{"id":3730,"date":"2016-02-23T23:33:47","date_gmt":"2016-02-23T21:33:47","guid":{"rendered":"http:\/\/bestinsurance.gr\/a1\/?p=3730"},"modified":"2016-02-23T23:33:47","modified_gmt":"2016-02-23T21:33:47","slug":"suicidal-trader-loses-everything-launches-online-begging-site","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/3730","title":{"rendered":"&#8220;Suicidal&#8221; Trader Loses Everything, Launches Online Begging Site"},"content":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F3730\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"3730\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F3730&text=%26%238220%3BSuicidal%26%238221%3B+Trader+Loses+Everything%2C+Launches+Online+Begging+Site\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"3730\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>&#8220;Suicidal&#8221; Trader Loses Everything, Launches Online Begging Site.<br \/>\nBack in November, when Martin Shkreli had just unleashed his ill-fated manipulation of Kalobios stock, one trader got crushed. As we reported then, one &#8220;E-trader&#8221;, Joe Campbell, decided to go $35,000 short KBIO the night before the massive ramp in the stock following the Shkreli press release and ended up owing ETFC &#8220;a wonderful $106K&#8221; margin call.<\/p>\n<p>His response was to launch a GoFundMe website opening up his plight to generous online donors. Surprisingly, many appeared on&nbsp; short notice, providing several thousand in online donations to help him fill his margin hole.<\/p>\n<p>Now another trader finds himself in a comparable predicament, this time it is 24 year old Matt Reed, who yesterday suffered a massive loss after he decided to bet it all on FitBit calls (on margin) and lost everything, as the following Fidelity screengrab from his P&#038;L indicates:<\/p>\n<p><a href=\"http:\/\/bestinsurance.gr\/a1\/wp-content\/uploads\/2016\/02\/trader-lost-it-all.png.png\"><img decoding=\"async\" title=\"trader lost it all.png\" class=\"alignnone size-full\"  alt=\"image\" src=\"http:\/\/bestinsurance.gr\/a1\/wp-content\/uploads\/2016\/02\/trader-lost-it-all.png.png\" \/><\/a><\/p>\n<p>[expander_maker more=&#8221;\u0394\u03b9\u03b1\u03b2\u03ac\u03c3\u03c4\u03b5 \u03c0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03b1&#8221; less=&#8221;\u0394\u03b9\u03b1\u03b2\u03ac\u03c3\u03c4\u03b5 \u03bb\u03b9\u03b3\u03cc\u03c4\u03b5\u03c1\u03b1&#8221;]Here is his narrative as documented last night on the momentum trading website StockTwits:<\/p>\n<p>I&#8217;m down 200k aka basically everything and pretty much suicidal right now<br \/>\nkept buying on margins as it went up. Held too long as it went down<br \/>\nstarted small then after it did well I took figured why not put more in. Got behind kept trying to break even. Never did<br \/>\nPut just about what I had left in 15.5 calls here&#8230;my life is totally fucked right no; what I have left is fit 15.5 calls which will most likely be worthless on the open tomorrow<br \/>\nwasn&#8217;t hoping for a huge return just quick return to get lost money back but yes I learned the hard way about how they&#8217;re toxic<br \/>\nI went wrong by using margins and I don&#8217;t think I&#8217;ll be back in it to bounce back<br \/>\nI was doing great which is how I got onto margin. Got greedy but then January came and it got bad fast<br \/>\nMay seem like a joke but I&#8217;m fucked<br \/>\nLast hope was calls so I doubt they&#8217;ll be worth anything by Friday<br \/>\nWorked 4 jobs the past few year to save up. Sucks seeing my life savings disappear in a little over a month<br \/>\nThinking what I was at in December vs now just makes me sick, and I&#8217;m still working multiple jobs. As you can see this isn&#8217;t my calling<br \/>\nit was purely my fault for being too risky with margins and trying to quick flip during a bad month<br \/>\nThis was a hard lesson to learn but must be a sign that I should never put my money into the stocks<br \/>\nI&#8217;d say learning about margins was the worst possible thing to ever happen to me. If I didn&#8217;t then I&#8217;d be up 50k right now<br \/>\nThe bottom line:<\/p>\n<p>I&#8217;ve had a realized loss of 180k this year.<br \/>\nno do over for me&#8230;I&#8217;m outta the stocks. Clearly not for me<br \/>\nSo what did he do? Same thing as Campbell: a last ditch effort of generating some cash through online begging, in this case another GoFundMe website titled appropriately enough &#8220;Stock ruined my life.&#8221; This is what he said:<\/p>\n<p>Hello everyone this is a story a lot of you may have already heard about. I&#8217;ve recently lost all my money in the stock market. I had a good ride so I put everything I had in it. After a bad 2016 start I&#8217;ve ended up losing everything I put in. I&#8217;m trying to get some money back because what I had lost was money for a house down payment and a ring for my girlfriend. Unfortunately that&#8217;s all gone now.<br \/>\nAs he himself admits, while Campbell may have had a novelty first mover advantage, Reed is going to have a steep uphill climb if this is indeed his final option:<\/p>\n<p>Hard to take someone setting up a gofundme seriously&#8230;hard for me to accept all this though<br \/>\nI&#8217;ve been praying yelling crying. Every emotion but happiness has been felt the past month or so<br \/>\nGood luck. For now, however, online begging does not seem to be the best recourse for all those who chased momentum in a rigged market, and found themselves on the receiving end of a massive margin call. As of this moment, nobody has donated a single penny to the 24 year old now former trader.[\/expander_maker]<\/p>\n<p>Source: <a href=\"http:\/\/www.zerohedge.com\/news\/2016-02-23\/suicidal-trader-loses-everything-launches-online-begging-site\">link<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F3730\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"3730\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F3730&text=%26%238220%3BSuicidal%26%238221%3B+Trader+Loses+Everything%2C+Launches+Online+Begging+Site\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"3730\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>&#8220;Suicidal&#8221; Trader Loses Everything, Launches Online Begging Site. Back in November, when Martin Shkreli had just unleashed his ill-fated manipulation of Kalobios stock, one trader got crushed. As we reported then, one &#8220;E-trader&#8221;, Joe Campbell, decided to go $35,000 short KBIO the night before the massive ramp in the stock following the Shkreli press release<\/p>\n","protected":false},"author":1,"featured_media":3729,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-3730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/3730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=3730"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/3730\/revisions"}],"predecessor-version":[{"id":3731,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/3730\/revisions\/3731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/3729"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=3730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=3730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=3730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}