/biz/ - Business & Finance

>>20917246
Tell me what exactly happened

>>20917246

If this is not a larp,

What are you going to tell the investors?

>>20917246
So are you the fag that crashed crypto

Op this is what you do

Call a video conference with investors. Just say you donated it to BLM. You'll be applauded for your virtue.

>>20917338
ding ding ding

>>20917246
Thank them for the bbq sauce like james cordier did

>>20917246
either, larping or in shock

>>20917246
>>20917364
>rogue wave
rogue wave
>rogue wave
rogue wave
>rogue wave

Thanks for the BBQ sauce Linda! Wish I could go to France with you Peter! Oh yea lost all your cash

>>20917246
Do you care?

>>20917287
Looking into that now. But I bought SEP up till 99k and also gave them on the way down. Securing a big fat loss.

Investors are friends of mine and poker degenerates that know shit like this can happen. Still, I am almost vomiting. Lost a good million of my own money as well.

>>20917385
Yea and say it was a rogue wave - that apparently resonates with rich people that own yachts

>>20917411
Yeah. The loss is irreversible. I bought and sold. The damage is quite big. I am drinking now, which I have never done before at home.

>>20917439
Feel like losing any more, or are you done for the day/night?

I am not the only one btw. In fact I probably got raped because of another algo buyin on the way up as well

>>20917421
even a master can panic.

what comes now?

>>20917457
Done for the rest of my life probably.
I had 32M aum, and lost 18.
I started with around 5. But new guys entered as well. So some are up, some are down a lot.

>>20917471
wasnt there a stop for this shit

>>20917492
Its no fun at this scale. Ill continue maybe, but with thousands of usd, not millions. Its insane. I feel very sick

>>20917246
Are you that fag that destroyed our golden bull run?

>>20917510
what exactly was the bug

>>20917492
Jesus man just give me the money I guarantee I wouldn't lose as much as you. I'm a broke ass faggot and turned 50 bucks in 500k and I haven't lost shit because I know the value of money.

someone explain to a brainlet what this guy did

>>20917510
you will recover fren one bad hand wont ruin the entire game

>>20917492
I would have retired with the 5M

The craziest thing is that the human mind will see the replies and think everything is OK.
Just an observation from personal experience, /biz/, as well as wsb.
Gl bro. Human perseverance is a great thing

>>20917492
you're going to have to pull a madoff now
but you can probably do it given that this market will be the gift that keeps on giving

>>20917492
>I had 32M aum, and lost 18.
You are a millionaire. Invest that money safely and enjoy your life. Cant take money with you.

>Cant take money with you
Yet

>>20917612
Its not mine..

>>20917492
That’s insane, gotta eat the consequences unfortunately. What exchange did this happen on? It might be worth your while to seek out a lawyer specialising in this area to see if there is chance at some recompense, though naturally in this space it’s very grey.

>>20917635
Its not mine. Collected 5M from poker players. Ran algo. Made gains. Shaved off a million for myself. Put that in as well. Lost more or less all my own money. Made the first investors a million eacht and lost some new investors 90%

>>20917693
I actually do not think the exchange is at fault. Things could have been better yes, but MY algo went cuckoo.
Binance btw

>>20917724
wtf is going on with that candle??

>>20917724
did you personally write the algorithm?

Will the new investors that lost 90% be pissed off? How many of them will try to kill you?

>>20917724
lol didnt check for errors did you

>>20917246
lmfao u dumb retard cuck all you had to do was go all in on mta

>>20917750
looks like he market bought with a lot of money.

>>20917706
I don't know that to say, just take a moment, walk it off and keep on going... You are obviously an overachiever, you'll get through.

>>20917760
He put a decimal point in the wrong place

>>20917755
Investors have over 10M liquid. And max investment was 1M.
But still
>>20917794
Thanks dude

>>20917706
Where/who do I contact to invest in this algo? Its gambling money so idgaf if i lose it all.

>>20917724
This->>>20917750
if you got wiped by a wick like that you might be able to be compensated though as I said it’s grey and jurisdiction is fucked. Either way you gotta be brutally honest with your investors, but keep it tight because they might try to come after you legally too, particularly if you are operating unofficially. Get somebody on your side for some peace of mind and external advice though, don’t wallow in the horribleness of it all, protect ya neck.

>>20917804
lol either that or an initialized variable spitting out raw data

>>20917246
Flee to a 3rd world shieet hole

can't you just, idk, hold for two weeks

>>20917574
Why take the handouts then?
I did the same shit but I started with $300 played the shitcoin roulette until ~$40k in two months, then went into options and turned that into $650k in around 7 months.
Just keep at it.

>>20917992
How did you turn $300 into 40k in two months? Sounds like larp.

