A trader lost over $1 Million + on Binance Future trading

[Hazink]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

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[cryptoWODL]

We all know trading is risky but among them futures trading is the most risky. Many times despite having experience one cannot succeed in this futures trading. This is why futures trading is often compared to gambling. There is more risk in futures trading than there is in gambling. I believe the words you mentioned about futures trading because I have involved myself with futures trading many times for which I have full experience.

I was trading a coin futures that I took two x long. Then a few minutes later I got a message from Binanch and sent a dollar full of consolation to my account. Maybe those who traded futures on the Binance exchange may understand that when they liquidate, they get a dollar back as consolation. When I got liquidated in futures trading, I vowed that I would not be involved in futures trading again because this trading can make people rich overnight and make them lose money overnight.

[BitMaxz]

That is super risky why did he invest in Meme tokens like Pepe it does not have any use and the thing here is he doesn't know how to use a stop-loss.
I see many traders got liquidated recently on the chart and almost billions were liquidated in two waves yesterday.
What I see here he does not have knowledge about risk management which is why he lost everything.

And correction its not feature trading it is futures trading.

[KingsDen]

I do not have an idea on how to trade futures, but with the little research I meant about future trading, I concluded that it is a kind of gambling. And it is only those who are mentally strong and emotionally rugged that goes into features with such amount of capital.

That is super risky why did he invest in Meme tokens like Pepe it does not have any use and the thing here is he doesn't know how to use a stop-loss.

He used a meme coins because I guess it is more volatile and such can give faster profits. Maybe, he didn't use stop loss because his capital was much and as such he didn't think he could be liquidated.

What I see here he does not have knowledge about risk management which is why he lost everything.

It might not only be risk management but over confidence of the trader.

[taufik123]

I do not have an idea on how to trade futures, but with the little research I meant about future trading, I concluded that it is a kind of gambling. And it is only those who are mentally strong and emotionally rugged that goes into features with such amount of capital.

It's like gambling if you look at how the process is, just do a guess and place a bet with 3x, 10x or even 100x leverage.
If the guess is wrong and the price is far from what was guessed, then Liquidation will occur and everything will be lost.

But many beginners make the mistake of using high leverage to get bigger profits but also go all in for futures trading, it is even a stupid long-term trading decision.
A professional alone will not use all his money for futures trading, let alone use too high leverage.

That is super risky why did he invest in Meme tokens like Pepe it does not have any use and the thing here is he doesn't know how to use a stop-loss.

He used a meme coins because I guess it is more volatile and such can give faster profits. Maybe, he didn't use stop loss because his capital was much and as such he didn't think he could be liquidated.

Expect to take a lot of the difference that occurs when PEPE price fluctuations move, but if you don't use Stop Loss, then it will be disastrous.
His fault was also that he did not monitor the trades made.

But it would be foolish to lose $1 million in assets because of futures trading in memecoin.

[mindrust]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

Play stupid games, win stupid prizes.

He was long... on PEPE which is the shitcoin of all shitcoins. It is the same thing as playing dice on your favorite online casino, with leverage. What was he expecting? Markets go up, he wins, markets go down, he goes bust. Hopefully he didn't make that $1m from spot trading. Otherwise that would have been even sadder. All that hard work gone in a matter of seconds.

Huge market movements like these delete all these fools from the game.

[Zaguru12]

That is super risky why did he invest in Meme tokens like Pepe it does not have any use and the thing here is he doesn't know how to use a stop-loss.
I see many traders got liquidated recently on the chart and almost billions were liquidated in two waves yesterday.
What I see here he does not have knowledge about risk management which is why he lost everything.

If you look at the leverage (3x) used I will say it wasn’t even that high compared to what other traders use and then open a very large position on the trade something like $300k as capital, what I sense is there was no stop loss at all or the Stop loss was way below the total capital in the exchange/broker. He might have also used an isolated margin also to get liquidated. He definitely was lacking risk management or might be just a pure gambler to to risk that amount on such volatile coin

[Hazink]

That is super risky why did he invest in Meme tokens like Pepe it does not have any use and the thing here is he doesn't know how to use a stop-loss.
I see many traders got liquidated recently on the chart and almost billions were liquidated in two waves yesterday.
What I see here he does not have knowledge about risk management which is why he lost everything.

And correction its not feature trading it is futures trading.

The higher the volatility, the higher his chance of making a profit. He never predicted the market to go sideways the way it did, and all this happened when he was not online, according to the story, and he has been in the crypto space since 2017 (still according to his statement), which is enough time for him to understand that the market doesn't work in one's favour all the time.
 
The most funny part of it all is where he said he didn't even have up to $1000 in his personal account, which means he gambled with his life savings and all went down in just one trade.
 


Side note: Thanks for pointing out the error; corrections have been made.

[Adbitco]

Here is where the problems lies most people are too confident with their trading because they felt the market is on the bull trend therefore it would be hard for them to incur much lost, feature trading is one of the most risky types of trading and from what I understood there is no stop-lose set for the trade. Unlike spot trading where one can easily control their trades, although is hard to believe this but sometimes we have to accept the risk associated with trading that is why we must get prepared in any form of trading we are going into today. Just imagine how someone uses a night to lose his wealth he has been building for the past 7 years just of a simple mistake he did without putting a spot-limit.

[Wapfika]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

This guy forgot the use of stop loss which is the number one tool needed on futures trading. I’m surprised that he can risk 1M with x3 leverage on a highly volatile asset like PEPE without any stop loss.

He is the favorite customers of exchange because they have huge money while doesn’t know what he is doing. Manipulation is very popular in crypto since exchange is not thoroughly regulated. A simple price swing both side will liquidate asset that use a leverage without any stop loss.

[KingsDen]

That is super risky why did he invest in Meme tokens like Pepe it does not have any use and the thing here is he doesn't know how to use a stop-loss.

He used a meme coins because I guess it is more volatile and such can give faster profits. Maybe, he didn't use stop loss because his capital was much and as such he didn't think he could be liquidated.

Expect to take a lot of the difference that occurs when PEPE price fluctuations move, but if you don't use Stop Loss, then it will be disastrous.
His fault was also that he did not monitor the trades made.

But it would be foolish to lose $1 million in assets because of futures trading in memecoin.

I remember when I was new in the cryptocurrency industry, when I was scammed consecutively online. It was easy for me to send $1,500 or $2,000 to people. At a time, I realised that if I changed the money to fiat, it will be so difficult for me to count such amount of money, which is in millions in my currency and give to someone I don't know online. With this same analogy, it would have been difficult for this man to use 1 million dollar in fiat nature to trade. But I will be so easy to wire it from portfolio.

[taufik123]

I remember when I was new in the cryptocurrency industry, when I was scammed consecutively online. It was easy for me to send $1,500 or $2,000 to people. At a time, I realised that if I changed the money to fiat, it will be so difficult for me to count such amount of money, which is in millions in my currency and give to someone I don't know online. With this same analogy, it would have been difficult for this man to use 1 million dollar in fiat nature to trade. But I will be so easy to wire it from portfolio.

At the end of the day it is about the realization that whatever it is even in the form of crypto Assets, Fiat is all very valuable according to its value.

I also sometimes make foolish actions by investing in memecoin without thinking that the nominal I invest is quite large around $1k-$2k,
and yes just like you, it will be worth millions and quite a lot of fiat money that I will hold for the needs of my life.

Now I am beginning to learn to appreciate everything that is valuable, look more at how it is produced and certainly do not commit foolish actions by trading futures without knowing the knowledge and investing in new projects that are not clear.

[GbitG]

Hmm That's pure foolishness in my opinion. You can't take futures trading for granted. Firstly, he didn't set a stop-loss for his trade which is why he got liquidated and lost everything, secondly, he was doing it on a meme coin  which we know is extremely volatile and even an exchange would warn you about this when you are going to make a trade in such cryptocurrencies so that you understand  how volatile and unpredictable they can be.

One more thing is that he had all the money he had invested in a single trade which is even more foolish. You can't put all your eggs in one basket and then regret when they are broken. One should have only a portion of their holdings in an exchange for trading so that even if they lose that, they don't lose everything.

[Gladitorcomeback]

The market gave him an unpleasant surprise, lol. 

I can't even imagine how it must feel to go to bed having a million dollars in your account and waking up to having nothing as all of it is gone, it's lost. This is a classic example of why one shouldn't put all their eggs in one basket.

Someone investing or having $1m in their account can't be a beginner, so I wonder how he didn't take any precautions while having such a large trade open. It's understandable that he wasn't expecting Bitcoin to dip so much all of a sudden, but then again, we know how unpredictable the market is.

[Alone055]

Have been using cryptocurrencies since 2017 and still had all his money in a single trade without any stop-loss or anything, he is an experienced newbie as it seems because someone who has been around for quite some time already should know how things work and if you have $1M in Binance, you should be able to determine how futures trading works and what actions must be taken for each trade, otherwise, a simple mistake can cause you this much damage and you will be left with nothing at all.

We need to learn a lot of lessons from his mistake, first one is not to be too confident about anything you do because things can always go against you, the second one is to adopt diversification all the time, and the third one is always leave something behind to avoid getting in too much trouble in case things don't go the way you have wanted them to go.

He was a millionaire a few hours back when he was awake, and when he woke up after sleeping, he found out that he wasn't a millionaire anymore. That's how unpredictable and unfair life can be sometimes. 

[GreatArkansas]

I can't even imagine how it must feel to go to bed having a million dollars in your account and waking up to having nothing as all of it is gone, it's lost. This is a classic example of why one shouldn't put all their eggs in one basket.

Exactly! Maybe this trader is really not a trader, he could be a gambler or something playing only and joking on 1 million dollars.
Because if you are a trader with an account size of this (just for me) this is already huge to me and seems I can't sleep with there is active trade open even there is a stop loss 

[MusaMohamed]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

Someone can believe in themselves and their trading positions that with low leverages like 2x, 3x, they will not be liquidated.

The example above shows that risk always exists when you use leverages no matter the leverage you use is low or high. When you use an leverage, it contains risk and risk only is smaller or bigger depends on low or high leverage chosen. In normal days when the market is normal, does not have high volatility, low leverages will make you feel it's safe.

It misleads you that you can sleep well over night in every night but it is untrue. Nights when market has high volatility, you can sleep well but when you wake up, you will see your account was liquidated. Nightmare occur during your 'well-slept' night.

[adaseb]

3x might be safe for perhaps bitcoin. But never altcoins. He most likely longed at 0.006 and was liquidated when it hit 0.004 which is a 33% losses and under 3x long that’s enough to liquidate someone.

