In 1995, one 28-year-old trader sank a 233-year-old bank. The bank was later sold for £1.
Nick Leeson hid his losses in one error account: #88888.
£2M at the end of 1992.
£23M by the end of 1993.
£208M by New Year's Eve 1994.
Then the Kobe earthquake hit. Instead of cutting, he DOUBLED his long Nikkei position. Then doubled it again.
Final bill: £827 million. Barings, the Queen's bank, was gone.
Three habits that killed it, and that still kill accounts in crypto today:
1. Selling "calm" with no plan for the tail move
2. Hiding a loss you don't want to look at
3. Revenge trading to win it all back
With $BTC this shaky, be honest: do you have your own "88888", a bag you stopped checking? 👇
Full story on my YouTube channel, Liquidated, Ep. 1.
$BTC $ETH
Nick Leeson hid his losses in one error account: #88888.
£2M at the end of 1992.
£23M by the end of 1993.
£208M by New Year's Eve 1994.
Then the Kobe earthquake hit. Instead of cutting, he DOUBLED his long Nikkei position. Then doubled it again.
Final bill: £827 million. Barings, the Queen's bank, was gone.
Three habits that killed it, and that still kill accounts in crypto today:
1. Selling "calm" with no plan for the tail move
2. Hiding a loss you don't want to look at
3. Revenge trading to win it all back
With $BTC this shaky, be honest: do you have your own "88888", a bag you stopped checking? 👇
Full story on my YouTube channel, Liquidated, Ep. 1.
$BTC $ETH