Wanted to start a thread of people that blew out their accounts. Thought I'd start with this big one. This is what the guy said regarding that huge drop. "Two worst trades were shorting sfix at 38. It ran to 53 within a week and margin called me for 800k. Then I took the rest and sold naked calls on tlry which seemed like a no brained. Very next day it ran up 100% and margin called me. I was forced to buy the calls I sold the day before for a 1200% loss"
Don’t have an IB account but isn’t that most likely paper money? Assuming the paper money default is 1 million? Not a blowout but always found this video hilarious. Still remember the first 1000 I lost on one trade in a morning gap. Didn’t notice earnings coming up. Funny how I’ve grown to those emotions. Sure I’d be pissed if i was down 25% tomorrow morning but down days don’t really phase me after 3 years. Equity highs still put a smile on my face though.
That chart is his account balance over the course of a year. The -$850k is what he lost over a 1 year time frame.