Vine Review: I looked at the logic: Musk tweeted that he wants to bring VINE back, using artificial intelligence.

I thought it belonged to the FOMO sentiment market. Once the sentiment passes, or once this matter becomes a fact, it will probably end. Because Musk’s statement about bringing back Vine has nothing to do with the token $VINE , it’s just a hot topic.

So last night before sleeping, I checked the price of VINE: it was around 0.08. I then placed a short position at 0.106, thinking that if it surged by 30%, I would gradually short and profit from a pullback after the surge.

In the morning, not only did it surge, but it continued to surge by over 60%, reaching 0.134. At this moment, I had a short position of around 1800U, with a loss of about 160U.

I checked the curve and saw no signs of a pullback, indicating that the sentiment was still strong. It also showed that the market maker was in control.

At this point, the wisest action would be to cut losses. Because it had already broken the original plan.

However, I did not cut losses; instead, I added another 800U short position. But when adding the short position, I set a stop-loss at 0.0144.

As a result, I was indeed stopped out. I lost about 430U.

My own reflections:

1. I should not place orders while I can't monitor the market at night, even for prices I consider absurd.

2. I should not short low market cap assets, especially when sentiment is rising. Because low market cap assets are more volatile, and market makers can easily control them.

3. When the expectations of an event have not yet concluded, meaning the facts have not been revealed, I should not short it. Shorting should be done on the wave of a pullback after the facts are out. $VINE