khiholangkang
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April 24, 2024, 09:08:09 PM |
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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.
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dunfida
Legendary
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Activity: 3178
Merit: 1147
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April 24, 2024, 09:37:50 PM |
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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.
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Cookdata
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April 25, 2024, 05:09:15 PM |
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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.
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Bushdark
Sr. Member
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Activity: 980
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Social media moderator/chatter
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April 25, 2024, 05:59:31 PM |
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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.
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tvplus006
Legendary
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Activity: 2394
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To the moon
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April 25, 2024, 09:38:20 PM |
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...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.
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Hypnosis00
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April 25, 2024, 09:55:03 PM |
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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.
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cryptoWODL
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April 26, 2024, 02:25:08 PM |
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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.
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Nrcewker
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April 26, 2024, 05:08:52 PM |
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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.
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Hamphser
Sr. Member
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Vave.com - Crypto Casino
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April 26, 2024, 08:56:27 PM |
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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.
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justdimin
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April 30, 2024, 09:12:33 AM |
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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.
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shinratensei_
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Leading Crypto Sports Betting & Casino Platform
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April 30, 2024, 10:17:39 AM |
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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.
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EarnOnVictor
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April 30, 2024, 11:20:39 AM |
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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.
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terrific
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April 30, 2024, 01:43:40 PM |
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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.
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Zadicar
Legendary
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DGbet.fun - Crypto Sportsbook
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May 01, 2024, 09:16:57 PM |
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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. Without proper risks management Without proper emotion handling Without proper capital handling Without proper analysis Without sufficient spot trading expertise Then you would really be finding out yourself having a hard time on dealing up with the market specially on higher leverage trades on which some people consider it out as a gambling thing because of the high risks that it do involves. Somehow if you do really know on what you are doing then i dont really see any issues in regarding on this one. There are really just that people who do mishandle out themselves on the time that they do deal up with futures trading. Loses scope would be totally limitless or would really be just that depending on the amount that you are using.
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X-ray
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May 02, 2024, 02:59:48 AM |
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even future trading with ethereum is already such a pain in the ass now we are talking about meme coin future trading where he tries to leverage his earning obviously its not gonna end well. usually degens only put the money at stake that they can afford to lose that is what motivating them to be brave enough to make some big bets with big leverage but putting 1 million at stake seems very irresponsible. but at the end of the day its his money, he can do whatever he wants with it, even opening future position with it using high leverage. but i hope that now he knows that sometime getting too greedy might come out harmful. hope you can get a recovery on your money though. after all losing millions to meme coin while other are making millions from small investment just doesn't feel right, i mean i have my share of experience losing money to meme coin but im grateful enough that its not significant amount of money we are talking about. with millions of money, maybe sniping coin in the market with little capital but in bulk might works better than future trading.
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Lanatsa
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May 02, 2024, 08:37:24 PM |
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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. On the moment that you have applied gambling mindset on dealing up with trading then expect that it would incur tons of loses on which you might or might not be able to control or would be able to solve it out easily on which means that possibility of recovery could neither happen or not due to that devastation on which this is something that you could really be able to expect to happen. When dealing up with futures then anything that goes beyond 10x is something that would really be that too risky for you to deal up with and this is something that you would really be that needing to consider for you to be careful because every tick of price movement then it would be that resulting for you to lose money your entire trading capital in a snap once you do get liquidated. Yes, its highly profitable or could make huge money if it goes well but dont forget about the probabilities about on the things that it could happen too when things go south.
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Kelvinid
Sr. Member
Offline
Activity: 2828
Merit: 344
win lambo...
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May 03, 2024, 11:10:37 AM |
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even future trading with ethereum is already such a pain in the ass now we are talking about meme coin future trading where he tries to leverage his earning obviously its not gonna end well. usually degens only put the money at stake that they can afford to lose that is what motivating them to be brave enough to make some big bets with big leverage but putting 1 million at stake seems very irresponsible. but at the end of the day its his money, he can do whatever he wants with it, even opening future position with it using high leverage. but i hope that now he knows that sometime getting too greedy might come out harmful. hope you can get a recovery on your money though. after all losing millions to meme coin while other are making millions from small investment just doesn't feel right, i mean i have my share of experience losing money to meme coin but im grateful enough that its not significant amount of money we are talking about. with millions of money, maybe sniping coin in the market with little capital but in bulk might works better than future trading. Based on the story, I was not convinced that this person was a real trader. He could afford to lose, it can't deny but a having lack of knowledge will never end well instead, terrible losses. We don't know why he chooses meme coins or if someone pushes him to do that because if you are an experienced trader, you can't spend that huge amount in a shitcoin. I can feel his disappointment and a lesson to learn for everyone that we need to know more about trading if we want to succeed and much more about choosing the coin to use. We must know that trading is different from gambling, therefore, we act like we are trading in real life.
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OrangeII
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May 03, 2024, 12:39:22 PM |
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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.
Right. Even though I am sorry for the money the trader lost, he should have realized that trading with that much money carries a very big risk, especially when he chooses to trade with future trading. I once tried trading with future trading. Even though the profits that can be obtained are large, the risk is that we actually lose the money we have. Well, in the end I prefer to trade as usual using money that I am willing to lose.
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Peanutswar
Legendary
Offline
Activity: 1638
Merit: 1173
Top Crypto Casino
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May 03, 2024, 03:40:22 PM |
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I have seen this post recently on social media, and based on the story he made an open trade without a stop loss, and after this mistake trade he got a second chance to recover back at least with his losses and can be used a good start agad. This is the reason why having a TP and SL is an essential in trading that you should use. Ive seen other traders sleeping well while they have an open position but most of their trades is in a long so they expect a good price when they woke up which is opposite to what happened in OP's shared story.
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Zadicar
Legendary
Offline
Activity: 1428
Merit: 1025
DGbet.fun - Crypto Sportsbook
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May 03, 2024, 06:19:36 PM |
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I have seen this post recently on social media, and based on the story he made an open trade without a stop loss, and after this mistake trade he got a second chance to recover back at least with his losses and can be used a good start agad. This is the reason why having a TP and SL is an essential in trading that you should use. Ive seen other traders sleeping well while they have an open position but most of their trades is in a long so they expect a good price when they woke up which is opposite to what happened in OP's shared story.
Trading up with no SL is really that something that bound for a disastrous kind of trade specially if it would be leave out open and not really that something being watched or monitored because on the time that the market would really be having that extreme volatility then it could cause up that huge loses or getting liquidated if you wont be able to close it out right away. SL's are really that recommended but there are really just that those traders who do really believe and confident that they could make money. On the time that they do see up those kind of swings and gets liquidated then this is the only time that they will really be having those kind of regret. $1M isnt a joke amount and loses could really be that something more if you arent really that mindful about having that risk taking thing or management on which we know that this is something very crucial and very important specially on this unpredictable space.
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