The Tomb Fork Saga : Chapter 12
After selling the dip: the ambush
Le zèbre, ready for the ambush
I had escaped the 2omb casino without harm (Read the previous episode: Shitcoins and Panic selling). Waking up in the morning, after a night without nightmare, I felt quite proud of myself. I was safe and richer.
I had invested 100 FTM in the casino, going straight for the juicy part: the 2SHAREs. I had bought them a bit above 300 FTM. I had accumulated 25 FTM in yield, saw the price of 2SHARE rise to 700 FTM but then go crashing down and I had sold them all at around 400 FTM, before their unavoidable collapse to zero, like had done all previous algo-coins.
In the end, I was sitting on a stack of 150 FTM, and the 2omb casino was certainly just smoking ashes by now. We zebras must have a knack for trading ;-)
I spend a day doing nothing, and the following day, I went outside. I walked to the 2omb Casino to scorn at the rumbles. When I arrived there, my jaw dropped:
I had sold the dip at around 400 FTM
2SHAREs were trading above 1200 FTM!!! See the dip on the left side of this chart? That’s were I had sold, so sure about it would all collapse. You’ve just missed a 3x you stupid animal!!!! Your portfolio would be worth 400 FTM by now, you damned idiot!!!
Good traders control their limbic system
Anger surged in me. I was furious. Then I realised what had me sold the dip: fear. I thought about my anger, I pictured it as a red ball of fire, and mentally, I threw it away. I had to calm me down, and analyse the situation. What was happening?
The Limbic System is where our emotions are
It was quite simple. As I have explained in The Compounding Share Skaters, 2omb Finance was in a powerful positive loop: 2omb was above the peg, so freshly minted 2ombs were raining on 2share holders. Instead of letting these new 2ombs go into the rest of the ecosystem and eventually bring 2omb back down to the peg, 2share holders were buying more 2shares, so the price was not going down. At the same time, new people were entering the casino: 2ombs were going up.
Where were these newcomers coming from from? Well, maybe they were simple FTM hodlers that were attracted by the yield. Maybe they were coming from the other big casino next block. It looked indeed that 2ombFinance was sucking TombFinance dry. But they may very well be coming from other blockchains. People annoyed by the various problems on Solana, or the insane gas fees on Ethereum, were probably popping around on Fantom.
Even better, people were probably coming from centralised exchanges like Binance … just like me a few weeks ago.
Setting up the ambush
Was this going to stop? Most probably not. The higher 2omb was going against FTM, the faster that positive loop would run. Was I going to get back head on into that race? Well, yes, but with a completely different strategy.
I went to SpookySwap. Things were going too quickly on the market. I wasn’t going to skate 2shares anymore, I was going to trade them.
My first assumption was that 2shares were on their way to the Moon. My second assumption was that I am a complete idiot. Last time I had been sure about something, I had missed a 3x.
So I split my stash in two equal parts. With the first half, I bought 2shares at 1200 FTM. I cut these 2shares in two again: I put the first half on a limit sell order at 2400 FTM, and the other half on another limit sell order at 3600 FTM.
For the FTMs I had left, I put half of them on a limit buy order at 800 FTM, and the other half on a limit buy order at 600 FTM. This was the setup. Le zèbre was ready for the ambush.
I ordered a pint of beer at the Spooky bar, and drank slowly. I had one thing left to do: wait & see.
In the next episode, le zébre will tell you his wallet address: Follow le zèbre on DeBank.