I do not have an idea on how to trade futures, but with the little research I meant about future trading, I concluded that it is a kind of gambling. And it is only those who are mentally strong and emotionally rugged that goes into features with such amount of capital.
It's like gambling if you look at how the process is, just do a guess and place a bet with 3x, 10x or even 100x leverage.
If the guess is wrong and the price is far from what was guessed, then Liquidation will occur and everything will be lost.
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.
A professional alone will not use all his money for futures trading, let alone use too high leverage.
That is super risky why did he invest in Meme tokens like Pepe it does not have any use and the thing here is he doesn't know how to use a stop-loss.
He used a meme coins because I guess it is more volatile and such can give faster profits. Maybe, he didn't use stop loss because his capital was much and as such he didn't think he could be liquidated.
Expect to take a lot of the difference that occurs when PEPE price fluctuations move, but if you don't use Stop Loss, then it will be disastrous.
His fault was also that he did not monitor the trades made.
But it would be foolish to lose $1 million in assets because of futures trading in memecoin.