More money more problems?

H

Hustlebuddy

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I'm not even sure what ti make of the recent James Wynn development, somehow I feel bad for him because losing that much is definitely gonna take it's toll, but then again it's almost difficult to feel sympathy especially because of the approach he took.

Like they always say, more money doesn't make you a better trader.
 
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more money doesn’t necessarily make someone a better trader it often amplifies both wins and losses
his case is one of the most iconic cases in recent years, maybe apart from the guy that purchased pizza with btc
 
play dumb games win dumb prizes no matter how much bank roll u got never go all in I guess
 
More capital just amplifies your habits, good or bad. If you're not grounded in solid risk management, no amount of money can protect you from yourself.
 
The amount of money is not important, what matters is your ability to take good action against risk.
 
What happened to him? Did I miss something?!
In this crazy world, moving at breakneck speeds, it's simply impossible to keep up with everything((
 
WAndreas said:
What happened to him? Did I miss something?!
In this crazy world, moving at breakneck speeds, it's simply impossible to keep up with everything((
Click to expand...
Nothing. Same old story.

Probably about a guy who leveraged 40x on bitcoin, kept winning, kept increasing his position, had over $80M+ gains but didn't cash out/take some profits and kept going and bam... when recently bitcoin pulled back, he got wiped out.

It's never too early to take partial profit, no matter the market condition or your winning streak. Your number one strategy should always be to not lose your capital at least.
 
10zen said:
Nothing. Same old story.
Click to expand...
Oh, my goodness! You work in the same office as me?!
Indeed, nothing changes. He did not even understand the basics of investing. However, it is often those who are unfamiliar with the subject who are successful. But not in his case...
 
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