Very crazy to have such a huge position and only $1000 in your bank account. This is why you shouldn’t believe all those promoters which show their 6-7 figure gains, many of those can be just as easily lost.

[Hamza2424]

Binance features trading. am I unfamiliar with this term, haha I know it is a typo error, anyway $1M is not a big amount hehe when it comes to one of the biggest losses in the market, people lost millions in futures just because of their dumb decision, TBH when its comes to Future you need to be always ABC, always be careful because things are not easy there, first of all, the market is volatile and secondly on the high leverage there's a high risk to reward ration.

Risk management requires expertise there, with a lowly risk magnet and undisciplined manner you can never win in futures trading also I consider it haram because of some religious restrictions on the financial system.

[poodle63]

the risk that accompanied with future trading, if you got rekt then you're rekt for good there's nothing that you can do to prevent yourself from losing meanwhile with spot trading people can just wait until next opportunities even if it took years so long someone can get their money back from the unrealized loss, they're fine, thats the perk with spot trading but definitely not with future, high leverage means you lost your money faster, not to mention that the market keep having price swinging means we are really vulnerable to losing money just within a blink of an eye, but people still favour future since as I've observed many people only allocate 1-3% of their money to future trading only the reckless ones are just going full to the future trading with 25x leverage like above that gonna have miserable end, but also could have really lucky trade if the coin somehow increases.
but overall, is it worth getting that small chance of becoming riching within a night by risking entire wealth in one go? I think not.
over leveraging is just reckless in my opinion.

[Yamane_Keto]

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

That's right, you can't be 100% liquidated on Binance, it is 83%, That user has updated his status and now I think some may question the whole story as it has been in circulation since 2017 and yet opens 3x long in PEPE.

[Wind_FURY]

Haha, he was going to lose that money sooner or later.

- He has $1,000,000 of investment capital and kept it all in Binance.
- Although he has seven figures, he uses high leverage.

With seven figures, there wasn't a need for him to trade with high leverage considering the volatility of cryptocurrencies. Pretend he merely HODLed Bitcoin starting today. Let's go back to this topic on 2026.

[Beparanf]

Haha, he was going to lose that money sooner or later.

- He has $1,000,000 of investment capital and kept it all in Binance.
- Although he has seven figures, he uses high leverage.

With seven figures, there wasn't a need for him to trade with high leverage considering the volatility of cryptocurrencies. Pretend he merely HODLed Bitcoin starting today. Let's go back to this topic on 2026.

X3 is not a high leverage but rather he just use a very volatile asset that can decrease value with greater than 50% and above in a short period of time that’s why he suffer this kind of liquidation.

He or everyone else shouldn’t leverage on meme coin because you will surely suffer liquidation or frequent stop loss due to its strong price swing both times ways. I never experienced being liquidated on this low leverage trades because I only trade top altcoins and Bitcoin that doesn’t have a terrible volatility compared to memecoin. Memecoin is the worst coin to choose on futures trade.

[LogitechMouse]

Reference
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I did looked at the post, and this is what got me:

The process of accumulating wealth took years, yet it vanished in a single night.

This is for me the reason why I choose to be a conservative investor even though I'm still at my mid-20's which is considered young. You can spend years creating your wealth, making the correct decisions, and mitigate losses as much as possible, but one wrong decision that you will make can cause your wealth vanished like what the OP has shared. TBH, if this happens to me, I might take the worst decision that I can make which is the capital S.

Well, the "GUY" has only 1 option and that is to "move on, move forward, and adjust". Suicidal isn't an option on this one. If he manage to earn a million in years then I believe he knows how to do it again. I believe he can earn a million again in years because he already did it. He knows what to do, and with this mistake by him, he will learn from it and make better and less riskier decisions.

I'm just wondering why he is keeping a million on Binance, and why he isn't considering cashing out a huge portion of it. Hmmm I guess greed got him as well.

[TelolettOm]

It is surprising that someone who has been in crypto since 2017, using $1 million to gamble with meme coins in Binance future trading. If he learned much since 2017 and got experience with meme coins, he mustn't spend $1 million for meme coins. Even worse, he spend the money in future trading. I'm a bit confusing with him, why he didn't to use the money on safe coin like Bitcoin and choose spot trading.  

But many beginners make the mistake of using high leverage to get bigger profits but also go all in for futures trading, it is even a stupid long-term trading decision.

He isn't a beginner anymore, he has joined crypto since 2017. He seemed not doing trading but he invested the money in meme coins. Honestly, it is a very careless way in trading for an experienced trader. I think someone who has been trading in crypto since 2017 must be wiser. Even he wants to gamble with meme coins in future trading, it shouldn't be with $1 million.

[michellee]

He had been too bold by using all his money to trade futures. He might use Cross mode instead of Isolated because in Cross mode, all his money would be used for trading.

This is a very valuable lesson for all of us. We must allocate an amount of money that we can afford for trading. By allocating funds, we can avoid large losses like what he experienced. We don't need to use all the money to trade, especially if we are not very good at trading.

The risks in future trading are very large, so people must be able to manage their funds. Don't be greedy in chasing victory, especially if market conditions are unstable.

[ajiz138]

He woke up poor because he was liquidated due to futures trading without stop-los, really greedy for putting all his $1M in futures trading.
What he did was really bad, he didn't have money in the bank he just relied on risky trading but he didn't care before the incident, after losing he must regret what he did.
This is shitcoin / meme easily fluctuates high compared to bitcoin, even though it is only 3x long, the potential for liquidation is quite large, the point is that he did not do the right management.

[BABY SHOES]

Why would he bet all the money on PEPE with a long 3x if he intends to turn $1M into $2M? It's so crazy that you can't imagine losing it just like that especially since he started in 2017.

This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.

Could it be said that he is so greedy? Or did he just forget to put a stop-lose?

[livingfree]

You've been on crypto for 7 years, you've collected a lot from your trades and won them hardly. And on an instant, you're going to do something like that?

I'm not sure if it's just me that doesn't buy the story. Everything that can be made on Twitter can be made-up to gain more following and engagement and on his end, he's able to do that successful.

What's the twist of the story? He's gained back around $180k+ because he's not 100% liquidated but said like around 83% only. I'm confused and that's why I'm not buying it although if it's Binance not liquidating 100% but there's still some things that don't click on my mind.

[stomachgrowls]

Why would he bet all the money on PEPE with a long 3x if he intends to turn $1M into $2M? It's so crazy that you can't imagine losing it just like that especially since he started in 2017.

This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.

Could it be said that he is so greedy? Or did he just forget to put a stop-lose?

Even on that 3x long wont really be guaranteeing that you are on safer side comparing into those who had put up that 100x or 125x.  

We do know that each one of us would really be having our own bets and coins that we do really believe that going up to the moon, it is really just that this trader become that too confident with $PEPE
without even trying out to look about the probabilities of drop considering that we are approaching the halving event of Bitcoin. Some do really that become that too confident on their long positions
without even considering that those corrections on which it did really happen.

Even if you do really have that 3x long position but you would really be still that liquidated if the market would turn south.
This is the thing i dont like with futures comparing out to spot of course.

[Assface16678]

Why would he bet all the money on PEPE with a long 3x if he intends to turn $1M into $2M? It's so crazy that you can't imagine losing it just like that especially since he started in 2017.

This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.

Could it be said that he is so greedy? Or did he just forget to put a stop-lose?

Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.

[Wind_FURY]

Haha, he was going to lose that money sooner or later.

- He has $1,000,000 of investment capital and kept it all in Binance.
- Although he has seven figures, he uses high leverage.

With seven figures, there wasn't a need for him to trade with high leverage considering the volatility of cryptocurrencies. Pretend he merely HODLed Bitcoin starting today. Let's go back to this topic on 2026.

X3 is not a high leverage but rather he just use a very volatile asset that can decrease value with greater than 50% and above in a short period of time that’s why he suffer this kind of liquidation.

He or everyone else shouldn’t leverage on meme coin because you will surely suffer liquidation or frequent stop loss due to its strong price swing both times ways. I never experienced being liquidated on this low leverage trades because I only trade top altcoins and Bitcoin that doesn’t have a terrible volatility compared to memecoin. Memecoin is the worst coin to choose on futures trade.

Perhaps not, but he still lost $1,000,000 for using leverage on a shitcoin. It was probably "OK" for an individual to take a long position in a shitcoin with leverage if you want to gamble and grow your investment capital to four or five figures. But if you ask me, if you reach six figures that's probably the point that an individual should stop trading shitcoins on leverage and start HODLing positions in Bitcoin/high-value altcoins.

[batang_bitcoin]

With that refund he got, he's likely to lose them again. Why? Because the thought that he's got on his mind is the revenge recovery, he's gone too far and lost over $1M with his entire stay on the market but then, the likely refund that he's got wouldn't be enough for him to accept if he's not going to accept it with his ego. But if not and if I am wrong then it's best for him to stick to a recovery plan in a safer mode and have a safer approach in trading.

[armanda90]

Don't see on one side only about $1 million lost over in Binance but also looking the other side with the user put short position earned more $1 million, I think when some trader put long position in other way has trader earn benefit by opening short position and earn much profitable after market get crashing.
All future traders understanding well with high risk and high return with future trading, we can see million dollar lost over with future trading when market pump and dump immediately. If want to get much profitable with future trading have large fund to protect more far away with price liquidation, I think after market crashing down many future trader will set up for opening long position with potential more profitable earn when bitcoin recovery to higher price.

[joeperry]

I saw that a few days ago and I really can't believe it. I wouldn't take risk a million dollars doing futures and on a meme coin, that's really risky. As practiced, we should practice using stop loss feature use only around 5% - 10% of our total bankroll every trade but I think that user didn't really expect a crash but still, with that kind of money he should at least put a stop loss, that was really an expensive learnings for him.

I think he has around $1000 in his account from the million he has.

[BABY SHOES]

Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.

Inexperienced? He's been in crypto for over 7 years and has made $1M try if I do it probably won't reach that number, I think he has been experience so he can make a lot of money in crypto.

But this is his own fault that I think all his assets are in PEPE not diversifying, then he traded futures without stop-loses or he forgot? I don't know what happened exactly.

This is clearly a fatal mistake, the money that has been lost a lot is unlikely to come back again in a short time, but that's the risk in futures will be liquidated if not doing a good enough discipline.

[QuinielaPosible]

Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.

Inexperienced? He's been in crypto for over 7 years and has made $1M try if I do it probably won't reach that number, I think he has been experience so he can make a lot of money in crypto.

But this is his own fault that I think all his assets are in PEPE not diversifying, then he traded futures without stop-loses or he forgot? I don't know what happened exactly.

