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

  • 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)

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OutThere
Jun 14, 2020 5:11pm
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He must have not heard of the 'bankruptcy' option...or maybe they just shoot you there when you are insolvent????
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Breza
Jun 14, 2020 5:19pm
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Here at FF it should be constantly repeated, especially for beginners...

always choose, without exception, a broker with Negative Balance Protection !
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JustBreathe
Jun 14, 2020 5:48pm
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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.
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Not-KPMG
Jun 14, 2020 7:48pm
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And they lie and censor honest opinions.

FF is a disappointing thing
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traider
Jun 14, 2020 9:27pm
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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.
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TommyBoi
Oct 11, 2023 7:32am
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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?
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TommyBoi
Oct 11, 2023 7:33am
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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.
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Not-KPMG
Jun 14, 2020 5:11pm
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In civilization like Europe we have NEGATIVE PROTECTION.

Duhhhh....

And health insurance

Duhhhh
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Tony112
Jun 15, 2020 12:52am
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what's up with the opec preachers that insulted me last week, where ya at now? in front of your calendar?
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Mingary
Jun 15, 2020 1:16am — Edited
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Just the tip of the "iceberg of misery"..
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Bicarus
Jun 15, 2020 1:37am
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like how all the warren buffets, masters of risk management, gurus are appearing on the comment board.
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traider
Jun 14, 2020 9:28pm
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Quoting Not-KPMG
And they lie and censor honest opinions. FF is a disappointing thing
Do you know what the not noise looks like?
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TheMaxx
Jun 15, 2020 3:19am
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Such a senseless waste of a life.
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YYZ
Jun 14, 2020 11:52pm
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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.
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4for4
Jun 14, 2020 5:00pm
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Don’t chase a running trend, but prepare to play its trend-reversal level ...
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Trader#42C9
Jun 15, 2020 4:28am
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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 .
Reply

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