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re: Rookie trader racks up $700K in debt trading options on Robinhood, takes own life
Posted on 6/18/20 at 2:22 pm to KamaCausey_LSU
Posted on 6/18/20 at 2:22 pm to KamaCausey_LSU
you had it right back on page 2
according to the marketwatch article thats exactly what happened
quote:
Sometimes it can show a extremely large amount of debt when your short legs get executed early and the long legs are still open. I really hope the guy didn't see $700k debt and didn't realize that he had almost that much in collateral with open options. If so, in reality he probably only owed Robinhood between $1-10k.
according to the marketwatch article thats exactly what happened
0
Posted on 6/18/20 at 3:24 pm to KamaCausey_LSU
Level 3 requires margin at my firm.
Posted on 6/18/20 at 7:25 pm to Janky
hey @janky
Posted on 6/18/20 at 7:30 pm to Mr Perfect
I’d love to see your YTD returns...something tells me you won’t post them though
Posted on 6/18/20 at 7:39 pm to iAmBatman
quote:
I’d love to see your YTD returns...something tells me you won’t post them though
^^^^This
Posted on 6/18/20 at 7:40 pm to iAmBatman
a monkey with an extra chromosome should be up YTD in this market. Let the child play he’s not hurting anybody
the whole “trading army” thing is hilarious but last I checked it’s a free market open to all, let them do their thing. Walking humbly is the best course of action and they’ll learn that soon enough
the whole “trading army” thing is hilarious but last I checked it’s a free market open to all, let them do their thing. Walking humbly is the best course of action and they’ll learn that soon enough
Posted on 6/18/20 at 7:42 pm to iAmBatman
96% up my guy. that right
Posted on 6/18/20 at 7:45 pm to Mr Perfect
quote:
96% up my guy. that right
sounds about right if you are trading off March lows.
good for you
just remember what you are doing. You are gambling. The house always wins when you do that. Take the opportunity to learn during a generally low risk market so that you can win when the risk is far higher
Posted on 6/18/20 at 7:49 pm to cgrand
hey dude thx for advice..our plan will be fine. we're very good team. ty
Posted on 6/18/20 at 7:50 pm to Mr Perfect
go get em
there is money out there for the bold and the risk is low
there is money out there for the bold and the risk is low
Posted on 6/18/20 at 8:11 pm to cgrand
one thing about RH needs to be pointed out and nailed up on the bulletin board. Whether by dumb luck or circumstance the flood of new traders in mid March perfectly timed the market at the bottom.
whereas I recall many in my peer group wringing their hands wondering when to get back in. Kudos to them and too bad so sad for anyone that sat on their cash and missed a generational buying opportunity
whereas I recall many in my peer group wringing their hands wondering when to get back in. Kudos to them and too bad so sad for anyone that sat on their cash and missed a generational buying opportunity
Posted on 6/18/20 at 8:22 pm to Mr Perfect
Kid, I said YTD, not the past year...you do understand there is a difference?
Then again, that picture doesn’t prove anything.
And what team are you talking about? Does your travel ball team have a investing club?
Then again, that picture doesn’t prove anything.
And what team are you talking about? Does your travel ball team have a investing club?
Posted on 6/18/20 at 9:08 pm to iAmBatman
quote:
iAmBatman
what would you say your own most recent useful contributions to this board are, outside of complaints about thread titles and criticizing other posters?
Posted on 6/18/20 at 9:09 pm to cgrand
1) ensuring thread title guidelines are followed so the board is easy to use
2) highlighting ignorance
2) highlighting ignorance
Posted on 6/18/20 at 9:13 pm to iAmBatman
in other words, “nothing”
do better
do better
Posted on 6/18/20 at 9:17 pm to cgrand
Nah
Posted on 6/18/20 at 9:48 pm to cgrand
quote:
the whole “trading army” thing is hilarious but last I checked it’s a free market open to all, let them do their thing. Walking humbly is the best course of action and they’ll learn that soon enough
I agree with the sentiment here. If they hurt anyone it’ll be themselves. They do seem to challenge the idea of efficient markets and all news being “baked in” to the stock price (see: Hertz), but if anything this should just create additional opportunities for savvy investors.
I just hope we don’t see it lead to regulation that restricts retail investors’ capabilities.
Posted on 6/19/20 at 6:35 am to RT1941
quote:
THANK YOU!
This is bullshite - a 20 yr old didn't just download an app and start trading. There's no way he could get that deep on margin without his account getting flagged. That's not how this shite works.
I heard them talking about it on CNBC yesterday. It happened but I didn't pay attention to the details and don't know how he ran up that much.
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