James Wynn lost $100,000,000 in what he himself calls a casino while everyone calls him a “trader,” “hero” “legend.”
Nope, he’s not. He’s a gambler.
Easy money comes in. Easy money goes out.
And when the taste of success clouds your mind, this turns into a habit, a pattern, a behavior you cannot break.
“Iwiwiwithdraw ko naman kapag nanalo ako malaki.” Sure ka? Gamblers bet and bet. It has become an ADDICTION.
Wala ng risk management sa ganyan. He is “trading” from an all-or-nothing perspective.
Max leverage, maxed out capital. Liquidation is his stop loss, which what really happened.
When I read about his trade before he got liquidated and his margin price around $105K while I see it as a region for potential retracement, I knew his trade wouldn’t make it.
This is how social media glorifies traders these days.
While the real traders to glorify are those who aim to be Jim Simons – the best trader in the world – 60% consistent annual returns for almost 40 years.
Ayaw ng social media ng old school trading pero ‘yun talaga ang tatagal. Everything built on hyped, overnight will not last.
Don’t confuse “legendary” with real legends.
Hindi porke sikat ay magaling. Ask mo trading communities if kilala nila sina Jim Simons, Mark Minervini at Linda Raschke. Ask your trading mentors about them.
Real legends have discipline. Real legends last for a lifetime. No large trade will ever kill them.
Original article posted 31 May 2025
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