The Tortoise and the Hare, this once-famous trader on the Binance platform relentlessly shorted, causing losses to exceed 3 million dollars, which is quite shocking.
Two months ago, he was at his peak, with the number of followers reaching the maximum limit of 1,000 and managing a fund size exceeding 10 million dollars, ranking first in terms of fund amount. There’s a strange thing: despite such severe losses, the number of followers still remains at the full limit of 500.
The Tortoise and the Hare prefer to short in trading, which is not inherently wrong. In the market, some people go long while others go short; focusing on one direction is theoretically feasible since prices often fall, even if the overall trend is upward, there are still occasions of decline. However, I found a fatal flaw in him — he likes to hold positions.
Although he has successfully turned losses into profits a few times while holding positions, we must understand a principle: holding positions often leads to liquidation and total loss. I am not here to kick someone when they’re down, I just feel this serves as a profound warning for us.
A very simple principle: 1 becomes 2, 2 becomes 4, 4 becomes 8, 8 becomes 16; as long as you hold positions, no matter how it changes, it only takes once to go to zero.
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