Cryptotraider James Winn, known for his millionth profit on memcoids, lost $ 100 million due to aggressive transactions with the use of credit shoulder.
On the social network, he wrote that he began to trade unlimited futures in March, despite the lack of experience with derivatives.
This inexperience did not stop him, at least at first. Within a month, as Winn said, with the help of a series of transactions with a high credit shoulder, he turned a position of $ 3 million into $ 100 million.
His success attracted other participants in the crypto industry, and the number of its subscribers on social networks increased sharply. Some even tortured to copy his strategy. However, getting into the center of attention exerted a large pressure on Winn.
In mid -May, Winn opened a long position on Bitcoin by $ 1.25 billion, making a large rate at an average entrance price of $ 108,243. Her credit shoulder up to 40x did not leave a place for error.
Another round of tariff wars dropped the price of bitcoin, which is why Winn, according to him, had to hastily close his position and to suffer losses.
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Source: Cryptocurrency
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