>>20917492
>>20917510
if you're going to step away from the game anyways, can you tell us a basic overview of how your algo worked? how much $ did your algo make?

>>20917246
it's a shame you didn't even hit $100k btc. you would have at least fulfilled our dreams

>>20917750
empty order book + market orders

>>20917246
But why the fuck he didn’t just safely buy coins, store them cold, sell them later in life?
Why the fuck does he have to «play» with an algo he just wrote who would take care of millions $?
Explain that to me...

>>20917492
You probably already have, but get a lawyer. There is no one in this thread or board that can help you as much as a lawyer can. Say it wasn't malicious and that all losses can be turned into tax breaks.

People are going to be mad as shit.

If you think your life is endanger ignore what I said about a lawyer and flee the country. If I handed someone 500k, told them to make me 2 million, and then they said they lost it all, I would probably kill them desu.

If you need a place to hideout, just hit me up on discord. I've made my millions already from 2017.I don't live lavishly at all, I hide my wealth and don't go out. memey#4095

You fucked everyone over anon. Blood on your hands, your IP has been traced and there will be a knock on your door shortly.

>>20917706
just bail with your investors money and retire in South East Asia

>>20918230
Because it is a larp kek

>>20917492
2% rule.

32M AUM and doesn't write basic sanity checks nice larp

>>20918528
This anon is going to murder you.

The road to finacial independence is paved with the blood of margin traders.

>>20918528
This is the best advice you will get here OP, experienced legal counsel should be your first step before anything else. You need to prepare for investors to come at you.

>>20917246
Everyone's trading algorithm works in a bull market

>>20918230
>>20918658
Not unreasonable. I turned $900 into 60k in a few months

>>20918528
>>20918893
if anon is in the USA and isn't registered as an investment professional with the SEC, then anon could have bigger problems to worry about than civil suits from angry clients...

>>20918512
he os a gambler, as are hos friends. make sense mow?

no limit orders to minimize losses?

>>20918732
>murder the millionaire
>get none of his money
>be tried for murder inevitably as my neighbors will ask where the other car came from
Wow amazing plan I have cooked up.

>>20919118
Still not. Real gambling would still be to buy some new crypto and hodl.

Trying to play like the big banks without their material and capacity is plain stupidity

>>20917510
Hey man, any tips for a beginner in asset management. I manage 300K right now with another 500K coming in. My strategy is not based around speculation but rather something more akin to arbitrage that has been bringing me 60-90% APR with low directional risk.

I’m more so looking for tips when managing other peoples money, not with my strategy itself.

>>20917246
hey anon. although it doesn't seem like it right now, in a few days the "i feel like puking and hate life" feelings will fade. you will get thru this.

check out the fbi negotiator videos on youtube on how to advise ppl of bad news. the tldr is be straight and direct and dont beat around the bush. (ie. tomorrow morning say - "bad news, due to volatility last night and some unforeseen technical issue, 90% of funds have been lost. for whats its worth i lost most of my money in this event as well. i feel physically sick about this")

you having skin in the game will help you with investors to some degree.

>>20918230
I turned $1000 into 300k

>>20919204
Which market is able to net you 90% APR through arbitrage?

>>20919301
Chris Voss is fucking awesome. I'm still trying to get used to playing that game but holy shit it works.

>>20919325
how

>>20917246
This spike down HAD to happen, OI was falling while price was rising, the move since 9200 is all fake

>>20917576
He got the shit kicked out of him by actually market makers. OP is dumb retail money. OP provided the liquidity for Market makers (along with anyone else that lost out) to dump.

>>20918230
Huh? I know plenty of guys who made way more. They introduced me to this shitcoin roulette.
It's a zero sum game, just don't be greedy, waiting for that 100x which never comes, that's it.

>>20918230
I turned $75 into $125k

>>20919346
Its not pure arbitrage, either way I’m not going to give you my alpha

>>20919915
How? Options, leveraged shitcoins?

>>20917246
JOE is that you?

>>20917574
> dude i make so much money trust me can i have some of yours
Browner than bark

I did use limit orders ofc. But max 10% over best ask to secure execution. Lifted all offers, ate through the whole book. My algo is based on simple machine learning on the orderbook and arbitraging versus related products and on other exchanges. I got fucked because another algo seemed to have been doing the same.

Nothing is written on paper, I kmow most of these guys. They will not cry over a lost million.. I do . Could habe bought a house. Fuck

>>20919589
Tell me more

>>20918230
It is a larp. This board is packed with bipolar chinks.

>>20918230
I turned 20k into zero

How the fuck do you guys make 1000%+ returns a year trading? Are you all some high IQ elite university math graduates? I'm just lucky that I bought LINK in 2018 when I was just 18yo and that I had managed to scheme $3k to put into crypto in 2017 November. Yea I got around 19k LINKs and a small bag of shitcoins, but I don't do anything. Meanwhile you fucking autists flip shitcoins, trade options and turn your $10k into fucking millions of $.

