Losing $100 Million on $BTC future

[gunhell16]

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.

After all, most rich people who are open-minded and believe in bitcoin or cryptocurrency are usually in long-term holdings to make sure they win the profit they will get.

Just like Michael Saylor, for example, most of the time he does it in a long-term strategy, although I have no idea if he also invests in futures, which we know are very risky, especially if we invest in high vacuum.

[Mpamaegbu]

~snipped~

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

That dude is crazy! Where do people get this kind of money to lavish easily without critical thinking for their investments? Perhaps he's a gambler turned trader because what I perceive him do isn't far from gambling. Genuine traders are circumspect with their investments.

[Mrbluntzy]

From this man's experience, I learned that you should never revenge trades because the market can fail you and choose to go against your strategy until you have been liquidated, after you have been liquidated, that's when the market will stop moving in that direction. This is why risk management is very important in trading, some persons might not agree with me but based on my opinion, I see people that allows themselves to be liquidated with this huge amount as non professional traders. A professional trader wants to make profit and not lose so much. I don't like trading but if I was that trader, I will stop the trade.

[el kaka22]

Lol, he isn't even among the big whales, but that doesn't mean $100m is a small amount to lose in trading. However, it won't be wrong to say that the amount he lost might be life-changing for us, but it must be like a few hundred or maybe a couple of thousand dollars, which isn't a big deal for them. Some people even do these things to gain followers or attention so that they can grow their audience and then earn money from that as well, and they won't always share their profits with you, so that you feel that they are losing, but they are actually not.

I remember a whale had shorted ETH in the last dip in which BTC went to around $73k, and the guy made over $200m in profits within a couple of hours. So, the moral of the story is, they have good enough back up of funds that they can use to recover this much money back, and this doesn't affect them or make them go broke. By the way, people have way too much money, you can't even imagine.

[Stable090]

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!

How will someone lose that amount of money and will say he dominated the money in order to fight the market? Do we even need anyone to fight the market, I don’t think so. All he should accept that he made a mistake, and he lost that amount of money.

He was trading futures just because of profits, for him to use high leverage, then he was desperate to make huge amount of money, and unfortunately the trade went against him. The money might not really be so much for him, but to me, I don’t think we are suppose to trade that amount of money on futures, that’s really much. I don’t think anyone will lose such amount of money, and they will say they did that intentionally, am sure he will be pained, but their is nothing that can be done about it, and that’s just the reason why he said what he said.

[finaleshot2016]

He's just greedy that's all. It's normal that he's justifying defeat right now but in reality, you shouldn't fight the market, $100m is big but doesn't mean it has the capability to oppose the flow because it can't. If same people like him and a lot of them are in the opposing side then he'll just be a food. The market doesn’t care about ego or bankroll, it only respects momentum and logic. Pride turns smart people into exit liquidity real quick and that's a reality that we should remember. It’s not about how much you have, it’s about how well you move with the waves.

At the end of the day, the market punishes emotion and rewards discipline. 

[Lida93]

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

When op referred it to as waste I understood why. This is some money that some persons dream to make in life and here is one dude risking on futures trading and then losing it all in less than an hour.

From what you have explained about this trader, I can only assume that the dude is using such amount that he can afford to lose if we base it what he's making other times with similar amounts for trades he has won. X and Y trader can't have same amount of what they can afford losing. Crazy!

[Franctoshi]

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!

I followed the news about this trade a bit right from the day he did place the trade, James Wayne lost such amount of money Because of his greed,  In fact why would you in the first place an 40x leverage trade knowing fully well the amount of liquidity that you have, even 5x-10x leverage you are good if you want to be that greedy, forgetting that those exchanges or some certain group of whales will saw this as opportunity and short against you, since he got liquidated from his position, the market has continued moving back upwards.

Funny enough, his now begging people to contribute money to enable him fight back ,I thought he had enough money to throw around why is he now seeking help, was there anyone there when he took that decision? This is revenge trading which is the psychology behind trading, and I bet if he uses this method again he will still get wrecked the more, never chase your loses.

[Queentoshi]

Genuine traders are circumspect with their investments.

He lacks risk management skills

~snipped~

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

That dude is crazy! Where do people get this kind of money to lavish easily without critical thinking for their investments?

It looks like the people who have the knowledge of trading, are not in a good position of having enough of the money to trade with, while there are some who have enough of the money to even be able to trade without Leverage, but they lack the knowledge to be profitable, this has me thinking about why a possible partnership between the two kinds of people most times ends in collapse, a partnership between someone with money and then someone with Knowledge? Could it be due to the pressure the person who has the knowledge is under to stay in profit?

