Topic: A trader lost over $1 Million + on Binance Feature trading - page 5. (Read 1033 times)
Future trading is very risky I was once very addicted to futures trading because I became very greedy. And slowly I lost $40k there then I gave up futures trading very hard. This is a death trap for a trader. from here it is possible to make huge profits in a short period of time by trading with a small amount of money if an accurate prediction is made. But if the prediction is wrong, the trading fund is lost. It is very much like gambling so it is better to stay away from futures trading. and if one is interested then he should not spend too much money there. the op's story hit me hard because it reminded me of something that happened to me in the past
This is an example of someone who is involved in the crypto world but cannot control his emotions which makes him greedy because he wants to get rich quickly and in the end loses everything. This is where we also learn that if someone knows about the crypto world from 2017, it doesn't mean they are an expert in the crypto field. The proof is that he is still trapped in coin memes, even though if he had known crypto for a long time, his wise choice would have been to invest in Bitcoin, or at least with $1 million that he could allocate to various coins, which does not mean putting all your eggs in one basket. The world of crypto is full of risks, if you make a mistake or take the wrong decision then in an instant you will lose everything. So be wise in managing your finances in the crypto world.
degens will always be a degens, most of the people trading meme coin are degens with high risk tolerance but definitely losing a million they will still gonna regret their previous decision because its not some measly amount, but as far as I know these people don't really like diversification of their portfolio because what they are seeking are fast profit and in fast paced manner.there are many degesn who keeps betting on these meme coin putting thousands of dollars is just a small thing for them, so talking about reducing risk with them is just wasting time.
but as always if they know what they are doing, willing to risk that amount of the money and fully knows what the consequence that it has, its definitely gonna be fine.
they're doing the speculations here in hopes of making quick profit even leveraging 2x with meme coin i already considered crazy but these people just went 25x leverage.
The only thing that you should really be mindful is to take out profits on the time that you do able to make some nasty profits or having those multipliers. Leave some coins for moon bag and transfer into another project on which this is something that would really be that somewhat effective if you do hover yourself on degen or meme coin world.
If you cant be able to bare up with the risks then this market isnt for you and better stick into those well established coins or projects which is far more better than dealing with memes or degens
but actually i do find myself that enjoying into this field considering the risks is high and so as with the rewards. As long you could be able to bare up with the risks
then it should be just fine.
This is an example of someone who is involved in the crypto world but cannot control his emotions which makes him greedy because he wants to get rich quickly and in the end loses everything. This is where we also learn that if someone knows about the crypto world from 2017, it doesn't mean they are an expert in the crypto field. The proof is that he is still trapped in coin memes, even though if he had known crypto for a long time, his wise choice would have been to invest in Bitcoin, or at least with $1 million that he could allocate to various coins, which does not mean putting all your eggs in one basket. The world of crypto is full of risks, if you make a mistake or take the wrong decision then in an instant you will lose everything. So be wise in managing your finances in the crypto world.
degens will always be a degens, most of the people trading meme coin are degens with high risk tolerance but definitely losing a million they will still gonna regret their previous decision because its not some measly amount, but as far as I know these people don't really like diversification of their portfolio because what they are seeking are fast profit and in fast paced manner.there are many degesn who keeps betting on these meme coin putting thousands of dollars is just a small thing for them, so talking about reducing risk with them is just wasting time.
but as always if they know what they are doing, willing to risk that amount of the money and fully knows what the consequence that it has, its definitely gonna be fine.
they're doing the speculations here in hopes of making quick profit even leveraging 2x with meme coin i already considered crazy but these people just went 25x leverage.
It is surprising that someone who has been in crypto since 2017, using $1 million to gamble with meme coins in Binance future trading. If he learned much since 2017 and got experience with meme coins, he mustn't spend $1 million for meme coins. Even worse, he spend the money in future trading. I'm a bit confusing with him, why he didn't to use the money on safe coin like Bitcoin and choose spot trading. 
