Trading can be lethal - Famous Tik Toker lost $72k in trading

[taufik123]

It's stupid to just trust his friend, and he looks very FOMO, even though at the beginning of the entry he had already lost $10.5k,
and it didn't make him realize that it was not good at all.

Because maybe too greedy want more profits so put more money on shitcoin which is not obvious.
Losing $72k in just an instant is a foolish act, how it can entrust such a lot of money to a coin that has no clarity.

Try trading in Bitcoin or ETH, then it will be a different story if you buy at a crash price and hold it for the long term.

But if he trades Futures and uses high leverage, it will liquidate very easily,
and it is also the stupidest act because he is just a beginner tempted by other people's profits and eventually FOMO.

[IvugeoEvolutionCoin]

It's stupid to just trust his friend, and he looks very FOMO, even though at the beginning of the entry he had already lost $10.5k,
and it didn't make him realize that it was not good at all.

Because maybe too greedy want more profits so put more money on shitcoin which is not obvious.
Losing $72k in just an instant is a foolish act, how it can entrust such a lot of money to a coin that has no clarity.

Try trading in Bitcoin or ETH, then it will be a different story if you buy at a crash price and hold it for the long term.

But if he trades Futures and uses high leverage, it will liquidate very easily,
and it is also the stupidest act because he is just a beginner tempted by other people's profits and eventually FOMO.

That's basic human nature, losing up to $72k for me is a very lot of money,  it would be crazy if that much money was lost in an instant. Maybe your advice to stop getting into shitcoins doesn't convince him enough so your friend thinks to keep trying. hope that the first capital used can be returned again.

[jeraldskie11]

Losing in trading is normal, but it doesn't mean you should keep trading if you lose if most of the time there is something wrong with your trading strategy. If we are consistently losing trades, we should stop trading and go over our trades to see what is wrong so that the next time we trade, we know what to do to reduce losses. We will always experience losses, no matter how great our strategy is, therefore don't overcomplicate trading.

[taufik123]

That's basic human nature, losing up to $72k for me is a very lot of money,  it would be crazy if that much money was lost in an instant. Maybe your advice to stop getting into shitcoins doesn't convince him enough so your friend thinks to keep trying. hope that the first capital used can be returned again.

Continuing to enter blindly into shitcoin will not return its capital, it will only give even more losses.

It's not that I don't like shitcoins, but be careful it's necessary because shitcoin or memecoin it has great risks.
$72k is still a small amount of money when compared to the losses of many Whales to the tune of millions of dollars, even often happens these days.

If I would, probably only put $100-$1000 for Shitcoin or memecoin which is pretty good, that alone would be a tremendous profit if it goes up at a price of 50x-100x and has to get out as soon as possible because memecoin is not to be held long term.

[EthereumDev_]

Continuing to enter blindly into shitcoin will not return its capital, it will only give even more losses.

It's not that I don't like shitcoins, but be careful it's necessary because shitcoin or memecoin it has great risks.
$72k is still a small amount of money when compared to the losses of many Whales to the tune of millions of dollars, even often happens these days.

If I would, probably only put $100-$1000 for Shitcoin or memecoin which is pretty good, that alone would be a tremendous profit if it goes up at a price of 50x-100x and has to get out as soon as possible because memecoin is not to be held long term.

Exactly, that's the danger of Shitcoin but sometimes I buy coins like that with a small nominal amount of $10-$20 in the hope of getting very high profits, currently we can find coins like that on the Solana network which is currently hype, I don't dare to use it. a lot of capital because it is very risky.

[UNIVERSE]

Crypto trading looks tempting and no doubt is very beneficial if executed properly. It's like a double edge sword.

Recently a famous Pakistan Tik Toker reveal his story about how he lost almost $72K in crypto trading. According to him he started crypto trading after seeing his friend making profit from crypto trading. He initially faced loss of $10.5k (3 Million Pak rupee) and told this about that. His friend replied that such loses are normal and you should invest more to recover loss. He invested more and ends up in overall loss of $72k.

