Topic: Trader took his own life after the recent huge dump - page 2. (Read 874 times)
In 2018 I lost alot of money because the market dumped, because I traded on spot market, so I decided to holding my all coins. While waiting for that, I did another job, then now I get it back all my money including the profit. So I suggestion for beginner trader, dont trade by use leverage and margin because that very dangerous, and there are no possibility to get back the money.
Sad, he had lost a good friend. No words to console him. Myself have took decision to end my life after losing all my savings on gambling. This is the first time I'm coming across a person who've ended his life losing through trading. It is the mind that decides at the instant, if we cross that moment we'll not do this. Myself came out of such a decision after, because I shared my loss on the forum and everyone had the same thought. Life is precious, money can be earned.
This is a actually sad to hear that trading cost your life in real sense.This is the case when we lost more than we afford to loose as more than $9 billion got liquidated on leverage trading in past few days which caused market traders a heavy loss of funds but in this case it cause a loss to family members also which fills my heart with sorrow. Don't be so emotionally attached to the market loos as it can make you weak heart person which sometimes is dangerous as in this case.Your life is most important gift of god don't waste it or let market loss overwhelm you.
Definitely true, our life is most important that we have in ourselves rather than those millions of earnings. And I couldn't judge this person too who took his own life after the recent huge dump because i don't know also what he has been going through in life. This is such a rare case scenario and I hope that whoever experienced this kind of losses today due to recent market crashed may you be still strong and not be so emotional attached about it. You can find a way to get up from this.
This is a actually sad to hear that trading cost your life in real sense.This is the case when we lost more than we afford to loose as more than $9 billion got liquidated on leverage trading in past few days which caused market traders a heavy loss of funds but in this case it cause a loss to family members also which fills my heart with sorrow. Don't be so emotionally attached to the market loos as it can make you weak heart person which sometimes is dangerous as in this case.Your life is most important gift of god don't waste it or let market loss overwhelm you.
^ It possible he is not aware of the negative circumstance ahead, he always thinks about the possible profit that could be made and did not prepare for the negative outcomes which are we can expect from trading. Trading activity is not just an easy job, there are too many aspects that you probably encounter. So if you are being such an emotional person, it is better you watch it out before things will happen. Or else, try to control yourself as much as possible and not to turn to this decision. Sad thing but he is just a coward and becomes a foolish one. 
This is a actually sad to hear that trading cost your life in real sense.This is the case when we lost more than we afford to loose as more than $9 billion got liquidated on leverage trading in past few days which caused market traders a heavy loss of funds but in this case it cause a loss to family members also which fills my heart with sorrow. Don't be so emotionally attached to the market loos as it can make you weak heart person which sometimes is dangerous as in this case.Your life is most important gift of god don't waste it or let market loss overwhelm you.
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This is quite surprising news and I am sure there are many cases like this that occur but are not too exposed...Trading is not an easy thing, to be able to successfully pass every obstacle when trading, besides needing skill, you also need self-control. for other traders remember that money can be sought but your life will not be.
We get to see stuff like this from losers who think life is a bed of roses and wouldn't want to take loss at any time. Commonsense should tell anyone that even among roses there are torns. Come to think of it, why don't we have people committing suicide during bull rally? You know why? It's simply because people like to win always. That's a wrong mindset.
Come to think of it, there's always that caveat of trading being highly speculative and that people stand to lose their capital in it. Sadly, those who go into trading tend to overlook all that warning and think that trading is a shortcut to getting rich. It's not. Life doesn't work that way. And to anyone who takes their own life because of failure or hardship, I don't have any sympathy for you. Sorry about my stand (if it offends you) but that's the way I see it.
Come to think of it, there's always that caveat of trading being highly speculative and that people stand to lose their capital in it. Sadly, those who go into trading tend to overlook all that warning and think that trading is a shortcut to getting rich. It's not. Life doesn't work that way. And to anyone who takes their own life because of failure or hardship, I don't have any sympathy for you. Sorry about my stand (if it offends you) but that's the way I see it.
Oh really sad news for a crypto trader this usually happens when you enter a position and the market doesn't give a confirmed movement its really risky especially if you use your whole life savings yes it can give a huge return once your entry is correct but un fortunately this does not happen mostly so be very careful in leverage trading.
That's an understatement, this doesn't "usually" happen, how many times have you seen this kind of thing happen to constitute as usual occurrence? I think that the person who died know the risk and he was just so sure that it will go down the right place so he bet on futures but he was lost. 
I would be utterly broken too if this ever happens to me. This is also the main reason why I don’t go balls deep on things I know I haven’t mastered yet and not enough experience and knowledge to guide me. Not that I’m scared to try but the consequences might be too great for me to bear. Perhaps the dude is also in debt from other people in order to fund his trading ventures, and seeing the correction wipe his trading money in an instant, it’s truly devastating.
