It's a generational shift...Just look at all the b.s. on the college campuses lately...Everyone "offended" about something and demanding that someone fix it for them...Pathetic.
One for the ages: I owe Etrade $106k, ouch.
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It's a generational shift...Just look at all the b.s. on the college campuses lately...Everyone "offended" about something and demanding that someone fix it for them...Pathetic.
http://www.marketwatch.com/story/he...we-e-trade-10644556-2015-11-19?dist=countdown
This is no scam...but wow, this guy has got to be off his rocker as a trader !!!
1) Shorting a low liquidty stock
2) Shorting a Biotech, low liquity stock
3) With no offsetting hedge with call options (if they were available)
4) Didn't use put options (if they were available)
This just says it all:
re: " he said to get over it because he's had a bad loss before"
Of course he's had a bad loss before because he is still trading with outrageous risk !!!
He should just file for bankruptcy and for heaven's sake QUIT TRADING.
This is no scam...but wow, this guy has got to be off his rocker as a trader !!!
1) Shorting a low liquidty stock
2) Shorting a Biotech, low liquity stock
3) With no offsetting hedge with call options (if they were available)
4) Didn't use put options (if they were available)
This just says it all:
re: " he said to get over it because he's had a bad loss before"
Of course he's had a bad loss before because he is still trading with outrageous risk !!!
He should just file for bankruptcy and for heaven's sake QUIT TRADING.
Yeah, I've never understood why these people don't use options...Intra-day with the stock, fine, less slippage, better liquidity...but overnight...I suppose this is a perfect example of "ignorance is bliss" because it's usually people new to the game who don't have a clue about how much risk they are really taking on...
Exactly. He learnt the lesson that by shorting your max. gain can only be 100% but your max. loss can be unlimited... Trading 101 really...
you mase a mistake by
not quite. the dangers are obvious. the real error was not being flat overnite.
also, why exactly do you have to pay this back? Wouldn't you figure you lost your money and that's it. close your account? if there is no money there is no money
you had not dealt with lawyers or read broker agreements. he will never be able to open an account in his own name unless he settles. your post is just puff.
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I'm in shock that this guy name Joe Campbell is able to use gofundme to repay his debts off the back of others...a debt that resulted in his speculation in penny stocks.
Heck, I remember not too long ago here at ET someone wanted to know if it was a good ideal to use websites like that to raise money to fund his trading account. I thought it was a troll thread and told him such. He later replied to me after a few weeks and laughed...saying he raised 14k.
Geeesh...when I was young, I had to work two jobs to save up for a decent trading capital and use money that was gifted to me by my grandparents to buy a car.
Today, folks just need to go to gofundme and get others to repay their debts or fund their trading accounts. Wow.
Hopefully he doesn't get back into trading again. Then again, he can and if he has another blow up...just run to gofundme and everything is ok again.
Heck, I remember not too long ago here at ET someone wanted to know if it was a good ideal to use websites like that to raise money to fund his trading account. I thought it was a troll thread and told him such. He later replied to me after a few weeks and laughed...saying he raised 14k.
Geeesh...when I was young, I had to work two jobs to save up for a decent trading capital and use money that was gifted to me by my grandparents to buy a car.
Today, folks just need to go to gofundme and get others to repay their debts or fund their trading accounts. Wow.
Hopefully he doesn't get back into trading again. Then again, he can and if he has another blow up...just run to gofundme and everything is ok again.
I've never used my own account. If that is the case though the choice is yours, lose 100k or never touch the stock market again. I think I would choose the second choice? if I was in that kind of position, that's more money than he's probably going to make in the market ever