A trader betting on Bitcoin was liquidated 12 times in 12 hours.

[PremiumcryptoHub]

Friends, today I will introduce you to a Bitcoin-hating leverage trader.
The title of my topic may not initially convey to anyone that a person (James Wynn) was liquidated 12 times in 12 hours for betting against Bitcoin.

After learning about his activities, it seemed that he did not believe in Bitcoin and also about the price of Bitcoin. It's true that he was liquidated 12 times but the notorious high-leverage trader James Wynn is still betting against Bitcoin.He believes that Bitcoin can return to between $67-92k dollars, which is why he has done such ridiculous things and even suffered huge financial losses because the price of Bitcoin has rebounded and has touched $106k, Bitcoin price has recovered but the idea of recession still remains intact within him.




He may own a lot of assets but he has very little understanding of risk management in crypto as I learned from on-chain data tracker lookonchain that he has been liquidated 45 times in the last two months and after this activity James finally made a winning trade but instead of taking profit, this person has once again bet on Bitcoin breaking down below $92k, which has brought his portfolio down to $6009.79, so these undoubtedly highlight his extreme leverage exposure and poor risk management.

So seeing this person showing so much financial loss, we can be cautious and stop betting on the price of Bitcoin because there is always speculation about the price of Bitcoin, but even then, we can only say its price based on estimates, so Bitcoin can suddenly increase at any time, even it can turn anyone's predictions into lies or truth.

See here





Trader James Wynn Liquidated 12 Times in 12 Hours After Betting Against Bitcoin https://icobench.com/news/trader-james-wynn-liquidated-12-times-in-12-hours-after-betting-against-bitcoin/

[Amphenomenon]

People can be delusional obsessive just to prove their right without seeing or caring about their lost or risks. While being rich this doesn't ignore the facts that he lost a lot. The truth is, we might be expecting the market to tend downward/upward and then being swayed by something else to the other and this is why we need to be careful of our risks and often avoid leverages or trading with no stop loss.

No matter the amount you have, without no calculated or carefully planned risks bankruptcy might be inevitable.

 

[Mia Chloe]

~snip

The fact is any trader that does this isn't even a trader in the first place like who the hell in his right mind revenge trades up to 11 times with such huge lots and risky zones. In as much as we know that bigger risks mean bigger rewards in trading, you still have to consider risk management and apply it accordingly.

People fail a lot at long term profitability which is why more traders give up in the long run compared to those that actually keep up the pace.

[Smartvirus]

He may own a lot of assets but he has very little understanding of risk management in crypto as I learned from on-chain data tracker lookonchain that he has been liquidated 45 times in the last two months and after this activity James finally made a winning trade but instead of taking profit, this person has once again bet on Bitcoin breaking down below $92k, which has brought his portfolio down to $6009.79, so these undoubtedly highlight his extreme leverage exposure and poor risk management.

I haven’t seen something similar being done, predicting the direction of a market in a buy or sell on Rollbit if I’m not mistaken but then, how does one continuously bet on a lowing market. He ought to understand that, he’s taking a way too low price level for his bet and their is a high tendency that Bitcoin price might not dump $95k until we are facing a strong bearish market which isn’t set yet. Bitcoin has taken a limit above the $100k price make and would stay that way till a full bear market is reached.

[justinlamode]

I believe this guy is just chasing social media frenzy, he is not serious as a trader. Maybe he has a lot of money and decided to use some of those money to chase clout. It works in this time and era which social media easily catch fire with trends like this, maybe that is what is playing out like this. The good thing is that he has a lot of investment in real estate and even in Bitcoin, so he just gambling with Bitcoin for fun.

[PremiumcryptoHub]

~snip

In as much as we know that bigger risks mean bigger rewards in trading, you still have to consider risk management and apply it accordingly.

People fail a lot at long term profitability which is why more traders give up in the long run compared to those that actually keep up the pace.

Yes, as far as we know, big risk means big reward in trading but this person is not trading in any particular currency, but he is constantly betting and only facing losses. It is true to a large extent that the crypto market shows no mercy, an example of this is James Wynn because when the price of Bitcoin was going down, he bet that this coin would sink deep, while Bitcoin gained upward momentum, that is bitcoin market is slowly turning bullish.

See another sensational fact, James Wynn was close to winning a trade, but he lost a total of $100,000 on a 40x leverage $BTC short, this is his unwise actions. He can't control his emotions at all, so right now it has become essential for James Wynn to understand the market's performance and the amount of risk.

[Majestic-milf]

I believe this guy is just chasing social media frenzy, he is not serious as a trader. Maybe he has a lot of money and decided to use some of those money to chase clout. It works in this time and era which social media easily catch fire with trends like this, maybe that is what is playing out like this. The good thing is that he has a lot of investment in real estate and even in Bitcoin, so he just gambling with Bitcoin for fun.

For how long him go dey waste funds just to prove a very stupid point wey no dey? Well if nah clout him wan chase make him continue nah because people like this no dey waste time lose interest especially when him see say him plan no get the desired effect. At this rate e no go make sense to call am trader of him wan deliberately dey lose nah.

[Joy_learns_crypto]

I believe this guy is just chasing social media frenzy, he is not serious as a trader. Maybe he has a lot of money and decided to use some of those money to chase clout. It works in this time and era which social media easily catch fire with trends like this, maybe that is what is playing out like this. The good thing is that he has a lot of investment in real estate and even in Bitcoin, so he just gambling with Bitcoin for fun.

Me too I believe he is chasing social media show. He is not just gambling for fun but for say make them talk about am for social media.
I no send any of this type of people even if them Dey make social media notice bitcoin them Dey also give bitcoin what we no want like the attention way no good .
If him one trend make him trend but me I Dey too in front of social media to take this man serious.

[I_Anime]

His not a trader is a gambler rather , cause one thing that make you a professional trader is how you manage your risks not just the skill seff , the nigga is putting a lot of things at stake to prove himself right , yeah there are chance of bitcoin Falling to that point and there are still chances of bitcoin not going back to that range during the dip . Even though bitcoin later did , there would be a lot of up and down movement before then and bitcoin may choose to do some massive up movement before the bear market would begin we just have to be guided this how most newbies come to this space with the wrong mindset cause what they are seeing online ( social medias ).

[Padi24]

People can be delusional obsessive just to prove their right without seeing or caring about their lost or risks. While being rich this doesn't ignore the facts that he lost a lot. The truth is, we might be expecting the market to tend downward/upward and then being swayed by something else to the other and this is why we need to be careful of our risks and often avoid leverages or trading with no stop loss.

No matter the amount you have, without no calculated or carefully planned risks bankruptcy might be inevitable.

 

This is more reason to prove to us that trading is next to gambling because it's only in gambling that one can experience this similar thing I mean losing everything within the couple of 12hours, and this is obviously how it is in gambling when one is chasing after losses as one will keep going and going and if they sees that they still have enough money in their bankroll they can decide to go all in with the hope of recovering from all their Lost and the moment they decided to implement this method then luck is going to run far away from them until they squander everything.

Actually I have nothing much to say regarding this than to say that those who are still into trading need to be very cautious, if surely they are going to trade they should use what they know they can easily afford not just putting what we can't afford maybe when the market didn't go as plan then  we start facing some emotional trauma no, it's very bad. If it were possible I would have restrict people from going into trading because they are so ignorant due to curiosity and being too hasty to make profit from crypto when they already know the right step to take.