Losing $100 Million on $BTC future

[mindrust]

If he had that $100 million fully and lost it to futures, he is dumb.
If he didn’t have $100 million but the exchange let him use leverage, the platform is dumb because I don’t think they can get their money.

Either way his loss is some other people’s bread and butter. If he lost $100 million, that means some people who took the opposite side of his trades made $100 million also.

I guess you now know why many people call trading a zero sum game.

[GiftedMAN]

Maybe what you said about Wynn could be true, I don't know the guy too well but I have follow up some live traders on YouTube during the January period that Bitcoin was pumping, a trader was longer and he was making profit so well on that trade but he didn't close because all his thoughts was that Bitcoin will run to $120k , so he held the trade until price began to dip. He went from being in profit to have a lose of about -$80k+ and yet he didn't close the trade. I was just following the guy up for about a week before he finally didn't show up on live again, I just assumed he closed the trade and was dealing with the lose. What am saying is that, there are some trade that are trading with large capital and their losses are usually huge too when it happens.

Are you not surprised that many people take trades like they are being mandated to do such. Trading is not to be done with  greed and that is one of the things that have resulted in such a huge loses. If he was able to trade without being greedy or trying to make profits by all means, he would have been very fortunate not to have excessive loss to the market with the entire fund. One thing we must understand about trading is to be ready to bear the consequences if anything goes wrong. No one should be held responsible.

[Issa56]

If he had that $100 million fully and lost it to futures, he is dumb.
If he didn’t have $100 million but the exchange let him use leverage, the platform is dumb because I don’t think they can get their money.

I don’t know why some people do take that kind of risk, that amount is not really a small amount of money, that’s enough to change someone’s life, how will you trade futures with so much amount of money, seriously the person is dumb just as you said it. I don’t think any exchange will allow anyone trade without having money on the exchange, but I don’t know if their is that future now on some exchanges. People like this are already use to taking risk, so am sure with time he will be able to recover his money back.

Either way his loss is some other people’s bread and butter. If he lost $100 million, that means some people who took the opposite side of his trades made $100 million also.

In trading, if someone is losing, then you should know that some people are in profit, that’s how it works, if he is winning, then you should know that people are losing, so other people are the ones that are going to enjoy his own loss.

[2Pizza410000BTC]

Losing $1 Million on $BTC future

You have not edited the topic title to $100 million. The man lost $100 million and not $1 million.

Also I think a topic similar to this has been created before but I was not able to find it.

It is good to avoid using leverage which is the lesson that this trader losses taught us. Leverage has been what cause setback for many people.

Futures trading is the riskiest trading platform where can lose everything in an instant. This guy lost $100 million which we can't even imagine. We must learn from this that futures trading can take us down the road in an instant. The guy may have used high leverage due to which he lost $100 million very quickly. Let's push away the greed or passion of those of us who have the passion or greed to do futures trading.

[tygeade]

It was yesterday on X i knew that people truly have plenty of money to waste on this space, imagine losing $1 Million on $BTC future just in a week

This was supposed to be $100 million. He managed to turn $4 million into the $100 million and lost it all in that trading activity

The dude is in net profit from trading, he only used a much higher leverage on that trade and somewhat got liquidated.

Adding to this, he's gone long on PEPE with $12 million only hours after loosing the said $100 million

Thanks for the extra insights into the case. I was wondering if a rich guy lost $100 million but clearly this is someone who knows trading if he turned $4m into $100m and then lost it, which is unfortunate but quite possibly he will make it back again.

I am not a fan of such high variance trading where you blow up your bankroll so fast or make it 25x but perhaps this is how some traders operate. Also as you said he went again with $12m so clearly this $100m is not all the money he had and probably has a ton more to risk.

Insane stories these but clearly the guy knows his thing!

[milewilda]

It was yesterday on X i knew that people truly have plenty of money to waste on this space, imagine losing $1 Million on $BTC future just in a week

This was supposed to be $100 million. He managed to turn $4 million into the $100 million and lost it all in that trading activity

The dude is in net profit from trading, he only used a much higher leverage on that trade and somewhat got liquidated.

Adding to this, he's gone long on PEPE with $12 million only hours after loosing the said $100 million

Thanks for the extra insights into the case. I was wondering if a rich guy lost $100 million but clearly this is someone who knows trading if he turned $4m into $100m and then lost it, which is unfortunate but quite possibly he will make it back again.

I am not a fan of such high variance trading where you blow up your bankroll so fast or make it 25x but perhaps this is how some traders operate. Also as you said he went again with $12m so clearly this $100m is not all the money he had and probably has a ton more to risk.

