it was impossible to be wiped out in 15 minutes if you weren’t over leveraged. That’s the whole point of risk management. Not to blow up. Don’t call yourself conservative. I wouldn’t trade if I were you. What happens if you lose another 100k? At what point will you be on food stamps for the rest of your life?
No. he blew up on the Volmaggedon. He started a thread a few years ago about how he lost 1.5MM against 1MM net worth being short putsin SVXY or something. Selling unbounded vol on a vol etf is one of the least conservative things you can do.
Ouch, ok i see... If he made his 1MM on that strategy before, i don't see how he could make money going forward, if he has a real edge and made it somewhere else then things look different
sadly, OP has no clue what he's doing. He's short VIX 2x his life savings and thinks this is conservative. He now has a negative net worth and he wants to trade to monetize his deferred capital losses. This will end poorly and hopefully he won't be on the street begging for change after this.
I was a millionaire, then lost it all in 15 minutes. I was set for life. I am in my 60s now and with no job for the last 20 years, and will have to try to get by on my $1k in social security I start collecting later this year. At least I was able to keep my modest house and car which are paid off. I always lived a frugal lifestyle. I can probably make it on 16k a year. I need a bit more than SS offers.
Consult with whoever filed your bankruptcy as to how to handle it. 7 has different nuances than a 13.