Trader took his own life after the recent huge dump

[tranthidung]

This unfortunately happens a lot in bear markets or price crashes like this. Truth be told for the readers — while money is definitely important, money isn't everything. Money that was lost can be made back in the future whereas on the other hand, you only have one chance at life. Be careful with making impulsive decisions.

Corrections and crashes can happen in both bull and bear market. Margin traders if choose high leverages, will be liquidated and bull or bear market does not make sense for such traders.

I never advise newbies to use leverages for trading. Because they do neither understand how risky crypto market is nor how their margin position will be liquidated.

If they are newbies, let's get started with hodl that can give them open positions for as long as they want. No risk of liquidation and they will have many opportunities to take profit. Miss one, go ahead with another.

[DarkDays]

Damn this is a grave news. People should really take cautious when dealing with leverage trading. Mind those who have fainted hearts to avoid trading style like this. You let the emotions take in and once a user can't take the result definitely will result to something like this. Money is so hard to earn and probably the victim can't take it that his long time saving is already gone just like that. I'm very sorry to the one who've posted this on reddit I'm sure yohlu can't accept the reality of what happened.

Man, this is sad. Everything is good and happy when the market is green but when the tables turn people can have severe reactions.

I'm not saying it isn't stressful seeing the market dumps but for Christ sake, life can be lived even without being in the market. I feel for people and their families who fall for this insanity. I hope this gives people a better perspective on things, on life.

[Kez1817]

Very sad! Always think that no matter how much you will lose in trading, it's just a money and you can get it back but our life is only one and we can't take it back if we lose it. Be a responsible trader no matter what the market bring to us or whatever will happen to our assets. Always be a risk taker in terms of trading and investing but never risk your life for this.

[Dewi Aries]

Feel sorry for him. I seen some posts about people's losses when last dump in social media. People should be aware for capital, because sometimes they get beginner's luck and then all in with all of their assets because they already think they can get big profit in trading, that is totally a mistake. Trading is something complicated like we should learn it and master it in both analysis and emotion so not ended with bad things.

[Mahanton]

Feel sorry and sad for his loved one that he had left on.This is a sad story on someone who havent able to control up his emotions and i know that it isnt really that much
simple to take when your life savings was risked on a particular trade but it isnt really just right for someone to consider on putting all of his finances on a single trade.
You wouldnt know on whats coming and this is one of the probabilities since this market is way too unpredictable.Set always some risk management plans whenever
your plan A would fail then theres always should be some Plan B's so that you wont really be put up into a situation as you dont have any choice left for you to take.

[Fivestar4everMVP]

This is really sad and hard to believe, but no matter how unbelievable this sounds or looks, the fact remains that things like this happen almost on daily basis around the world, I feel really sad right now for guy who took he's own life, thats the worst thing that can happen to any human being, suicide should never be considered no matter how bad the situation is, talking to people around you or family members, even friends can heal any wound no matter how deep.
Last year in my country, a professional doctor was driving over a very long bridge of a big river, all of sudden, he packed his car, got out, walk over and jumped over into into the river, when people discovered, a rescue team was sent to go in search of the doctor but before they found him, he was already dead, no body anywhere, not even in his office/hospital knew anything as to what could possibly be the reason why the doctor took he's own life.
No matter the problem, talk to people, suicide is not the best option and it's never a solution to any problem.

[boyptc]

I've read it with sadness. I think I've read a handful of stories like this that they've taken their own lives related to the crypto market.

That's why I know I can't handle the losses if I'll go leverage and that's the reason why I'm sticking to the spot market which is easy to adjust and for which, I can bear the losses.

Sorry for the loss of his family.

[taufik123]

trading based solely on FOMO and news will only drive us crazy. Before trading, of course you have to know the basic imu of trading first and know the risks. If something like this happens that cost him his own life, that is not good and very unfortunate.
Leveraged trading is also very risky, if it is liquidated it will lose everything. Don't use money that you really need anymore.

I currently only trade spot, when the market is crashing like this and buying at high prices, all that needs to be done is HODL.

We must be responsible for our own choices.

[Oilacris]

We shouldnt really risk out the amount that we cant afford to lose and its really a bad idea to bet your life savings into a market which is way too volatile.

You would really be boggled up with pressure and emotion and asking out on where you should begin after you had been liquidated.

Its sad to hear and read up these kind of stories into those traders or investors who had been wiped in the market due to extreme volatility.
This is one of the possible scenario for someone who dont mind up about financial management.

[tvplus006]

...Anyway, margin trading is more stressful than just doing it on the spot market. I've seen pro traders share the analysis but they don't really engage in margin trading and it's all because the capital can easily get liquidated when the market goes against the position.

