Anyone want to tell their horror story about day trading recently?

luckyfnlou said:
Sad if he took his life due to the expected draw-down.

The topic of draw-downs is timely now. Some new and old traders are killing it and some new and old traders are getting killed. There are likely many more trading in the middle.

Different dollar amounts affect people differently. Keeping your health through draw-downs can be difficult if you don't have the experience or support.

I think a book that addresses new traders getting in over their heads would be beneficial. So many risks that new traders run into with little knowledge.
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I don't believe the 700k - suicide guy had a "draw down". The story I read stated this young guy didn't have that much money. He should never have been in a position to lose 700k. It was implied that Robinhood gave him much more leverage/BP than he should have been given.
 
ps0013 said:
I don't believe the 700k - suicide guy had a "draw down". The story I read stated this young guy didn't have that much money. He should never have been in a position to lose 700k. It was implied that Robinhood gave him much more leverage/BP than he should have been given.
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You are right. It wasn't a trader drawdown. Likely an unprepared new guy with stars in his eyes. Hard to blame the broker though for a bet gone wrong.
 
comagnum said:
The wildest day trading story has to be the Billionaire boys club, this actually happened. You can read the court transcripts or view films about it.

Murdering several to raise funds after blowing up a futures acct, being outsmarted by a better con thinking they had traded an account up some $8M only to find out it was a fake acct.

Plenty of day traders have ended up in prison, mainly for fraud, some for capital murder(s) to raise cash, these kids took greed to a whole new level.

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Here seems to be a recent movie about this story.

Billionaire Boys Club (2018)

https://www.imdb.com/title/tt5179598/
 
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