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  • Heartbreaking story of rookie trader who racked up $700K in debt: ‘Finance isn’t worth losing your life over’

    From marketwatch.com

    The stock market, particularly in its current state, is no place for amateurs. Sullimar Capital analyst Bill Brewster delivered that message to followers in a heartbreaking Twitter TWTR, +1.12% thread in which he shared a family member’s tragic foray into trading. Here’s the full story: tweets Robinhood declined to share any details of the trading account and how such outsized losses piled up, but did say that the company was aware of the situation. “All of us at Robinhood are deeply saddened to hear this terrible news and we reached out to share our condolences with the family,” the spokesperson said. ... (full story)

  • #1
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  • Jun 14, 2020 6:00pm Jun 14, 2020 6:00pm
Don’t chase a running trend, but prepare to play its trend-reversal level ...
Market is not random but unpredictable
  • #2
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  • Jun 14, 2020 6:11pm Jun 14, 2020 6:11pm
He must have not heard of the 'bankruptcy' option...or maybe they just shoot you there when you are insolvent????
  • #3
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  • Jun 14, 2020 6:11pm Jun 14, 2020 6:11pm
In civilization like Europe we have NEGATIVE PROTECTION.

Duhhhh....

And health insurance

Duhhhh
Beware of robber banks (RB), bad advisors.
  • #4
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  • Jun 14, 2020 6:19pm Jun 14, 2020 6:19pm
Here at FF it should be constantly repeated, especially for beginners...

always choose, without exception, a broker with Negative Balance Protection !
  • #5
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  • Jun 14, 2020 6:48pm Jun 14, 2020 6:48pm
Quoting Breza
Here at FF it should be constantly repeated, especially for beginners... always choose, without exception, a broker with Negative Balance Protection !
FF is a business that cares about growth and bottom line. As long as people visit and chat here the $ keeps coming. So many times the news are not reported or very late and/or not accurate at times. This is just a business not a happy go lucky supportive community overall. There are some decent pockets but mostly its noise.

A lot of people suggested great improvements which fall on deaf ears. Treat this site for what it is - a free news site that may or may not be accurate.
  • #6
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  • Jun 14, 2020 8:48pm Jun 14, 2020 8:48pm
And they lie and censor honest opinions.

FF is a disappointing thing
Beware of robber banks (RB), bad advisors.
  • #7
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  • Jun 14, 2020 10:27pm Jun 14, 2020 10:27pm
Quoting Breza
Here at FF it should be constantly repeated, especially for beginners... always choose, without exception, a broker with Negative Balance Protection !
If you need protection, you are in the wrong game. The markets are pure capitalism and a gladiators arena.
The road to pipland is arduous and fraught with challenge.
  • #8
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  • Jun 14, 2020 10:28pm Jun 14, 2020 10:28pm
Quoting Not-KPMG
And they lie and censor honest opinions. FF is a disappointing thing
Do you know what the not noise looks like?
The road to pipland is arduous and fraught with challenge.
  • #9
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  • Jun 15, 2020 12:52am Jun 15, 2020 12:52am
Quoting traider
{quote} If you need protection, you are in the wrong game. The markets are pure capitalism and a gladiators arena.
No. Trading is business of those who can move price . retail traders are part of that business, exactly like any other business.Traders willingly trade...there is no gladiators.
  • #10
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  • Jun 15, 2020 1:52am Jun 15, 2020 1:52am
what's up with the opec preachers that insulted me last week, where ya at now? in front of your calendar?
Invest in alarm clocks
  • #11
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  • Edited 6:19am Jun 15, 2020 2:16am | Edited 6:19am
Just the tip of the "iceberg of misery"..
  • #12
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  • Jun 15, 2020 2:37am Jun 15, 2020 2:37am
like how all the warren buffets, masters of risk management, gurus are appearing on the comment board.
  • #13
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  • Jun 15, 2020 4:19am Jun 15, 2020 4:19am
Such a senseless waste of a life.
  • #14
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  • Jun 15, 2020 5:28am Jun 15, 2020 5:28am
  •  Trader#42C9
  • | Status: Unregistered Trader
Maybe the poor guy didn't use stops . Though the details being lacking its hard to say . I find it difficult to imagine robinhood know what they are doing .
  • #15
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  • Oct 11, 2023 8:32am Oct 11, 2023 8:32am
Quoting Not-KPMG
In civilization like Europe we have NEGATIVE PROTECTION. Duhhhh.... And health insurance Duhhhh
However isn't the negative balance protection is depend on cases, which the brokers can reserve the right to grant you?
  • #16
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  • Oct 11, 2023 8:33am Oct 11, 2023 8:33am
Quoting Guest
Maybe the poor guy didn't use stops . Though the details being lacking its hard to say . I find it difficult to imagine robinhood know what they are doing .
In some extreme situations, sl just couldn't be triggered as the retail trader wants.
  • New Comment
  •  Trader#C849
  • | Status: Unregistered Trader
Create Account
  • Story Stats
  • Posted: Jun 14, 2020 5:30pm
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 16  /  Views: 17,316