Insane stories these but clearly the guy knows his thing!

People do mostly focus out on the negative without even trying to check on which same as you had said or elaborated on here is that he had made out that profit too and it turned out that his profit that he had made out was taken back by the market at the time that it did made out some u-turn. He wont be called a whale for nothing and thats why losing isnt something a shocking thing for him and definitely he had still some cash into his bank for him to deal up with. We dont know if on next week or another leg up he would be able to make up even more. Pretty sure that tons of eyes had been eyeing out into his potential investment on which it might be giving out that chance on recovering those loses. Just like with some average traders out there then we do have that losing moments on which it will be just that an ordinary day. It just that turned out that we are that being that highly reactive just because the amount which is involved on here isnt something that we can see on everyday. Usually these kind or type of news do comes out whenever there's some huge swing or rally of price whether on a declining or uprising market on which there's always that will be liquidated up on which this is how the market works. If you are weak hearted then this volatile space isnt for you and that whale pretty sure know its thing. Tons of speculations or sayings that this might be his last money or what, on which we dont evek now the exact stash of someone just because he had lost $$$ millions.

[Cookdata]

It was yesterday on X i knew that people truly have plenty of money to waste on this space, imagine losing $100 Million on $BTC future just in a week, the more he tried to back his trade by longing it on cross the more it went down. He lost everything and started telling people to donate to him in order to fight the market back.
In all of these i learn not to fight market back no matter what!

Money waste is an irony, the truth is people don't have money to waste, they are just poor at planning. They don't know how to position their self with the market and that's why they continue to lose money to the market. Fact check me, why would any sensible person open position on a market that falsely broke all time high yet there wasn't volume, there wasn't MACD cross over, everything was done to push people to fomo but I guess people were not ready.

It's either the person is inexperience in trading or don't know manipulation that is going on in the market. You can see that Bitcoin is doing all of that but it's just there like it's something we have cross before. The previous all time high break comes with some kind of celebration and the market is well respected but this one looks weird. All the same, he has learn his lesson, I hope he learn to understand the market proper next time, not all market you have to trade.

[taufik123]

The problem is not being rich or using a large amount for a trade; the problem is not doing it the right way. I mean, who in their right senses would open a futures position with $100m and have no stop-loss in place?
-snip-

LOL, not using a stop loss on futures trading is the same as committing suicide and ultimately wasting money in a stupid way.
$100 million could change anything, but for James Wynn it didn't seem to mean anything and it was just a game that ultimately lost everything.

Is it possible that he is not stressed by losing hundreds of millions of dollars, or is he just covering it all up or still trying to recoup his losses,
but what is certain is that losing that much money will be a strong moral burden and make anyone stressed.

[passwordnow]

That asking of money looks this "if you want me to recover, send me USDC". It is lowkey asking of money with the losses that he's made with his trades.

All the same, he has learn his lesson, I hope he learn to understand the market proper next time, not all market you have to trade.

I hope so, he doesn't have to be active in the market at all times and if he's won his trades. It's best to just book a vacation to Bahamas or somewhere else where he can enjoy the beach and have himself some good food and pay with that money that he's won from the market. That's a lot of millions that he's lost there and someone who's done that probably is feeling the intensity of it and regret.

[Ivystar5]

James Wynn story of losses or controversial statements is just a bait to grab attention again on the media and then use it to get what he wants. I don't think the loss was a real loss.
Wynn was once a trader but now a scammer posing under his known status of trading (allegedly), if you truly know him you will understand that all this loss could be a plan with one or more exchanges.

Maybe if all this is true, then it's just a time of little losses and would probably get what he lost back.

Maybe what you said about Wynn could be true, I don't know the guy too well but I have follow up some live traders on YouTube during the January period that Bitcoin was pumping, a trader was longer and he was making profit so well on that trade but he didn't close because all his thoughts was that Bitcoin will run to $120k , so he held the trade until price began to dip. He went from being in profit to have a lose of about -$80k+ and yet he didn't close the trade. I was just following the guy up for about a week before he finally didn't show up on live again, I just assumed he closed the trade and was dealing with the lose. What am saying is that, there are some trade that are trading with large capital and their losses are usually huge too when it happens.

Of course you might be right and I could agree with you as I'm not much of a trader but for someone like him trading he should be aware of a lots of things even though greed might play a role in this action if true then he couldn't control his greed totake the necessary actions. I also agree that guys who use a large amount of money for trading tend to loss more in a short time as the amount they are likely to loss is so huge that it seems unbelievable, I can remember someone saying that in trading the richer You're the more richer you get because what someone would make a thousand dollars using a thousand to trade, someone else using millions would make millions, as simple as that, hence I certainly agree with your opinion.