[DannyKhalifa]

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!

Been watching him since he started to long PEPE and BTC which made him more than 60m, I have no idea why he didn't took a vacation. That's so much money, it's crazy..

[taufik123]

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.

[dunfida]

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

People do only focus out on loses and thats not shocking news and with these lets say billionaires or millionaires wont be that having that new situation or condition that being liquidated. They've been getting used to with these kind of scenarios. It is just that they are getting that much attention just because of the amount which is involved with these positions with high leverage. People are way that too sensitive when it comes into this aspect but actually they are that getting used to it. Basing up into the screenshot then if he had say up those things then its just that that showing about the ego and trying to show off that its just that a small money but majority of us do knows that he's been trading off with his profits that he had made out earlier. The fact that we dont even know his actual networth or money that he had on other wallets on which we cant be able to conclude that he's broke or doesnt have money anymore.

In speaking about revenge trading then its not new anymore on which whether you are a whale or a shrimp trader then there's no exemption into this on which we are all that emotional beings. There's that moment or time that you cant be able to control your emotions no matter what on which it will be causing up that kind of actions on which it could be that ending up on having that kind of financial affect considering on the amount that being involved. Once you do become that impulsive then its up to you whether you would be that tolerating out such emotion or you would be trying out to suppress it out and staying up cool and be able to assess up the situation. For those who do have better experience and having that good control into their emotions are the ones who do usually be able to stop out such impulsiveness but since we are just that humans then it will be just that so normal on this case.

[LogitechMouse]

I've seen this trader for quite some time already, and for me, it's just an attention-grabbing drama just for him to stay afloat in the crypto space.

Yes, he might've lose some significant amount of money, but for that trader, that might be just dust for him. I mean he's claiming that he's holding some assets and gained a lot from it. Another thing is that, he can find a way so that he can't be tracked by other market makers, but he chose to stay, and that's because he wants attention. He wants attention of the public, and because of that, he doesn't care if he loses around $100M.

He's crazy though to spend that much amount in leverage trading, but I believe that he isn't that crazy enough to not know the risks of it and he also knows that market makers will hunt him no matter what hence, the liquidation happened.

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

He always open a 40x leverage trade when it comes to Bitcoin just for context.

[Zigabel]

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

This kind of event does happen and when they do, they come with some lessons to learn from. The market respects no one and if you make "mistakes " the market will not pity you because you made a mistake, it will still move in the direction it wants to and trading frustration as expressed by him is real.

Saying he wants to fight the market only shows how emotionally unstable he got to at some point which is one thing I do stress so much whenever I'm speaking to traders, always make sure to be in the best emotional state as possible and make sure to protect your capital well enough at almost all cost, that way, you will be able to stay long in the market enough to correct your mistakes and understand better the market dynamics, chasing losses or trying to fight back the market will ans can never do you much good.

[Dr.Bitcoin_Strange]

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.

[MArsland]

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

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.

[Wakate]

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

Trading as been known to be very risky at the beginning that is why only those that have the mind and less emotions can strive to get some bags from the market. Traders are making money while some are losing and sometimes all days can not be as good as the same. If you lose today, expect to win tomorrow, that's how the space works and you can not become a winner forever even though you are very good at analyzing the market and making quick financial decisions.

Most time, greed has been the major market challenges we all are facing and because we have been making series of profits, we might not know when it's will grab us and make us pay for some of the money we'll have made so far. His huge loses is due to greed and over confidence that the market will turn around quickly is what made him to lose such amount of money. High leveraging should be avoided when trading because it could crash your crypto portfolio.

[Hyphen(-)]

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

I think the trader is a bit greedy on these trades; for him to have made $100 million from $4 million on trading, he shouldn't have taken much risk of increasing his leverage because I know he clearly knows the risk involved.

Now another trade of $12 million on $PEPE; this shows that the trader is rich, but he couldn't control his emotion due to greed.

[EL MOHA]

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

[justdimin]

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.

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?

You must either be a billionaire who doesn't care or very stupid and careless, that you didn't think of the risk-management techniques when opening such a large position. The lack of knowledge is the reason why he lost the whole amount, otherwise, a stop-loss could cost him a small percentage out of that, and then he could recover that with another position by predicting the direction of the market correctly.

This is the reason why trading futures is not recommended for newbies because a lack of knowledge can make you lose money very quickly, just look at this dude, he had $100m in his account and thought he would make some money easily with it, but since he didn't take risk-management seriously, or probably didn't even know about it, he had to lose all that money.