THE WIPED OUT
The thing is; some times I wonder why a trader will hold on to a losing position for a long time and then feels like he (her) actually knows what he is doing. Seeing such amount of money being wiped out on a single position, is like watching a slow-motion train wreck. I understand that to some people this amount might be like normal. But bro! let's be realistic here; No matter how rich you are, there is no way you will lose $36.4 million and still stays the same even in the next 3 weeks bro.
If that dude had hold this funds in his spot account, buying and selling or even holding the ETH asset in his wallets, possibilities are that Ethereum will bounce back strong and even generate more profits without indulging in leverage trading and taking such unthoughtful risk.
OVER LEVERAGING IS A KILLER
Over leveraging is a killer, I keep telling people this. When once you click on buy (sell) with cross 50 leverage, you've got a very high chances to double your capital in a very short while as much as wiping off everything in less than few minutes if the position moves adversely.
Now lets say there were two traders with that same amount of capital; now one is a scalper, trading with almost x50 leverage per contract, and another is so conservative trader, trading spot market with steady profits. Now in this scenario, the former has lost everything trying to scalp the shits off Ethereum, while the later prioritize capital protection trading spot, buying and selling with no leveraging, but makes steady profits.
You can build your capital buying and selling little by little with no leveraging but makes consistent profits. Am not saying you shouldn't take risk trading futures. No! All am saying is that, If you know what you are doing, trading futures contract, might feel perfect without over leveraging. But as a trader or an investor, who is looking to build his (her), capital consistently without taking unnecessary risk, spot trading with dollar cost averaging strategy might be the best approach for consistent profitability for you.
CONCLUSION
It is generally the best approach to crypto trading and investment employing dollar cost averaging strategy. However, there is no investment or trading without risk. So it is very important to do your own research before trading with what ever strategy you see online. Every market involvements carries a high level of risk.
stay good!