This is an example of someone who is involved in the crypto world but cannot control his emotions which makes him greedy because he wants to get rich quickly and in the end loses everything. This is where we also learn that if someone knows about the crypto world from 2017, it doesn't mean they are an expert in the crypto field. The proof is that he is still trapped in coin memes, even though if he had known crypto for a long time, his wise choice would have been to invest in Bitcoin, or at least with $1 million that he could allocate to various coins, which does not mean putting all your eggs in one basket. The world of crypto is full of risks, if you make a mistake or take the wrong decision then in an instant you will lose everything. So be wise in managing your finances in the crypto world. But many beginners make the mistake of using high leverage to get bigger profits but also go all in for futures trading, it is even a stupid long-term trading decision.
He isn't a beginner anymore, he has joined crypto since 2017. He seemed not doing trading but he invested the money in meme coins. Honestly, it is a very careless way in trading for an experienced trader. I think someone who has been trading in crypto since 2017 must be wiser. Even he wants to gamble with meme coins in future trading, it shouldn't be with $1 million.
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.
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.
First of all, you need to know that trading is not easy as most people think, but if you have the right knowledge on how to navigate your way in the market, then you will definitely comes out profitable, so don't be deceived by what most people will say that you don't need to be taught before you start trading, it's true that you can actually start on your own without anybody, but you will definitely get burn(liquidated) at some point for venturing into the futures markets with zero knowledge on how to navigate your way around it.
Lastly, in trading it's very much important to trade with a margin you can afford to lose, so that your emotions can be in check, so for him to be trading with a margin of one million dollars is a very high level of stupidity and incompetence, which he paid for his ignorance dearly, the best he would have done is to use like 0.50% of that one million dollars to invest in knowledge which would really have come in handy for him, and this liquidation would have been avoided.
Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.
Inexperienced? He's been in crypto for over 7 years and has made $1M try if I do it probably won't reach that number, I think he has been experience so he can make a lot of money in crypto.But this is his own fault that I think all his assets are in PEPE not diversifying, then he traded futures without stop-loses or he forgot? I don't know what happened exactly.
This is clearly a fatal mistake, the money that has been lost a lot is unlikely to come back again in a short time, but that's the risk in futures will be liquidated if not doing a good enough discipline.
You wont really be able to reach up on a certain state if you dont really know on how to hover up yourself well. Once you do gain up that sufficient experience then it would really be an advantage but doesnt mean that
you arent that prone to loses such as this one. If he's that been doing trading for how many years but it cant be able to removed out the risks that he could bust up all the money he has. There would really be decisions
and choices that we do make out on will it would really be causing for us to huge up that loss of money but of course it would really be that basing up into your own choice because if you've seen yourself
that dealing with high leverage then you do know about the risks involved with it.
I saw that a few days ago and I really can't believe it. I wouldn't take risk a million dollars doing futures and on a meme coin, that's really risky. As practiced, we should practice using stop loss feature use only around 5% - 10% of our total bankroll every trade but I think that user didn't really expect a crash but still, with that kind of money he should at least put a stop loss, that was really an expensive learnings for him.
I think he has around $1000 in his account from the million he has.
I think you are talking about that Crypto Nerd user on Twitter who shared his story that he invested $1.1 million dollars in Pepe and also used 3x leverage. And overnight he liquidated by market. But fortunately, he was refunded some money by the Binance. He got a refund of 17% so according to this he got around $180k amount. I think he has around $1000 in his account from the million he has.
I was also shocked to hear this news that why would a person open a future trade, in a meme token, and without stop loss? I mean that's the big mistake that we all should avoid and he (the victim) was into crypto for more than 4 years I guess. Well, I am glad that he got some of his funds back and now he can resume his journey again, otherwise, he was talking about suicide.
PS: I didn't notice the OP post, directly jumped here silly me.
Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.
Inexperienced? He's been in crypto for over 7 years and has made $1M try if I do it probably won't reach that number, I think he has been experience so he can make a lot of money in crypto.But this is his own fault that I think all his assets are in PEPE not diversifying, then he traded futures without stop-loses or he forgot? I don't know what happened exactly.
This is clearly a fatal mistake, the money that has been lost a lot is unlikely to come back again in a short time, but that's the risk in futures will be liquidated if not doing a good enough discipline.
Having experience in crypto doesn’t shield anyone from the volatility and potential pitfalls. That's what happens when you put all your eggs in PEPE basket
Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.