Many people might think that trading is an easy way to enrich people while trading. Even though that's not always true, although there are people who have become rich from trading. However, this is not an instant achievement, as expected by new users in the crypto world. Because trading is very high risk, many people even realize this point, it is very important to realize that trading is high risk. So don't just hope for profits that can make you suddenly rich.

This is a quite wrong opinion when we believe and only believe that trading can make me become rich. But it doesn't cross their minds if they don't think about the risks they have to face, which are much worse.

[TopT3ns]

Many people might think that trading is an easy way to enrich people while trading. Even though that's not always true, although there are people who have become rich from trading. However, this is not an instant achievement, as expected by new users in the crypto world. Because trading is very high risk, many people even realize this point, it is very important to realize that trading is high risk. So don't just hope for profits that can make you suddenly rich.

This is a quite wrong opinion when we believe and only believe that trading can make me become rich. But it doesn't cross their minds if they don't think about the risks they have to face, which are much worse.

Exactly, when people think trading is one of the fastest ways to grow the money we have then that is a very wrong mindset, because with trading there is no guarantee that we will always make a profit, sometimes we also have to accept losses because we are trapped at high prices. When I meet people I prefer to keep quiet about cryptocurrencies, so they don't think that growing money by trading is easy.

[bettercrypto]

Crypto trading looks tempting and no doubt is very beneficial if executed properly. It's like a double edge sword.

Recently a famous Pakistan Tik Toker reveal his story about how he lost almost $72K in crypto trading. According to him he started crypto trading after seeing his friend making profit from crypto trading. He initially faced loss of $10.5k (3 Million Pak rupee) and told this about that. His friend replied that such loses are normal and you should invest more to recover loss. He invested more and ends up in overall loss of $72k.

He hasn't shared details of which token he bought, it's price, timeline etc but what I deduce from his story is that he started trading seeing his friend making profit and thought he too will make profit. He doesn't have any plan to follow and if you are coming to crypto trading with this mentality then you are deemed to loss. Crypto trading requires you to have an execution plan with you which you have to follow carefully.

More details here https://www.samaa.tv/2087311573-tiktoker-zulqarnain-sikandar-faces-rs20-million-loss

Trading can't be lethal; it's a bit of a misinterpretation, and it's not good for beginners to misinterpret the true definition of trading. Then one more thing: getting a profit in trading does not depend on what others say, and you will trust that immediately without even doing any confirmation if the advice given to you is true or not.

You should know for yourself as a trader if the advice you are being told is true, so at least in this way, you will know what else you should improve in your trading studies here in the crypto space industry.

[Captain Corporate]

Like I said before, there are no major coins that dropped that much, so it was mostly some newbie doing what he shouldn't, this is true for basically everything in life. You can leverage your position at gold too, or forex, I guess some nations even have stocks too, long/shot calls etc as we know from gamestop stuff. So all in all, if you really want to lose money quickly then you can find plenty of other things that aren't bitcoin as well, its not a news. I get that it may look like this is crypto related, but this is just some newbie trader making a newbie mistake and nothing more, could happen to anyone in any market.

[taufik123]

Exactly, that's the danger of Shitcoin but sometimes I buy coins like that with a small nominal amount of $10-$20 in the hope of getting very high profits, currently we can find coins like that on the Solana network which is currently hype, I don't dare to use it. a lot of capital because it is very risky.

The risk will be at your own expense, going in with $10-$20 may be enough.
But if you are confident and want to test your luck, going in with $100 at the beginning when the Marketcap is still quite small or maybe below 1 million is good enough.

But you need to do some research, then whether the LP is locked or not, because a lot of memecoin devs unplug their LPs when the Pump price and it really becomes Rugpull.

[MrSpasybo]

Like I said before, there are no major coins that dropped that much, so it was mostly some newbie doing what he shouldn't, this is true for basically everything in life. You can leverage your position at gold too, or forex, I guess some nations even have stocks too, long/shot calls etc as we know from gamestop stuff. So all in all, if you really want to lose money quickly then you can find plenty of other things that aren't bitcoin as well, its not a news. I get that it may look like this is crypto related, but this is just some newbie trader making a newbie mistake and nothing more, could happen to anyone in any market.