This is clearly a fatal mistake, the money that has been lost a lot is unlikely to come back again in a short time, but that's the risk in futures will be liquidated if not doing a good enough discipline.

Having experience in crypto doesn’t shield anyone from the volatility and potential pitfalls. That's what happens when you put all your eggs in PEPE basket 

[Faisal2202]

I saw that a few days ago and I really can't believe it. I wouldn't take risk a million dollars doing futures and on a meme coin, that's really risky. As practiced, we should practice using stop loss feature use only around 5% - 10% of our total bankroll every trade but I think that user didn't really expect a crash but still, with that kind of money he should at least put a stop loss, that was really an expensive learnings for him.

I think he has around $1000 in his account from the million he has.

I think you are talking about that Crypto Nerd user on Twitter who shared his story that he invested $1.1 million dollars in Pepe and also used 3x leverage. And overnight he liquidated by market. But fortunately, he was refunded some money by the Binance. He got a refund of 17% so according to this he got around $180k amount.

I was also shocked to hear this news that why would a person open a future trade, in a meme token, and without stop loss? I mean that's the big mistake that we all should avoid and he (the victim) was into crypto for more than 4 years I guess. Well, I am glad that he got some of his funds back and now he can resume his journey again, otherwise, he was talking about suicide.

PS: I didn't notice the OP post, directly jumped here silly me.

[Fatunad]

Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.

Inexperienced? He's been in crypto for over 7 years and has made $1M try if I do it probably won't reach that number, I think he has been experience so he can make a lot of money in crypto.

But this is his own fault that I think all his assets are in PEPE not diversifying, then he traded futures without stop-loses or he forgot? I don't know what happened exactly.

This is clearly a fatal mistake, the money that has been lost a lot is unlikely to come back again in a short time, but that's the risk in futures will be liquidated if not doing a good enough discipline.

Experience is something that will really be determining on how well you would really be able to sustain yourself or would really be able to make yourself that knowing on how to handle into this unpredictable space.
You wont really be able to reach up on a certain state if you dont really know on how to hover up yourself well. Once you do gain up that sufficient experience then it would really be an advantage but doesnt mean that
you arent that prone to loses such as this one. If he's that been doing trading for how many years but it cant be able to removed out the risks that he could bust up all the money he has. There would really be decisions
and choices that we do make out on will it would really be causing for us to huge up that loss of money but of course it would really be that basing up into your own choice because if you've seen yourself
that dealing with high leverage then you do know about the risks involved with it.

[Barikui1]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

First of all, you need to know that trading is not easy as most people think, but if you have the right knowledge on how to navigate your way in the market, then you will definitely comes out profitable, so don't be deceived by what most people will say that you don't need to be taught before you start trading, it's true that you can actually start on your own without anybody, but you will definitely get burn(liquidated) at some point for venturing into the futures markets with zero knowledge on how to navigate your way around it.

Lastly, in trading it's very much important to trade with a margin you can afford to lose, so that your emotions can be in check, so for him to be trading with a margin of one million dollars is a very high level of stupidity and incompetence, which he paid for his ignorance dearly, the best he would have done is to use like 0.50% of that one million dollars to invest in knowledge which would really have come in handy for him, and this liquidation would have been avoided.

[ndutndut]

It is surprising that someone who has been in crypto since 2017, using $1 million to gamble with meme coins in Binance future trading. If he learned much since 2017 and got experience with meme coins, he mustn't spend $1 million for meme coins. Even worse, he spend the money in future trading. I'm a bit confusing with him, why he didn't to use the money on safe coin like Bitcoin and choose spot trading.  

But many beginners make the mistake of using high leverage to get bigger profits but also go all in for futures trading, it is even a stupid long-term trading decision.

He isn't a beginner anymore, he has joined crypto since 2017. He seemed not doing trading but he invested the money in meme coins. Honestly, it is a very careless way in trading for an experienced trader. I think someone who has been trading in crypto since 2017 must be wiser. Even he wants to gamble with meme coins in future trading, it shouldn't be with $1 million.

This is an example of someone who is involved in the crypto world but cannot control his emotions which makes him greedy because he wants to get rich quickly and in the end loses everything. This is where we also learn that if someone knows about the crypto world from 2017, it doesn't mean they are an expert in the crypto field. The proof is that he is still trapped in coin memes, even though if he had known crypto for a long time, his wise choice would have been to invest in Bitcoin, or at least with $1 million that he could allocate to various coins, which does not mean putting all your eggs in one basket. The world of crypto is full of risks, if you make a mistake or take the wrong decision then in an instant you will lose everything. So be wise in managing your finances in the crypto world.

[poodle63]

This is an example of someone who is involved in the crypto world but cannot control his emotions which makes him greedy because he wants to get rich quickly and in the end loses everything. This is where we also learn that if someone knows about the crypto world from 2017, it doesn't mean they are an expert in the crypto field. The proof is that he is still trapped in coin memes, even though if he had known crypto for a long time, his wise choice would have been to invest in Bitcoin, or at least with $1 million that he could allocate to various coins, which does not mean putting all your eggs in one basket. The world of crypto is full of risks, if you make a mistake or take the wrong decision then in an instant you will lose everything. So be wise in managing your finances in the crypto world.

degens will always be a degens, most of the people trading meme coin are degens with high risk tolerance but definitely losing a million they will still gonna regret their previous decision because its not some measly amount, but as far as I know these people don't really like diversification of their portfolio because what they are seeking are fast profit and in fast paced manner.
there are many degesn who keeps betting on these meme coin putting thousands of dollars is just a small thing for them, so talking about reducing risk with them is just wasting time.
but as always if they know what they are doing, willing to risk that amount of the money and fully knows what the consequence that it has, its definitely gonna be fine.
they're doing the speculations here in hopes of making quick profit even leveraging 2x with meme coin i already considered crazy but these people just went 25x leverage.

[Hamphser]

This is an example of someone who is involved in the crypto world but cannot control his emotions which makes him greedy because he wants to get rich quickly and in the end loses everything. This is where we also learn that if someone knows about the crypto world from 2017, it doesn't mean they are an expert in the crypto field. The proof is that he is still trapped in coin memes, even though if he had known crypto for a long time, his wise choice would have been to invest in Bitcoin, or at least with $1 million that he could allocate to various coins, which does not mean putting all your eggs in one basket. The world of crypto is full of risks, if you make a mistake or take the wrong decision then in an instant you will lose everything. So be wise in managing your finances in the crypto world.

degens will always be a degens, most of the people trading meme coin are degens with high risk tolerance but definitely losing a million they will still gonna regret their previous decision because its not some measly amount, but as far as I know these people don't really like diversification of their portfolio because what they are seeking are fast profit and in fast paced manner.
there are many degesn who keeps betting on these meme coin putting thousands of dollars is just a small thing for them, so talking about reducing risk with them is just wasting time.
but as always if they know what they are doing, willing to risk that amount of the money and fully knows what the consequence that it has, its definitely gonna be fine.
they're doing the speculations here in hopes of making quick profit even leveraging 2x with meme coin i already considered crazy but these people just went 25x leverage.

There are people who do really love to gamble with degens and this is why on the time that they would really be able to see for a coin that still building up its hype then they would really be that tending to dive in.
The only thing that you should really be mindful is to take out profits on the time that you do able to make some nasty profits or having those multipliers. Leave some coins for moon bag and transfer into another project on which this is something that would really be that somewhat effective if you do hover yourself on degen or meme coin world.

If you cant be able to bare up with the risks then this market isnt for you and better stick into those well established coins or projects which is far more better than dealing with memes or degens
but actually i do find myself that enjoying into this field considering the risks is high and so as with the rewards. As long you could be able to bare up with the risks
then it should be just fine.

[Z_MBFM]

Future trading is very risky I was once very addicted to futures trading because I became very greedy. And slowly I lost $40k there then I gave up futures trading very hard.  This is a death trap for a trader. from here it is possible to make huge profits in a short period of time by trading with a small amount of money if an accurate prediction is made. But if the prediction is wrong, the trading fund is lost. It is very much like gambling so it is better to stay away from futures trading. and if one is interested then he should not spend too much money there. the op's story hit me hard because it reminded me of something that happened to me in the past

[Awaklara]

Future trading is very risky I was once very addicted to futures trading because I became very greedy. And slowly I lost $40k there then I gave up futures trading very hard.  This is a death trap for a trader. from here it is possible to make huge profits in a short period of time by trading with a small amount of money if an accurate prediction is made. But if the prediction is wrong, the trading fund is lost. It is very much like gambling so it is better to stay away from futures trading. and if one is interested then he should not spend too much money there. the op's story hit me hard because it reminded me of something that happened to me in the past

future trading has its appeal for traders. More people who are new to trading are interested in futures trading than learning spot trading. whatever the capital, it will not reduce the risk of future trading. especially if the trader places quite large leverage.
However, in trading, we can make profits and losses. we must be wiser in managing our trade. If you like trading, of course, we have to know our limits. Don't force the moment too much which makes us very ambitious to chase losses.

[Cookdata]

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

Binance don't liquidate traders 100%, this was a technical error because the liquidation usually stop around 85% and you will be left with the 15% which is fair. After the trader cried on X, the correction was made for him and the remaining assets worth $180k was returned. I guess he had a second chance to start over again and learn form his silly mistake.

I'm not sure I will take such kind of risk even on a spot trade, he obviously lack good knowledge of trading, you can't just opened position a million dollar of all your wallet, it doesn't make any sense. I repeat  even in a spot trade where there is no leverage, it doesn't make sense to trade a million dollar on a single trade, it would be wise diversify to reduce risk of investments. The more I look at the trader situation, I see him as a pure gambler and not a trader.

[lixer]

Binance features trading. am I unfamiliar with this term, haha I know it is a typo error, anyway $1M is not a big amount hehe when it comes to one of the biggest losses in the market, people lost millions in futures just because of their dumb decision, TBH when its comes to Future you need to be always ABC, always be careful because things are not easy there, first of all, the market is volatile and secondly on the high leverage there's a high risk to reward ration.

Risk management requires expertise there, with a lowly risk magnet and undisciplined manner you can never win in futures trading also I consider it haram because of some religious restrictions on the financial system.

No matter how much some people have lost in the market, $1m is still a big amount to be lost in a single trade because people lose millions of dollars in multiple trades at different times but losing $1m in a single trade is something different and it must make someone feel extremely bad and shattering, especially if the person losing that amount can't afford to lose it because as mentioned in the OP, it was all the money the person had.

This is why it is important for traders involved in futures trading to be vigilant and always have a close eye on the market and most importantly, have their risk-management at place all times because the market is extremely unpredictable and you never know what might happen in a few hours in this market.

