Ever Blow Up Your Account?

100k to 25k few years ago

 

$3K to 0 trading ESI in Feburary. Was long and stock tanked. Firm sold my position out and it rallied $4 the next morning.

 

One time I had an account that blew me. Does that count?

 

Not unless your name is Spitzer.

 

A little over 9 years ago.

Segregated accounts can still vaporize if the loss is bigger than the clearing firm's capital.

 

Was this a US regulated firm? Will SIPC protect us?

 

I'm not sure of the exact numbers but my tax returns this year show a 110,000 (and some change) 'Loss Carryforward' amount. This has been incurred since I made my first future trade (Silver) in 1994.

My wife is pissed but to me it means I can earn 110K this year in trading profits and not pay taxes on it.

 

Blew out 12K the first month I started trading.I thought I could scalp using Scottrade day trading platform with market orders. NOT!

 

dajuicer just blew-out his account ... he was holing 10 ES contracts Long when the BSC takeover announcement hit over the weekend ...

 

Never blew up my account.

It's not that I am a great trader, but I focus on avoiding doing stupid mistakes.

The way I see it, the longer you trade, the more experience you gain, and the more chances you have to learn from your mistakes. In this business, few last long anyway, so longevity is itself an edge.