Bitcoin Trader Made Millions Trading on Margin — And Then Lost It All
- Thread starter Chuck Krug
- Start date
yes, that's true.f you were his risk manager he never would have made 5M.
I sometimes get jealous of those ballsy guys, but then I remember that I like to sleep at night.
Sounds like the losses were in 2018, if this story is true & accurate and this is a U.S. citizen they will have a massive capital gains tax to deal with on the gains made in 2017, this could be into the 7 digits.
Making a lot of $ in trading is one thing, keeping it is the hard part.
Bubbles reverse all of the wealth they created and than some, to all but the rare few that cash out.
Making a lot of $ in trading is one thing, keeping it is the hard part.
Bubbles reverse all of the wealth they created and than some, to all but the rare few that cash out.
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Nightmare scenario.... Although he should be able to carry forward his losses
Hmm, I don't know!
A good trader needs to have be his own internal risk department!
either an imbecile, or a troll.
Maybe I'm just too naive, but there is no way I'm making over a million dollars and then losing it all. Common sense, would say put $500k in savings, use the other $500k to make another million.
sometimes, at random, lets face it, there are 1000's of nuts out there, some dick makes a lot of money by accident.
they never keep it.
they never keep it.
Really? There's some easy to verify stories about BTC traders turning small amounts into millions. I mean, 10mn % returns make that sort of thing happen a lot.