RIP to this guy if ever this is true.
Doing leverage trading is pretty risky by itself and being liquidated means your rekt. I think the trader didn't do or don't apply any risk management and liquidated right after the dump, Imagine how a stop loss could help the trader save his life, some funds and to get out on a minimal loss. Well, there's a possibility that the money was from a loan and we can't blame how he feels after losing that much instantly. We could just hope that those who read this story always remember to do risk management and apply a simple stop loss on leverage trading or even on spot. RIP to this guy if ever this is true.
without minding out on the risk that could really happen once they do decide to go all in.You would surely regret that you had done such thing and if you dont like to have a miserable life
then its better to be mindful towards your actions and dont just easily get hooked with big easy profits because leverage trading is somewhat close to gambling if you do ask me.
because if we don't have knowledge I think it will greatly influence the decision,
What is clear is that we need to keep learning and that will make the opportunity for success very big
Oh really sad news for a crypto trader this usually happens when you enter a position and the market doesn't give a confirmed movement its really risky especially if you use your whole life savings yes it can give a huge return once your entry is correct but un fortunately this does not happen mostly so be very careful in leverage trading.
I would be utterly broken too if this ever happens to me. This is also the main reason why I don’t go balls deep on things I know I haven’t mastered yet and not enough experience and knowledge to guide me. Not that I’m scared to try but the consequences might be too great for me to bear. Perhaps the dude is also in debt from other people in order to fund his trading ventures, and seeing the correction wipe his trading money in an instant, it’s truly devastating.
RIP to this guy if ever this is true.
Doing leverage trading is pretty risky by itself and being liquidated means your rekt. I think the trader didn't do or don't apply any risk management and liquidated right after the dump, Imagine how a stop loss could help the trader save his life, some funds and to get out on a minimal loss. Well, there's a possibility that the money was from a loan and we can't blame how he feels after losing that much instantly. We could just hope that those who read this story always remember to do risk management and apply a simple stop loss on leverage trading or even on spot. RIP to this guy if ever this is true.
without minding out on the risk that could really happen once they do decide to go all in.You would surely regret that you had done such thing and if you dont like to have a miserable life
then its better to be mindful towards your actions and dont just easily get hooked with big easy profits because leverage trading is somewhat close to gambling if you do ask me.
I would be utterly broken too if this ever happens to me. This is also the main reason why I don’t go balls deep on things I know I haven’t mastered yet and not enough experience and knowledge to guide me. Not that I’m scared to try but the consequences might be too great for me to bear. Perhaps the dude is also in debt from other people in order to fund his trading ventures, and seeing the correction wipe his trading money in an instant, it’s truly devastating.
RIP to this guy if ever this is true.
Doing leverage trading is pretty risky by itself and being liquidated means your rekt. I think the trader didn't do or don't apply any risk management and liquidated right after the dump, Imagine how a stop loss could help the trader save his life, some funds and to get out on a minimal loss. Well, there's a possibility that the money was from a loan and we can't blame how he feels after losing that much instantly. We could just hope that those who read this story always remember to do risk management and apply a simple stop loss on leverage trading or even on spot. RIP to this guy if ever this is true.
without minding out on the risk that could really happen once they do decide to go all in.You would surely regret that you had done such thing and if you dont like to have a miserable life
then its better to be mindful towards your actions and dont just easily get hooked with big easy profits because leverage trading is somewhat close to gambling if you do ask me.
As we all saw the recent dump of Bitcoin, which Bitcoin dropped around $30,000 recently.
I saw a very sad Reddit post, I don't know if this is true but this is very important for all the traders out there that we should always trade responsibly.
It's just money everyone, we can make it all back! Never ever do something stupid that will put you at risk of your life with it.
If you guys also having a hard time or lost a lot recently, let's talk about it, feel free to post here or send me a message, I am willing to talk with you
That is very sad. I think the biggest problem is taking out a loan just to start trading with crypto currencies. We should never trade or gamble with money which we can't afford to lose. It is also very sad that he didn't see any other way out of his problems. The biggest loss doesn't justify to take our own life. We might still be able to make up for our losses. And even if we never will be able to repay the damage we have done, we can still try to do so. It is all about remain optimistic in life. Maybe one time we get caught off guard and lose big time, then we need to be more careful in the next few month. We shouldn't keep increasing our risk to make back the loss, because the chances are we will lose more money.
https://www.reddit.com/r/CryptoCurrency/comments/ngk8f6/please_dont_trade_on_leverage_if_you_arent_a/
As we all saw the recent dump of Bitcoin, which Bitcoin dropped around $30,000 recently.
I saw a very sad Reddit post, I don't know if this is true but this is very important for all the traders out there that we should always trade responsibly.
It's just money everyone, we can make it all back! Never ever do something stupid that will put you at risk of your life with it.
