Dare, I say...I'm intrigued as a mare, who stares at air My favorite food is a medium-rare porterhouse steak, I bare. Pears and apples give me gas. Xare sounds like a cool, smart, unique name for both a male and female. A "mid 5 digit loss intraday"...you could have bought a used Porsche 911 Turbo. Or a Ferrari 355 or 360, if you search hard for a really used one, with alot of miles from a desperate, hurried seller.
His story is a fascinating story on compounding. I did more research on LTD. From 1982 to today it earned 17% cagr compared to the spx 11% (dividends reinvested). The difference in net worth to last fall (LTD's peak) was like a factor of 10.
In the early 90's. A fairly big position in forex (at least for me at that time). I had big returns (that moment 50% a month), almost never a losing trade. I felt superior and almost invincible. So I did not follow the rules sometimes like skipping a stop or average down. One day it had a very bad result...took the mother of all losses. Lost over 50K . It was in the first 6 months I started trading. I was a newbie. Learned my lesson and never had a margin call anymore. Made me humble and from then on never skipped a stop anymore. Later the broker asked me to sign a document confirming that I decided to take that position and that I knew the risk and .... They wanted to be covered in case of a claim. They allowed me to trade forex at the rate of 1 million position per 50K account size. I was a newbie and did not realize the risk. This broker was a criminal in hindsight. Trying to find new victims every month and cash commissions. I know from one man working there who cashed over 1 million in commissions a year from tradingclients. Almost all these clients wiped out in short time and had to be replaced by new victims. One client committed even suicide.
You were averaging 50% return every month? Wow I wish we could go back to those volatility back then.
It was because I took huge risks and was lucky till the moment I took the hit. These returns were only the first few months.
The max available leverage in forex was also higher at that time I believe: 1:400, at least in the US