Topic: A trader lost over $1 Million + on Binance Feature trading - page 2. (Read 1032 times)
As a gambler, we need to be prepared of what next to come for us to make money from trading because the road is not as easy as many people keep saying it. I could remember when I start learning how to trade. I spent sleepless night trying to get the full understanding about trading but it was very difficult for me and I was not able to meet up. We need to be wise and take decisions that would help us for us to learn how to trade. Trading is not easy and can be difficult especially when we are new to it. Even as a trader, I know of people that takes too many risks to make money in trading which does not worth it at all.
It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.
He doesn't has no shit than that money. He has nothing left other than that money with him perhaps I should give you some back of the story.
He has a total balance of a million dollars and he was greedy in my opinion because if he strategies his plan very well, he would make more without doing leverage but instead be chosed the shortcut that burnt his hands.
If you read through this page, there were some news that Coinbase is going to list pepe but then it was rumors then and he decide to play the game by opening long position to close on the news but the market moves the other way and he got liquidated by 100% which is abnormal and then he went and cried on Twitter how he had nothing to start from and Binance help him to rectify the issue by reducing the liquidation to 85% and he got back the rest of PNL on his wallet.
I just think he was reckless and greedy but I think it's a good thing that a scape goat exist among us so other people can learn on the dangers on leverage trading.
His mistake was not setting SL, therefore his money was all liquidated, this is a common mistake of beginners or people who are too confident, I think maybe he is a professional in investment but he is not good at trading futures that have leverage, I think it is not strange to lose a lot of money in future trading because yes the high risk is very high compared to spot trading. And what's worse is that he used all his money, which means he doesn't have good risk and financial management in his trading activities, feeling confident is good but we don't know that there is a wormhole in our steps in front that can kill quickly.
This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.
Its fatal mistake for future trader, not using Stop Loss feature for minimalizing low risk than have to get liquidation after market easily get crash immediately. I think bigger problem with future trading most people expected want to earn much profit in short term and use maximum leverage to get large opportunity with profit, but their margin not support yet when market crashing around 20% until 30% easily get liquidation notice at account. This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.
Agree with your opinion, how long make research with some coins in the future always use stop loss feature get minimalize lower risk, still has second chance and capital to trade another coin in future and wish get more profitable. I don't know how long most of trader interested with future trading because every market crash thousand hundred trader loss much money and getting liquidation.
Its not something a leisure or entertainment thing that you would be having like in gambling field on which its a different thing. It wont really be just that right on having this kind of approach because trading isnt something that will really be making you enjoy but instead this is something can be considered to be an investment or source of income if you dont it well. When it comes to futures trading then its been known that it would really be that nearly be like gambling specially into those high leverage on which we know that once you do make some mistake then your liquidated and this is something that not all would really be able to handle out.
This is why its really that important that you should really know on what you are doing and on what you are dealing with.
His mistake was not setting SL, therefore his money was all liquidated, this is a common mistake of beginners or people who are too confident, I think maybe he is a professional in investment but he is not good at trading futures that have leverage, I think it is not strange to lose a lot of money in future trading because yes the high risk is very high compared to spot trading. And what's worse is that he used all his money, which means he doesn't have good risk and financial management in his trading activities, feeling confident is good but we don't know that there is a wormhole in our steps in front that can kill quickly.
This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.
Its fatal mistake for future trader, not using Stop Loss feature for minimalizing low risk than have to get liquidation after market easily get crash immediately. I think bigger problem with future trading most people expected want to earn much profit in short term and use maximum leverage to get large opportunity with profit, but their margin not support yet when market crashing around 20% until 30% easily get liquidation notice at account. This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.
Agree with your opinion, how long make research with some coins in the future always use stop loss feature get minimalize lower risk, still has second chance and capital to trade another coin in future and wish get more profitable. I don't know how long most of trader interested with future trading because every market crash thousand hundred trader loss much money and getting liquidation.
