Well, it looks like the Dash shorters will finally get to learn that painfull lesson on why shorting Dash is not a terribly clever idea, specially not in a bull market.
Listening to pump and dump groups is also not a very clever strategy, but then again who am i to deny you guys that right .. specially when it serves
Dash so very well in the end.
Link : https://www.reddit.com/r/ethtrader/comments/606fz4/my_final_margin_call/
Listening to pump and dump groups is also not a very clever strategy, but then again who am i to deny you guys that right .. specially when it serves
Dash so very well in the end.
Link : https://www.reddit.com/r/ethtrader/comments/606fz4/my_final_margin_call/
It's a sad story, but the truly amazing thing is that he didn't learn anything at all. That day he posted on /r/BitcoinMarkets about how he'd lost 150 BTC "shorting some shitcoin." Rule #1 of trading: if you're going to short, at least find out if the asset your shorting is something that might have real potential.
The biggest irony of all? This was posted on the same day that we hit our ATH of .124. While I can't be 100% certain that this was the short that pushed us to that height, it seems likely given the size of the short and the size of the wick (in retrospect) on the 1D charts.
tl;dr If he had had even 1-2% more collateral (and/or had opened his short just a few hours later than he did at a slightly higher price) he probably would have survived the peak and made a fortune by potentially closing today at .06ish.
It demonstrate traders can still be negatively effected by their emotions. It gets in their way of rational thinking i guess.
