's the best price
\[23:35 - 23:44] just as like a form kind of like a form of punishment to myself um just so i i kind of
\[23:44 - 23:50] remember like oh that was kind of a not a great trade so i deserve to lose money on this so i
\[23:50 - 23:59] i will exit right now even if i don't think that's the ideal exit um of my position but generally i
\[23:59 - 24:07] i try to not be underwater in the first place which i i think sounds kind of absurd because
\[24:07 - 24:15] that half that kind of hints that i'm trying to top like pico top short or like pico bottom long
\[24:15 - 24:22] all the time but i i guess i am indeed trying to say that just because like that's just so much
\[24:22 - 24:29] easier to manage like a position if if like you have a better entry obviously because
\[24:29 - 24:41] Because then, like, your stop losses, like, could even be, like, above your, like, before where it goes back to your, like, entry, right?
\[24:43 - 24:55] Or you could, like, kind of, like, scale in. You could, like, buy, like, if you think this is, like, a local bottom. Even on a very low time frame, you can buy some and then, like, add a little bit later.
\[24:56 - 25:08] Kind of even it out. I do stuff like that where I used to. Or, yes, a lot of the time I also, like, break out trade.
\[25:09 - 25:20] I think a lot of perpetrators, when they get really good at, like, timing local lows and local highs, something they fail to do is, like, just FOMO long or FOMO short.
\[25:21 - 25:31] Or just basically just, like, chasing momentum really hard. But that's something I really like to do. And I always, like, FOMO short, FOMO long.
\[25:33 - 25:46] But, again, that's just kind of, like, intuition on trend and just, like, the short-term flows. It kind of depends on if someone kind of looks at stuff like that.
\[25:49 - 25:59] I think that's, like, this. I think staring at short-term flows might be, like, some of the most, like, mentally unwell thing you can possibly. Do to yourself.
\[26:00 - 26:10] But so I don't really recommend it. But so, yeah. So if you're trading long-term, I think it's kind of a bit easier.
\[26:11 - 26:23] As in you kind of just buy one, like, quarter these are, like, at zero. It's kind of, like, a strategy that's just that just kind of mathematically don't fail for, like, a few years now.
\[26:23 - 26:36] Except, like, these are, like, multi-year trades. So, like, no one in crypto has the patience for that. Yeah. So, yeah. Multi-year in crypto sounds like multi-centuries in real life. Yeah.
\[26:36 - 26:47] It's not easy. Yeah. We all need a point. I think. Oh, sorry. Oh, sorry. Go ahead. Oh, I was just about to say we all need, like, an X hundred, like, tomorrow, right? Yeah.
\[26:50 - 26:58] Yeah. Yeah. But to your earlier point, I think. I get that.
\[26:58 - 27:07] I get it that you actually have a good risk management practice in terms of doing aggressive, like, cut loss, right? Stop loss.
\[27:08 - 27:21] If, for example, the entry point isn't right, if the market is, you know, moving against you, right, you don't really hold and wish and have the fingers crossed that it's going to come back.
\[27:21 - 27:32] But rather, hey, let's just cut it. Right. That's good execution, actually, in risk management. Yeah. Yeah. Thank you.
\[27:35 - 27:36] Yeah.
\[27:40 - 27:49] I remember when I was first trader, like, it was a while ago, you know, in a bank, doing some trades. Yeah.
\[27:51 - 28:02] My senior trader told me, hey, it's not about making money. It's about how to cut loss. That's the hardest part about trading. No, actually. Yeah. It's the hardest part.
\[28:02 - 28:06] And the second hardest part was where to take profit. Yeah.
\[28:06 - 28:20] And per the guy, the senior trader at the time, yeah, he said, oh, you know, entering a trade is the easiest thing because when you enter, you don't have a P\&L at all.
\[28:20 - 28:31] Right. So it's like, no pressure. But after that, right, either you're under the water or you're having a profit. Now that the trouble comes. Yeah. Yeah. Yeah.
\[28:32 - 28:39] These are wise words. I think I'm a horrible profit taker.
\[28:40 - 28:50] I'm very or I got way more conservative after a while.
\[28:50 - 29:03] So my profit takes have generally been super lenient. And yeah. But also. That's maybe that's good for survival. So, yeah.
\[29:07 - 29:16] Yes, it is. And see how we in the trading competition we hosted, I think because it was early in our platform.
\[29:17 - 29:27] So we only allow like two pairs to trade. Right. So one is against Bitcoin. The other is in the Ethereum. Do you also trade meme coins?
\[29:27 - 29:33] You know, what's your preference in your. Of course, you don't trade much. I think you mentioned.
\[29:34 - 29:41] But like in your, you know, in the hobby time, what tokens do you prefer trading?
\[29:42 - 29:48] Oh, in my hobby time, I try to not do anything crypto.
\[29:57 - 29:59] That's a good one. Consider crypto as your hobby. I know.
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