To Everyone Copy-Trading Me: My Explanation and Apology for This Major Loss

Dear friends,

First, I want to say I’m sorry.

This loss caused some of you who copied my trades to suffer serious losses on your principal, and some positions were even liquidated. I am entirely responsible for this outcome—not the market or anyone else.

I. What happened

In the early hours of November 12, I had originally closed two long positions. Later, I placed two orders to add to my long positions at a pullback level. The positions were too large, and I hadn’t set stop-losses. When I woke up, the positions were already underwater. After that, instead of admitting my mistake and cutting losses, I continued adding to my positions at the planned levels. On the night of the 13th, ETH briefly returned to profit, but I didn’t exit and kept holding, allowing the risk to grow. Prices continued to fall, and eventually I could no longer exit at an acceptable loss.

I was in a very poor state of mind during those days. I should have stopped trading, but I didn’t.

My mistake wasn’t “a bad call”—it was a loss of control over risk management: holding losing positions, failing to set stop-losses, adding to positions against the trend, and using excessive leverage. I violated the rules I had publicly stated myself: “risk no more than 1% per trade, halve positions at a 10% drawdown, and pause at 15%.” A trader’s bottom line is not to expose those copying their trades to more risk than they can bear. I failed to meet that standard.

My own copy-trading account and main account also suffered significant drawdowns.

II. What I’m doing now

I’ve set stop-losses and made a plan to reduce positions, with the goal of preventing the risk from growing further.
I’m pausing new positions for copy-trading. During this period, I’ll only manage existing positions and won’t open any new ones.
The conditions for resuming copy-trading are that I first put risk-control rules into practice (isolated margin, a leverage cap, mandatory stop-losses before opening positions, and a per-trade risk limit), publish them, and accept oversight. I won’t resume before then.

III. What I won’t do or promise

I won’t promise to “make back everyone’s losses,” and I won’t take on greater risks to make up for them—that would only repeat the same mistake. I won’t blame market conditions or point fingers at anyone.

IV. My advice to you

Please first check your actual losses in your own account. Decide whether to continue copy-trading based on what you can afford to bear, and don’t increase the amount you copy-trade with to try to make up for your losses.

I know I’ve let everyone down and betrayed your trust this time. I’m sorry. I’ll share an update on my progress later.

Mi Shen
November 15, 2026