How a position in PEPE swallowed Million dollars
There is an X handle named cryptonerd75. He has posted a tweet that states how he has lost a million on his PEPE and he is thinking about put an end to his life.
What are the lessons? If you're taking a leveraged position make sure you don't keep entire margins in perps. Keep the leveraged margins in perps and take few margins to spot so that a liquidation event won't trigger your funds in spot. Let's say you've $100,000. You take 10x leverage of $1M. When time passes by and if you're still in the position make sure that you readjust the leverage in Binance (that nerd75 guy said to be trading in Binance ) and transfer your remaining amount to spot. let's say you take 20x from 10x and transfer $50,000 to spot. By doing this you save atleast 50% of your funds. Secondly always always learn to respect markets and always put Stop Loss in your trade so that you won't get wiped out. Atleast when you're going for a sleep learn to put Stop Loss. I'm damn sure none of the traders would follow risk management from experienced traders. Bcoz of that , I've given pragmatic suggestions of SL while sleeping and moving money to spot by adjusting leverage for the traders. Hope you'd atleast follow these pragmatic things in your trading and won't end up losing a million . Good Luck !
