It was yesterday on X i knew that people truly have plenty of money to waste on this space, imagine losing $100 Million on $BTC future just in a week, the more he tried to back his trade by longing it on cross the more it went down. He lost everything and started telling people to donate to him in order to fight the market back.
In all of these i learn not to fight market back no matter what!
I followed the news about this trade a bit right from the day he did place the trade, James Wayne lost such amount of money Because of his greed, In fact why would you in the first place an 40x leverage trade knowing fully well the amount of liquidity that you have, even 5x-10x leverage you are good if you want to be that greedy, forgetting that those exchanges or some certain group of whales will saw this as opportunity and short against you, since he got liquidated from his position, the market has continued moving back upwards.
Funny enough, his now begging people to contribute money to enable him fight back ,
I thought he had enough money to throw around why is he now seeking help, was there anyone there when he took that decision? This is revenge trading which is the psychology behind trading, and I bet if he uses this method again he will still get wrecked the more, never chase your loses.