James Wynn’s big wins (and losses): The truth about trading with leverage

[shinratensei_]

Honestly people shouldn't trade on leverage if they're not sure they have edge on the market or not.
The problem with perpetual or derivative market is that even if you used 1x leverage which means no leverage at all you can still get liquidated because there's funding fee and so on and you're not getting liquidated at $0 price, you're getting liquidated way earlier than that so it's a losing game.

With leverage more than 2x, you're basically taking a really high risk on a losing game so of course 90% chance you gonna lose, only trading with good edge can save your money, so if you don't really understand the market and don't have edge, don't try leverage.

[Oshosondy]

Now as for James Wynn, we've seen him losing lots of money with his x40 leverage trading especially with Bitcoin back months ago, but ever since he deactivated his account, I haven't heard anything from him or at least he didn't make any news anymore. I mean we're talking about him, and after a few weeks, we forgot about him already. I agree with what you said though that trading is all about patience that's why the number one rule in trading is to "survive" as much as you can, and the only way is to be patient, use a small trading capital only in trading, and risk small amount of money only.

Some weeks after he lost hundreds of dollars, he deactivated his account. Later he activated it back but he stopped using $50 million to trade maybe he did not have such amount of money anymore, but he was trading with around $400 thousand dollars.

He is now advertising for Binance and Aster Dex which was really promoted by CZ and he said he has made $87 million from $550 thousand.

You can see that here: https://x.com/JamesWynnReal?t=qsCmlsm2-kwbUN8EXM2XBA&s=09

I think he is now using Aster Dex to trade but he may be using the two.

I have just found out more about him that he made $85 million just now.

[tbct_mt2]

Some weeks after he lost hundreds of dollars, he deactivated his account. Later he activated it back but he stopped using $50 million to trade maybe he did not have such amount of money anymore, but he was trading with around $400 thousand dollars.

He is now advertising for Binance and Aster Dex which was really promoted by CZ and he said he has made $87 million from $550 thousand.

You can see that here: https://x.com/JamesWynnReal?t=qsCmlsm2-kwbUN8EXM2XBA&s=09

I think he is now using Aster Dex to trade but he may be using the two.

I have just found out more about him that he made $85 million just now.

The basic greed and uncontrolled instinct of James Wynn will cost him more problems, losses in the future. Losing big fund but managing to rebuild it back is great, although if he does not change himself and continue with same style, he will lose big again. Opportunities for him as a second chance, third chance won't come forever and if he continues like this, he will run out of all luckiness and money in the future.

By using Aster DEX, James Wynn just shown as that he is a true degen in cryptocurrency market, hence his coming experience in this market might be a nightmare especially for his fund.

[GreatArkansas]

(....)

Anyone here using high leverage and making money from trading? That is a lie.

Also, the people or some so-called "influencers" they are calling on social media who keep sharing screenshots of their trade, sometimes they only adjust the leverage before capturing screenshots So it will look like you gained too much profit in your trade, and they will share it on social media, then later on, they start to invite you to their paid trading signal channel 

[OcTradism]

With leverage more than 2x, you're basically taking a really high risk on a losing game so of course 90% chance you gonna lose, only trading with good edge can save your money, so if you don't really understand the market and don't have edge, don't try leverage.

Don't use leverage is the best and safest trading approach.
If you use leverage, a safest one is using 1x leverage. Don't feel strange why using 1x leverage as with leverage in margin trading, you can short while without leverage and in Spot trading, you only can buy.

Generally, when touching leverage, even 1x, it's risky and it's already more dangerous than trading with Spot market.

Also, the people or some so-called "influencers" they are calling on social media who keep sharing screenshots of their trade, sometimes they only adjust the leverage before capturing screenshots So it will look like you gained too much profit in your trade, and they will share it on social media, then later on, they start to invite you to their paid trading signal channel 

Screenshots are useless to prove anythingif there are no public and verifiable information for on-chain tracking. It's quite surely that "influencers" don't public their addresses for community to easily verify what they screenshoted and shared on media.