[shield132]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

Sorry but when you open 3x leverage on memecoin and you go bankrupt, you deserve it! It's very risky to trade futures with high leverage, I tasted its awful flavour on myself and I am never going to trade futures with high leverage ever in my life. Binance is also known to pump and dump leveraged and futures trading coins. I'll tell you a recent example. 4 days ago BNB's lowest spot price was 508 BNB/USDT but lowest futures price was 489 BNB/USDT. This is a 4% difference, not a huge from one view but it's huge for people who trade with high leverage. That's how Binance makes money also.

[Lanatsa]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

Sorry but when you open 3x leverage on memecoin and you go bankrupt, you deserve it! It's very risky to trade futures with high leverage, I tasted its awful flavour on myself and I am never going to trade futures with high leverage ever in my life. Binance is also known to pump and dump leveraged and futures trading coins. I'll tell you a recent example. 4 days ago BNB's lowest spot price was 508 BNB/USDT but lowest futures price was 489 BNB/USDT. This is a 4% difference, not a huge from one view but it's huge for people who trade with high leverage. That's how Binance makes money also.

Its all business and this is how it works but it is really just that been done on less obvious manner on which you've said that they are really that indeed making money with this. Come to think that even
having those sudden crash or pumps on which making up that almost a billion dollars been liquidated or simply sweeping those SL's then you could really say that there's someone whose behind it.
For those who had been able to experience that leverage stuff and have a taste of that liquidated notification on your email and been able to experience that in short period of time then you would really
be having that kind of trauma which it would really be causing up for you to curse and not to touch up leverage trading into your entire trading career path. 

[Franctoshi]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

This isn't the first story of it kind in this space, I could remember we had such a sernario like this happened back then in 2022 , However,  This is what usually happens to people that doesn't take risk management and trading stops seriously, What are the trading stops there for, the stop lose which is there to protect a trader should the price not go in their favour or direction.

 This is really a sad situation losing everything in just one day, lastly there is a big lesson to learn here , for newbies or beginners in trading, your trading capital should be different from every other funds you have in your wallet.

[goaldigger]

Future trading is very risky I was once very addicted to futures trading because I became very greedy. And slowly I lost $40k there then I gave up futures trading very hard.  This is a death trap for a trader. from here it is possible to make huge profits in a short period of time by trading with a small amount of money if an accurate prediction is made. But if the prediction is wrong, the trading fund is lost. It is very much like gambling so it is better to stay away from futures trading. and if one is interested then he should not spend too much money there. the op's story hit me hard because it reminded me of something that happened to me in the past

This is true and if you are being too greedy, then you might ended up the to the same situation.
This is just one out of many stories about a trader being liquidated and yet many are still playing aggressively simply because this can also be rewarding especially if you predicted your position very well. Better to always have your target price and don't forget to set your stop loss level so you will not be liquidated.

[Wind_FURY]

Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.

Inexperienced? He's been in crypto for over 7 years and has made $1M try if I do it probably won't reach that number, I think he has been experience so he can make a lot of money in crypto.

But this is his own fault that I think all his assets are in PEPE not diversifying, then he traded futures without stop-loses or he forgot? I don't know what happened exactly.

This is clearly a fatal mistake, the money that has been lost a lot is unlikely to come back again in a short time, but that's the risk in futures will be liquidated if not doing a good enough discipline.

You're right, with an amount of his capital at $1,000,000, he should either be starting to diversify, OR if he wants to invest in just one asset - make that investment HODLing Bitcoin. And he didn't merely buy and held a shitcoin, he took a long position in a shitcoin perpetual contract WITH LEVERAGE. He may not be a newbie, but the mental insanity with what he did is real. He's a gambler, not a trader nor an investor.

[justdimin]

There are people who do really love to gamble with degens and this is why on the time that they would really be able to see for a coin that still building up its hype then they would really be that tending to dive in.
The only thing that you should really be mindful is to take out profits on the time that you do able to make some nasty profits or having those multipliers. Leave some coins for moon bag and transfer into another project on which this is something that would really be that somewhat effective if you do hover yourself on degen or meme coin world.

If you cant be able to bare up with the risks then this market isnt for you and better stick into those well established coins or projects which is far more better than dealing with memes or degens
but actually i do find myself that enjoying into this field considering the risks is high and so as with the rewards. As long you could be able to bare up with the risks
then it should be just fine.

That is a big "pandemic" at this point because it is happening all around the world and not just in one place. I do understand that we may not be looking at it like it's a normal thing, but it has become normal at this point because of how many people are doing it. I believe that we should be considering this as very normal and not really react differently to it.

I believe that we are at a stage where it is not that easy to "not lose", because too many people are doing it which makes others do it as well. I hope that people could get better at this, it will not be simple or easy, but it could take a while and could end up with a much bigger result in the end. We should consider how we could get bigger and bigger in the end to be much more profitable.

[leonair]

Future trading is very risky I was once very addicted to futures trading because I became very greedy. And slowly I lost $40k there then I gave up futures trading very hard.  This is a death trap for a trader. from here it is possible to make huge profits in a short period of time by trading with a small amount of money if an accurate prediction is made. But if the prediction is wrong, the trading fund is lost. It is very much like gambling so it is better to stay away from futures trading. and if one is interested then he should not spend too much money there. the op's story hit me hard because it reminded me of something that happened to me in the past

This is true and if you are being too greedy, then you might ended up the to the same situation.
This is just one out of many stories about a trader being liquidated and yet many are still playing aggressively simply because this can also be rewarding especially if you predicted your position very well. Better to always have your target price and don't forget to set your stop loss level so you will not be liquidated.

The high leverage system of futures trading makes a trader greedy. And due to greed, many people do future trading with over confidence and they end up liquidated their balance. Futures trading is as addictive and risky as gambling so futures trading should not be done unless you have the ability to lose. and if one is not an expert in trading then the future will be very scary for him

[boyptc]

The high leverage system of futures trading makes a trader greedy.

Not really that but the potential gain that traders will get with high leverage is what's making them greedy. If it's not about the high potential gain that they might get through futures, they won't do it.

And due to greed, many people do future trading with over confidence and they end up liquidated their balance.

This!

They're overconfident with what they know and can do about it. But starting 3x leverage, that's more than enough already and can be said as a high risk.

[BABY SHOES]

You're right, with an amount of his capital at $1,000,000, he should either be starting to diversify, OR if he wants to invest in just one asset - make that investment HODLing Bitcoin. And he didn't merely buy and held a shitcoin, he took a long position in a shitcoin perpetual contract WITH LEVERAGE. He may not be a newbie, but the mental insanity with what he did is real. He's a gambler, not a trader nor an investor.

If he puts his hopes on shitcoin then he is gambling for years, he is not making a healthy investment in a safe asset, say bitcoin, but he believes more inecoin in the hope that it can go up by using high leverage, this is the mistake they have been doing all year.

I can't understand how not a beginner does this ridiculous action, logically if I have that much, I might play in shitcoin 10% of total assets or below, I don't want to go crazy because of his own actions, ahhh but he will regret his mentality.

[moneystery]

trading using leverage is very risky in that at any time if traders are not wise in managing their trades, then they could lose all their money, as felt by the trader. 1 million dollars is not a small amount of money, it is quite a lot of money that can change someone's life. i don't know what the trader felt, but i'm sure that he was like a crazy person when he realized the loss.

hopefully this will be a lesson for all of us that futures trading is risky and only done by professionals + people who are ready to lose their money.

[gunhell16]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

I personally believe that it is possible to get a large amount of profit in one day in futures trading. But, as some say, we should know what is called risk management. Because if we don't know the correct use of it, it will really lead to a situation similar to the OP's topic.

That's a huge amount; the other ordinary people may be old; they haven't managed that amount yet; then they will lose in an instant in futures trading. Maybe the one who lost $1 million got into greed too.

[stomachgrowls]

trading using leverage is very risky in that at any time if traders are not wise in managing their trades, then they could lose all their money, as felt by the trader. 1 million dollars is not a small amount of money, it is quite a lot of money that can change someone's life. i don't know what the trader felt, but i'm sure that he was like a crazy person when he realized the loss.

hopefully this will be a lesson for all of us that futures trading is risky and only done by professionals + people who are ready to lose their money.

The best time that you would consider yourself on touching up leverage is on the time that you do find yourself that efficient when making up some spot trades on which we know that this is something
that will really be important or something that could give out that kind of handling when it comes to higher leverage trades on which we know that when it comes to this one it would really be that so
risky for someone to deal with. This isnt something that you could really be to bare up easily when it comes to risks management or factor. Even if you do consider yourself good with
spot trading but doesnt mean that you will be able to succeed on futures trading. You would really be needing to make out that kind of adjustments but of course to those who are good
at spot would really be having an upperhand in compared to those who do make out direct dealing.

[slaman29]

I see this story so many times, back in forex days and penny stocks days before I even used Binance, but the one that stuck with me was a guy who turned a few hundred dollars (which is quite a lot of money here) into a few million during the GME thing where he made a lot then invested in meme and nft tokens, but everything was on Binance, and he just kept trading and trading and then same thing. Leverage liquidated everything.

It stuck because he didn't lose money in the end, overall he still had a few hundred dollars because it was in stablecoin but he lost years, lost his job and life because he lived on his computer the whole time. But he saw millions... and yet never withdrew anything. Just got addicted trying to add more zeros because it seemed so easy.

Posted then deleted his account so nobody knows where he is or what he did. He just came in to tell people trading is never a happy ending if you think you make money from it, anybody can in a bull run, everybody loses when it's bear.

Just a friendly warning to anyone seeing loads of green now Trading seriously is not for most people and if you see traders posting to you about memecoin bonanzas just remember, their story hasn't ended yet

[poodle63]

There are people who do really love to gamble with degens and this is why on the time that they would really be able to see for a coin that still building up its hype then they would really be that tending to dive in.
The only thing that you should really be mindful is to take out profits on the time that you do able to make some nasty profits or having those multipliers. Leave some coins for moon bag and transfer into another project on which this is something that would really be that somewhat effective if you do hover yourself on degen or meme coin world.

If you cant be able to bare up with the risks then this market isnt for you and better stick into those well established coins or projects which is far more better than dealing with memes or degens
but actually i do find myself that enjoying into this field considering the risks is high and so as with the rewards. As long you could be able to bare up with the risks
then it should be just fine.

agreed with your statement degens usually also just hit and run, trying to profit off the meme coin and then cash out to find another meme coin its like a cycle but finding new meme coin that could make good profit is already as hard as it is so these degens are just actively sniping for the newest coin if not they always try to find info on the new meme coin that gonna emerge even following presale.
thats what being degen is, they just disregard risk management in order to get the most profit out there, its completely aligned with their idea of getting rich overnight tho since considering that there are some meme coin investor that indeed got rich overnight and most likely those that can do that and possibly have diamond hand are only degen.
personally im not that reckless i always asses for risk so that i won't be losing money but some people definitely have different idea on how they approach in making proft so such speculative
behaviour totally understandable on my end.