Inexperienced? He's been in crypto for over 7 years and has made $1M try if I do it probably won't reach that number, I think he has been experience so he can make a lot of money in crypto.But this is his own fault that I think all his assets are in PEPE not diversifying, then he traded futures without stop-loses or he forgot? I don't know what happened exactly.
This is clearly a fatal mistake, the money that has been lost a lot is unlikely to come back again in a short time, but that's the risk in futures will be liquidated if not doing a good enough discipline.
I saw that a few days ago and I really can't believe it. I wouldn't take risk a million dollars doing futures and on a meme coin, that's really risky. As practiced, we should practice using stop loss feature use only around 5% - 10% of our total bankroll every trade but I think that user didn't really expect a crash but still, with that kind of money he should at least put a stop loss, that was really an expensive learnings for him.
I think he has around $1000 in his account from the million he has.
I think he has around $1000 in his account from the million he has.
Don't see on one side only about $1 million lost over in Binance but also looking the other side with the user put short position earned more $1 million, I think when some trader put long position in other way has trader earn benefit by opening short position and earn much profitable after market get crashing.
All future traders understanding well with high risk and high return with future trading, we can see million dollar lost over with future trading when market pump and dump immediately. If want to get much profitable with future trading have large fund to protect more far away with price liquidation, I think after market crashing down many future trader will set up for opening long position with potential more profitable earn when bitcoin recovery to higher price.
All future traders understanding well with high risk and high return with future trading, we can see million dollar lost over with future trading when market pump and dump immediately. If want to get much profitable with future trading have large fund to protect more far away with price liquidation, I think after market crashing down many future trader will set up for opening long position with potential more profitable earn when bitcoin recovery to higher price.
With that refund he got, he's likely to lose them again. Why? Because the thought that he's got on his mind is the revenge recovery, he's gone too far and lost over $1M with his entire stay on the market but then, the likely refund that he's got wouldn't be enough for him to accept if he's not going to accept it with his ego. But if not and if I am wrong then it's best for him to stick to a recovery plan in a safer mode and have a safer approach in trading.
Haha, he was going to lose that money sooner or later.
- He has $1,000,000 of investment capital and kept it all in Binance.
- Although he has seven figures, he uses high leverage.
With seven figures, there wasn't a need for him to trade with high leverage considering the volatility of cryptocurrencies. Pretend he merely HODLed Bitcoin starting today. Let's go back to this topic on 2026.
- He has $1,000,000 of investment capital and kept it all in Binance.
- Although he has seven figures, he uses high leverage.
With seven figures, there wasn't a need for him to trade with high leverage considering the volatility of cryptocurrencies. Pretend he merely HODLed Bitcoin starting today. Let's go back to this topic on 2026.
X3 is not a high leverage but rather he just use a very volatile asset that can decrease value with greater than 50% and above in a short period of time that’s why he suffer this kind of liquidation.
He or everyone else shouldn’t leverage on meme coin because you will surely suffer liquidation or frequent stop loss due to its strong price swing both times ways. I never experienced being liquidated on this low leverage trades because I only trade top altcoins and Bitcoin that doesn’t have a terrible volatility compared to memecoin. Memecoin is the worst coin to choose on futures trade.
Perhaps not, but he still lost $1,000,000 for using leverage on a shitcoin. It was probably "OK" for an individual to take a long position in a shitcoin with leverage if you want to gamble and grow your investment capital to four or five figures. But if you ask me, if you reach six figures that's probably the point that an individual should stop trading shitcoins on leverage and start HODLing positions in Bitcoin/high-value altcoins.
Why would he bet all the money on PEPE with a long 3x if he intends to turn $1M into $2M? It's so crazy that you can't imagine losing it just like that especially since he started in 2017.
This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.
Could it be said that he is so greedy? Or did he just forget to put a stop-lose?
Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling. This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.
Could it be said that he is so greedy? Or did he just forget to put a stop-lose?
Why would he bet all the money on PEPE with a long 3x if he intends to turn $1M into $2M? It's so crazy that you can't imagine losing it just like that especially since he started in 2017.
This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.
Could it be said that he is so greedy? Or did he just forget to put a stop-lose?
Even on that 3x long wont really be guaranteeing that you are on safer side comparing into those who had put up that 100x or 125x. This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.
