#TradingMistakes101
James Wen, a prominent cryptocurrency trader, experienced dramatic fluctuations on the Hyperliquid platform, turning $3 million into $100 million before losing it all within a week.
He attributed his downfall to greed and public pressure, stating that his trading had become emotional and reckless.
Despite this massive loss, Wen continues to promote exchanges and meme coins.ยน *Key Events Leading to the Liquidation*:* - *Initial Profit*: Wen's account had risen to $100 million, and unrealized profits reached $85 million at one point.
- *Highly Leveraged Bets*: Wen took massive, highly leveraged positions in Bitcoin (BTC), PEPE memecoins, and other tokens, capturing the attention of crypto enthusiasts around the world
-*Collapse*: A massive $1.25 billion bet on Bitcoin collapsed as the price fell below $105,000 amid escalating geopolitical tensions, resulting in a loss of more than $37 million including fees.
- *Liquidation*: Wynn's positions were liquidated for $16.14 million after the price of Bitcoin fell below the liquidation threshold, with 379 BTC lost on the HyperLiquid platform using 40x leverage.