2026-01-10 00:21:14

The crypto trading world is never short of lessons. During this recent market correction, another high-leverage trader's account became the focus of public attention—James Wen.

Opening his trading wallet data (0x5078C2fBeA2b2aD61bc840Bc023E35Fce56BeDb6), the entire position situation is truly shocking. Currently, his perpetual contract still holds a position of $2.32 million, but the overall account loss has soared to -$23.26 million. In other words, not only has all unrealized gains been wiped out, but he has also lost nearly 10 times his position capital.

The most heartbreaking data: the margin utilization rate has exploded to 154.89%, far beyond the safe line. And what about his position structure? Over 100% long, with no risk hedging at all. The overall return rate has plummeted to -47.66%. This account status is basically waiting for liquidation.

Why use this example? Because it perfectly demonstrates the true face of high-leverage trading. Many newcomers are attracted by stories of "quick doubling," but they fail to realize that leverage is like a double-edged sword—profitable when trending with the market, but losing even faster when going against it. James Wen's account is a real-life illustration of this truth.

The charm of perpetual contracts lies in their flexibility, but so does the risk. Over-leverage, one-sided bets, improper stop-loss settings—any problem in these areas can trigger a chain reaction. This market correction has already taken some people out; I hope those still watching can learn a lesson from it.

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PermabullPete

· 01-12 09:05

Look at this guy's account, a loss of $23.26 million. Truly a living negative example. Leverage is basically a gambler's paradise. Still risking 100% long positions in full margin. It's time to liquidate. Every time I see these liquidation cases, I want to ask: where are the stop-loss settings? Really, a 154.89% margin rate—what kind of operation is this? No wonder the market is teaching a lesson. Speaking of which, another batch of people will get wiped out this round. Just worried that the new rookies haven't learned yet and will get cut. $2.33 million still hanging there. Are they waiting for the final drop? LOL. The most ridiculous thing is that some people are copying this strategy. Perpetual contracts should have stop-losses; otherwise, they'll blow up sooner or later. Contracts aren't a casino, but everyone treats them like one. How much longer will this account last before being liquidated? Feels like it's just a matter of minutes.

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LightningWallet

· 01-12 03:39

Another story like this—high leverage traders really keep coming forward. Leverage should be used to control risk, but they all use it to add positions. What are they thinking? -47.66% and they’ve been completely wiped out. Without hedging, a 100% long position is truly a gambler’s mindset. Perpetual contracts are indeed flexible, but in the end, they just become tools to accelerate losses, really. Accounts with countdowns to liquidation are hard to watch, let alone for the individual trader. Novices should not be seduced by the dream of doubling their money. High leverage either leads to quick wealth or quick poverty. The question is, are these words useful? The next high-leverage trader is already on the way. The saying “double-edged sword” is like something we have to repeat every time, but no one really listens. When the margin is exploding and you’re still stubbornly holding a one-sided position, how much do you trust your judgment? Just look at the data—risk is always waiting behind flexibility.

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PretendingSerious

· 01-11 00:55

$23.26 million, this is the cost of not setting a stop loss 100% bullish and still dare to play like this, should have been liquidated long ago High leverage and one-sided trading again, really tired of this Perpetual contracts are just a meat grinder, beginners should stay away Floating profits all gone and even losing money, I am truly speechless How far is this account from liquidation Contracts make money fast and lose even faster, a bloody lesson How many times have I said that leverage is a double-edged sword, yet some people still don’t listen Margin rate of 154.89%? This is testing the edge of self-destruction Looking at these data, I feel anxious for him. Playing so recklessly without hedging

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ApeWithNoFear

· 01-10 00:51

Another 233 to join the burial, this wave of decline still needs more casualties Leverage is really a drug, once you take a bite, you can't stop 100% bullish haha, just about to push my pants in Looking at his account makes me think of my own margin call last year, I’m still sleepwalking from it No stop-loss means no defense, this guy is really a brave warrior Perpetuals are just a chopping machine for leek farmers, the liquidation level stories are played out every day To put it bluntly, it's no surprise to lose money here Margin 154%? Definitely stepping in to wait for death If it weren’t for these negative examples, newcomers would really get liquidated down to their underwear Whoever survives this liquidation wave will be the winner

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NftDeepBreather

· 01-10 00:51

Looking at the -23.26 million figure, I just remembered that when I first entered the circle, I almost experienced the same thing. Over 100% bullish and leveraged up to 154.89%? That's gambling with your life. Leverage can double your gains or wipe you out, it's that simple and brutal. The liquidation notice has already been issued, and you still haven't cut losses? That's really outrageous. Another vivid textbook case, but unfortunately, too few people understand the lesson. Those around me shouting about quick doubling have all calmed down now. Hedging risks is really a test of one's resolve. Just looking at this wallet data makes me recall a script I almost reenacted once. Leverage is just an amplifier; when you're winning, it's exhilarating, but when you lose, you're directly facing Marx. Every adjustment cycle takes a wave of retail investors, so let's not be the ones getting cut. Perpetual contracts are flexible, but only if you survive and make it out alive. This guy used his own money to teach everyone a lesson.

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RetroHodler91

· 01-10 00:50

Oh my, a loss of 23.26 million USD... This guy really treats leverage as an ATM And he still dares to be over 100% long? No wonder liquidation is waiting for him It’s always the same story with people like this, then next time new rookies come in and repeat the cycle 154.89% margin rate, just one line away from bankruptcy Honestly, looking at this kind of account data, I think of someone from two years ago who blew up their leverage and disappeared overnight Perpetual contracts are basically gambling tools, just giving you doubled chips The first lesson beginners should learn is: positions without stop-loss are playing with fire How many people have been harvested in this market... I feel sorry for them

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BlockTalk

· 01-10 00:34

Damn, a loss of $23.26 million... This guy really treats leverage as an ATM Over 100% long position and no stop-loss yet, isn't this gambling? Another vivid textbook case, perpetual contracts are just a ruthless money eater Margin exploded to 154%, the liquidation notice is probably already on its way Newbies, don't be brainwashed by stories of "doubling your money overnight," leverage is a double-edged sword, this is no joke This round of decline will wipe out another batch of retail investors, it's heartbreaking but also a wake-up call No stop-loss, no hedging, this operation is really a bit outrageous Looking at others' accounts, you understand what risk really means. I advise everyone to stay cautious Watching people get liquidated every day, when will we see a case of steady profits?

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