Topic: Chinese Crypto Trader Committed Suicide ( lesson for all crypto traders ) (Read 738 times)

Its sad when I hear news like this, people committing suicide because they lose a lot of money. Life is the most important thing and we have life we can rebuild whatever we have lost. This should be a lesson to all traders that we shouldn't invest too much money.

This is really sad news and my heart goes to his family and loves one. It is a big and hard way to learn. High leverage is not different from gambling and having a mind of double your earning is a temptation to lose. If you want to remain in trading for long then always invest money that you know if you lose it you will not commit suicide or putting your family and your life at risk.

I don't know why some people don't think whether there is ever going to be a second chance for them before committing any suicide. That's very bad and shouldn't be done. If you're here and you're thinking of the same thing, stop it… that you lost everything doesn't mean that the world is over, that might even be the time you are about to see the biggest blessing ever come into your life.

Always give life as many chance as you can and keep on working hard. And just like the up has said, being greedy is very bad and can lead any trader to being a complete loser. Every trader should also know how to manage risk… that's very important. And stop trying to so hard, if your trade is not going well for that day, just forgetting it and wait for another day.

The worst risk he even took was to have gone into leveraging with such huge amount of fund, he probably feels he can be faster than his shadow. I don’t support margin trade at all, I hate it with passion and I see how many trades that margin trade has really destroyed than the one it has made.

Why would someone in his right sense even put such money in cryptocurrency alone, when he would have just diversified, he could have used half for crypto and maybe any other solid assets that do not have much risk involved in it. Well, we have learned our lessons from his story and I believe that his friends would have learnt theirs too.

The first thing in the morning, the news appeared on my screen and I was like, "What? How?" Not until I've read the full article in this link and I've found out the real reason why he did that.

He actually lost 2,000 bitcoin, super duper big amount of money is involved here. Let's say the price of bitcoin now is $8,000 x 2,000 btc = $16,000,000 with a SHORT ENTRY AND HIGHEST LEVERAGE. He was liquidated because it immediately made a sideway.

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Killing yourself is not a solution, it's just not an option at all.
Let's say there was an investor who trusted the person in question with a large amount, but the person is dead now, so he just spoiled his life along with another one.

The best solution (before you force yourself to do a shit thing) is to not take that much risk which you cannot afford later.
The best solution (after an unexpected incident) is to find a way out to solve the problem, no matter how long it may take - talk with your investors, convince them.

If he is a whale, then it serves him right, I mean losing the money, but he really doesn’t deserve to die, for a guy of suchcaliber, he would have simply just run to his friend to raise him to some extent why he picks up his pieces back together and learn from his lesson.

He didn’t make the mistake of putting money into Bitcoin has investment, the simple mistake was not to trade with certain percentage and if he has to leverage at all, he would have leverage at a minimal risk that can be controlled as no one can full predict the market  no matter how pro trader such person seems to be.

This is cool!  $16 million worth investment is really a huge money in which i never imagine that this kind of huge figures really exist in Crypto investments. Maybe the guy is also a big whale that this time they made a wrong move to manipulate the Crypto market and lost everything.

Such high risk investment surely leads to high mental pressure. Increase in price may lead to good profit but the same time little decrease in price can lead to high loss. The first rule to any investment is " Only invest the amount which you can afford to lose" taking such high risk is surely not recommended. I do not know truth behind this story but if this is true then its really sad. The person might have luxurious life but high greed made him to take such extreme step. Any investment in any financial market should be done with calculated risk.

The only he find way out is to kill himself. It may sound very uncomfortable but that's how he see it.

Money is not something you should commit suicide over. People who commit suicide is beyond my understanding anyway, if I were to ever commit suicide which I doubt I would ever do, it would probably for a reason far my happiness related and not money related, like if I see my life going bad and not going to be good in anyway or shape and I can't fix it then I may consider it but I have to be homeless on a street corner not knowing what I will eat and can't fix that situation or so, even then I would try to wait and do my best before I even consider it. What could worse happen when you lose 2000 bitcoins?

You lost it because you had it think of it that way, maybe you can't get it all back but since you did it before maybe you can do it again? Hell you don't even need to do it again and you can just continue your life without bitcoin, if it is someone else's money then you may go to jail but eventually you will get out. Jail is a place where you can better yourself if you really focus, like reading more books or working out etc etc.

The first thing in the morning, the news appeared on my screen and I was like, "What? How?" Not until I've read the full article in this link and I've found out the real reason why he did that.

He actually lost 2,000 bitcoin, super duper big amount of money is involved here. Let's say the price of bitcoin now is $8,000 x 2,000 btc = $16,000,000 with a SHORT ENTRY AND HIGHEST LEVERAGE. He was liquidated because it immediately made a sideway.

Yi is a co-founder and CEO of market analysis crypto playform BTE. Well, I was not familiar with their company. His ex-partner revealed Yi's dead on June 5 which made some rumors that it is just an exit scam and fake his death to escape from his clients. We don't really know the truth behind it.

This is indeed a lesson for all crypto traders around the world. We just can't put an entry if we can't afford to lose. Yes, it is a huge amount. But that was just a money. I mean., we can not just die because of it. Life is beautiful and we have family and friends. The main reason we are living. We can just earn money, we can earn that $16,000,000 for lifetime. Lol.

But personally speaking, please crypto trader. I know we sometimes make an entry without thinking. But we can actually:

• Set STOP LOSS
• Enter SMALL LEVERAGE like 5x-10x only. UNDERSTAND how leveraged really works.
• DO NOT BE GREEDY
• Think of your family before you BET ALL in your capital
• Even the best TECHNICAL ANALYSIS will be useless when whales or the market is not in your side

Crypto Traders. I am very disappointed and was disturbed with the news. Big part of me was devastated. Please be careful on our entry, my fellow margin traders.