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Trader Crushed by Soaring Biotech, Tries to Crowdfund $106K Margin Call


  • Insane indeed. What a moron.
  • This is one of several reasons why Old_Skeet does not short individual stocks. However, in the past, I have used the etf SH to short the S&P 500 Index because it is non leveraged.
  • he closed at 18+ and the stock now is trading @10+. he could have halved his loss if he hadn't panic. new traders usually lose money by being long stocks - at least i did - and then selling at the unfortunate time. this way one can't lose more than the value of their account. shorting stocks is the whole new ball game, which he didn't understand. very expensive mistake which might even cost him his marriage.
  • edited November 2015
    I just have issue with calling him "Trader". I mean everyone is a "Trader" then, is it? An "Investor" also loses money. OR is he a "Trader" because an "Investor" wouldn't do anything as dumb (or is it creative?) like begging in high-tech fashion. I would actually give him $10 as charity instead of $1 he is asking. The only reason I don't is because he is saying, he will return back to trading. No sirree, pledge you will only invest in index funds monthly or you don't get a dime from me.
  • He may soon need money for a divorce attorney, as well!
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