Brother Machi's ETH long position is about to be liquidated again! Is he even a qualified futures trader? He recently opened another long ETH position with a liquidation price of 2,203. The current price is around 2,240. Less than 2% away from zero. In the past four days, he sold 15 NFTs at rock-bottom prices, losing $500,000 to raise $223,000 for margin calls. That money was gone in just a few days. He first suffered a small loss of $909,000 on Papertrade. Then he accumulated a massive loss of $37.4 million on Hyperliquid. A whale who once held 150 NFTs is now surviving by selling them, only to open more positions and get liquidated again. This inevitably makes me question: Is he even a qualified futures trader? My answer is clear: No! He's not even a trader; he's just a gambler with a whale's worth of capital. Look at his trading pattern over the years—it's extremely dangerous: First, he almost exclusively goes long, never short. His positions in ETH, HYPE, PUMP, and BTC are all long. He might think he's practicing Buffett's "never short" principle. But this is the crypto market, not the US stock market. The US stock market has a long-term upward fundamental support, while the crypto market is a meat grinder driven purely by liquidity, lacking intrinsic growth. In a market with extremely volatile bull-bear cycles, going long is tantamount to betting on perpetual rises. Once the cycle reverses, long positions become sitting ducks. Second, he doesn't set stop-loss orders. His "stop-loss" is liquidation. Look at his recent ETH long position: 25x leverage, entry price 2,263, liquidation price 2,227. The difference was less than $40. He didn't take any "active stop-loss" action at all. His risk management logic was: either the price recovers, or the system kills him. Third, he liked to hold on to losing positions, and in the most drastic way. A normal trader facing a margin call would stop-loss, reduce positions, and admit the mistake. His choice was: sell NFTs to replenish margin. A year ago, he profited $44.84 million on Hyperliquid; now, he has not only lost all his profits but also suffered a loss of $37.4 million. From earning $44 million to losing $37 million, the difference lies in these nine words: "no stop-loss, holding on to losing positions, and only going long." A qualified contract trader's core skill isn't being right about the direction, but surviving when they're wrong. Brother Machi didn't set stop-loss orders, didn't manage his position size, and didn't switch between long and short positions. He only had the capital of a whale and the obsession of a gambler. This isn't a story of a trader getting wiped out. It's a story of a wealthy person proving to the market, in the most expensive way, that they fundamentally misunderstand trading.