#TradingMistakes101

James Wynn, the famous cryptocurrency trader, experienced severe 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, noting that his trades became emotional and reckless. Despite this heavy loss, Wynn continues to promote trading platforms and meme coins.¹

*Key events that led to the liquidation:*

- *Initial profit*: Wynn's account rose to $100 million, with unrealized profits reaching $85 million at one point.

- *High leverage bets*: Wynn took on massive and highly leveraged positions in Bitcoin (BTC), PEPE memecoins, and other tokens, drawing the attention of cryptocurrency enthusiasts worldwide.

- *Collapse*: A massive $1.25 billion bet on Bitcoin collapsed as prices fell below $105,000 amidst rising geopolitical tensions, resulting in a loss of over $37 million including fees.

- *Liquidation*: Wynn's positions were liquidated for $16.14 million after the price of Bitcoin fell below the liquidation threshold, resulting in a loss of 379 Bitcoin on the HyperLiquid platform using 40x leverage.