Another case of futures trading. Why don't people learn from the mistakes of others who take futures trading too lightly? This is the reason why futures trading is not for everyone, because futures trading is very risky and at any time your deposit can be lost if you don't take it seriously. I couldn't understand how it was possible for him to trade futures without putting a stop-loss and just leave it and sleep. It was just quite absurd to see such an idiot like that. Moreover, he invested in meme coin, the price of which is very speculative, which is quite funny too.
...1 million dollars gone ouch , this should bring nightmares!!!
Hopefully, the trader will learn a proper lesson from this loss, which will allow him not to repeat mistakes that may lead to liquidation in the future. So in that case, this loss would be seen as a lesson that was worth $1 million.
That is the dilemma of most traders when you are dealing with futures. If you made a mistake, it will cost you big. But if you are lucky, you will reap your rewards. Since the alt involved is pepe, it is quite hard to trust the movement of alts especially meme alts. You can easily go bankrupt in futures if you can't keep up with the market.
A very expensive lesson indeed! Next time, it is always best to diversify your investments. Why put your major investments to only one alt? If you are here in this market, you already understand the high risks involved dealing with alts or meme tokens/coins.
...1 million dollars gone ouch , this should bring nightmares!!!
Hopefully, the trader will learn a proper lesson from this loss, which will allow him not to repeat mistakes that may lead to liquidation in the future. So in that case, this loss would be seen as a lesson that was worth $1 million.
If you are going for leveraged trading, bare in mind that the same profit potential that exists will also be the potential that will eat up your capital and worse off is if you try to make easy money by being greedy such that you over expose your account to liquidation..the end result is a burst!!!
Btw, why not trade with a stop loss and knowing there is this risk..he should have move funds to a spot account or funding account to avoid funds meant for future's trading are used... otherwise this is water under the bridge and a hard lesson taught!!
1 million dollars gone ouch , this should bring nightmares!!!
Btw, why not trade with a stop loss and knowing there is this risk..he should have move funds to a spot account or funding account to avoid funds meant for future's trading are used... otherwise this is water under the bridge and a hard lesson taught!!
1 million dollars gone ouch , this should bring nightmares!!!
...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act. 
It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.
though personally if he invested in meme coin he should know the consequence before hand leveraging 25x against meme coin is no joke, the money could literally vanish just within a blink of an eye, when future trading we are talking short term price change and even if price change a little bit it already affect so much towards the capital, the leverage feature definitely come at cost for boosting the profit.
if the strategy taken is making us a loss, the loss won't be some small amount unlike spot trading but might cause us lost the money 75% at best scenario.
No people will be fine in that situation and for sure that he regret all the decision he made since $1 million dollar is not a small amount. This is hard to earn when you trade so for sure that the person who's affected with this lose is devastated with what he's bad trades experience. So its really better for a lot of aspiring trader to learn a lesson from this huge losses encountered by some people so that they would be more careful in their future trades.
Also they should not select those tokens who consist a lot of risk and much better for them to deal with those top coins or altcoins in the market so that we will not easily got affected by fast changes happen in the market, especially on futures trading where everything is fast so we should be careful on the coins or tokens we choose to trade.
Somehow into those people who do make out such capital and going all in wiith that kind of amount then we can assume that he had a couple of millions too. No one
really knows because once you do reach up this kind of capital and positioning that you are a whale guy without a doubt.
...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.
It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.
🤔
That's actually a very good point that you made. Because why would he - let's assume the trader is a "He", I believe women are more practical and safe with money, - "bet" $1,000,000 and be very careless about it?
BUT, although you're possibly right, I believe losing $1 million will NEVER be the same as losing $10. A pleb can bet $10 and laugh if he loses, but any person, especially a rich person would hate to lose $1,000,000. The emotional attachment on a "million" is simply more overpowering.
...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.