[AnonBitCoiner]

He isn't a beginner anymore, he has joined crypto since 2017. He seemed not doing trading but he invested the money in meme coins. Honestly, it is a very careless way in trading for an experienced trader. I think someone who has been trading in crypto since 2017 must be wiser. Even he wants to gamble with meme coins in future trading, it shouldn't be with $1 million.

Exactly we cannot call those as a beginner who have joined crypto trading since 2017 because he has spent many years in trading and hopefully a person can learn much better in such a time. Maybe he has not learned anything and in the whole time he just followed the opinions of others.

Meme coins are risky and doubtful coins so if one uses such a huge amount in meme coin then he has done the wrong thing and this may be due to greed or lack of knowledge. Traders should always focus on potential coins and meme coin does not have any potential to give you sure profit so if someone wants to lose money then they should choose meme coin.

[BD Technical]

Trade is like a tide trade actually those who do it now those who are behind it actually depends on luck because you see yourself if you are learning terel or if you are not spending time then you will never be able to earn.  Nowadays, many people are very successful in dating and earn a lot of money, but not everyone can do it.  What is luck? It is not the same luck given from above.  But in that case, not everyone can determine the fate and there are many people who are helped by fate and because they do things wisely, they are lucky. If you do it wisely, you are lucky.  He is however a los in training and like his love is very much dependent on luck.

