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re: Guy loses $50,000+ in seconds trading on Robin hood app
Posted on 11/4/19 at 9:27 pm to BACONisMEATcandy
Posted on 11/4/19 at 9:27 pm to BACONisMEATcandy
It amusing these idiots are using loopholes to lever themselves into the $1MM range. They act as if RH is t going to come after them.
3
Posted on 11/4/19 at 9:58 pm to OleWarSkuleAlum
Honestly kinda sad to see. Feels like robin hood has practically become a casino for some folks.
Posted on 11/4/19 at 10:11 pm to TigerinOkieHell
Some autist just turned his 4K position into a 1MM position using the loophole! Lol glorious sub!
Posted on 11/4/19 at 11:08 pm to OleWarSkuleAlum
Yeah this would have never happened on A legit broker. Guy clearly should not have been allowed that much margin and his position should have been closed very soon after going negative. Extremely dangerous loophole.
I used to trade options and still do something but I kept getting killed by theta. Futures were better for me.
I used to trade options and still do something but I kept getting killed by theta. Futures were better for me.
Posted on 11/5/19 at 5:58 am to ODP
quote:
Some autist just turned his 4K position into a 1MM position using the loophole! Lol glorious sub!
GUHlorious
Posted on 11/5/19 at 9:03 am to LSUGent
Wallstreetbets is awesome.. 1RONYMANS box spread thread was the GOAT
Posted on 11/5/19 at 12:30 pm to OleWarSkuleAlum
Be careful what brokerage firm you use for your investing/trading guys. Just the fact that Robinhood will let Joe Smoe buy options with margin is a red flag. All it takes is one trader really screwing up to bankrupt a brokerage firm with poor rules/controls.
Posted on 11/5/19 at 12:35 pm to LSU0358
quote:
Robinhood will let Joe Smoe buy options with margin is a red flag. All it takes is one trader really screwing up to bankrupt a brokerage firm with poor rules/controls.
A bunch of autists on Reddit are going to cause the next recession from the comfort of their mom's basement.
We live in the best timeline, don't we folks?
Make America GUH Again!
Posted on 11/5/19 at 12:47 pm to LSUGent
one of my favorite subreddits
Posted on 11/5/19 at 2:52 pm to mrgreenpants
Yup, zero sum
Posted on 11/5/19 at 6:49 pm to Carson123987
That sub is the best thing going on the internet right now!
Posted on 11/5/19 at 7:44 pm to MontyFranklyn
quote:
I used to trade options and still do something but I kept getting killed by theta. Futures were better for me.
Hmm. Interesting. Theta (and his cousin Delta) is what I rely on to make money as an options seller. Theta decay is a beautiful thing in my world. Gamma risk during expiration week is what makes me nervous.
quote:
Yup, zero sum
Not if you strictly follow probabilities, ticker diversification, position sizing, portfolio allocation and you're a net seller of premium.
I'm not sure what this clown was doing (or *thought* that he was doing). But you can go to the CBOE site and pull up some simple, backtested studies that have thoroughly beaten the S&P 500 since the mid 80s. It's nothing magical or even difficult. But just like with stocks, futures or anything else, most people won't follow rules or guidelines enough to be successful long term. They like to roll the dice and give this or that a whirl for a few months. Then when they blow their wad, they think that the deck is stacked against them.
You folks know the old sayin': you can't fix stupid. And the star of the show in the OP was just stupid... plain and simple. Or as people say down my way, "he was eat up with the dumbass."
Posted on 11/5/19 at 8:49 pm to Jag_Warrior
quote:
You folks know the old sayin': you can't fix stupid. And the star of the show in the OP was just stupid... plain and simple.
It’s clear you don’t understand personal risk tolerance...GUH
Posted on 11/6/19 at 7:14 am to OleWarSkuleAlum
Never heard of it.
Posted on 11/6/19 at 7:43 am to Jag_Warrior
Posted on 11/6/19 at 8:03 am to OleWarSkuleAlum
quote:
PunsRTonsOfFun
9 hours ago
Hopefully you make enough from this trade to afford cell phone service and a charger.
quote:
call_warrior
Weaponized Autist
9 hours ago
After I own AMD I'll make it a top priority for that to be gifted to all autists.
Posted on 11/6/19 at 11:06 am to SlowFlowPro
AMD hit all-time highs the past two days. Not sure how much these guys moving volume helped it as they are all using it to perform the glitch but AMD puts were cheap this morning so I gambled just in case there was a dump when RH fixed the glitch. Just sold them for a quick 28% return but I am curious what effect, if any, it will have on AMD once this is patched.
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