It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.
though personally if he invested in meme coin he should know the consequence before hand leveraging 25x against meme coin is no joke, the money could literally vanish just within a blink of an eye, when future trading we are talking short term price change and even if price change a little bit it already affect so much towards the capital, the leverage feature definitely come at cost for boosting the profit.
if the strategy taken is making us a loss, the loss won't be some small amount unlike spot trading but might cause us lost the money 75% at best scenario.
No people will be fine in that situation and for sure that he regret all the decision he made since $1 million dollar is not a small amount. This is hard to earn when you trade so for sure that the person who's affected with this lose is devastated with what he's bad trades experience. So its really better for a lot of aspiring trader to learn a lesson from this huge losses encountered by some people so that they would be more careful in their future trades.
Also they should not select those tokens who consist a lot of risk and much better for them to deal with those top coins or altcoins in the market so that we will not easily got affected by fast changes happen in the market, especially on futures trading where everything is fast so we should be careful on the coins or tokens we choose to trade.
...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.
It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.
though personally if he invested in meme coin he should know the consequence before hand leveraging 25x against meme coin is no joke, the money could literally vanish just within a blink of an eye, when future trading we are talking short term price change and even if price change a little bit it already affect so much towards the capital, the leverage feature definitely come at cost for boosting the profit.
if the strategy taken is making us a loss, the loss won't be some small amount unlike spot trading but might cause us lost the money 75% at best scenario.
Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.
Some people do claim they are professional trader, so they are always confident that they are not going to lose which is what’s always affecting some of them, when you are trading, you have to be careful, and always take precautions, don’t just trade freely because you have been trading for a long time, and I don’t really encourage people to trade on futures with such a huge amount of money. If you are trading you should do that with little amount of money, and if you are trading on futures, making use of stop loss is not really a bad idea. I have seen that many times many people get lost in the cycle of too much. Before doing futures trading we should prepare ourselves that we should not be greedy for the profit even if it is small but there should be profit instead of losing our investment in the greed of more.
I believe that futures trading can only be done by experienced and knowledgeable people, especially those who can be patient.
Reference
This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.
It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.
Quote
“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.
This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.
It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.
I’m really sorry to hear about your experience. You’ve encountered a harsh reality many face in the volatile world of futures trading. While it offers the potential for substantial profits, as you mentioned, the risks are equally significant.
Regarding Binance, it’s worth noting that while the platform does try to mitigate total liquidation by stopping out positions before they wipe out all assets, trading with high leverage can still lead to substantial losses very quickly. My personal take is that while platforms like Binance offer advanced trading tools and features that can be very beneficial, they also require a sophisticated understanding and an acute awareness of the risks involved.
Hopefully, this experience, though painful, can provide valuable insights for future investments.
His mistake was not setting SL, therefore his money was all liquidated, this is a common mistake of beginners or people who are too confident, I think maybe he is a professional in investment but he is not good at trading futures that have leverage, I think it is not strange to lose a lot of money in future trading because yes the high risk is very high compared to spot trading. And what's worse is that he used all his money, which means he doesn't have good risk and financial management in his trading activities, feeling confident is good but we don't know that there is a wormhole in our steps in front that can kill quickly.
This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.
Its fatal mistake for future trader, not using Stop Loss feature for minimalizing low risk than have to get liquidation after market easily get crash immediately. I think bigger problem with future trading most people expected want to earn much profit in short term and use maximum leverage to get large opportunity with profit, but their margin not support yet when market crashing around 20% until 30% easily get liquidation notice at account. This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.
Agree with your opinion, how long make research with some coins in the future always use stop loss feature get minimalize lower risk, still has second chance and capital to trade another coin in future and wish get more profitable. I don't know how long most of trader interested with future trading because every market crash thousand hundred trader loss much money and getting liquidation.
...Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.
It all depends on what kind of deposit he has. Maybe for him to lose a million is the same as for you to lose 10 dollars. And I assume that this million is not his last and he still has at least 10 million. So he still has the opportunity to continue trading and return the lost money.
