Everyone chases PvE narrative trades in onchain - but few actually trade them well, a lot falls down to execution. $GORK is a good example from the recent ones. The Setup: Thesis was straightforward: if Elon interacts with the main account, $GORK flies. Meme alignment was strong, odds of interaction weren’t zero, and reflexivity potential was high. But it had already run from $0 → $45M in a very short time span - and by then, price becomes part of the risk. --- The Good Trade: - You followed process. Waited for structure or a 50% retrace from ATH to get proper R/R. - You considered timing. Was Elon even awake? When did he last post? Does it line up with usual hours of engagement? - You drew from experience. Past meme runners tend to top out early without hard news: $30M ranges are usually the stall zone without a catalyst. - You had clear invalidation: price-based and time-based. If no tweet by X, or price breaks key level → cut. - You mapped sentiment. Was it already peak euphoria? Who bought in? Were they likely to wait or fade? Will they capitulate and where? The Bad Trade: - You FOMO chased late - bought the top range purely off social hype. - Oversized from the start, then kept adding at irrational points, hoping Elon would bail you out. The real mistake wasn’t the adds: it was sizing wrong upfront. - Ignored how these trades decay: if the catalyst doesn’t hit fast, boredom sets in, people exit, and it grinds down slow and painful. - Got emotional. Took a hit, then either avoided the trade entirely out of spite or jumped back in on tilt without reassessing the setup. --- Narrative’s the hook, but without execution, you’re one step away from gambling.