Losing $100 Million on $BTC future

[Olamidetechie]

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!

[DubemIfedigbo001]

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

[Olamidetechie]

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

Yes just getting to know it, but it seems he has one money somewhere spending it anyhow, brooooo just dash the money if he doesn't need it.

[Oshosondy]

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.

[DubemIfedigbo001]

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.

I think he's addicted to trading and enjoys high risk trading a lot. On a heavier note I would like to refer to it as greed, he's actually a greedy trader who wants to hit it very massive. He has long been into that kind of practice and it has given him much gains in the past, only that this time around he went too extreme.

Speculations have it that he has re-entered yet another trade on hyperliquid despite vowing to stop and has gone long on BTC with $100m and a 40x leverage at $105,890.30. Dude is very addicted.

[Charles-Tim]

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.

[Mpamaegbu]

He lost everything and started telling people to donate to him in order to fight the market back.

I don't know who will be that careless with their hard earned money as to donate to him. To even start with, I don't know what will make someone risk such a huge sum of money on trading. I think it's too much unnecessary risk, no matter how rich the person is. He risked that high so he could end the market in a day or what? Why not take it a step at a go, after all the market isn't going anywhere. It will always be there to allow people trade and make money from it.

In all of these i learn not to fight market back no matter what!

The market is always the master. The earlier everyone learns this, the better for us.

[Olamidetechie]

He lost everything and started telling people to donate to him in order to fight the market back.

I don't know who will be that careless with their hard earned money as to donate to him. To even start with, I don't know what will make someone risk such a huge sum of money on trading. I think it's too much unnecessary risk, no matter how rich the person is. He risked that high so he could end the market in a day or what? Why not take it a step at a go, after all the market isn't going anywhere. It will always be there to allow people trade and make money from it.

In all of these i learn not to fight market back no matter what!

The market is always the master. The earlier everyone learns this, the better for us.

Yes you get but greed won't make them listen, having a liquidity is not enough in this trading space, but be emotionally stable is another skill every trader should take into consideration. You don't win market by doing revenge trading.

[slaman29]

You know these are all just dumb stunts to keep you hooked right? Saw them on forex 20 years ago. Saw them when memecoins first came out what 7 years ago.

Its all just happening all over again and people are hooked, and entertained. Snap out of it and stop thinking this is how normal people trade.

Eh you know what, do what you want if it makes you happy OP.

[Queentoshi]

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.

Maybe because there is the option for leverage, there is the thought that it must be used.

I had same reasoning thinking from the side of someone with limited capital for trading the importance of Leverage, but reading this your statement, I understand that the trading conditions can be different for someone who has a large capital, Leverage can be unnecessary. Thank you for this.

[Charles-Tim]

I don't know who will be that careless with their hard earned money as to donate to him. To even start with, I don't know what will make someone risk such a huge sum of money on trading.

I do not see anything wrong to use such huge amount of money to trade bitcoin but maybe we are still on the same page because he should not use such high leverage. He made big wrong moves.

The market is always the master. The earlier everyone learns this, the better for us.

I think he is not a good trader. Bitcoin has increased significantly and get to all-time high and he then use a leverage of about 20x on a long position at such high price. He should expect at least retracement to at least $100000 again. I will say he gambled with the money.

[Mpamaegbu]

~snipped~

I do not see anything wrong to use such huge amount of money to trade bitcoin but maybe we are still on the same page because he should not use such high leverage. He made big wrong moves.

I think you should see everything wrong with that. For someone who admonishes people to gamble or trade small amounts they can afford to lose, you should. I take your last sentence for it. He definitely made a wrong move, and will forever regret it. That's if he doesn't fall into depression from that loss. No matter how rich that dude wants to act he's, that amount used is too huge to toy with. It will shake him out of his stupidity.

[dumbymamby]

That will just a small piece of cake for him. He still have much money to trade. He really need to learn more details bout future trading. If he doesn't realize that, his wealth will reduce a lot although he can produce big money. He doesn't learn from other people who already lost so he want to fight market back. But that will not work as the market will take his money.

[EL MOHA]

I think he is not a good trader. Bitcoin has increased significantly and get to all-time high and he then use a leverage of about 20x on a long position at such high price. He should expect at least retracement to at least $100000 again. I will say he gambled with the money.

He is not anywhere a trader he is a gambler Charles, he has always been this aggressive gambler all his life, since 2022 base on his story he flipped $210 to around $80m with the most win started when he call the Pepe memecoin at $600k market cap and he sold at $25m market cap and still went ahead to hold his position. He is a Degen trader or should I say gambler.

Recently he has been too boastful on X about his calls and trading setup just at may this man long BTC with a high leverage of 40x because he hardly uses leverage below 10x. His position was a whopping $1.2B on hyperliquid. Entry was at $108k and his liquidation is around $105k. When he actually enter the market then trump tweet about bitcoin shifted the market sentiment and in a minute this man lost $13m instead of to go out of the trade he is adding positions to actually service his liquidation.

Right now it seems is been targeted by some market makers on hyperliquid, because if he buys they sell which is actually putting in him in a bad position that’s why he is still seeking for donations. He has received over $100k and has just recently long another trade again.

He is just trying to prove a point which is useless to me, he is no where near a trade but a gambler

[salad daging]

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.

Perhaps he feels dissatisfied if he doesn't use leverage? Even though if we think about trading hundreds of millions of dollars, he could trade spot ROI with large returns, but usually greed blinds them to the risks.
I don't know if he feels like he has a lot of money (rich people) so trading millions of dollars is normal for him, or if he doesn't think about how much money that is? He's so brave.

[Charles-Tim]

I think you should see everything wrong with that. For someone who admonishes people to gamble or trade small amounts they can afford to lose, you should. I take your last sentence for it. He definitely made a wrong move, and will forever regret it. That's if he doesn't fall into depression from that loss. No matter how rich that dude wants to act he's, that amount used is too huge to toy with. It will shake him out of his stupidity.

Let us assume he used 20x, that means he used $5 million to trade.

The reason I said so is because if he used just 1x leverage, his losses will still be better and he can not be liquidated even if bitcoin get to $1000 from $100000, although not good. We may have different opinions about this but leverage is the reason he lost all the money. When he got liquidated, he would have only lost not less  than $250000. And he can easily see the money back if he is patient.

Did you know he opened long position with $5 million recently after the loss and he almost got liquidated?

[blomen]

people like that have no intention of stopping. people have habits and sometimes just doing wrong is not enough to learn a lesson. probably a guy like wynn will never run out of money in his lifetime, but it's clear that he made the wrong decisions. but sometimes you have to look at it from this point of view;

when wynn bought pepe, there were a lot of people who thought he was wrong. no one told him that when he made 87 million from 500 thousand dollars. everyone has successful and unsuccessful periods. james wynn wouldn't have 100 million dollars to lose if he hadn't taken such risks.

it's easy to judge a person by their mistakes when they fail, but maybe wynn could have made 100 million dollars 1 billion too. like i said, we always make mistakes.

[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.

[AVE5]

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!

You already knew he invested all that money on trading which I should believe you must have ideal that there're also profitable traders who might even have the gut to project more then that amount of money to take the risk of the trading. So don't say he wasted it because if he had made it a win you would be jealous of his outcome.
Where I find him faulted is there he's asking for help because if he had been concious of the market he'd had only invested a specific amount he specifically kept for the trade while have his back up source because trading isn't as simple as most people may think.
Lastly, there's always a need to come back to the market after loose since profits may not always come and there's need for traders to know when to step back and when to come back again.

[Strongkored]

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.