You guys love trading stories so I’ll share my personal favorite
This was in 2021-22 I think
I wanted to do a simple basis trade on $BTT, but since it had very little depth it was gonna be difficult to get a good execution
Being young and an imbecile, I figured I could just spoof the BTT market and get filled for cheap
So I started posting large walls and slowly opened my positions.
Maybe 2 minutes after I started, somebody offloaded 80k worth of BTT-perp on my ass. The orderbook was empty, I had no way to get rid of the tokens efficiently, and if that wasn’t enough, the dude started cleaning the bids in the orderbook
I panicked and decided to offload everything into him and just paid for the slippage
I was fuming even though deep down I knew I had just gotten owned at my own game
Naturally, as we all do, I went on Discord to cry about it to my friends
Once I was done venting, one of my friend goes
“Beni I was on the other side of that trade, I am sorry”
I have never participated in such shenanigans since, I got the message loud and clear market gods
I shared this story in @illustratealpha interview
If you want to read the rest I’ll post the link below
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