This trader who lost $72K in this story did not manage his capital well enough. I don't think he even thought about preserving capital for his investment journey. $72K is a huge amount of money for many people, but it was used to buy deep experience in the crypto market, which he could have gotten for free in crypto forums.

Part of the problem lies in the choice of tokens. He may have chosen memecoins, or he may have participated in futures trading with very high leverage. Losing is a part of trading, but if a trader doesn't manage capital well enough, he may not have the opportunity to continue to exist with the market, learn, progress and make profits in the future.

[Rruchi man]

Crypto trading looks tempting and no doubt is very beneficial if executed properly. It's like a double edge sword.

There are new crypto traders who only focus on the benefits they can get from trading cryptocurrency, they forget that it has the potentials too to make them poor just as quickly as it can make them rich. Invest in learning and know that as newbie to trader, it will require you to dedicate time to lots of learning to increase your chances of making profit from trading in the future.

Practice demo trading, and when you start trading with real money, always try to find out why you lost a trade so you do not repeat the mistakes made.

Learning can take time, and you should not try to skip the process.

If this TikToker learns why he lost, in a few months time if he doesn't quit trading, he can make it all back and even more than what he has lost.

[NotATether]

His mistake was thinking he was a qualified trader when he only has a background in being a tiktoker.

It never ceases to amaze me the amount of risk that naive people bring on themselves.

If this TikToker learns why he lost, in a few months time if he doesn't quit trading, he can make it all back and even more than what he has lost.

That's bad advice because as you can see, he is a tiktoker. I don't think he has any interest in studying professional trading for 10,000 hours. In practicing something, you will make mistakes, and so for the 97% of people who quit, since trading is the activity here then he most likely loses even more money if he tries again and fails.

[Jamal Aezaz]

Losing in trading is normal, but it doesn't mean you should keep trading if you lose if most of the time there is something wrong with your trading strategy. If we are consistently losing trades, we should stop trading and go over our trades to see what is wrong so that the next time we trade, we know what to do to reduce losses. We will always experience losses, no matter how great our strategy is, therefore don't overcomplicate trading.

In trading loss is not always normal and sometime the main cause is using of wrong information so don't continue trading in such situations but remember that that gaining accurate knowledge first is most important without which you cannot fix your mistakes.

We should learn new things about trading because new things arises and new strategies should be applied. If you Loss for only one or two times after long success then this is normal but you should also minimize such normal mistakes.

[milewilda]

It's stupid to just trust his friend, and he looks very FOMO, even though at the beginning of the entry he had already lost $10.5k,
and it didn't make him realize that it was not good at all.

Because maybe too greedy want more profits so put more money on shitcoin which is not obvious.
Losing $72k in just an instant is a foolish act, how it can entrust such a lot of money to a coin that has no clarity.

Try trading in Bitcoin or ETH, then it will be a different story if you buy at a crash price and hold it for the long term.

But if he trades Futures and uses high leverage, it will liquidate very easily,
and it is also the stupidest act because he is just a beginner tempted by other people's profits and eventually FOMO.

That's basic human nature, losing up to $72k for me is a very lot of money,  it would be crazy if that much money was lost in an instant. Maybe your advice to stop getting into shitcoins doesn't convince him enough so your friend thinks to keep trying. hope that the first capital used can be returned again.

Thats a lot of money here in our country on which this is something that you would really be able to have some business or even could be able to build up a house or something like that.
This is why when dealing up with something like trading then there would really be those risks and this is something that could really happen. This is why risks management would really be something that crucial when it comes to this because if you arent that careful when it comes to this matter then for sure you would really be ending up with loses.
Never ever make yourself that too involving your emotions when it comes to trading because this would really be stirring up your analysis which we know that this is something
that could affect up along the way and this is something you should avoid.