[shinratensei_]

Went from owning 100 million to accepting donation is the craziest storyline. But i'm pretty suspecting that this guy is just doing some stunt, the donation is just cherry on top.
There's no way any sane people would risk 100m for a perp at near ATH even the most insane people would think thrice.

Doesn't make a damn sense to me. But i see his X account he keeps shilling for a random meme coin.

[Dave1]

The dude is in net profit from trading, he only used a much higher leverage on that trade and somewhat got liquidated.

A rich person like him suppose not use leverage at all which is the reason he lost so much. Using millions to trade can give high ROI without using leverage but I do not know the reason he is using high leverage to trade which is just greediness and he got liquidated. If he is not careful, he may later go broke or he should just change.

The only reason why I think he did this is maybe he thinks that he knows the game, i.e. ego and that he will always be winning in his trading, which is not the case. Every one of us have lost a lot of money in trading.

That's why I believed that trading is not for everyone, just like gambling. And this is the very definition of why we compared gambling to trading. They said we have a fall back or mitigate trading. But in this case it's totally different. The guy seems to be addicted and then wanted to get that adrenaline rush with trading.

[jaberwock]

JW got liquidated so fast and the other whales voted to destroy him. $100 million was gone but for him it might be normal but with the way he uses high leverage it is not easy for the average trader to follow. Last I saw his balance was around $20 based on Arkham, well the noise this year is too many people taking risks on something that is hard to predict.

He is not fully liquidated because it is some positions that were liquidated, just now he was reported to been liquidated for 240 bitcoin after opening some long with 40x last four days ago according to Arkham.

. He is still holding position worth 700 bitcoins according to them.

If you go through his X page he is just ranting that the market is hurting him I don’t understand this from him because the market is definitely just doing it thing moving up and down. This guy has been too relevant lately which shouldn’t be because to me he is simply chasing fame, like i said he isn’t a trader but a casino boss

This could be true. Even on other post/thread said that he is also trading on Hyperliquid. The guy is truly wise to diversify and he might be aware already that he is hot in the eyes of some whales, that they want to destroy him. The market may seem normal to us, maybe because we are only doing things that are done by normal people but the guy is on a different level. He does risky types of traders, so any movements of the market is a crucial thing for him. He even lost some BTC's already and that is why he said that the market hurt him.

Chasing fame or not, we can't control someone else. They can still be relevant if the situation permits just like what happened to him lately. It is also because he post a status online and then someone can see it. And as you said, he isn't a normal trader anymore, so this makes things more interesting about him.

[sana54210]

People like James Wynn are an example of a person who is too greedy and wants to beat the market, so he accepts the consequences by losing all his money.
$100M is a lot of money, I could retire from crypto and enjoy living with that much money, rather than having to stress about trading and such.

Why do people like him with millions of dollars still become too greedy to subdue the market, when people will only react when he loses and loses everything as it is now.
Not understanding the mindset of the rich, who ends up losing more songs even though he tries harder.

You are not wrong and I believe 99% of us think that way, but that is also why we are not rich. Elon Musk when he exit from PayPal he was rich enough to just live the rest of his life but he ricked everything on SpaceX and after some struggles it worked out for him. So, I mean there are people who are not willing to settle for a safe life and sometimes it pays and other times it doesn't.

I used to think that people with such capital can actually manipulate the market but now the market is so massive that even $100m doesn't change it by much, if at all. Bookmarked on X and will follow how it goes for him.

[taufik123]

You are not wrong and I believe 99% of us think that way, but that is also why we are not rich. Elon Musk when he exit from PayPal he was rich enough to just live the rest of his life but he ricked everything on SpaceX and after some struggles it worked out for him. So, I mean there are people who are not willing to settle for a safe life and sometimes it pays and other times it doesn't.
-snip-

Elon Musk can't be a comparator, he's a scientist and has a qualified foundation to grow his wealth even if he has to quit PayPal.
While James Wynn is just a high-risk leverage trader and meme coin enthusiast, he does take risks, but trading without a stop loss is a big mistake.

He was indeed quite good at risky trading and was also a crazy memecoin trader with fantastic profits, but now all those profits are being taken away again due to his carelessness.

So when compared to Elon Musk, there is still nothing because Elon is an entrepreneur who will always think about how he once steps can get big profits.