Could it be said that he is so greedy? Or did he just forget to put a stop-lose?
We do know that each one of us would really be having our own bets and coins that we do really believe that going up to the moon, it is really just that this trader become that too confident with $PEPE
without even trying out to look about the probabilities of drop considering that we are approaching the halving event of Bitcoin. Some do really that become that too confident on their long positions
without even considering that those corrections on which it did really happen.
Even if you do really have that 3x long position but you would really be still that liquidated if the market would turn south.
This is the thing i dont like with futures comparing out to spot of course.
You've been on crypto for 7 years, you've collected a lot from your trades and won them hardly. And on an instant, you're going to do something like that?
I'm not sure if it's just me that doesn't buy the story. Everything that can be made on Twitter can be made-up to gain more following and engagement and on his end, he's able to do that successful.
What's the twist of the story? He's gained back around $180k+ because he's not 100% liquidated but said like around 83% only. I'm confused and that's why I'm not buying it although if it's Binance not liquidating 100% but there's still some things that don't click on my mind.
I'm not sure if it's just me that doesn't buy the story. Everything that can be made on Twitter can be made-up to gain more following and engagement and on his end, he's able to do that successful.
What's the twist of the story? He's gained back around $180k+ because he's not 100% liquidated but said like around 83% only. I'm confused and that's why I'm not buying it although if it's Binance not liquidating 100% but there's still some things that don't click on my mind.
Why would he bet all the money on PEPE with a long 3x if he intends to turn $1M into $2M? It's so crazy that you can't imagine losing it just like that especially since he started in 2017.
This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.
Could it be said that he is so greedy? Or did he just forget to put a stop-lose?
This is what I don't like about futures trading I know if the person puts a stop-lose then it won't lose all but if you ignore it the loss will be faster, more trading on spot you won't lose more but for memes we consider it still the same high risk.
Could it be said that he is so greedy? Or did he just forget to put a stop-lose?
He woke up poor because he was liquidated due to futures trading without stop-los, really greedy for putting all his $1M in futures trading.
What he did was really bad, he didn't have money in the bank he just relied on risky trading but he didn't care before the incident, after losing he must regret what he did.
This is shitcoin / meme easily fluctuates high compared to bitcoin, even though it is only 3x long, the potential for liquidation is quite large, the point is that he did not do the right management.
What he did was really bad, he didn't have money in the bank he just relied on risky trading but he didn't care before the incident, after losing he must regret what he did.
This is shitcoin / meme easily fluctuates high compared to bitcoin, even though it is only 3x long, the potential for liquidation is quite large, the point is that he did not do the right management.
He had been too bold by using all his money to trade futures. He might use Cross mode instead of Isolated because in Cross mode, all his money would be used for trading.
This is a very valuable lesson for all of us. We must allocate an amount of money that we can afford for trading. By allocating funds, we can avoid large losses like what he experienced. We don't need to use all the money to trade, especially if we are not very good at trading.
The risks in future trading are very large, so people must be able to manage their funds. Don't be greedy in chasing victory, especially if market conditions are unstable.
This is a very valuable lesson for all of us. We must allocate an amount of money that we can afford for trading. By allocating funds, we can avoid large losses like what he experienced. We don't need to use all the money to trade, especially if we are not very good at trading.
The risks in future trading are very large, so people must be able to manage their funds. Don't be greedy in chasing victory, especially if market conditions are unstable.
It is surprising that someone who has been in crypto since 2017, using $1 million to gamble with meme coins in Binance future trading. If he learned much since 2017 and got experience with meme coins, he mustn't spend $1 million for meme coins. Even worse, he spend the money in future trading. I'm a bit confusing with him, why he didn't to use the money on safe coin like Bitcoin and choose spot trading.
But many beginners make the mistake of using high leverage to get bigger profits but also go all in for futures trading, it is even a stupid long-term trading decision.
He isn't a beginner anymore, he has joined crypto since 2017. He seemed not doing trading but he invested the money in meme coins. Honestly, it is a very careless way in trading for an experienced trader. I think someone who has been trading in crypto since 2017 must be wiser. Even he wants to gamble with meme coins in future trading, it shouldn't be with $1 million.Jump to: