Master Trader Class Recap with Trading Legend CL207

SynFutures
SynFutures
Published in
4 min readMay 3, 2024

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Trading legend and Trand Grand Prix winner @CL207 joined our CSO @MattSynFutures1 on X to chat about the TGP, trading strategies, and the origin of the Cat 🐱

In our second Master Class, we had the privilege of hearing from CL, the second-prize winner of the Trading Grand Prix Masters, an intense four-week trading competition featuring some top crypto derivatives traders.

Throughout the competition, CL consistently ranked in the top and was never liquidated — a feat not easily managed in a trading contest. During the class, CL talks about his trading strategies (or lack thereof), approach to risk management, not being “an on-chain clown,” and the origin of his Cat-inspired public profile.

Below is a recap of the interview hosted by SynFutures CSO Matthew Liu.

Check out the full session on X.

CL’s Trading Competition Experience

Before discussing his introduction to crypto trading (“I got in because I was poor and I needed to buy food.”), CL shared his experience trading in the TGP Masters. He recalled they many of the competitors were liquidated quickly because of their high-risk behavior, though that was part of the fun of the competition.

“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.”

To Strategize or Not to Strategize

“Overall, my strategy was just like I thought I shouldn’t be an on-chain clown. So I had to not get liquidated.”

CL mentioned he didn’t rely on traditional indicators like trend lines or Fibonacci indicators when asked about his trading strategy. Rather, he focused on volume, basis, and market logic to assess trading opportunities. However, CL emphasized the importance of understanding market vulnerabilities and participant behavior in a trading competition.

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. I think volume is very important. The basis is kind of important.”

Risk Management and New V3 Updates

Risk management is important in any trading setting, whether it’s just a single trader looking to make a profit or a competitive environment, where multiple traders want the top prize.

As mentioned earlier, CL avoided liquidation throughout the competition by avoiding high leverage. This led to a discussion over the absence of a stop-loss function, a feature that Matt mentioned will appear in future iterations of the protocol. Following the end of the competition, SynFutures actively sought feedback from all the Master Traders to improve the trading features on the dApp. Some of these updates have even been implemented already.

CL also adopted a proactive cut-loss strategy to avoid underwater positions and the need for traders to sharpen their skills and adapt continuously to evolving market conditions.

“I think a lot of perps traders 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. Or just…chasing momentum really hard.”

The Origins of the Cat

To close out the Master Class session, Matthew asked CL whether he prefers trading meme coins or major coins (The latter is his first choice, though he has shorted some L1 tokens in the past.) and asked CL about the origin of his ‘Cat’ persona.

As it turns out, CL doesn’t like cats, but after his friend sent him a cat image, he decided to add it to his profile. But even before that, his parents gave him a nickname meaning “cat” at the advice of a fortune teller. Years later, the name has stuck, and today CL has one of the most popular anonymous accounts on Crypto Twitter.

With more than 65,000 users tuning in, the Master Session was one of our most insightful X Spaces to date. It provided detailed insights into CL’s trading strategies, risk management practices, and perspectives on market dynamics.

Thanks to everyone who tuned in and stay tuned for future Master Class sessions on X!

Disclaimer: All SynFutures X content is for educational and informational purposes, not financial advice.

About SynFutures

SynFutures is a decentralized perpetual futures protocol that facilitates open and transparent trading on any assets and listings instantly. The V3 Oyster AMM launched the industry’s first-ever unified AMM and onchain order book model. Backed by top investors like Pantera, Polychain, Standard Crypto, Hashkey, and more, SynFutures has processed more than $23 billion in trading volume since its launch in 2021.

Learn more:

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