Fastest way to lose an $1,000,000 account

Discussion in 'Trading' started by qdz2, Jan 10, 2003.

  1. Find a stock with a huge spread and buy ask and sell bid all day long.
     
    #11     Jan 10, 2003
  2. I could lose it all in few hours.
    Write a simple program that bought and sold at market
    in a loop, across 100 high priced stocks.

    The SPECS would send me free superbowl tickets.

    peace

    axeman
     
    #12     Jan 10, 2003
  3. If you went to a Casino and played with all that money, you'd get free room, food, great hookers, pot brought up to your suite and a helicopter ride to send your broke ass back home.
     
    #13     Jan 10, 2003
  4. GD2KNO

    GD2KNO

    Why would you want to lose the money?? If it's for taxes send me PM and we can dicuss "losing it" but keeping most of it.

    But, to answer your question. I would buy a million in way out of the money (the highest strick price available) short term call options on the S&P or OEX.

    It's been a long time since I traded options but I believe there are expiring options for next Friday. Only please let me know, and I'll sell them to you.
     
    #14     Jan 10, 2003
  5. The huge bid and ask gap on ES Futures Options is marvelous for losing money, in combination with their rapid time-decay.

    But of course, using as much margin as possible is probably the very best way to lose more money than you have in the blink of an eye. With a million dollars you could trade about 400 ES contracts at a time with intraday margin, total value about 20 million dollars. Each tick the ES moved against you would cost you $20,000. You could go for broke if the ES moved 50 points.
     
    #15     Jan 10, 2003
  6. Wait until Lundy gets off his shift at the supermarket, he'll give you the answer that you'll endorse.

    (You never heard of a talking horse? Well listen to this: Iiiiiii am Mister Eddddddd)

    Go right to the source, and ask the horse
     
    #16     Jan 10, 2003
  7. Fund Gordon Gekko's account

    Sorry, Gordo :D
     
    #17     Jan 10, 2003
  8. That is assuming that you know which direction the market is going so that you can take the opposite side. Picking which direction the market is going, and betting against it, is just as difficult as betting with it. You could also double your money if the ES moved 50 points, making it twice as hard to lose your original $1,000,000.
     
    #18     Jan 10, 2003
  9. Buy Larry Pesavento's books about how the planets are aligned and their significance to financial markets.

    ... and you might even have fun doing it!
     
    #19     Jan 10, 2003
  10. This sounds like the treatment for a new movie about a guy trying to lose all his wealth as quickly as possible by finding an illiquid security or options market to blow it all on...Kind of like a twisted Brewster's Millions plot...

    (Only problem is the guy cant figure out which way the market will go to make money, but he cant figure out which way the market will go to enable him to lose it as quickly as possible...In an effort to reduce his million dollar wealth in a weeks time, the trader buys a million dollars worth of OTM OEX calls and lo and behold they quadruple on him and he is now worth 4 million...Now he has even bigger problems!!!!....)
     
    #20     Jan 10, 2003