Quote from: dwyane36 on June 01, 2025, 04:07:42 AM

Quote from: kawetsriyanto on May 31, 2025, 11:15:25 PM

Quote from: Crypto Library on May 30, 2025, 03:36:26 PM

We all know that nothing good can ever come from greed, and similarly, when we expect an unrealistic amount while gambling, we are more likely to lose, because very few people win an unrealistic amount by gambling.

Yep. If we do it with unrealistic amount, we must expect more for the wins. This is very untrue because this only leads to the severe losses. That's why a gambler needs to understand well the nature of gambling and he/she must have good mentality before starting to play gambling games. If we do this, we won't gamble excessively and won't dream to win unrealistic amount of money.

I think that many people have recently heard about James Wynn and how he first boosted his deposit from $3-4mln to $100mln with the help of x40 leveraged futures, then squandered all the unrealized profit and even went into a minus. In fact, futures with such leverage are the same as gambling. In my opinion, his case is a clear example that greed, haste, and unrealistic goals don't lead to anything good.

By the way, he started opened long on BTC again and again after he made this price of BTC went down and he is close to the liquidation again.
It is not very clear what goals James Wynn is pursuing, but his attempts to outplay the market will not lead to anything good, Livermore wrote that you can win for a while, but you can not be right all the time and you need to know when to stop.
I have used futures in trading several times and opened a position when the market was falling and as it seemed to me I found my “bottom”, but then the market fell again and my positions were closed.
Now I trade only spot and no futures, even if I want to get a lot of money quickly.