Only gave back 7 days of profits, probably take 2 weeks to make it back.
Trader Loses $377,000 Day Trading TSLA
- Thread starter realtrades
- Start date
Hey, he was down half a mil, did a great job to keep his loss manageable.
This is nothing compared to the firms who shorted it months ago -- or even last year and continue to hold their short positions.
Which firms did that? How big were their positions?
$377k sounds a lot to most people but really depends on individual.
If $377k is only 1% of his fund size, it's entirely acceptable. If it's 50%, then big trouble.
If $377k is only 1% of his fund size, it's entirely acceptable. If it's 50%, then big trouble.
This guy lost the bulk of it going long, -$324k long, -$53k short
$ PnL is meaningless.
This number only matters when it is a significant % of his account or even net worth.
There was a post recently about a Japanese guy loosing 41 mil$ day trading. Everyone was like - what an idiot etc. The guy is actually smarter than all of us combined, his net worth is 3.5 bil$ and he lost 1.17% of it day trading.
Another great example is famous "Bill Ackman has ended his disastrous short bet against Herbalife". No one seems to be capable of doing common sense math - his fund had ~20 Bil AUM at the time he shorted and 1 bil bet was closed anywhere around breakeven to ~26% loss. Which makes it ~1.3% loss. This is all based on quick google search - position opened in 2012 and closed mid 2017.
Don't let shiny objects foul you guys
Val
This number only matters when it is a significant % of his account or even net worth.
There was a post recently about a Japanese guy loosing 41 mil$ day trading. Everyone was like - what an idiot etc. The guy is actually smarter than all of us combined, his net worth is 3.5 bil$ and he lost 1.17% of it day trading.
Another great example is famous "Bill Ackman has ended his disastrous short bet against Herbalife". No one seems to be capable of doing common sense math - his fund had ~20 Bil AUM at the time he shorted and 1 bil bet was closed anywhere around breakeven to ~26% loss. Which makes it ~1.3% loss. This is all based on quick google search - position opened in 2012 and closed mid 2017.
Don't let shiny objects foul you guys
Val
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He mentioned in his tweet, he only lost profits from the last 7 days.
It doesn't mean anything in regards to his % loss or risk.
Value of $ for a person is relative to their net worth. Especially for a trader.
Same goes for money made.
It is way more impressive if a guy makes 300$ keeping his risk <1% of account value, then someone who posts about making 300k while risking all his money at once. Exactly same for loosing. It's all relative.
Besides that, single trades in general are meaningless. They don't have any statistical significance.
Look, I get it, it is fun to watch someone loosing a shitload of money in a day. What I am really trying to say is - it is way more enjoyable to watch someone loosing ALL THEY HAVE and then some in one day. Something like that