trading based solely on FOMO and news will only drive us crazy. Before trading, of course you have to know the basic imu of trading first and know the risks. If something like this happens that cost him his own life, that is not good and very unfortunate.
Leveraged trading is also very risky, if it is liquidated it will lose everything. Don't use money that you really need anymore.
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.
We must be responsible for our own choices.
Topic: Trader took his own life after the recent huge dump - page 5. (Read 889 times)
I've read it with sadness. I think I've read a handful of stories like this that they've taken their own lives related to the crypto market.
That's why I know I can't handle the losses if I'll go leverage and that's the reason why I'm sticking to the spot market which is easy to adjust and for which, I can bear the losses.
Sorry for the loss of his family.
That's why I know I can't handle the losses if I'll go leverage and that's the reason why I'm sticking to the spot market which is easy to adjust and for which, I can bear the losses.
Sorry for the loss of his family.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
This is really sad and hard to believe, but no matter how unbelievable this sounds or looks, the fact remains that things like this happen almost on daily basis around the world, I feel really sad right now for guy who took he's own life, thats the worst thing that can happen to any human being, suicide should never be considered no matter how bad the situation is, talking to people around you or family members, even friends can heal any wound no matter how deep.
Last year in my country, a professional doctor was driving over a very long bridge of a big river, all of sudden, he packed his car, got out, walk over and jumped over into into the river, when people discovered, a rescue team was sent to go in search of the doctor but before they found him, he was already dead, no body anywhere, not even in his office/hospital knew anything as to what could possibly be the reason why the doctor took he's own life.
No matter the problem, talk to people, suicide is not the best option and it's never a solution to any problem.
Last year in my country, a professional doctor was driving over a very long bridge of a big river, all of sudden, he packed his car, got out, walk over and jumped over into into the river, when people discovered, a rescue team was sent to go in search of the doctor but before they found him, he was already dead, no body anywhere, not even in his office/hospital knew anything as to what could possibly be the reason why the doctor took he's own life.
No matter the problem, talk to people, suicide is not the best option and it's never a solution to any problem.
Feel sorry and sad for his loved one that he had left on.This is a sad story on someone who havent able to control up his emotions and i know that it isnt really that much
simple to take when your life savings was risked on a particular trade but it isnt really just right for someone to consider on putting all of his finances on a single trade.
You wouldnt know on whats coming and this is one of the probabilities since this market is way too unpredictable.Set always some risk management plans whenever
your plan A would fail then theres always should be some Plan B's so that you wont really be put up into a situation as you dont have any choice left for you to take.
simple to take when your life savings was risked on a particular trade but it isnt really just right for someone to consider on putting all of his finances on a single trade.
You wouldnt know on whats coming and this is one of the probabilities since this market is way too unpredictable.Set always some risk management plans whenever
your plan A would fail then theres always should be some Plan B's so that you wont really be put up into a situation as you dont have any choice left for you to take.
Feel sorry for him. I seen some posts about people's losses when last dump in social media. People should be aware for capital, because sometimes they get beginner's luck and then all in with all of their assets because they already think they can get big profit in trading, that is totally a mistake. Trading is something complicated like we should learn it and master it in both analysis and emotion so not ended with bad things.
Very sad! Always think that no matter how much you will lose in trading, it's just a money and you can get it back but our life is only one and we can't take it back if we lose it. Be a responsible trader no matter what the market bring to us or whatever will happen to our assets. Always be a risk taker in terms of trading and investing but never risk your life for this.
This is a grave story, that is why risk management is really important, we should do trading with enough knowledge and we use money that we can afford to lose. Those people who lose all their portfolios are those who don't have control while trading. Money is important but your life is much worth it than money, you can still work and earn that money but your life once it gone you don't have any chance to back it again. It is a mixed emotion that lets him took his own life.
Damn this is a grave news. People should really take cautious when dealing with leverage trading. Mind those who have fainted hearts to avoid trading style like this. You let the emotions take in and once a user can't take the result definitely will result to something like this. Money is so hard to earn and probably the victim can't take it that his long time saving is already gone just like that. I'm very sorry to the one who've posted this on reddit I'm sure yohlu can't accept the reality of what happened.
Man, this is sad. Everything is good and happy when the market is green but when the tables turn people can have severe reactions. I'm not saying it isn't stressful seeing the market dumps but for Christ sake, life can be lived even without being in the market. I feel for people and their families who fall for this insanity. I hope this gives people a better perspective on things, on life.
This unfortunately happens a lot in bear markets or price crashes like this. Truth be told for the readers — while money is definitely important, money isn't everything. Money that was lost can be made back in the future whereas on the other hand, you only have one chance at life. Be careful with making impulsive decisions.
Corrections and crashes can happen in both bull and bear market. Margin traders if choose high leverages, will be liquidated and bull or bear market does not make sense for such traders.I never advise newbies to use leverages for trading. Because they do neither understand how risky crypto market is nor how their margin position will be liquidated.
If they are newbies, let's get started with hodl that can give them open positions for as long as they want. No risk of liquidation and they will have many opportunities to take profit. Miss one, go ahead with another.
Trading isn't a healthy environment to take place, many had ended their life because of failures.
And everyone should think that suicide is not a solution to any problem we have but this will only escalate the problems and getting worse. And now he is gone forever and those who had to hear this news, it is a need for us to talk to anyone if we have some problem, it is better to express what we feel not in a way to take our life but to share it to someone who we think that could help and could understand our situation.
And everyone should think that suicide is not a solution to any problem we have but this will only escalate the problems and getting worse. And now he is gone forever and those who had to hear this news, it is a need for us to talk to anyone if we have some problem, it is better to express what we feel not in a way to take our life but to share it to someone who we think that could help and could understand our situation.
His friend took a risk and it didn't pay off. I wished that he didn't kill himself, but I guess the devastation of his life savings being wiped was really a lot of burden to his mental health.
What hits harder is that it is in the middle of the pandemic, and I felt how his friend felt.
I feel sorry for the OP and his friends' family.
From this post, aside from leverage trading, don't risk your money into crypto if you don't have a stable occupation/job.
What hits harder is that it is in the middle of the pandemic, and I felt how his friend felt.
I feel sorry for the OP and his friends' family.
From this post, aside from leverage trading, don't risk your money into crypto if you don't have a stable occupation/job.
Such news will be for the people who got acquainted with the digital currencies after the Greek mask talk about them and then they bought at the tops in the hope that the price would rise and when the opposite happened they sold and exit the market.
I don't know what people think when they want to invest in a currency that has appreciated by 1000% and they want it to rise again.
The error in the way of thinking, the panic, and the lack of accurate analysis of the market, the current loss is not huge and maybe 50% of the money so there is no need to cry, but they have to wait.
leverage trading is scam
I don't know what people think when they want to invest in a currency that has appreciated by 1000% and they want it to rise again.
The error in the way of thinking, the panic, and the lack of accurate analysis of the market, the current loss is not huge and maybe 50% of the money so there is no need to cry, but they have to wait.
leverage trading is scam
<...>
Do not go into leverage trading when you haven't had experience in it, the victim must surely be a newbie in trading and maybe might have not experience dip in price before, this is clearly a lesson to others that come across this thread. We kept on saying this statement everyday "Invest in the amount you can afford to loose" but some people think it's just a saying. Investing with all your savings is a very risky mindset and not appropriate at all, a good entrepreneur is an average risk taker, learn that and breath fine in your trading career. 
For every one got to have some worst experience, talking with someone will help.
There are a lot of hotlines that can help those people who are in the dark.
Below website may help you, list of hotlines or helpline online. I hope these will help.
https://suicidepreventionlifeline.org/chat/ - US Only, online chat helpline
https://findahelpline.com/i/iasp - Outside US helpline
http://www.suicide.org/index.html - Suicide prevention site, hotlines, email, chat helplines, etc.
https://www.opencounseling.com/suicide-hotlines - List of hotlines for every country.
There are a lot of hotlines that can help those people who are in the dark.
Below website may help you, list of hotlines or helpline online. I hope these will help.
https://suicidepreventionlifeline.org/chat/ - US Only, online chat helpline
https://findahelpline.com/i/iasp - Outside US helpline
http://www.suicide.org/index.html - Suicide prevention site, hotlines, email, chat helplines, etc.
https://www.opencounseling.com/suicide-hotlines - List of hotlines for every country.
He was broke and desperate, He takes all the pressure but too unfortunate that he can't manage it all. But damn, it is a stupid decision.
If we have some problems it is very important to share them with any of our family members or with our friends. We need some advice, it sometimes could heal what we feel, and gives us comfort, if he is doing this earlier, he couldn't think about this for sure. And most important is to keep our mind healthy at all, minimize stress, and always positive. Everyone shouldn't just have to ignore this.
RIP
Sad to hear out these kind of stories where someone doesnt able to handle out their emotions and ending up on having this kind of way on resolving things on taking his own life.If we have some problems it is very important to share them with any of our family members or with our friends. We need some advice, it sometimes could heal what we feel, and gives us comfort, if he is doing this earlier, he couldn't think about this for sure. And most important is to keep our mind healthy at all, minimize stress, and always positive. Everyone shouldn't just have to ignore this.
RIP
For sure when we are on the situation on where we had bet out everything in terms of finances and get lost of those funds then we would really be having a hard time on how we could solve things up.
We dont know on where to start and how to get up on our feet but these things wont happen if you do had just realized that you shouldnt risk all in all because tendency
of this situation to happen would really be next in line.
He was broke and desperate, He takes all the pressure but too unfortunate that he can't manage it all. But damn, it is a stupid decision.
If we have some problems it is very important to share them with any of our family members or with our friends. We need some advice, it sometimes could heal what we feel, and gives us comfort, if he is doing this earlier, he couldn't think about this for sure. And most important is to keep our mind healthy at all, minimize stress, and always positive. Everyone shouldn't just have to ignore this.
RIP
If we have some problems it is very important to share them with any of our family members or with our friends. We need some advice, it sometimes could heal what we feel, and gives us comfort, if he is doing this earlier, he couldn't think about this for sure. And most important is to keep our mind healthy at all, minimize stress, and always positive. Everyone shouldn't just have to ignore this.
RIP
really sad to see traders do things like that, why do you have to act like that?
very unfortunate, this is the importance we have to have knowledge about trading, don't just trade based on FUD and FOMO,
because the market can be dumped and pumped, its okay if you play on the spot, but in futures trading it will really get you die
very unfortunate, this is the importance we have to have knowledge about trading, don't just trade based on FUD and FOMO,
because the market can be dumped and pumped, its okay if you play on the spot, but in futures trading it will really get you die
People shouldnt really be ending up on a suicide if they do lost up money but honestly this is a hard thing to say when you are in the situation because imagining that your entire life
savings was on the line and suddenly get liquidated then you would really be going into that point.This is why its important that we shouldnt go all in with cryptocurrency investment.
Its way too risk and always invest on the amount that you can only afford to lose because in case you got liquidated then you wont really be hurt that much where it comes to a
point on where you do decide or end up having the thoughts on taking your own life which it isnt really worth at all.
savings was on the line and suddenly get liquidated then you would really be going into that point.This is why its important that we shouldnt go all in with cryptocurrency investment.
Its way too risk and always invest on the amount that you can only afford to lose because in case you got liquidated then you wont really be hurt that much where it comes to a
point on where you do decide or end up having the thoughts on taking your own life which it isnt really worth at all.
How many people would be doing this kind of action everytime they fail?
People really trying to make some profit by risking everything even though it's said that cryptocurrency has a higher risk of losing your money due to its volatility. And suddenly someone ended their own life after that correction which is somehow connected to Elon Musk's tweet.
This kind of risk in trading is unbelievable, risking your money and life just like that after losing everything. How can someone would learn if they would just head dive to the market just because it's hyped or bullish run? Take time to learn and getting rich quick is not happening in trading.
People really trying to make some profit by risking everything even though it's said that cryptocurrency has a higher risk of losing your money due to its volatility. And suddenly someone ended their own life after that correction which is somehow connected to Elon Musk's tweet.
This kind of risk in trading is unbelievable, risking your money and life just like that after losing everything. How can someone would learn if they would just head dive to the market just because it's hyped or bullish run? Take time to learn and getting rich quick is not happening in trading.
This is really sad and unfortunate event.
This is a reminder for all crypto traders that they need to assess themselves if they are truly ready in this market.
The roller coaster ride in this market can really take a toll on someone's mental health.
And if you are playing with money that is not yours, that's another problem.
If you know someone who is in the verge of breaking out, lend your time as it may help him see things clearly.
How many people would be doing this kind of action everytime they fail?
People really trying to make some profit by risking everything even though it's said that cryptocurrency has a higher risk of losing your money due to its volatility. And suddenly someone ended their own life after that correction which is somehow connected to Elon Musk's tweet.
This kind of risk in trading is unbelievable, risking your money and life just like that after losing everything. How can someone would learn if they would just head dive to the market just because it's hyped or bullish run? Take time to learn and getting rich quick is not happening in trading.
People really trying to make some profit by risking everything even though it's said that cryptocurrency has a higher risk of losing your money due to its volatility. And suddenly someone ended their own life after that correction which is somehow connected to Elon Musk's tweet.
This kind of risk in trading is unbelievable, risking your money and life just like that after losing everything. How can someone would learn if they would just head dive to the market just because it's hyped or bullish run? Take time to learn and getting rich quick is not happening in trading.
Jump to: