Topic: A trader lost over $1 Million + on Binance Feature trading (Read 1033 times)

That is what you call slipage. That happens very slightly on Bitcoin because it is highly volatile. When it does, it is purely manipulation. But stop loss is a good thing. Most see it as a negative so they don't use it. But actually it is the one which has the only job to protect your capital in more losses. Because on the first place, you put your SL in an ideal level where it should be the invalidation of your initial trade. When you are wrong it will be triggered. You don't want to lose more money when you are wrong so you use the Stop loss especially if you are trading leveraged trades or in futures trading.

When making out some short trades or with those fast execution kind of positions on which Stop losses would really be that something recommended or something that not those short term traders would be using because on the time that the volatility would really be able to trigger it out then it would really be that a complete loss and this is something that you wont really be trying to cope up with those loses
but of course you would really be waiting up for some recovery but since we are dealing with high leverage then liquidation price might be hit and this could be ending up on having that overall loss.

This is why its not really that suggested or recommended for people to switch up directly with futures trading specially with those all in leverage 125x or even something that goes beyond 10x
then this is where i could really tell that its not something that everyone could really be able to pull it off. This is why as much as possible you should really be making yourself
that be getting used to spot first before you would be tending to go into futures.

I agree that stop loss is the biggest problem here, but considering how quick these are, even if you put a stop loss, it could crash before it's even sold, and that's not really impossible. You will try to sell cheaper and cheaper, whereas someone else will try to sell cheaper and cheaper, which could be sold and yours won't. In this case too, you may end up being in the wrong so much and the price changes so quickly that you may end up with absolutely nothing at all and you would end up with a trouble.

I would say that still putting up a stop loss is crucial, maybe it will work or maybe it won't work, but in the end we should still do whatever we can do with it, and that's the most important situation. I hope that we could get greater in the end with time.

how can he trade futures on PEPE tokens, meme tokens are famous for speculation and high risk, their value is created not because of use but because of the liquidity of several individuals

trading futures + MEME tokens + not setting a stop loss = 100% loss

He should have learned from the mistakes of many people when trading Shiba Inu tokens, only trading Bitcoin can make funds quite stable

Trading up with no SL is really that something that bound for a disastrous kind of trade specially if it would be leave out open and not really that something being watched or monitored because on the time that the market would really be having that extreme volatility then it could cause up that huge loses or getting liquidated if you wont be able to close it out right away. SL's are really that recommended but there are really just that those traders who do really believe and confident that they could make money.

On the time that they do see up those kind of swings and gets liquidated then this is the only time that they will really be having those kind of regret. $1M isnt a joke amount
and loses could really be that something more if you arent really that mindful about having that risk taking thing or management on which we know that this is something
very crucial and very important specially on this unpredictable space.

I have seen this post recently on social media, and based on the story he made an open trade without a stop loss, and after this mistake trade he got a second chance to recover back at least with his losses and can be used a good start agad. This is the reason why having a TP and SL is an essential in trading that you should use. Ive seen other traders sleeping well while they have an open position but most of their trades is in a long so they expect a good price when they woke up which is opposite to what happened in OP's shared story.

Right. Even though I am sorry for the money the trader lost, he should have realized that trading with that much money carries a very big risk, especially when he chooses to trade with future trading. I once tried trading with future trading. Even though the profits that can be obtained are large, the risk is that we actually lose the money we have. Well, in the end I prefer to trade as usual using money that I am willing to lose.

Based on the story, I was not convinced that this person was a real trader. He could afford to lose, it can't deny but a having lack of knowledge will never end well instead, terrible losses. We don't know why he chooses meme coins or if someone pushes him to do that because if you are an experienced trader, you can't spend that huge amount in a shitcoin. I can feel his disappointment and a lesson to learn for everyone that we need to know more about trading if we want to succeed and much more about choosing the coin to use. We must know that trading is different from gambling, therefore, we act like we are trading in real life.

On the moment that you have applied gambling mindset on dealing up with trading then expect that it would incur tons of loses on which you might or might not be able to control or would be able to solve it out easily on which means that possibility of recovery could neither happen or not due to that devastation on which this is something that you could really be able to expect to happen.

When dealing up with futures then anything that goes beyond 10x is something that would really be that too risky for you to deal up with and this is something that you would really be that needing to consider
for you to be careful because every tick of price movement then it would be that resulting for you to lose money your entire trading capital in a snap once you do get liquidated.
Yes, its highly profitable or could make huge money if it goes well but dont forget about the probabilities about on the things that it could happen too when things
go south.

even future trading with ethereum is already such a pain in the ass now we are talking about meme coin future trading where he tries to leverage his earning  obviously its not gonna end well.
usually degens only put the money at stake that they can afford to lose that is what motivating them to be brave enough to make some big bets with big leverage but putting 1 million at stake seems very irresponsible.
but at the end of the day its his money, he can do whatever he wants with it, even opening future position with it using high leverage. but i hope that now he knows that sometime getting too greedy might come out harmful.
hope you can get a recovery on your money though.
after all losing millions to meme coin while other are making millions from small investment just doesn't feel right, i mean i have my share of experience losing money to meme coin but im grateful enough that its not significant amount of money we are talking about.
with millions of money, maybe sniping coin in the market with little capital but in bulk might works better than future trading.

Without proper risks management
Without proper emotion handling
Without proper capital handling
Without proper analysis
Without sufficient spot trading expertise

Then you would really be finding out yourself having a hard time on dealing up with the market specially on higher leverage trades on which some people consider it out
as a gambling thing because of the high risks that it do involves. Somehow if you do really know on what you are doing then i dont really see any issues in regarding on this one.
There are really just that people who do mishandle out themselves on the time that they do deal up with futures trading. Loses scope would be totally limitless or would really be
just that depending on the amount that you are using.

