One Battle to Fame: Binance Contract Competition Genius Trader Rakes in 8.5 Million USD

He made a real profit of 8.5 million USD (about 62 million RMB) on the Binance futures leaderboard with just a mobile phone, netting 5 million USD from a single ETH contract.

His ID is called “If I Don’t Understand” (hereinafter referred to as “Don’t Understand”). The reason for this name is that when he registered his account, he recalled CZ’s saying, “If you cannot hold, you will not be rich.” He said: If I don’t understand these, how can I have the qualification to make money? He wants to use this name to remind himself that he needs to have a comprehensive understanding before drawing conclusions.

On June 24th, this rarely seen top trader appeared in the Binance Chinese live stream and talked with SiSi about this “off-list” growth experience.

Not a traffic player, not packaged by a team. Many people think that those who can sit at the top of the rankings must either have outstanding talent or have hit the jackpot. But after listening to his sharing, everyone realized that “Bu Dong” is more like a talent-type growth player: when faced with difficulties, he ponders, and when he has fallen into a pit, he immediately reviews. He always has a bit more sensitivity and self-reflection than others. This is the first impression that “Bu Dong” leaves for everyone.

From an ordinary internet worker, to a contract trader who has gone through ups and downs, and now quietly dominating the rankings, this path has no myths, only continuous trial and error and repeated corrections. At the same time, an important factor that cannot be ignored is that the teacher, who never gave up on his main business, has accumulated the capital for a later explosive growth.

If you only look at the result, you would think this is a victory of extraordinary talent; but if you have seen the repeated resets behind his account.

Only after the nights of starting over will one understand that the so-called “King of Contracts” is actually a skill that is gradually honed over time.

How did he go from knowing nothing to becoming the king of Binance futures step by step?

1. As the mist rises: ordinary people, coin circle, Binance

Entering without understanding is not much different from most people.

He is primarily an internet professional and got involved in the coin circle out of pure curiosity.

The initial capital was not much; I bought mainstream coins, played with on-chain projects, made quick money, and also lost my capital.

Choosing to trade contracts on Binance is simple: the liquidity is the best, any number of orders can be filled, the depth is sufficient, and there is no concern about slippage.

For ordinary people trading contracts, the platform’s depth and matching experience almost determine whether they can benefit from significant market movements.

In the first few years, he was more of an observer on the fringes of the market, neither getting too involved nor fantasizing about getting rich quickly, and preferred to study the industry in his own way.

Emotion. When others discuss hot projects, he usually takes the time to ponder the logic behind them, rather than rushing to follow the trend.

Most of the trading is self-exploration, whether you make a profit or a loss, you have to accept it, and no one can cover your losses. I experienced multiple capital drawdowns in the early stages.

Sometimes a wrong judgment can wipe out the profits of the past few months with a single large order.

This trial-and-error process is not dramatic, but it is a necessary stage for most traders who are able to survive later.

2. On-chain trial and error, cultivating market sense

Most people’s enlightenment in the currency circle is to test the waters from small money. “I don’t understand” makes no difference. When he first entered the circle, he was still working in an Internet company, and his daily salary was the main source of income. The money from the monthly balance is reluctant to be spent, so it is used to buy mainstream coins or participate in on-chain projects. For him at that time, the contract was just a distant high-risk area, and the real principal was basically pressed on the chain.

“In the early days, it was mainly about doing projects on-chain, airdrops, GameFi, inscriptions, just joining whatever was popular. Mainstream coins were more stable, while playing GameFi and new chains was more exciting, sometimes earning a lot, sometimes losing a bit, but as long as the main business wasn’t lost, the mindset was still there. Those years, the principal gradually rolled up, relying on the on-chain from thirty thousand to slowly reach several million, and the pace was always quite restrained.”

For him, contracts represent a different set of world rules. At first, he only dared to use small amounts of money to test the waters; each contract was a lesson in how to lose money. “In the beginning, I used very small positions, thinking that if I lost, I lost, but I had to experience what it meant to get liquidated.” This was also a point he repeatedly emphasized in his early days: the contract market in the crypto world is a place where one licks blood from the knife’s edge; without practical experience, it’s hard to truly understand the extent of the risks involved.

