Recent bankruptcy trying to open margin account

[zdreg]

My current account was opened more than 10 years ago, I had no reputation as a trader lol.[/QUOTe
&3 was a joke
&1 was irrelevant

&2 is the answer.

 

[nooby_mcnoob]

please for the sake of all that is holy learn to quote.

 

[SunTrader]

They didn't for me. Maybe it depends on the amount you put in.

Margin is margin, as in credit extended.

 

[nooby_mcnoob]

Margin is margin, as in credit extended.

I don't remember them ever doing a credit check.

 

[zdreg]

please for the sake of all that is holy learn to quote.

You should learn how to use the red arrow to follow the conversation flow.

 

[nooby_mcnoob]

You should learn how to use the red arrow to follow the conversation flow.

How about you learn how to use a computer first.

 

[deaddog]

Why would you need a credit check?
Broker will only give you margin on the account balance and believe me they won't let it go to zero.

 

[Overnight]

You should learn how to use the red arrow to follow the conversation flow.

Zd, I love ya man, but you really did screw the pooch on quoting in your post #11 up there.

*cringe*

 

[ajacobson]

Get a copy of the margin agreement online and read it. If it requires updated financials then your answer may be there. Many firms require a credit check for futures and uncovered index options, but the big target is futures. Avoid any misrepresentation, because that can be the first thing you'll end up seeing in an arbitration.

 

[OptionFool]

Thank you. I tried to search for answers before I started a new thread, but nothing came up. What happened to me was brutal, so now I have a massive tax loss carryforward that I need to use up by earning capital gains. So I need to invest again. Even though I sell naked puts and calls, I am one of the most risk-averse investors you will ever see. Unfortunately, I got over-leveraged and had 30 years of gains wiped out in 15 minutes.

That other thread was from January of 2021,
which makes your point even more valid.

Some people refuse to accept reality.


To the OP:

I am sorry this happened to you, but if trading
caused you to blow up your broker account and
resulted in your going bankrupt IRL, you should
not consider trading options right now.

Either trade with a cash account or find another
source of income besides trading. There are
dozens of other ways to generate cash.

Trading is not for everyone and it really doesn't
work when you are operating from a position of
desperation, because you cannot attract money
when your life and finances are in disarray.

It also affects your decision-making abilities and
the other factors that go into being a profitable
trader.

Figure out another source of income and if you
decide you must trade then you probably need
to start at the beginning so that you don't ruin
your finances by doing what you did before.

You can learn a lot by reading through this
forum and other sources, I suggest you start
doing that.

I wish you all the best.