PebHmong Discussion Forum
Life & Living => Money & Investment => Topic started by: theking on June 15, 2020, 03:28:22 PM
-
..so he shouldn't get involve until he gains more knowledge but too late now.. :'(:
Heartbreaking story of rookie trader who racked up $700K in debt: ‘Finance isn’t worth losing your life over’
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, +2.12% thread in which he shared a family member’s tragic foray into trading.
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.
“Alex’s” story serves as a reminder that trading stocks can have devastating real-life consequences. This has perhaps never been more true than when it comes to using borrowed cash to leverage positions in a stock market where the Dow Jones Industrial Average DJIA, +0.61% can be down almost 2,000 points one session, then rebound nearly 500 points the next.
(https://ei.marketwatch.com/Multimedia/2020/06/14/Photos/ZH/MW-II543_tradin_20200614164017_ZH.jpg?uuid=41ffa676-ae7f-11ea-a4a7-9c8e992d421e)
-
lots of glitches at robinhood
IT'S FREE
so of course, there going be glitches
the kid shouldn't have access to margin account (buy stock with money you don't have)
don't kill yourself over money O0
-
Even I wouldn't dare touch margin. If I don't have the money, I don't play.
He should've just filed bankruptcy and/or serve jail time. Nothing worth dying for.
I would not advise anyone I know to trade stocks, let alone options.
Just invest in mutual funds, etf or individual stocks, set and forget it.
Reset allocation once or twice a year.
If they want to swing stocks, get another account that you're willing to lose on, but no margin.
-
Even I wouldn't dare touch margin. If I don't have the money, I don't play.
He should've just filed bankruptcy and/or serve jail time. Nothing worth dying for.
I would not advise anyone I know to trade stocks, let alone options.
Just invest in mutual funds, etf or individual stocks, set and forget it.
Reset allocation once or twice a year.
If they want to swing stocks, get another account that you're willing to lose on, but no margin.
I personally used ROBINHOOD
it is really easy
You are pretty much just swiping, kinda like tinder
The problem: IT IS REALLY EASY TO GET MARGIN ACCOUNT AND OPTIONS
NO CHECK AND BALANCE @ ROBINHOOD
YOU LEVERAGE TILL YOUR HEART CONTENT
its like a video game
-
No roth ira accounting
-
its like a video game
except you die in real life. no extra lives. lol
i used RH when it first came out. it's a cool app, but i don't use it anymore.
-
except you die in real life. no extra lives. lol
;D
-
But I mean really, there are some that have no business in stocks..Sad but true..
-
except you die in real life. no extra lives. lol
i used RH when it first came out. it's a cool app, but i don't use it anymore.
Lol
Too easy to swipe
Not me, but other user get glitches where they can’t sell
And lost tons of money
ITS FREE, of course there going be bug
Hahaha
-
ROBINHOOD NEED TO STOP GIVING MARGIN ACCOUNT TO FOLK WHO DON’t have money
Lol
No wonder ROBINHOOD IS ROBINHOOD
GIVING OUT MONEY to the poor
-
-$700k is a big hole to climb out off
Sell your half million house, $100k car,
Might be homeless and living on bread+ketchup
Sell your kids and wife