"James Wynn", a reckless futures trader with a capital of 1 billion dollars.
Earned over $100 million
And yesterday he lost it
Due to 7 mistakes.
Here are 7 things to avoid so you don't end up like James 🧵👇
■ James #JamesWynn
From trading legend to complete liquidation in just a few days
His professionalism was never there
- $0.00 -> $100,000,000+
◇ He made $100 million but this time he made some minor mistakes
Here is the timeline of his legendary trades
The truth is - making money is easier than keeping it
James made some obvious mistakes by outlining 7 mistakes that will help you avoid the same fate and the same errors
The wise learn from the mistakes of others
1- Start with a small capital
There are many manipulators and market makers who prey on manipulators who are fishing for such risky plays
The market is still manipulated and James Wynn learned
Similarly, his trading was exposed and whales are trying to liquidate him by any means necessary
■ Don't rush into making decisions
◇ When trying to grow capital - stick to the right path
- Earning money slowly
- Protecting capital while trading
◇ Most people do the exact opposite and this leads to their downfall
● Don't get greedy
● When you win big, euphoria takes over and you start believing the pump will never stop
● It doesn't always happen
Calm down and take notes from others' mistakes
Never use leverage
■ Leverage is not for risking capital - but for capital efficiency and reduction
◇ It is clear that @JamesWynnReal used it to increase gains and it backfired
■ Do not chase high coins
● The noisy market tempts you to chase highs, James was targeting $118,000
● This market has changed a lot and volatility is the new normal
● Sentiment fluctuates daily and you must adapt to stay in the game
◇ Learn risk management and build a strategy for yourself to keep you away from risks