People easily trust "influencers" but basically, in blockchain industry and cryptocurrency market, we know of a vital principle "Don't trust, verify". With any influencer who did not share necessary information for community to do verification, don't trust them and what they screenshoted.

[_act_]

[If you use leverage, a safest one is using 1x leverage. Don't feel strange why using 1x leverage as with leverage in margin trading, you can short while without leverage and in Spot trading, you only can buy.

Which one are you referring to? Is it margin trading or you are referring to future trading? In margin trading, you can not go less than 2x because the 1x means you do not borrow money, so 2x is the default and the lowest. While in some other exchanges, you can not go less than 3x.

If you are referring to future trading, 1x still means you are using leverage.

[tvplus006]

I think he is now using Aster Dex to trade but he may be using the two.

Yes, James Wynn did switch to Aster Dex, obviously hoping to get a good airdrop. But apparently, something did not go as he expected. James Wynn has published the results of his trading on Aster Dex in his X - https://x.com/JamesWynnReal/status/1976687149605863568

[Strongkored]

Traders know about patience, but it's difficult to practice it, even in almost every aspect of life, because humans naturally want things quickly. Fast food, instant coffee, and getting rich quick, even though that is also what makes it possible to lose it quickly.
Traders think that only high leverage can make them get big profits, and also think that high risk means high gain.

[Natalim]

While it’s somehow profitable trading using leverage, but not all those who take leverage end up successful. Some just end up losing too much, that’s the reason why leverage isn’t advised for everyone, except for those who are highly professional and skillful traders as they can manage to trade with maximum potentials using leverage.

But nevertheless, trading with leverage requires high caution as well. It’s totally risky and dangerous, so if you aren’t sure about it, better to avoid leverage trading.

[LogitechMouse]

(....)

Anyone here using high leverage and making money from trading? That is a lie.

Also, the people or some so-called "influencers" they are calling on social media who keep sharing screenshots of their trade, sometimes they only adjust the leverage before capturing screenshots So it will look like you gained too much profit in your trade, and they will share it on social media, then later on, they start to invite you to their paid trading signal channel 

Well, I'm not saying that all of the influencers are like that because I still believe that there are a few influencers out there that are showing legit profits AND losses, but majority of them are just like what you said. They're manipulating their screenshots just to show that they're profiting to other people. There are some who are even worse and they're showing profits to the public, but doesn't show their losses AT ALL.

I've also seen some trading signal channel on Telegram and Discord where they're sharing some signals on their own channel, and when they make profit, they're posting it there including their profits, but when their signal ended up as a stop-loss, they're just ignoring it like nothing happened and they'll just post another signal which for me is f*cking stupid. Anyway, influencers like this one are everywhere so as much as possible, let's not follow them. Yes we can join in their free signal group, but just to observe, not to rely on them. Trust me I've tried to rely on them back when I was still a newbie, and I ended up losing money because of them. At the end of the day, we can't blame them with our losses because it's our responsibility and not theirs so better not to follow these trading signal channel and those influencers that are doing it as well.

[freedomgo]

Leverage trading isn’t actually bad, as there are those who actually gain profits and made successful from it. But the fact that not all traders are good enough, are skilled enough, then we should never ignore that leverage trading is exclusive only for those who gained more experience and are master traders.

And for that, I must say that leverage trading isn’t for everyone. Otherwise, you will surely experience the worst part of forcing yourself to take leverage, even though you know already that you aren’t capable enough.

Greed is what force us to take leverage, even for those who have been proven master traders. And sometimes, if greed becomes left uncontrolled, that’s when it led to mistakes and losses that we will always regret in the end.

[tvplus006]

...Greed is what force us to take leverage, even for those who have been proven master traders. And sometimes, if greed becomes left uncontrolled, that’s when it led to mistakes and losses that we will always regret in the end.

For a normal trader, it is common practice to use leverage, which allows you to increase profit with a relatively small own deposit. In addition, it is a normal practice for a trader to hedge his own position, which also uses leverage.