“On-chain relies on diligence and research; most projects won’t incur huge losses, but contracts are a completely different matter.” He recalled that his mindset in the early days of trading contracts was actually very simple: not much money, if it blows up, it blows up; if he makes a profit, he treats himself to a nice meal. It was precisely because of this relaxed attitude that he made fewer major mistakes than many newcomers. His main business supports on-chain activities, and on-chain activities support contracts, maintaining adequate space in both positions and mindset, which gives him the qualification to experiment and learn over the long term.

3. ETH reverse operation, one battle to become a god

In this contract competition, one of the most关注操作 of “不懂” was undoubtedly his choice to heavily invest in long 40,000 ETH contracts amidst the prevailing negative sentiment towards ETH in the market.

He detailed the overall profit composition of this round of contracts during the live broadcast: the paper profit for this ETH position is 7.5M USD, and after deducting the previous drawdown and rebalancing, the final net profit is around 5M, with a settlement profit of 7M. Meanwhile, in the first half of May, his extreme short position on ETH contributed 1M in profits, and the remaining 2M came from other trading strategies, bringing the total profit during the contract period to 8.4M USD.

The significance of this ETH long position lies in the fact that it occurs at a time of extreme sentiment. The entire network is almost overwhelmingly bearish on ETH, with the mainstream market view believing the trend is weak and may even hit new lows. However, “not understanding” openly built a position and continuously posted on Binance Square to express bullish reasons. His decision-making logic is based on the resonance of multiple dimensional signals:

1. Continuous inflow of ETF funds: He noticed that the ETF products for ETH had seen net inflows for several consecutive days, and the inflow intensity even exceeded that of BTC during multiple time periods.
2. The critical point of event expectation is approaching: Grayscale’s staking equity ETF has entered a key window, and the SEC may release results at any time after June 2, creating conditions that could trigger a “spike” market.
3. Technical resonance: ETH has seen a huge increase in the daily level, and the rebound momentum supported by the ETF narrative is clear; The ETH/BTC ratio line reversed for the first time from a long-term downtrend.
4. Judgment of Emotion and Market Feel: He pointed out that in terms of short-term market sentiment, ETH is obviously stronger than other coins, and it is often observed that funds are eager to try, which has also been validated by the momentum judgment model.
5. Structural advantages and location selection: From a technical structure perspective, the monthly line of ETH is still weaker than BNB and SOL, and the daily line has not effectively broken the low. If it weren’t for the unexpected drop of BTC below 102000 during this period, which allowed the main force to take the opportunity to push it to 2380, the rise of ETH might have occurred even earlier.
6. The logical main line is clear: “Not understanding” emphasizes that the core of this round of ETH rise is not strong fundamentals, but rather the passive capital inflow driven by BTC’s new highs. On-chain fundamentals like GWEI remain sluggish, and ETH itself lacks active buying pressure, but due to institutional allocation driven by ETFs, the logical closed loop is established.
7. Market Philosophy Judgment: He has mentioned in several public occasions, “If everyone can understand the market, then it shouldn’t be our turn to make money.” This time, he chose to ignore the sentiment across the network and put his own understanding into real trading.

He added during the live broadcast that such heavy positions are never made impulsively. Moreover, once there is a BTC pullback or a key level is broken, he will quickly adjust and will not hold onto positions out of emotion.

4. How to Understand Money-Making Clues

There are many signals in the market, but very few are truly useful. The vast majority of people believe that technical indicators and various candlestick formulas can lead them to the secret of winning. After a few years of “not understanding”, they gradually abandoned the worship of indicators and are more willing to trust the data itself and the details of the market.

He likes to review the large capital flows on the blockchain, observe the changes in major holdings on Binance, and pay attention to ETF capital inflows and outflows, on-chain staking unlocks, and large transfers of established projects. The logic of the mainstream coin market is actually very clear: when large orders are actively bought, when the market shows abnormal orders, and what kind of fluctuations are “wash trading” or “major player repositioning”; these details are more reliable than any “magic indicators.”