Margin trading can lead to the liquidation of the balance and as a result, the trader can get a lot of stress, which can lead to rash actions. But those traders who trade on the spot market are also subject to stress when they see that the value of an asset falls in terms of the dollar and consider the lost profit as a loss.

[Kittygalore]

I have read this story because it was shared by my friends on social media and I think that what he did at the time was a bit dumb because he put everything all in in that leverage but considering that he went to go to this length meant that it left a drastic effect on him and left him with no hope. Condolences to the ones he left behind.

[death69]

Not sure whether it is true or not but it is really sad when you lose all of your balance in just a blink of an eye. I have been a trader for many years and I did encounter 2 times when I lost all of your money because of reckless enter a trade without consider the risk I might take,

Honestly, I do not want this information to be true. It is painful even to an experienced trading like me. This bullrun drives the world crazy in various sides. I just try to not be engrossed in because I know once I lose the control, I will lose everything

[geegaw]

Not sure whether it is true or not but it is really sad when you lose all of your balance in just a blink of an eye. I have been a trader for many years and I did encounter 2 times when I lost all of your money because of reckless enter a trade without consider the risk I might take,

Honestly, I do not want this information to be true. It is painful even to an experienced trading like me. This bullrun drives the world crazy in various sides. I just try to not be engrossed in because I know once I lose the control, I will lose everything

The bull market is a stimulus to buy more tokens at high prices, eyes always twinkling on profits and daily encouragements about the next price levels to be reached, an enchanting picture is drawn and has made many people fall quickly into cold ice tunnels, instead of trying to adjust the opportunity in the first small dumping, they are constantly trying to stick to the fundamental recovery. A few days after the imbalance activates, their account also activates self-destruct process, quite painful for the too narrow and immature views from quite a few young investors

[Johnyz]

Same old stories where people put everything in one basket and when the market crashes, they’ll lose everything, I feel sad every time I hear this kind of story as well, I can’t imagine spending much money in trading that will just lose within a day. This is a big mistake that we should avoid all the time, don’t lose hope and don’t ever take your own life just because of money because you can always earn that.

[teosanru]

This is very sad news to hear. I sometimes feel so angry at the people who manipulate the market in such a manner knowing that many people will go liquidated and might lose their life savings. Everyone knows that these types of manipulations are very carefully crafted by the whales and they knowingly liquidate a certain set of people but what they forget while earning money is that this dump might have caused the deaths of so many people. This is just one story. But yes all of the remaining folks should take a great lesson from here. Exchanges are manipulative and they are the main people involved with these whales. You are trying to earn money by trading on their exchange and you have to win against them only so make sure you are always extra cautious. Also as I always say stop losses fed into the system should be a necessary thing that every trader should do. It's okay having lost an opportunity than to lose your entire capital.

[Natsuu]

We can't really understand the real scenario as we don't know how much he struggles, and his emotional stress.

Maybe he sees the crypto as his last hope for success, hoping, wishing, and putting it all in it.

Rest In Peace

[boyptc]

Same old stories where people put everything in one basket and when the market crashes, they’ll lose everything, I feel sad every time I hear this kind of story as well, I can’t imagine spending much money in trading that will just lose within a day. This is a big mistake that we should avoid all the time, don’t lose hope and don’t ever take your own life just because of money because you can always earn that.

True.

There are investors and traders that cannot take the emotional hit whenever the market goes the opposite that they are. If it's related to money then it could be his dream and goal to change his life forever.

But within just a flash of a moment, those were gone and he finds no hope on it.

[JooBra]

It is really sad to hear stuff like this. I hope stuff like this don't happen anymore. Please people learn from other people mistakes and invest only what are you comfortable to lose.

[Hypnosis00]

We can't really understand the real scenario as we don't know how much he struggles, and his emotional stress.

Maybe he sees the crypto as his last hope for success, hoping, wishing, and putting it all in it.

And that he was wrong. We know the risk in trading, we know that we can't find 100% assurance of market returns. He supposedly thinks that thing before. Too hard to imagine a person doing like this and one common reason is that they can't take the stress anymore leading to suicide.

Or what if that money is coming from a loan and he can't pay anymore makes him decide to take his life. What makes it difficult into his situation is that he never tells what he feels.

[janggernaut]

This is not a first time we have heard about this kind of suicide because trading. My condolance for his family.
The reason was because he was trade with leverage, which can make your investment down so deep just because the dump which actually not too huge, but it can make you bigger profit too if it's get pump. As we noticed, the price was pumped from $30k to $40k, but now it's down again.

Crypto is very volatile, never ever think you can invest with loan money or your daily expense money, soon you will regret arter doing that