Rookie Trader Racked Up $700K In Debt

Discussion in 'Wall St. News' started by ironchef, Jun 14, 2020.

  1. SunTrader

    SunTrader

    Most newbies and some not so newbies don't consider losses at all.
     
    #21     Jun 15, 2020
  2. SunTrader

    SunTrader

    Huh? Kid took his own life. Everyone will suffer - the kid, his parents, the rest of the family, relatives and friends.

    Eeeeeeveryone else, not so much. Boo who RH might tighten things up a bit. Might!
     
    #22     Jun 15, 2020
    Nobert and southall like this.
  3. southall

    southall

    If you dont have any money to get by then how can you afford to gamble. Only gambling addicts would do that.

    My guess the retirees who play the markets have plenty of free cash, low overheads at that age, don't really need those SS checks and can afford to blow them.
     
    #23     Jun 15, 2020
  4. maxinger

    maxinger

    #24     Jun 15, 2020
  5. southall

    southall

    They most likely closed that loop hole. But who knows how many other holes they have in their Risk managment systems.
     
    #25     Jun 15, 2020
    maxinger likes this.
  6. maxinger

    maxinger

    sigh .... many rookie traders think trading skills can be picked up within days.

    they didn't know it is very hard work. so hard work till we perspire blood & not sweat.


    it reminded me when I was a newbie trader.
    I sold option (can't remember call or put). and I collected $50.
    Because many professional talkers & writers said 90% of the options expire worthless.

    two days later, I closed my position at $2000 loss !!
    And I had many sleepless nights.
     
    Last edited: Jun 15, 2020
    #26     Jun 15, 2020
    smallfil likes this.
  7. SunTrader

    SunTrader

    Here in the U.S. we talk of sweating bullets, not blood.
     
    #27     Jun 15, 2020
  8. Metamega

    Metamega

    Decided to check out robin hood Reddit. Topic about this was there.

    Seems it’s common on spreads for their numbers to go out of whack. If a short leg gets exercised it will show huge negative numbers until the long legs get squared off.

    Might not have been down 700k but got scared. Still sucks.
     
    #28     Jun 15, 2020
    JSOP likes this.
  9. Nobert

    Nobert

    Haha, light weight baby, R.Coleman.

    RH - Peter's Pan homeland.
    Personal bancrupt, is it possible ?
    Damn, took it through a funny prism at first, but in reality, that's a catastrophe for an avarage income family.

    They came up with PDT.
    Something should be done to avoid these as well.
     
    Last edited: Jun 15, 2020
    #29     Jun 15, 2020
  10. maxinger

    maxinger

    hmmm. sweat bullets is proper english.

    sweat bullets
    phrase of sweat
    1. INFORMAL•NORTH AMERICAN
      be extremely anxious or nervous.

    sweat blood is coined by me.
    But I think it is also proper english.

    Hematidrosis: people sweat blood

    So for additional effects, we should say learning to trade involves sweating blood and bullets.
     
    #30     Jun 15, 2020