If you guys also having a hard time or lost a lot recently, let's talk about it, feel free to post here or send me a message, I am willing to talk with you
It is such a sad story but one that I am sure has happened many times and that is going to keep happening all over the world, this is just another case that should serve as a warning, do not use leverage unless you are an expert trader and even then you need to use a stop loss otherwise the same could happen to you.As we all saw the recent dump of Bitcoin, which Bitcoin dropped around $30,000 recently.
I saw a very sad Reddit post, I don't know if this is true but this is very important for all the traders out there that we should always trade responsibly.
It's just money everyone, we can make it all back! Never ever do something stupid that will put you at risk of your life with it.
If you guys also having a hard time or lost a lot recently, let's talk about it, feel free to post here or send me a message, I am willing to talk with you
If you are invested in bitcoin then you know that your investment is never going to go to zero as bitcoin will always have some value, so if you do not use leverage at worst you will lose some of your capital that can always be recovered as long as you hold your coins, the perfect example of this is what happened during 2017 to those that bought at 19k, even those people as long as they held now have 100% profits despite the current crash, but those that use leverage can be destroyed in a single dip of the market.
I would be utterly broken too if this ever happens to me. This is also the main reason why I don’t go balls deep on things I know I haven’t mastered yet and not enough experience and knowledge to guide me. Not that I’m scared to try but the consequences might be too great for me to bear. Perhaps the dude is also in debt from other people in order to fund his trading ventures, and seeing the correction wipe his trading money in an instant, it’s truly devastating.
RIP to this guy if ever this is true.
Doing leverage trading is pretty risky by itself and being liquidated means your rekt. I think the trader didn't do or don't apply any risk management and liquidated right after the dump, Imagine how a stop loss could help the trader save his life, some funds and to get out on a minimal loss. Well, there's a possibility that the money was from a loan and we can't blame how he feels after losing that much instantly. We could just hope that those who read this story always remember to do risk management and apply a simple stop loss on leverage trading or even on spot. RIP to this guy if ever this is true.
I would be utterly broken too if this ever happens to me. This is also the main reason why I don’t go balls deep on things I know I haven’t mastered yet and not enough experience and knowledge to guide me. Not that I’m scared to try but the consequences might be too great for me to bear. Perhaps the dude is also in debt from other people in order to fund his trading ventures, and seeing the correction wipe his trading money in an instant, it’s truly devastating.
RIP to this guy if ever this is true.
RIP to this guy if ever this is true.
I've seen this to be a regular thing with gambling but for trading, its a lot more strange and a lot more serious to me because, it Goulding happen to anyone. Getting your account wiped is very much a common thing amongst traders that didn't get to do there analysis quite well. Its just so disappointing that the traders too are about taking the ways of the gamblers. So uncool and its not a strange fact that most crypto enthusiast live there savings in cryptos because of the highly volatile nature or coins as they always hope for some gains.
Well, its very important fir traders to be sensitised on hodling and not to trade on a there funds as instances like this do come into play. Lets be guided.
Well, its very important fir traders to be sensitised on hodling and not to trade on a there funds as instances like this do come into play. Lets be guided.
That’s really sorrowful news. However, one can not blame the crypto space but the person who willingly enters into the market. We already know all the risks here, the crypto is volatile and volatile at its best. Such dumps are seriously normal and long term investors have seen worst I guess.
If market is expected to pump 40-100% or may be more then it is also liable to drop vice versa. So investors must understand with what they are playing.
Sorry for the guy and his family who lost him. But the show must go on and he should have known that already.
If market is expected to pump 40-100% or may be more then it is also liable to drop vice versa. So investors must understand with what they are playing.
Sorry for the guy and his family who lost him. But the show must go on and he should have known that already.
this isn't the first time. we've also heard of the previous suicide of a trader before from robinhood. if its sad to hear this happened to a fellow trader, it must be frightening sad for his family.
if there was just someone with him, it could be avoided. starting over for a second time around with small funds still good for me than suicide. theres no hope for that.
I tried to read that article but it has been deleted by Reddit now. I think it might be fake news which is why they deleted it or it might be because it creates negativity. Thanks for sharing screenshot OP.
It baffles me reading about traders leveraging their trades such method of trading is too risky and can rekt or lead to bankruptcy personally I trade with isolated margin x3 it is risky too compared to spot trading but less riskier to isolated margin x10, I always deploy Stop Loss in all my trades this is quite a touching story the fellow used a whole life savings to trade, I read stories of liquidated accounts running into billion dollars during this market crash. I currently only trade spot, when the market is crashing like this and buying at high prices, all that needs to be done is HODL.
That's right and spot trading is actually the best for people with low capital and high patience. If the market has crashed at least you know you have the same amount of coins and just their value has dropped which surely will get back up in the coming time. But if you trade leverage then you will be done once the market dumps.Jump to: