Bitcoin Trader Made Millions Trading on Margin — And Then Lost It All

Discussion in 'Cryptocurrencies' started by Chuck Krug, Jan 24, 2018.

  1. Great temptation to think (hope?) BTC is "going to the moon". Maybe it is, but short-term volatility likely to ruin some who play on leverage.

    If one trades with great leverage, it's sensible to use tight stops. Is that even possible with BTC?
    aldrums likes this.
  2. Guy rode $3k to $5M, I would hire him. Seems like he needs a risk manager though.
  3. NeoTrader


  4. zdreg


    f you were his risk manager he never would have made 5M.:)
    samuel11 likes this.
  5. For what? Trading your money? What makes you think he knows "come here" from "sic 'em"?

    What he SHOULD have done is cash out when worth $Millions.... but no, he had to press his good fortune to go for "Hundreds of $Millions"....

    I have a philosophy about trading and the markets... "Learn to accept good. Going for perfect usually ends up in missing out... or worse". (The market rarely offers "perfect"... and even when it does, the player holding out for perfect usually misses it... looking for even "greater perfect".... and doesn't get it.)
    Last edited: Jan 24, 2018
  6. S2007S


    $3k to millions....I'm not buying this was posted to some forum with zero proof.... anyone can fabricate stories online.......once a nice fairytale to read though....
    Clubber Lang likes this.
  7. Maybe it's not "the story, per se"... more like the concept.
    Clubber Lang likes this.
  8. bone

    bone ET Sponsor

    I'm a bit skeptical but its a heartwarming story of the human condition. Saw the same type of story repeated tens of thousands of times during the dot com bubble of the late 90's. Everybody was a "trader". Then NASDAQ lost 78 % of its value and we all know how that movie ended.
    Chuck Krug and Clubber Lang like this.
  9. Pekelo


    What he needs is to be able to recognize when price goes vertical. That is the time when you sell or at least lighten up a bit.
    #10     Jan 24, 2018