I've been following this trader for quite some time.
With awe I must say.
He or she was extremely risk averse, they kept their positions small and low leverage. From 98k -> 120k -> 150k -> 9 Million in small steps, small sizes, proportional to their accounts.
Then they lost a bit and went higher leverage, full account balance.
Currently they are 40x 400 BTC Short, -1.5 Million with Liquidation at 74k.
The initial positin they opened was 700+ BTC Short, but they're starting to close at a loss now to keep liquidation away.
It's pretty crazy, I hope they walk away or make it out. More walk away because I want Bitcoin to pump to the moon obviously 🙂
https://i.redd.it/cf7kdle2epmg1.png
17 Comments
Up $2.2m after 6 months?
Hell yeah
7M loss is pain, but he’s still up 2100%. If I were him I’d take half, dump a milli into SPY, then keep gambling
How is it risk averse and small steps to go 98k -> 120k -> 150k -> 9 Million in 6 months?
You got to know when to hold’em know when to fold’em
Dumb ass should not short big when greed fear is under 25. Nor should you long when over 85
Profit is profit in a gamblers mind
“Extremely risk averse” yeah ok 🤣
Extremely risk averse is hilarious.
Are you seeing what trades they are putting on? What’s the strategy been thus far?
I don’t know why but it always bothers be when people use “long” as a verb in trading.
Short can both be an adjective and a verb, as short is specific to a short sale, where “sell, sold” implies closing a long position. “Shorted” is a totally reasonable way to say you initiated a short position.
However, “buy” or “bought” is the verb for going long. long is the adjective to describe the position.
“Longing” or “longed” is for country songs, or reminiscing about portfolio values of days gone by
I’ll see myself out now
Damnnnñn
Yeah once you reach millions, then taking some of the out to buy spot should be mandatory in most peoples mind. I suppose if they made it through leverage, then it becomes very hard to ever get out of the game. Maybe he makes it all back but not sure how common that is to do.
What a freaking idiot.
It’s an advertisement for his site guys, that’s it. No 100k to 9m.
If I had 9 Million I wouldn’t be on reddit. Most certainly not still gambling. I would be kicked back not worrying about money anymore.
If I had 9 million dollers, I would never do another trade in my life.
Defi is wild.
Could even be the original person worked up the account and sold it to a gambling degen for a quick and easy payday. That’s what I got from this story, after application of occams razor, anyway.