He's greediness took him to the next level and that won't care whether you've been here since the age of time or new. He lacked of risk management.
With the plunged today, a lot has been liquidated again. Many don't learn from their mistakes and from the others too.
Never leverage when you don't see the market clearly where it's going and most of us have an idea where it's going but the pressure is on for the leverage/futures traders.

He has started crypto trading since 2017 doesn't mean he knows how to trade the futures market. He might only be one of the opportune people to invest in cryptocurrency easily but became greedy and wanted to make more since the crypto market is not performing as many expected in recent times. I can only term that "greed" if that is the case. We should know that the higher our risks, the higher could be the gain and the loss. I feel sorry for this guy!

That is the point, if anyone believes they can make a fortune overnight, they have a higher chance of losing everything instead. Trading has to be done carefully and systematically with the right psychology, trading system and management in play. The guy cannot carefully observe all of these and still lost woefully the way he did. If you do not know how to trade the futures/margin market, never trade it, and if you must trade, let the money and risk management be ringing in your head above all other things else.

Spot trading is almost the same thing as buying your asset in your wallet and keeping it. Why can't the guy opt for this option if not for greed? And the 100% liquidation in Binance is what we all sign for if we are trying to trade Binance futures trading, so Binance should not be blamed in this regard. No one should engage in what they do not know or understand and we should weigh our risks accordingly before taking it.

Are you telling me the guy did not know that the market could go either way, so why can't he plan the 85-90% you are pointing to by the use of a stop loss? All these tools and functions are there, so I see no reason why anyone should blame the exchange. I wonder about the huge risk the guy must have taken for a whole $1M to be liquidated. That must have been a daring attitude which is orchestrated by his greed.

he definitely knows the risk, but some people just don't care about the risk because they are pretty optimstic with their bets which often caught them off guard to be honest just like leveraging millions into pepe coin i'm pretty sure that if he bets millions on leveraged trade, he already understand the ins and outs of future trading with leveraged capital, but they just so lacking when it comes to risk management, so that they just don't care.

to be honest though there are plenty of such people, there's no shortage of meme coin investors that willing to put all their capitals into meme coin hoping that their money would suddenly become millions.
same thing with this guy, pepe coin already have quite high market cap and he try to profit off the meme coin he just went on leveraging, aside from that its definitely his fault.

i hope it will be a lesson for him not to be too reckless on leveraging capital because we all know the higher leverage the lower margin require for our money to be liquidated.
its just really bad idea future trading with millions in the first place anyway.

It's true that looking at the top coins is a better way to approach trading. There are a lot of people who make a lot of mistakes and that usually ends up with them making a loss, I believe that it's much better if you could just end up with a good return and in order to do that you have to be careful.

I believe that we could make some money if we know what we are doing, and in order to get better we should be considering the possibility of making money as something we could do with proper coins. If we look into coins and tokens that are only hyped and not have any fundamental benefit, then we are going to be pretty much upset about what we have. Usually people lose too much money just because they invest into silly stuff.

Risks management would really be always that something that needs to be considered on the time that you do step your foot into this market on which there's no way that you could really be able to make yourself be that having secured or having that assurance that you could be able to make money. Risks of losing would really be there and if you wont really be that careful into your decisions then you would really be definitely be losing up even more rather than on earning. So it would really be that vary but of course market condition would be something that cant be known.

Majority of us does know the risks on dealing up with futures. This is something that could bring out fast profits but at the same time it could really be something that could bring out
too fast liquidations once the price would really be going into the opposite side. You should always consider about the risks factors involved.

The trader needs to understand the risks associated with trading. Moreover in future trading the risk associated is more high. Hence he should have taken extra precaution for that. That’s why many legends have advised to trade with the amount that you can afford to lose. The trader unfortunately put all his money in trading, and now all is gone. This only sets an example that how dangerous trading can be if not done carefully.

Yes trading is not easy trading requires a lot of experience. Even so, futures trading is the most risky. There are many investors who are very experienced and sometimes get 100% liquidation in futures trading.

I have a real experience with futures trading that is I saw my friend trading one of these coins. When he took the trade he took 5x long. The first time he was able to make a profit from his trading but later when he got greedy and took the same 5x long trade with double amount of dollars he got liquidated even he lost his entire dollar. I used to get involved in this trading sometimes but after seeing the liquidation of many people, I don't get involved in this terrible trading like this future trading anymore. Everyone who has ever traded futures has lost. No one can say that I have never lost trading futures. In my opinion those who have small amount of dollars or money should avoid this futures trading. Spot trading should be done instead of futures trading it is safer.

Every mistake in trading makes you suffer in the end. A clever and smart trader never puts a very huge amount into trading because that will create temptations. Greediness is a usual issue in trading, anyone can fall into such a situation especially if you think that you already control the market. Unfortunately, we only fail in the sense that we can't control it, and no matter what we do, we can't underestimate the volatility of the market. Yes, we can make a good profit now but can't ensure we can make it all day. That is why most traders don't spend too much on the computer or have 24/7 because stress can also affect our minds and can't think good anymore. Plus greediness, that something turns into a terrible loss like losing $1m especially if we are talking about Future trading.

If a trader does not adhere to risk management, then his position will be liquidated sooner or later. And I cannot sympathize with such traders who are to blame for the loss of money themselves. But it surprises me that Binance has reduced the liquidation percentage to 85%. It turns out that now every trader who has received liquidation can ask for a Binance to reduce the liquidation percentage.