But this becomes greed only when a trader opens an order for his entire deposit, while using high leverage.

[Japinat]

However, the problem with traders these days is that they don’t see patience as essential in trading. That’s why most of the newbies rush into trading because they want to satisfy their greed over money, even without prior knowledge and experience about real trading in the market. And the worst is, they don’t just trade, but they even aim for leverage, because they think that would give them instant profits.

Unfortunately, a lot fall on this trap, believing that trading with leverage is the best for trading, not until they start experiencing massive losses and leave trading because for them, trading is certainly not for them.

[Maslate]

(....)

Anyone here using high leverage and making money from trading? That is a lie.

Also, the people or some so-called "influencers" they are calling on social media who keep sharing screenshots of their trade, sometimes they only adjust the leverage before capturing screenshots So it will look like you gained too much profit in your trade, and they will share it on social media, then later on, they start to invite you to their paid trading signal channel 

Aside from personal greed, this is also one of the reasons why traders easily lose their funds because they easily get carried away with whatever influencers have to say, without realizing that influencers are getting paid for it, so they have to promote trading with leverage, even if it means causing a huge loss to those inexperienced traders.

Trading with leverage is only good for those who can handle of the risk and difficulty it requires, but for those who are still newbies and have not realized yet the risks about trading using leverage, it’s better if they can avoid using leverage for their financial protection.

[Sanitough]

This is not just for newbies but all traders out there that until now, still want to take on leveraging knowing it could give impressive profits. But we all know not all those who use leverage end up highly profitable, but some ended with instant losses instead. That’s the reason why it takes maximum risk management and high caution every time we decide to use leverage, otherwise we will only lose our money in just a second and end up blaming ourselves and regretting.

[Kelvinid]

Greed is what will make a trader to use high leverage to trade in a high volatile and risky market. The rules of using the amount of money that you can afford to lose applies to trading too but some traders don't care about limiting their chance to high losses because they feel that they understand the market and it is time for them to make profit. Losses is more attached to trading than profits.

Reality hits that as long as there are traders who claim that using high leverage is capable to provide maximum profits, then eventually those beginner traders would definitely seize the opportunity as well to trade with leverage, unfortunately they end up losing more than what they expect it to be.

Greed is what motivates traders to use high leverage, but sometimes we also need to take some risk and become more greedy to achieve excellent profits from trading, but this is only applicable for those who are highly experienced and confident long term traders in the market.

[Oshosondy]

I decided not to create another topic for this.

It was reported that James Wynn has returned to Hyperliquid. He was reported to open 40x leverage again and his assets got liquidated again.

His return:
https://x.com/lookonchain/status/1978280993330262297

His asset liquidation:
https://x.com/lookonchain/status/1978483470226862479


People can learn from James Wynn not to use high leverage.

[tbct_mt2]

It was reported that James Wynn has returned to Hyperliquid. He was reported to open 40x leverage again and his assets got liquidated again.

People can learn from James Wynn not to use high leverage.

James Wynn is only a latest famous lesson while there are many lessons about risk of leveraged tradings and big losses as terrible consequences of uncontrolled traders. Lessons are similar but with bigger captial, your loss will be bigger while risk of loss would be similarly very high with leveraged and futures tradings.

It is the same with all traders, not limited to very rich traders like James Wynn.

Honestly, with a lot of money like this, James would have an easy and comfortable life if he was not a degen and self broke his finance and life this way.

[Oshosondy]

He posted on X that he has lost $100 million few hours ago. Few hour later that he posted that he lost $100 million, he has likely lost $64 million in addition.

https://x.com/JamesWynnReal/status/1981388492388389126?t=OWntpsyHCz8D0RuTs8xl6w&s=19

[tvplus006]

James Wynn shared his expectations for the upcoming week on his X account today: "A big week ahead for crypto. $88-92k would bring in some pain"
We can assume that he will open a big short again)