Most newbies and some not so newbies don't consider losses at all.
Rookie Trader Racked Up $700K In Debt
- Thread starter ironchef
- Start date
If you dont have any money to get by then how can you afford to gamble. Only gambling addicts would do that.
My guess the retirees who play the markets have plenty of free cash, low overheads at that age, don't really need those SS checks and can afford to blow them.
They most likely closed that loop hole. But who knows how many other holes they have in their Risk managment systems.
sigh .... many rookie traders think trading skills can be picked up within days.
they didn't know it is very hard work. so hard work till we perspire blood & not sweat.
it reminded me when I was a newbie trader.
I sold option (can't remember call or put). and I collected $50.
Because many professional talkers & writers said 90% of the options expire worthless.
two days later, I closed my position at $2000 loss !!
And I had many sleepless nights.
they didn't know it is very hard work. so hard work till we perspire blood & not sweat.
it reminded me when I was a newbie trader.
I sold option (can't remember call or put). and I collected $50.
Because many professional talkers & writers said 90% of the options expire worthless.
two days later, I closed my position at $2000 loss !!
And I had many sleepless nights.
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Decided to check out robin hood Reddit. Topic about this was there.
Seems it’s common on spreads for their numbers to go out of whack. If a short leg gets exercised it will show huge negative numbers until the long legs get squared off.
Might not have been down 700k but got scared. Still sucks.
Seems it’s common on spreads for their numbers to go out of whack. If a short leg gets exercised it will show huge negative numbers until the long legs get squared off.
Might not have been down 700k but got scared. Still sucks.
Haha, light weight baby, R.Coleman.Okay, peaked my interest I'll look into Robin Hood Later
Bet I can get my debt over the 1Mil, only 700K light weight!!
RH - Peter's Pan homeland.
Personal bancrupt, is it possible ?
Damn, took it through a funny prism at first, but in reality, that's a catastrophe for an avarage income family.
They came up with PDT.
Something should be done to avoid these as well.
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hmmm. sweat bullets is proper english.
sweat bullets
phrase of sweat
- INFORMAL•NORTH AMERICAN
be extremely anxious or nervous.
sweat blood is coined by me.
But I think it is also proper english.
Hematidrosis: people sweat blood
So for additional effects, we should say learning to trade involves sweating blood and bullets.