[bitLeap]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

~~~

I've heard this story on X for a long time and it's true that he lost everything. I am sure that this is not the first time, but this loss is the biggest loss during his experience in crypto trading. It is important to know that in Future trading the risks are like that, since he decided to trade everything, the risks and conditions have been agreed upon. Don't blame other people, just blame yourself for being careless. As a trader, he must be responsible for all decisions taken, whether bitter or sweet, he must be able to accept them. Like it or not everything has become the main basis for trading.
Since that incident, has he stopped for a moment to calm down or instead used the remaining $1000 in his account to return to trading with the ambition to catch up on what he lost?

[Nwada001]

I've heard this story on X for a long time and it's true that he lost everything. I am sure that this is not the first time, but this loss is the biggest loss during his experience in crypto trading. It is important to know that in Future trading the risks are like that, since he decided to trade everything, the risks and conditions have been agreed upon. Don't blame other people, just blame yourself for being careless. As a trader, he must be responsible for all decisions taken, whether bitter or sweet, he must be able to accept them. Like it or not everything has become the main basis for trading.
Since that incident, has he stopped for a moment to calm down or instead used the remaining $1000 in his account to return to trading with the ambition to catch up on what he lost?

That has been proven to be a technical error, as Binance doesn't allow traders funds to liquidate completely.
 
It was later said that about $180,000 was later returned to the guys account, which is even for him to either start up with again with lessons learned or he could just move that out of his exchange account and focus on something else, because it will be very stupid of him if he repeats the same mistake again as he might not be able to come out of it again.

[_BlackStar]

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

I'm not saying that's a downside - but it's a risk that some traders probably ignore. There are many traders who really desire to become rich overnight - while they fail to understand when it is time to cut losses and remain silent so as not to be provoked by emotions.

The high leverage used not only allows traders to make large profits - but behind it also carries a high risk of liquidation. Beginners are never advised to use leverage above 2x - even experienced traders would not be too brave to use 10x and above if they knew how risky futures trading is.

[Bushdark]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.
This is a delicate type of trading which is different from spot trading that could be hard for one to earn non experienced traders to meet up. I mist see people using 100x to 500x to trade without even bothering about the risk it could pose to them if the market goes wrong from their predictions. I can't trade like this and I am very conscious about how I take signals to trade.

[AakZaki]

It was a painful and mentally disturbing event to lose $1 million just trading Binance futures. why should you be so careless in using all that money for trading, let alone using large leverage, that's a stupid act and without using a stoploss. no matter how much money you have, you will definitely lose it if you don't have good analytical and management skills. The liquidity risk is very large because the leverage used is also quite large, I'm not even too interested in futures trading because of the risks.

[Issa56]

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

I had some bad experience about future trading in the past, so I don’t really encourage people to trade futures. If you are a future trader and you have been making profits, don’t be surprised that whenever you will be losing, then you will lose everything you have made in the past. I don’t know why the person should even trade with that huge amount of money, you should trade with what you can afford to lose, and not trade with all your life savings.

I don’t just know why the person decided to trade futures with that amount of money, it doesn’t make sense to me, it’s better to trade on spot than trading on futures. If you are trading futures and you are doing that with a big amount of money, then you should make sure you set your stop loss incase if things goes against you, then it’s going to cut your loss.

[rojan]

Future trading is very risky I was once very addicted to futures trading because I became very greedy. And slowly I lost $40k there then I gave up futures trading very hard.  This is a death trap for a trader. from here it is possible to make huge profits in a short period of time by trading with a small amount of money if an accurate prediction is made. But if the prediction is wrong, the trading fund is lost. It is very much like gambling so it is better to stay away from futures trading. and if one is interested then he should not spend too much money there. the op's story hit me hard because it reminded me of something that happened to me in the past

I am very worried about my friend who is addicted to future trading. My friend is busy with future trading for several days. I have explained to him a lot that you will lose all money in future trading for small mistakes but he does not want to listen to me.  How can I remove him from future trading now please give me proper advice.

[Poker Player]

I see this story so many times, back in forex days and penny stocks days before I even used Binance, but the one that stuck with me was a guy who turned a few hundred dollars (which is quite a lot of money here) into a few million during the GME thing where he made a lot then invested in meme and nft tokens, but everything was on Binance, and he just kept trading and trading and then same thing. Leverage liquidated everything.

In the case of the protagonist of the OP's story, we do not know if the million he lost was accumulated in earnings. It seems more dramatic since he says he lost it all and it does not seem to be pure profits from trading on the site. In any case they act as degenerate gamblers, as has been said. I think we will have to start talking about degenerate traders.

[Bushdark]

Future trading is very risky I was once very addicted to futures trading because I became very greedy. And slowly I lost $40k there then I gave up futures trading very hard.  This is a death trap for a trader. from here it is possible to make huge profits in a short period of time by trading with a small amount of money if an accurate prediction is made. But if the prediction is wrong, the trading fund is lost. It is very much like gambling so it is better to stay away from futures trading. and if one is interested then he should not spend too much money there. the op's story hit me hard because it reminded me of something that happened to me in the past

I am very worried about my friend who is addicted to future trading. My friend is busy with future trading for several days. I have explained to him a lot that you will lose all money in future trading for small mistakes but he does not want to listen to me.  How can I remove him from future trading now please give me proper advice.

There is nothing you can do rather than trying to tell him to stop because the loses could be huge if care is not take.
Future trading can be very risky and one could lower all funds without a patient ability to stay days without trading just to observe the market and look for s better opportunity to enter and trade. It is very important for us to check very well before we make any decisions about trading especially in future trading that can could pose a big risk on us if we don't know how to balance up and trade.

[slaman29]

I see this story so many times, back in forex days and penny stocks days<>

In the case of the protagonist of the OP's story, we do not know if the million he lost was accumulated in earnings. It seems more dramatic since he says he lost it all and it does not seem to be pure profits from trading on the site. In any case they act as degenerate gamblers, as has been said. I think we will have to start talking about degenerate traders.

Yeah that's why I brought up my story. It's never clear how much people actually lost as net. Did they earn a lot of profit and then lost all of it? Then it's not really a loss. We say you only have profit or loss when you either lose your deposit, and close account, or withdraw to your bank Those were forex days anyway, realized profit/loss is not what you see in your account until you move it out.

Anyway, degen traders ARE degen gamblers. Sheep in goats clothing lol

[Lanatsa]

I see this story so many times, back in forex days and penny stocks days<>

In the case of the protagonist of the OP's story, we do not know if the million he lost was accumulated in earnings. It seems more dramatic since he says he lost it all and it does not seem to be pure profits from trading on the site. In any case they act as degenerate gamblers, as has been said. I think we will have to start talking about degenerate traders.

Yeah that's why I brought up my story. It's never clear how much people actually lost as net. Did they earn a lot of profit and then lost all of it? Then it's not really a loss. We say you only have profit or loss when you either lose your deposit, and close account, or withdraw to your bank Those were forex days anyway, realized profit/loss is not what you see in your account until you move it out.

Anyway, degen traders ARE degen gamblers. Sheep in goats clothing lol

Playing up with degen or memes or even with that 100-125x max leverage on which i could consider out to be gambling. Yes, you could really be able to apply analysis but doesnt mean that you could really be able to be that having a good grasps into it no matter how old or veteran you are on this space whether dealing up with crypto or with those traditional markets like Forex or stocks on which we know that
increasing leverage or even simply that increasing your lot size (forex/stocks) could really totally blown up someones account if you won't really be that careful.

I have seens tons of videos or reels that someone do make out some live trading. Setting up some huge amount of capital and made out some totally gambling-like leverage.
On the time that they are liquidated then this is the time that you would really be able to see those kind of regrets that they shouldnt have done this and that.
It would really be not always recommended even if you are old timer, how much more into those first timers?

[Essential10]

Since Pepe Coin is a meme it is undoubtedly a risky currency, trading in such currency is very risky. There are steps to take risk, it's really hard to lose $1 million just trading futures on Binance, I think this kind of activity is very stupid. If you go ahead with trading without knowing proper analysis, you will surely pay extreme price where you have already paid. He gambled overnight, when gamblers lose bets they lose patience and throw it all in and lose it all. If he had invested such a large amount in the top coin without trading and held it, he would have definitely made a huge profit.

[Wind_FURY]

You're right, with an amount of his capital at $1,000,000, he should either be starting to diversify, OR if he wants to invest in just one asset - make that investment HODLing Bitcoin. And he didn't merely buy and held a shitcoin, he took a long position in a shitcoin perpetual contract WITH LEVERAGE. He may not be a newbie, but the mental insanity with what he did is real. He's a gambler, not a trader nor an investor.

If he puts his hopes on shitcoin then he is gambling for years, he is not making a healthy investment in a safe asset, say bitcoin, but he believes more inecoin in the hope that it can go up by using high leverage, this is the mistake they have been doing all year.

I can't understand how not a beginner does this ridiculous action, logically if I have that much, I might play in shitcoin 10% of total assets or below, I don't want to go crazy because of his own actions, ahhh but he will regret his mentality.

In my opinion, and although we should encourage people to buy the DIP and HODL Bitcoin, it's actually understandable if plebs with a very small amount of capital decide to gamble in a shitcoin + leverage. But for an investor who has $1,000,000 and insists on trading shitcoins, which are already volatile, and doing that with leverage then he is gambling with his mental insanity.

Let's pretend he bought Bitcoin with an average price of $65,000 TODAY. Come back to this topic during 2025. I believe the investment would grow, and be worth at least $5,000,000 in fiat value.

[wxa7115]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

What did this person thought it could happen? They were trading a meme coin, using leverage and money they could not afford to lose, refused to use a stop loss and finally they kept their position open when they went to sleep.

So this is not really about a person that made a mistake and suffered because of it, he made several mistakes in a row and for what I can tell this was just the way he did things, meaning that given enough time this could have happen at some point unless he changed the way he approached the markets, a possibility that cannot happen now for obvious reasons.

[tvplus006]

It was a painful and mentally disturbing event to lose $1 million just trading Binance futures. why should you be so careless in using all that money for trading, let alone using large leverage, that's a stupid act and without using a stoploss. no matter how much money you have, you will definitely lose it if you don't have good analytical and management skills. The liquidity risk is very large because the leverage used is also quite large, I'm not even too interested in futures trading because of the risks.

I'm sure that's not all the money he lost. If the trader followed risk management, then he should still have sufficient capital left to continue trading and, accordingly, he has a chance to recover the lost coins.

[BABY SHOES]

In my opinion, and although we should encourage people to buy the DIP and HODL Bitcoin, it's actually understandable if plebs with a very small amount of capital decide to gamble in a shitcoin + leverage. But for an investor who has $1,000,000 and insists on trading shitcoins, which are already volatile, and doing that with leverage then he is gambling with his mental insanity.

That's good advice by buying DIP and HODL instead of small capital by playing gambling on shitcoin + leverage is the same as gambling, sometimes I like to wonder about people who have $1,000,000 assets in shitcoin do they do that because they have spare money behind? But what the OP means is that all his money is in shitcoin so gambling madness is true.

Let's pretend he bought Bitcoin with an average price of $65,000 TODAY. Come back to this topic during 2025. I believe the investment would grow, and be worth at least $5,000,000 in fiat value.

That's common sense thinking then we make sense with my own thinking.
But other people with $1,000,000 hope to $10,000,000 in shitcoin hahahaha.

[alastantiger]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

Investing in meme coin looks like fun for some people. They want to get in and be out but they are  really high risky investments and they hold little to no value. But then as we know, what we see is that a community gets behind them pumps it using social media platforms and then FOMO is at the back of their minds which is what is basically responsible for increasing the price. If you have ever gambled, then you will know that there is absolutely no difference between them. The unknown is high higher than the know and you are sure that the there is going to be significant losses when it eventually blows up.

[KingsDen]

I remember when I was new in the cryptocurrency industry, when I was scammed consecutively online. It was easy for me to send $1,500 or $2,000 to people. At a time, I realised that if I changed the money to fiat, it will be so difficult for me to count such amount of money, which is in millions in my currency and give to someone I don't know online. With this same analogy, it would have been difficult for this man to use 1 million dollar in fiat nature to trade. But I will be so easy to wire it from portfolio.

At the end of the day it is about the realization that whatever it is even in the form of crypto Assets, Fiat is all very valuable according to its value.

I also sometimes make foolish actions by investing in memecoin without thinking that the nominal I invest is quite large around $1k-$2k,
and yes just like you, it will be worth millions and quite a lot of fiat money that I will hold for the needs of my life.

Now I am beginning to learn to appreciate everything that is valuable, look more at how it is produced and certainly do not commit foolish actions by trading futures without knowing the knowledge and investing in new projects that are not clear.

It was in 2023 that I decided that I will no longer invest my money, even if it's a cent in anything I do not quite understand how it works. I have learnt that it is difficult to earn money, so if you cannot earn more, you learn to spend less and not be careless with your money. If I am not 70 to 80% certain that I will make profits from a certain project, no need to venture into it.

Since Pepe Coin is a meme it is undoubtedly a risky currency, trading in such currency is very risky. There are steps to take risk, it's really hard to lose $1 million just trading futures on Binance, I think this kind of activity is very stupid. If you go ahead with trading without knowing proper analysis, you will surely pay extreme price where you have already paid. He gambled overnight, when gamblers lose bets they lose patience and throw it all in and lose it all. If he had invested such a large amount in the top coin without trading and held it, he would have definitely made a huge profit.

Well, this could actually be what happened. What gambler lose upto 60 to 70% of their capital, they tend to lose patience and throw all in chasing losses. They will at that time forget that 30% of whatever amount is still a good money that can facilitate their comeback if well planned.

[Issa56]

Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.

Some people do claim they are professional trader, so they are always confident that they are not going to lose which is what’s always affecting some of them, when you are trading, you have to be careful, and always take precautions, don’t just trade freely because you have been trading for a long time, and I don’t really encourage people to trade on futures with such a huge amount of money. If you are trading you should do that with little amount of money, and if you are trading on futures, making use of stop loss is not really a bad idea.