[Teraboy]

This was supposed to be $100 million. He managed to turn $4 million into the $100 million and lost it all in that trading activity

The dude is in net profit from trading, he only used a much higher leverage on that trade and somewhat got liquidated.

Adding to this, he's gone long on PEPE with $12 million only hours after loosing the said $100 million

Very reckless trading yet he could make it to $100 million.
This thing needs to be studied because usually people who are reckless in their trading got rekt the first minute they opened their trade.

[masulum]

This could be true. Even on other post/thread said that he is also trading on Hyperliquid. The guy is truly wise to diversify and he might be aware already that he is hot in the eyes of some whales, that they want to destroy him. The market may seem normal to us, maybe because we are only doing things that are done by normal people but the guy is on a different level. He does risky types of traders, so any movements of the market is a crucial thing for him. He even lost some BTC's already and that is why he said that the market hurt him.

Chasing fame or not, we can't control someone else. They can still be relevant if the situation permits just like what happened to him lately. It is also because he post a status online and then someone can see it. And as you said, he isn't a normal trader anymore, so this makes things more interesting about him.

The way he reads the market and makes decisions is clearly not the way most people do it. It would be a huge risk if he continues to insist on going against current market conditions, but he is not a newbie anymore, there must be a strategy that he has made to prevent being liquidated from the market. One important thing that should be a lesson for small asset traders, the losses he experienced are also a reminder that even though he looks "on top", there is still a big risk that he bears with a large nominal loss. Many people only see the end result or his fame, but do not realize the mental and financial pressure he may face every day.

[Rockstarguy]

It was yesterday on X i knew that people truly have plenty of money to waste on this space, imagine losing $100 Million on $BTC future just in a week, the more he tried to back his trade by longing it on cross the more it went down. He lost everything and started telling people to donate to him in order to fight the market back.
In all of these i learn not to fight market back no matter what!

This is just greed, which is a result of a lack of understanding. Trading is risky and unpredictable; it can only be ignorance that would lead one to think they can win in the market.

The market is risky and unpredictable; that is why it is advisable for traders to trade with the amount they can afford to lose. By doing this, one is trying to manage risk. With this pattern of trading, I'm sure this person has chosen to go about trading the wrong way because the first step to trading is learning. Learning to gain understanding is the main thing in trading. Even if, after learning, one is not able to make a profit, one should be able to trade wisely, at least to have limits in trading and to trade with the money one can afford to lose. It is impossible to win over the market all the time.

[BenCodie]

Is anyone impressed by his actions?
I even see it as ridiculous, losing $100 million dollars and then asking for donations and there are also people who want to donate to him.
Obviously his actions are not appropriate because losing and asking for donations are stupid, meaning he can't afford to lose that value, or it's just an act to get attention because he's actually an entertainer not a trader.

What's there to be impressed about? He quietly made millions and then publicly rode it all into the ground. He became an entertainer subsequently from his trading journey that went viral, he was not already one.

This was supposed to be $100 million. He managed to turn $4 million into the $100 million and lost it all in that trading activity

The dude is in net profit from trading, he only used a much higher leverage on that trade and somewhat got liquidated.

Adding to this, he's gone long on PEPE with $12 million only hours after loosing the said $100 million

Very reckless trading yet he could make it to $100 million.
This thing needs to be studied because usually people who are reckless in their trading got rekt the first minute they opened their trade.

I don't believe he is in profit anymore. In fact, I believe he got to the stage of opening his last position from donations on X.

This was supposed to be $100 million. He managed to turn $4 million into the $100 million and lost it all in that trading activity

The dude is in net profit from trading, he only used a much higher leverage on that trade and somewhat got liquidated.

Adding to this, he's gone long on PEPE with $12 million only hours after loosing the said $100 million

Very reckless trading yet he could make it to $100 million.
This thing needs to be studied because usually people who are reckless in their trading got rekt the first minute they opened their trade.

He quietly made it to $100m. Now that trades are public and watched by both manual and automated market makers, the odds are against him for as long as he is putting large sums of money into trades.

[joeperry]

I saw his post I think right now he is only trading with around $0.39 the last time I saw it. Just imagine having a $100 Million dollar and it just got liquidated in a week? I could just have retired and save at least $20M to crypto and spend the rest on whatever I want 

I've been reading his Twitter and he posted that he created buzz and claiming he's a legend and he has now with some brand deals, etc. well good for him. I also read that he's goal is to be billionaire with a "B"
this upcoming bull, let's see how it goes, I tried to check his account from time to time to see if he would managed to change his strategy or what.