The Overconfidence Trap 🪤

In 2008, a trader named Jérôme Kerviel, working for Société Générale, took enormous risks in the market without the necessary oversight. Convinced of his own infallibility and fueled by overconfidence, he made massive trades that went against the bank’s strategies.

Despite warnings and red flags, Kerviel continued his risky bets, believing he could outmaneuver any market fluctuations. Eventually, his trades went horribly wrong, leading to a loss of €4.9 billion for Société Générale.

The lesson from Kerviel's story is clear: overconfidence and ignoring risk management can lead to catastrophic losses. No matter how skilled you are, always adhere to risk controls and remain humble about your limits.

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