Riding the market rally with high leverage, his portfolio once peaked near 10 million RMB. However, the market soon reversed into a persistent downward slide. Instead of cutting losses, he panicked and repeatedly borrowed more on leverage to "average down." Within a matter of months, his multi-million portfolio collapsed, leaving behind only fractions of his original funds.
The crash left him with immense debt and fractured relationships with friends and family. Now completely out of speculative trading, he has returned to a regular job to slowly pay off what he owes, noting that high-leverage trading without risk management is sheer gambling.
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