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.
There are some legitimate doubts as to whether these trades are even real. If they are not real, they are using it as shady marketing stunt as such manipulative practices should not be allowed. If they are real, he is one of the most stupid people to have joined crypto ever. He had won the game, all he had to do was to stop going online and live his life. Instead, he ruined everything. What is worse, these kind of big gains being publicized are manipulating other people into believing that they can also be the lucky winner. A lot of people are using leverage which is very dangerous, and they have very high targets. They always lose money.
People who set targets for themselves in my opinion end up failing because gambling isn't something that has a sure outcome, setting a target means that you are sure of getting the profit from it. Nothing is guaranteed, this is the reason why I always hope to get lucky no matter how long I spend doing my analysis. One thing that most gamblers and bettors need to know is there are certain things that can change the outcome of our predictions
Setting targets in anything is not related to being sure about something, so what you wrote is very wrong. It is about what you want to achieve.
Limitation would be always the thing or something that you do need up to consider on no matter what are the things that you've been dealing into. Its always been that recommended that you should be thinking up realistically into the things that you are trying out to get engage into whether on gambling or trading on which you should be wary. On the time that you had made out some serious amount then just simply stop and cherish out those wins accordingly and not to aim for more. Now that we are pertaining about gambling then its always been that crucial that you should know on what are your limits. Stop when you are making profits and buy up something tangible then dont pursue out even more in speaking about trying to get more profits as much as possible.