[khiholangkang]

Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.

Some people do claim they are professional trader, so they are always confident that they are not going to lose which is what’s always affecting some of them, when you are trading, you have to be careful, and always take precautions, don’t just trade freely because you have been trading for a long time, and I don’t really encourage people to trade on futures with such a huge amount of money. If you are trading you should do that with little amount of money, and if you are trading on futures, making use of stop loss is not really a bad idea.

His mistake was not setting SL, therefore his money was all liquidated, this is a common mistake of beginners or people who are too confident, I think maybe he is a professional in investment but he is not good at trading futures that have leverage, I think it is not strange to lose a lot of money in future trading because yes the high risk is very high compared to spot trading.  And what's worse is that he used all his money, which means he doesn't have good risk and financial management in his trading activities, feeling confident is good but we don't know that there is a wormhole in our steps in front that can kill quickly.

This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.

[philipma1957]

That is super risky why did he invest in Meme tokens like Pepe it does not have any use and the thing here is he doesn't know how to use a stop-loss.
I see many traders got liquidated recently on the chart and almost billions were liquidated in two waves yesterday.
What I see here he does not have knowledge about risk management which is why he lost everything.

And correction its not feature trading it is futures trading.

he was likely spell checked ☑️

as for the loser of 1 million good for him a moron.

typical all or nothing mentality “nothing counts but more”

[Akbarkoe]

Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.

Some people do claim they are professional trader, so they are always confident that they are not going to lose which is what’s always affecting some of them, when you are trading, you have to be careful, and always take precautions, don’t just trade freely because you have been trading for a long time, and I don’t really encourage people to trade on futures with such a huge amount of money. If you are trading you should do that with little amount of money, and if you are trading on futures, making use of stop loss is not really a bad idea.

His mistake was not setting SL, therefore his money was all liquidated, this is a common mistake of beginners or people who are too confident, I think maybe he is a professional in investment but he is not good at trading futures that have leverage, I think it is not strange to lose a lot of money in future trading because yes the high risk is very high compared to spot trading.  And what's worse is that he used all his money, which means he doesn't have good risk and financial management in his trading activities, feeling confident is good but we don't know that there is a wormhole in our steps in front that can kill quickly.

This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.

Hemm too stupid for this kind of situation, I totally agree with what you said, feeling professional in a trade will make him impulsive an careless $1m is not small, people need to see why they can stay alive.
And what's worse he did it on meme coin, it's a crazy thing that doesn't enter my mind.


Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.

[traderethereum]

Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.

Some people do claim they are professional trader, so they are always confident that they are not going to lose which is what’s always affecting some of them, when you are trading, you have to be careful, and always take precautions, don’t just trade freely because you have been trading for a long time, and I don’t really encourage people to trade on futures with such a huge amount of money. If you are trading you should do that with little amount of money, and if you are trading on futures, making use of stop loss is not really a bad idea.

When people claim they are better than others, that's when they can fall because not everyone is who they think they are. A professional trader will always be careful in trading and not follow his passion to continue pursuing profits.
He will understand what he has to do and not force himself if he is already losing money on a trade. He will also use the stop loss feature to prevent larger losses and other features.
He also knows how much money he will use to trade and only uses money he can afford. That's a good way to trade and there are many more.

[Strongkored]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

Futures trades will be riskier than spot trades, even when the trader is an expert he is still likely to be liquidated 100% in futures traders and this is proven from this article because he has been trading since 2017, meaning he already has quite a lot of experience, my guess is he thought memecoin would be like it was a few years ago so playing in this very risky coin with a type of trading that was also riskier, it seemed like he was going all in and it was like gambling.
It was quite stupid to put 1 million dollars in assets in exchange even though he didn't have more than $1000 in his bank account.

[Wind_FURY]

In my opinion, and although we should encourage people to buy the DIP and HODL Bitcoin, it's actually understandable if plebs with a very small amount of capital decide to gamble in a shitcoin + leverage. But for an investor who has $1,000,000 and insists on trading shitcoins, which are already volatile, and doing that with leverage then he is gambling with his mental insanity.

That's good advice by buying DIP and HODL instead of small capital by playing gambling on shitcoin + leverage is the same as gambling, sometimes I like to wonder about people who have $1,000,000 assets in shitcoin do they do that because they have spare money behind? But what the OP means is that all his money is in shitcoin so gambling madness is true.

Let's pretend he bought Bitcoin with an average price of $65,000 TODAY. Come back to this topic during 2025. I believe the investment would grow, and be worth at least $5,000,000 in fiat value.

That's common sense thinking then we make sense with my own thinking.
But other people with $1,000,000 hope to $10,000,000 in shitcoin hahahaha.

Or buy a shitcoin on 3x leverage and hope for $30,000,000, then burn through the whole seven figure capital. How do people like that recover from such a very large loss? But there are those kinds of people, the gamblers who have the stomach to take risks, lose everything, but they stand up, try again, and gain back everything they lost + make outstanding profit.

But could that be you? Could that be me? Perhaps, BUT people like those are absolutely the exception. That's less than 2% out of the 100% who tried.

[tvplus006]

...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.

It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.

[armanda90]

His mistake was not setting SL, therefore his money was all liquidated, this is a common mistake of beginners or people who are too confident, I think maybe he is a professional in investment but he is not good at trading futures that have leverage, I think it is not strange to lose a lot of money in future trading because yes the high risk is very high compared to spot trading.  And what's worse is that he used all his money, which means he doesn't have good risk and financial management in his trading activities, feeling confident is good but we don't know that there is a wormhole in our steps in front that can kill quickly.

This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.

Its fatal mistake for future trader, not using Stop Loss feature for minimalizing low risk than have to get liquidation after market easily get crash immediately. I think bigger problem with future trading most people expected want to earn much profit in short term and use maximum leverage to get large opportunity with profit, but their margin not support yet when market crashing around 20% until 30% easily get liquidation notice at account.
Agree with your opinion, how long make research with some coins in the future always use stop loss feature get minimalize lower risk, still has second chance and capital to trade another coin in future and wish get more profitable. I don't know how long most of trader interested with future trading because every market crash thousand hundred trader loss much money and getting liquidation.

[fikrett]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

I’m really sorry to hear about your experience. You’ve encountered a harsh reality many face in the volatile world of futures trading. While it offers the potential for substantial profits, as you mentioned, the risks are equally significant.

Regarding Binance, it’s worth noting that while the platform does try to mitigate total liquidation by stopping out positions before they wipe out all assets, trading with high leverage can still lead to substantial losses very quickly. My personal take is that while platforms like Binance offer advanced trading tools and features that can be very beneficial, they also require a sophisticated understanding and an acute awareness of the risks involved.
Hopefully, this experience, though painful, can provide valuable insights for future investments.

[doomloop]

Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.

Some people do claim they are professional trader, so they are always confident that they are not going to lose which is what’s always affecting some of them, when you are trading, you have to be careful, and always take precautions, don’t just trade freely because you have been trading for a long time, and I don’t really encourage people to trade on futures with such a huge amount of money. If you are trading you should do that with little amount of money, and if you are trading on futures, making use of stop loss is not really a bad idea.

I have always heard from my elders that confidence is a great thing but being overconfident hurts you, and over time I have come to understand this very well is right, especially when we are trading. In spot trading, you are sure of one thing sooner or later you will get your money but futures trading is completely different from that, I consider future trading almost identical to gambling where when you invest your money, it is certain that either you will get double your money or there will be a complete loss, then it is up to you to decide that where do you want to stop.

I have seen that many times many people get lost in the cycle of too much. Before doing futures trading we should prepare ourselves that we should not be greedy for the profit even if it is small but there should be profit instead of losing our investment in the greed of more.

I believe that futures trading can only be done by experienced and knowledgeable people, especially those who can be patient.

[poodle63]

...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.

It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.

well it seems like he's really regretting his decision so that is not measly amount for him, as I've seen from his twitter if i still remember correctly he has gained $100k back and grateful for it and saying that he can do something with it which i assume he gonna take unaggressive approach of investing unlike before by getting too much greedy with leveraged investment into meme coin.
though personally if he invested in meme coin he should know the consequence before hand leveraging 25x against meme coin is no joke, the money could literally vanish just within a blink of an eye, when future trading we are talking short term price change and even if price change a little bit it already affect so much towards the capital, the leverage feature definitely come at cost for boosting the profit.
if the strategy taken is making us a loss, the loss won't be some small amount unlike spot trading but might cause us lost the money 75% at best scenario.

[arwin100]

...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.

It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.

well it seems like he's really regretting his decision so that is not measly amount for him, as I've seen from his twitter if i still remember correctly he has gained $100k back and grateful for it and saying that he can do something with it which i assume he gonna take unaggressive approach of investing unlike before by getting too much greedy with leveraged investment into meme coin.
though personally if he invested in meme coin he should know the consequence before hand leveraging 25x against meme coin is no joke, the money could literally vanish just within a blink of an eye, when future trading we are talking short term price change and even if price change a little bit it already affect so much towards the capital, the leverage feature definitely come at cost for boosting the profit.
if the strategy taken is making us a loss, the loss won't be some small amount unlike spot trading but might cause us lost the money 75% at best scenario.

No people will be fine in that situation and for sure that he regret all the decision he made since $1 million dollar is not a small amount. This is hard to earn when you trade so for sure that the person who's affected with this lose is devastated with what he's bad trades experience. So its really better for a lot of aspiring trader to learn a lesson from this huge losses encountered by some people so that they would be more careful in their future trades.

Also they should not select those tokens who consist a lot of risk and much better for them to deal with those top coins or altcoins in the market so that we will not easily got affected by fast changes happen in the market, especially on futures trading where everything is fast so we should be careful on the coins or tokens we choose to trade.

[Wind_FURY]

...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.

It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.

🤔

That's actually a very good point that you made. Because why would he - let's assume the trader is a "He", I believe women are more practical and safe with money, - "bet" $1,000,000 and be very careless about it?

BUT, although you're possibly right, I believe losing $1 million will NEVER be the same as losing $10. A pleb can bet $10 and laugh if he loses, but any person, especially a rich person would hate to lose $1,000,000. The emotional attachment on a "million" is simply more overpowering.

[stomachgrowls]

...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.

It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.

well it seems like he's really regretting his decision so that is not measly amount for him, as I've seen from his twitter if i still remember correctly he has gained $100k back and grateful for it and saying that he can do something with it which i assume he gonna take unaggressive approach of investing unlike before by getting too much greedy with leveraged investment into meme coin.
though personally if he invested in meme coin he should know the consequence before hand leveraging 25x against meme coin is no joke, the money could literally vanish just within a blink of an eye, when future trading we are talking short term price change and even if price change a little bit it already affect so much towards the capital, the leverage feature definitely come at cost for boosting the profit.
if the strategy taken is making us a loss, the loss won't be some small amount unlike spot trading but might cause us lost the money 75% at best scenario.

No people will be fine in that situation and for sure that he regret all the decision he made since $1 million dollar is not a small amount. This is hard to earn when you trade so for sure that the person who's affected with this lose is devastated with what he's bad trades experience. So its really better for a lot of aspiring trader to learn a lesson from this huge losses encountered by some people so that they would be more careful in their future trades.

Also they should not select those tokens who consist a lot of risk and much better for them to deal with those top coins or altcoins in the market so that we will not easily got affected by fast changes happen in the market, especially on futures trading where everything is fast so we should be careful on the coins or tokens we choose to trade.

Regret do always come at the end and people would really be that making out some realizations on the time that it would really be giving out that kind of devastated results on which this is something that could really happen specially on dealing with high leverage trades. Its impossible that he isnt aware on the risks involved on putting up that huge amount and even if we do say that has lesser X but doesnt mean that you would really be completely safe in terms of losing up those funds on which we know that this market could make out that sharp movement whether go up or down.Even if liquidation price is too far but this market could easily fucked it up. This is why it would really be better that if you cant really be able to afford up to lose on this amount then better stay away with this method.

Somehow into those people who do make out such capital and going all in wiith that kind of amount then we can assume that he had a couple of millions too. No one
really knows because once you do reach up this kind of capital and positioning that you are a whale guy without a doubt.

[Woodie]

If you are going for leveraged trading, bare in mind that the same profit potential that exists will also be the potential that will eat up your capital and worse off is if you try to make easy money by being greedy such that you over expose your account to liquidation..the end result is a burst!!!

Btw, why not trade with a stop loss and knowing there is this risk..he should have move funds to a spot account or funding account to avoid funds meant for future's trading are used... otherwise this is water under the bridge and a hard lesson taught!!

1 million dollars gone  ouch , this should bring nightmares!!!

[tvplus006]

...1 million dollars gone  ouch , this should bring nightmares!!!

Hopefully, the trader will learn a proper lesson from this loss, which will allow him not to repeat mistakes that may lead to liquidation in the future. So in that case, this loss would be seen as a lesson that was worth $1 million.

[AmoreJaz]

...1 million dollars gone  ouch , this should bring nightmares!!!

Hopefully, the trader will learn a proper lesson from this loss, which will allow him not to repeat mistakes that may lead to liquidation in the future. So in that case, this loss would be seen as a lesson that was worth $1 million.