Event-driven is the part he values most in trading. Every real big opportunity almost originates from core events inside and outside the industry, such as the launch of ETFs, shifts in US stock market liquidity, and significant changes in on-chain contracts. These things can only be reflected promptly on platforms with sufficient depth and timely information feedback. As the market with the strongest liquidity in the world, Binance is naturally the most sensitive and easiest place to observe structural changes.

He gradually formed his own trading habits: ambushing key nodes in advance, relying on reviews to judge the intentions of the main forces; not easily chasing highs, not changing the big direction due to market noise; when encountering major events, prioritizing logic and cost-effectiveness, preferring to miss out rather than following the trend without meaning.

Market data, market structure, and event-driven factors serve as the fundamental basis for him to select orders, determine positions, and adjust quantities.

Those who can truly seize the big market trends never rely on rumors or short-term hype, but are able to calm down and thoroughly analyze every signal.

Five, Survivor is King

To outsiders, the top of the trading leaderboard may seem somewhat mysterious. However, from the perspective of those who “do not understand,” being able to emerge from countless accounts relies not on talent, nor on the legendary luck, but on repeated self-reflection and self-control in actual trading.

The truth of the cryptocurrency circle is actually very simple: everyone can win, but very few can keep profits and cross the bull and bear cycle. Especially in a market like Binance, where the masters are like clouds, and the changes are too fast, any luck and speculation will be corrected by the market in time.

He confessed that the real pressure does not come from liquidation, but from the anxiety of continuously facing risks after the account curve reaches a high point. The later it gets, the more he realizes that every decision and every position requires extreme restraint. As the account size increases, the heartbeat caused by market fluctuations also amplifies, and any excessive confidence or momentary lapse may lead to total loss.

He no longer blindly pursues maximum leverage, nor does he rely on the thrill of doubling once. Instead, he invests the most effort in position management, stop-loss execution, and risk control. The larger the capital, the more conservative the strategy; he would rather earn less than to survive longer.

There are many peers around me, and the vast majority have fallen due to emotional control issues and lack of risk management. Some made a fortune and became “high” after that, while others couldn’t stop wanting to make quick money, ultimately returning their principal to the market.

“Not understanding” keeps reminding myself that being number one is just a result of a stage, not the end point. Only by focusing on the process, discipline, and mindset can one navigate through the next storm.

He is not so much the king of the contract as the survivor who survived the right time, place and people.

Many people attribute the first place on the list to talent or luck, but in fact, those who can really go to the end are those who can force themselves to evolve in each cycle. The outside world sees the title of “genius trader”, and he himself believes that “as long as you can persist in learning, dare to admit your mistakes, and have a cold heart, anyone is qualified to stand in this position.” ”

Six, Some Suggestions

“Not understanding” means that one’s trading style is developed little by little from practical experience and review. Everyone’s formula is different; as long as it can repeatedly match results, it is a good system.

He emphasized that momentum judgment relies on monitoring the market, position control looks at volatility, and leverage selection should align with the coin, avoiding a uniform template. Before opening a position, he prefers to observe conservatively, and once confirmed, he acts decisively. If he can’t get in, he would rather miss out than chase the rise.

As for whether the contract is suitable for you, he was very straightforward: “If you don’t even have your own profit logic, don’t touch contracts yet.”

He has experienced a series of blows from 3700 down to 890, and has also gone five days without sleep, staring at the market day and night.

Now, his trading principle is very simple:

Able to withstand any eventuality and be prepared for all responses in advance.

This sentence is his advice to everyone and the reason he has reached his position today.

Disclaimer:

This article is for industry exchange and experience sharing only and does not constitute any investment advice. The views in the article only represent the author’s personal position and have nothing to do with the platform. The information contained herein is not intended as investment, financial, legal, accounting, or tax advice, nor does it constitute a recommendation, offer, or solicitation of any digital asset. Digital assets (including stablecoins and NFTs) are volatile and have high risks, so please carefully evaluate them according to your own circumstances before investing. For professional advice, please consult your legal, tax or investment advisor. Readers are requested to consciously understand and abide by the relevant laws and regulations of their region at their own risk.