In my opinion, and although we should encourage people to buy the DIP and HODL Bitcoin, it's actually understandable if plebs with a very small amount of capital decide to gamble in a shitcoin + leverage. But for an investor who has $1,000,000 and insists on trading shitcoins, which are already volatile, and doing that with leverage then he is gambling with his mental insanity.
That's good advice by buying DIP and HODL instead of small capital by playing gambling on shitcoin + leverage is the same as gambling, sometimes I like to wonder about people who have $1,000,000 assets in shitcoin do they do that because they have spare money behind? But what the OP means is that all his money is in shitcoin so gambling madness is true.
Let's pretend he bought Bitcoin with an average price of $65,000 TODAY. Come back to this topic during 2025. I believe the investment would grow, and be worth at least $5,000,000 in fiat value.
That's common sense thinking then we make sense with my own thinking.
But other people with $1,000,000 hope to $10,000,000 in shitcoin hahahaha.
Or buy a shitcoin on 3x leverage and hope for $30,000,000, then burn through the whole seven figure capital. How do people like that recover from such a very large loss? But there are those kinds of people, the gamblers who have the stomach to take risks, lose everything, but they stand up, try again, and gain back everything they lost + make outstanding profit.
But could that be you? Could that be me? Perhaps, BUT people like those are absolutely the exception. That's less than 2% out of the 100% who tried.
Reference
This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.
It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.
Futures trades will be riskier than spot trades, even when the trader is an expert he is still likely to be liquidated 100% in futures traders and this is proven from this article because he has been trading since 2017, meaning he already has quite a lot of experience, my guess is he thought memecoin would be like it was a few years ago so playing in this very risky coin with a type of trading that was also riskier, it seemed like he was going all in and it was like gambling.Quote
“Just woke up and realised I got liquidated overnight. I was 3x long PEPE. I lost everything I had. I don’t even have $1000 in my bank account but had $1M in Binance. I have been in crypto since 2017. Today I lost everything,” he posted.
This is one disadvantage of future trading. You can make a fortune over night trading on future, but you can also lose it all if you don't apply good risk management. It's obvious that this man did not set a stop-loss point; his greed overshadowed him with too much confidence that the bitcoin price can't dump since the halving is just around the corner.
It's hard to experience total liquidation like this on spot trading, but if I thought Binance by default doesn't allow 100% liquidation on future trading, at least it will automatically stop in the range of 85–90% of the trader's total assets they always tries to leave you with something.
It was quite stupid to put 1 million dollars in assets in exchange even though he didn't have more than $1000 in his bank account.
Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.
Some people do claim they are professional trader, so they are always confident that they are not going to lose which is what’s always affecting some of them, when you are trading, you have to be careful, and always take precautions, don’t just trade freely because you have been trading for a long time, and I don’t really encourage people to trade on futures with such a huge amount of money. If you are trading you should do that with little amount of money, and if you are trading on futures, making use of stop loss is not really a bad idea. He will understand what he has to do and not force himself if he is already losing money on a trade. He will also use the stop loss feature to prevent larger losses and other features.
He also knows how much money he will use to trade and only uses money he can afford. That's a good way to trade and there are many more.
Trading isnnit easy and I am always surprised when I see traders trading in future trades with ease and relaxation.
Some people do claim they are professional trader, so they are always confident that they are not going to lose which is what’s always affecting some of them, when you are trading, you have to be careful, and always take precautions, don’t just trade freely because you have been trading for a long time, and I don’t really encourage people to trade on futures with such a huge amount of money. If you are trading you should do that with little amount of money, and if you are trading on futures, making use of stop loss is not really a bad idea. This is quite a lesson, as long as whatever you are in the crypt world and no matter how good you are at trading risk management is very important and setting SL is a must in my opinion.
And what's worse he did it on meme coin, it's a crazy thing that doesn't enter my mind.
Pray for that person that he will have good luck in his life again, if I were in his position I would be devastated and beaten down by a careless act.
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