#TradingMistakes101
James Wynn, the famous cryptocurrency trader, experienced sharp fluctuations on the Hyperliquid platform, where he turned $3 million into $100 million before losing it all within a week. He attributed his downfall to greed and public pressure, stating that his trades became emotional and reckless. Despite this massive 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 leveraged bets*: Wynn took on massive and highly leveraged positions in Bitcoin (BTC), PEPE memecoins, and other tokens, attracting the attention of cryptocurrency enthusiasts worldwide.
- *Collapse*: A massive $1.25 billion bet on Bitcoin collapsed as prices fell below $105,000 amid rising geopolitical tensions, leading to a loss of over $37 million including fees.
- *Liquidation*: Wynn's positions were liquidated for $16.14 million after the price of Bitcoin dropped below the liquidation threshold, resulting in a loss of 379 Bitcoin on the Hyperliquid platform using 40x leverage.$BNB
