Top Crypto Trader Admits $500,000 Loss, Quits Leverage For Good: ‘A Hard Step To Take’
Posted On November 19, 2024
Prominent crypto trader Kaleo shocked his followers by revealing a $500,000 loss and announcing his decision to quit leverage trading in a candid social media thread that offers valuable lessons for retail investors.
What Happened: In a detailed thread on X on Monday, Kaleo, known for his bullish market calls and trading success, detailed how a series of wins led to overconfidence and poor decision-making.
“Rather than taking a bit of profit riding the positions up, I doubled down and continued to size them up,” he explained, highlighting a common pitfall for traders experiencing a hot streak.
The trader admitted to succumbing to FOMO (fear of missing out) and opening positions in assets without …
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