That is the dilemma of most traders when you are dealing with futures. If you made a mistake, it will cost you big. But if you are lucky, you will reap your rewards. Since the alt involved is pepe, it is quite hard to trust the movement of alts especially meme alts. You can easily go bankrupt in futures if you can't keep up with the market.

A very expensive lesson indeed! Next time, it is always best to diversify your investments. Why put your major investments to only one alt? If you are here in this market, you already understand the high risks involved dealing with alts or meme tokens/coins.

[retreat]

Another case of futures trading. Why don't people learn from the mistakes of others who take futures trading too lightly? This is the reason why futures trading is not for everyone, because futures trading is very risky and at any time your deposit can be lost if you don't take it seriously. I couldn't understand how it was possible for him to trade futures without putting a stop-loss and just leave it and sleep. It was just quite absurd to see such an idiot like that. Moreover, he invested in meme coin, the price of which is very speculative, which is quite funny too.

[khiholangkang]

His mistake was not setting SL, therefore his money was all liquidated, this is a common mistake of beginners or people who are too confident, I think maybe he is a professional in investment but he is not good at trading futures that have leverage, I think it is not strange to lose a lot of money in future trading because yes the high risk is very high compared to spot trading.  And what's worse is that he used all his money, which means he doesn't have good risk and financial management in his trading activities, feeling confident is good but we don't know that there is a wormhole in our steps in front that can kill quickly.

This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.

Its fatal mistake for future trader, not using Stop Loss feature for minimalizing low risk than have to get liquidation after market easily get crash immediately. I think bigger problem with future trading most people expected want to earn much profit in short term and use maximum leverage to get large opportunity with profit, but their margin not support yet when market crashing around 20% until 30% easily get liquidation notice at account.
Agree with your opinion, how long make research with some coins in the future always use stop loss feature get minimalize lower risk, still has second chance and capital to trade another coin in future and wish get more profitable. I don't know how long most of trader interested with future trading because every market crash thousand hundred trader loss much money and getting liquidation.

I personally am not so naive because future trading is very attractive especially for those who have a gambler's mentality and or want to get rich quickly easily it will make everything look dazzling in his eyes, I see personal experience in this case is very ambitious in running future trading, and yes often ignore stop loss because it is considered unimportant and do not understand how the calculation of margin is used and the features available at the broker so that maybe when exceeding the limit it makes our balance sucked up completely even though previously did not pair it to bet on trading.

[dunfida]

His mistake was not setting SL, therefore his money was all liquidated, this is a common mistake of beginners or people who are too confident, I think maybe he is a professional in investment but he is not good at trading futures that have leverage, I think it is not strange to lose a lot of money in future trading because yes the high risk is very high compared to spot trading.  And what's worse is that he used all his money, which means he doesn't have good risk and financial management in his trading activities, feeling confident is good but we don't know that there is a wormhole in our steps in front that can kill quickly.

This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.

Its fatal mistake for future trader, not using Stop Loss feature for minimalizing low risk than have to get liquidation after market easily get crash immediately. I think bigger problem with future trading most people expected want to earn much profit in short term and use maximum leverage to get large opportunity with profit, but their margin not support yet when market crashing around 20% until 30% easily get liquidation notice at account.
Agree with your opinion, how long make research with some coins in the future always use stop loss feature get minimalize lower risk, still has second chance and capital to trade another coin in future and wish get more profitable. I don't know how long most of trader interested with future trading because every market crash thousand hundred trader loss much money and getting liquidation.

I personally am not so naive because future trading is very attractive especially for those who have a gambler's mentality and or want to get rich quickly easily it will make everything look dazzling in his eyes, I see personal experience in this case is very ambitious in running future trading, and yes often ignore stop loss because it is considered unimportant and do not understand how the calculation of margin is used and the features available at the broker so that maybe when exceeding the limit it makes our balance sucked up completely even though previously did not pair it to bet on trading.

If you've been get used to gambling then having this kind of trading leverage is really something that wont really be a shocker for you but actually its bad on bringing up that kind of gambler mind when doing trading.
Its not something a leisure or entertainment thing that you would be having like in gambling field on which its a different thing. It wont really be just that right on having this kind of approach because trading isnt something that will really be making you enjoy but instead this is something can be considered to be an investment or source of income if you dont it well.  When it comes to futures trading then its been known that it would really be that nearly be like gambling specially into those high leverage on which we know that once you do make some mistake then your liquidated and this is something that not all would really be able to handle out.
This is why its really that important that you should really know on what you are doing and on what you are dealing with.

[Cookdata]

It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.

He doesn't has no shit than that money. He has nothing left other than that money with him perhaps I should give you some back of the story.

He has a total balance of a million dollars and he was greedy in my opinion because if he strategies his plan very well, he would make more without doing leverage but instead be chosed the shortcut that burnt his hands.

If you read through this page, there were some news that Coinbase is going to list pepe but then it was rumors then and he decide to play the game by opening long position to close on the news but the market moves the other way and he got liquidated by 100% which is abnormal and then he went and cried on Twitter how he had nothing to start from and Binance help him to rectify the issue by reducing the liquidation to 85% and he got back the rest of PNL on his wallet.

I just think he was reckless and greedy but I think it's a good thing that a scape goat exist among us so other people can learn on the dangers on leverage trading.

[Bushdark]

As a gambler, we need to be prepared of what next to come for us to make money from trading because the road is not as easy as many people keep saying it. I could remember when I start learning how to trade. I spent sleepless night trying to get the full understanding about trading but it was very difficult for me and I was not able to meet up. We need to be wise and take decisions that would help us for us to learn how to trade. Trading is not easy and can be difficult especially when we are new to it. Even as a trader, I know of people that takes too many risks to make money in trading which does not worth it at all.

[tvplus006]

...If you read through this page, there were some news that Coinbase is going to list pepe but then it was rumors then and he decide to play the game by opening long position to close on the news but the market moves the other way and he got liquidated by 100% which is abnormal and then he went and cried on Twitter how he had nothing to start from and Binance help him to rectify the issue by reducing the liquidation to 85% and he got back the rest of PNL on his wallet...

If a trader does not adhere to risk management, then his position will be liquidated sooner or later. And I cannot sympathize with such traders who are to blame for the loss of money themselves. But it surprises me that Binance has reduced the liquidation percentage to 85%. It turns out that now every trader who has received liquidation can ask for a Binance to reduce the liquidation percentage.

[Hypnosis00]

Every mistake in trading makes you suffer in the end. A clever and smart trader never puts a very huge amount into trading because that will create temptations. Greediness is a usual issue in trading, anyone can fall into such a situation especially if you think that you already control the market. Unfortunately, we only fail in the sense that we can't control it, and no matter what we do, we can't underestimate the volatility of the market. Yes, we can make a good profit now but can't ensure we can make it all day. That is why most traders don't spend too much on the computer or have 24/7 because stress can also affect our minds and can't think good anymore. Plus greediness, that something turns into a terrible loss like losing $1m especially if we are talking about Future trading.

[cryptoWODL]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.
This is a delicate type of trading which is different from spot trading that could be hard for one to earn non experienced traders to meet up. I mist see people using 100x to 500x to trade without even bothering about the risk it could pose to them if the market goes wrong from their predictions. I can't trade like this and I am very conscious about how I take signals to trade.

Yes trading is not easy trading requires a lot of experience. Even so, futures trading is the most risky. There are many investors who are very experienced and sometimes get 100% liquidation in futures trading.

I have a real experience with futures trading that is I saw my friend trading one of these coins. When he took the trade he took 5x long. The first time he was able to make a profit from his trading but later when he got greedy and took the same 5x long trade with double amount of dollars he got liquidated even he lost his entire dollar. I used to get involved in this trading sometimes but after seeing the liquidation of many people, I don't get involved in this terrible trading like this future trading anymore. Everyone who has ever traded futures has lost. No one can say that I have never lost trading futures. In my opinion those who have small amount of dollars or money should avoid this futures trading. Spot trading should be done instead of futures trading it is safer.

[Nrcewker]

The trader needs to understand the risks associated with trading. Moreover in future trading the risk associated is more high. Hence he should have taken extra precaution for that. That’s why many legends have advised to trade with the amount that you can afford to lose. The trader unfortunately put all his money in trading, and now all is gone. This only sets an example that how dangerous trading can be if not done carefully.

[Hamphser]

The trader needs to understand the risks associated with trading. Moreover in future trading the risk associated is more high. Hence he should have taken extra precaution for that. That’s why many legends have advised to trade with the amount that you can afford to lose. The trader unfortunately put all his money in trading, and now all is gone. This only sets an example that how dangerous trading can be if not done carefully.

Risks management would really be always that something that needs to be considered on the time that you do step your foot into this market on which there's no way that you could really be able to make yourself be that having secured or having that assurance that you could be able to make money. Risks of losing would really be there and if you wont really be that careful into your decisions then you would really be definitely be losing up even more rather than on earning. So it would really be that vary but of course market condition would be something that cant be known.

Majority of us does know the risks on dealing up with futures. This is something that could bring out fast profits but at the same time it could really be something that could bring out
too fast liquidations once the price would really be going into the opposite side. You should always consider about the risks factors involved.

[justdimin]

No people will be fine in that situation and for sure that he regret all the decision he made since $1 million dollar is not a small amount. This is hard to earn when you trade so for sure that the person who's affected with this lose is devastated with what he's bad trades experience. So its really better for a lot of aspiring trader to learn a lesson from this huge losses encountered by some people so that they would be more careful in their future trades.

Also they should not select those tokens who consist a lot of risk and much better for them to deal with those top coins or altcoins in the market so that we will not easily got affected by fast changes happen in the market, especially on futures trading where everything is fast so we should be careful on the coins or tokens we choose to trade.

It's true that looking at the top coins is a better way to approach trading. There are a lot of people who make a lot of mistakes and that usually ends up with them making a loss, I believe that it's much better if you could just end up with a good return and in order to do that you have to be careful.

I believe that we could make some money if we know what we are doing, and in order to get better we should be considering the possibility of making money as something we could do with proper coins. If we look into coins and tokens that are only hyped and not have any fundamental benefit, then we are going to be pretty much upset about what we have. Usually people lose too much money just because they invest into silly stuff.

[shinratensei_]

The trader needs to understand the risks associated with trading. Moreover in future trading the risk associated is more high. Hence he should have taken extra precaution for that. That’s why many legends have advised to trade with the amount that you can afford to lose. The trader unfortunately put all his money in trading, and now all is gone. This only sets an example that how dangerous trading can be if not done carefully.

he definitely knows the risk, but some people just don't care about the risk because they are pretty optimstic with their bets which often caught them off guard to be honest just like leveraging millions into pepe coin i'm pretty sure that if he bets millions on leveraged trade, he already understand the ins and outs of future trading with leveraged capital, but they just so lacking when it comes to risk management, so that they just don't care.

to be honest though there are plenty of such people, there's no shortage of meme coin investors that willing to put all their capitals into meme coin hoping that their money would suddenly become millions.
same thing with this guy, pepe coin already have quite high market cap and he try to profit off the meme coin he just went on leveraging, aside from that its definitely his fault.

i hope it will be a lesson for him not to be too reckless on leveraging capital because we all know the higher leverage the lower margin require for our money to be liquidated.
its just really bad idea future trading with millions in the first place anyway.

[EarnOnVictor]

Reference

“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.

He has started crypto trading since 2017 doesn't mean he knows how to trade the futures market. He might only be one of the opportune people to invest in cryptocurrency easily but became greedy and wanted to make more since the crypto market is not performing as many expected in recent times. I can only term that "greed" if that is the case. We should know that the higher our risks, the higher could be the gain and the loss. I feel sorry for this guy!

This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.

That is the point, if anyone believes they can make a fortune overnight, they have a higher chance of losing everything instead. Trading has to be done carefully and systematically with the right psychology, trading system and management in play. The guy cannot carefully observe all of these and still lost woefully the way he did. If you do not know how to trade the futures/margin market, never trade it, and if you must trade, let the money and risk management be ringing in your head above all other things else.

It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.

Spot trading is almost the same thing as buying your asset in your wallet and keeping it. Why can't the guy opt for this option if not for greed? And the 100% liquidation in Binance is what we all sign for if we are trying to trade Binance futures trading, so Binance should not be blamed in this regard. No one should engage in what they do not know or understand and we should weigh our risks accordingly before taking it.

Are you telling me the guy did not know that the market could go either way, so why can't he plan the 85-90% you are pointing to by the use of a stop loss? All these tools and functions are there, so I see no reason why anyone should blame the exchange. I wonder about the huge risk the guy must have taken for a whole $1M to be liquidated. That must have been a daring attitude which is orchestrated by his greed.

[terrific]

He has started crypto trading since 2017 doesn't mean he knows how to trade the futures market. He might only be one of the opportune people to invest in cryptocurrency easily but became greedy and wanted to make more since the crypto market is not performing as many expected in recent times. I can only term that "greed" if that is the case. We should know that the higher our risks, the higher could be the gain and the loss. I feel sorry for this guy!

He's greediness took him to the next level and that won't care whether you've been here since the age of time or new. He lacked of risk management.
With the plunged today, a lot has been liquidated again. Many don't learn from their mistakes and from the others too.
Never leverage when you don't see the market clearly where it's going and most of us have an idea where it's going but the pressure is on for the leverage/futures traders.