>>20920505
joe realised like 50 million usd in profits on bitfinex over the last 2 years, OP is sad over a million so no

>>20920878
of course only the smarter anons make money in this market, there's enough retards that are losing. but imo it's much easier in crypto than anywhere else because the whole market is full of low iQ shitskins from india or who knows who so you're automatically at an advantage if you're white

>>20920709
>machine learning
Meaning that your bot executes buys and sells and most of the time you don't know why. Maybe it collided with another bot. Maybe binance can hunt individual ML traders with their own ML, just sayin.

>>20918230
It's not a larp. I bought swipe and turned 8k into 4k in just one week.

>>20920878
It's just larping kids. People make up to 10x in year periods and will often post evidence of such, the rest are pure kidlarps.

>>20920727
If you think you can close out the business amicably, that's good, but it would still be wise to take legal counsel on board. You don't want to put your foot in further than it needs to go and its easy to be careless in emotional situations. Either way, now is the time to act slowly, so enjoy drowning your sorrows, but think carefully this week and seek outside help if you feel you need it. There is no point in making things worse than they need to be and every party involved should have been aware of the risks involved.

>>20920878
You are angry that you invested $3k and it's now worth over $150k? And you still say it's not the same as turning 10k into a million? What the fuck nigger.

a fucking algorithm with millions of dollars for buying and selling CRYPTO? stocks and other shit, yeah maybe algorithms can work but for crypto lmao the most volatile and random currency/assets in existence right now?

>>20921076
volatility = ez alpha u brainlet

>>20921070
Well yea, but it's been almost 3 years meanwhile some anons here went from $600 to $40k. I mean yea I'm still doing extremely good, but I just wanna know how some can trade so consistently with insane profits.

>>20921076
There's nothing random about crypto. It hits all the expected levels.

>>20920709
>postonly

Sorry op, but HaHAHAHAHAHAh fuck you and fuck your algo faggot. Chink and incel bots ruin manual trading on Binance now

>>20920058
I don't want or care about your "alpha", which you've most likely misidentified through an oversight of some un-hedged risk. Was more just curious about which market this was in (crypto, equities, etc).

>>20920709
So what you were doing was picking up pennies infront of a bulldozer and you got run over by the bulldozer.
https://en.m.wikipedia.org/wiki/Long-Term_Capital_Management
The smartest gjmuys on the planet did the same thing in the 90s and still got run over by the bulldozer
Rip.
Also >implying there was only one other algorithm doing that alongside yours
If you actually believe that you are too retarded to be running that strategy with that much money

imagine trading already volatile assets like shitcoins at leverage, when by the very nature of bitcoin can be dumped a crazy amount instantly if any whale decides to cash out

Good news anon!

>>20922018
Does that mean he's not fucked after all?

>>20922058
Oh no, he's still fucked. But at least he didn't fuck up other people

>>20921701
>Was more just curious about which market this was in (crypto, equities, etc).
retard

>>20922058
Hes probably still very fucked because he was the one buying kek

>>20917338
Genius

>>20922197
>>20922085
So that image says his position is still open. Does that mean that he can recoup the losses as long as he doesn't sell? Or am I misreading the situation?

I swear this shit makes me feel like a total tard. I don't even understand what a short or option really is. I understand leverage and margin tho, surprisingly.

>>20922295
Anonymous (ID: zZQ2h2le) 08/02/20(Sun)14:28:00 No.20917421>>20917481
>>20917287
Looking into that now. But I bought SEP up till 99k and also gave them on the way down. Securing a big fat loss.
nope he's fugged

Test

>>20922295
Basically his bot kept trying to buy into 0 liquidity, ie nobody selling so the price shot up until market dynamics shifted and sellers took advantage of the massive price discrepancy. This is relatively common in low liquidity markets. Google the flash crash of 2010. Crypto is worse because books are way thinner than they appear and shit can snap so quickly that stops get completely run through and just amplify the move a hundred fold.

>>20922563
Thanks for the explanation.

So someone just TRYING to buy is enough to bump the price? Nothing needs to actually change hands? I guess it makes sense, the intent to buy = demand, but I sense this can be exploited. And when someone, probably also a bot, realised the price went up more than it should be, it sold to take advantage?

I bought at 100k, just need to hodl for a few more weeks and I'll take my gains at 105k and sell again.

>>20917246
Can I have your bot, OP? It's like to put $500 in and Jerry it fo for a year.

Your may have lost millions for your investors but at least you could help me out a little.

Can you post it on a Google drive with instructions?

>>20922919
Fuck I hate android keyboards so much

is this real or larp

there is no proof

>>20923170
>there is no proof
>>20922018