Topic: Young trader dies by suicide after thinking he racked up big losses on Robinhood (Read 695 times)
September 06, 2020, 06:54:34 PM
This is quite sad, playing with big amounts of money is no good especially when you dont really know what you are doing. he lost sooo much its not even funny, i wouldnt be surprised if it was life savings he lost..
July 28, 2020, 04:20:35 PM
That's Heart broken.
He did wrong cause suicide is not a solution to solve any problem. As a twenty year old boy, he had a lots of money.so It was really painful for him, losing such amount of money but he should understand that, money is not valueable more than life
He did wrong cause suicide is not a solution to solve any problem. As a twenty year old boy, he had a lots of money.so It was really painful for him, losing such amount of money but he should understand that, money is not valueable more than life
August 05, 2020, 05:58:41 AM
That's Heart broken.
He did wrong cause suicide is not a solution to solve any problem. As a twenty year old boy, he had a lots of money.so It was really painful for him, losing such amount of money but he should understand that, money is not valueable more than life
Yeah, he doesn't have to do that but he's in the state of mind that doesn't know what to do and just to end his life.He did wrong cause suicide is not a solution to solve any problem. As a twenty year old boy, he had a lots of money.so It was really painful for him, losing such amount of money but he should understand that, money is not valueable more than life
But if you'll get back to read the whole story, it was said that it's the exchange's fault.
August 04, 2020, 04:37:30 AM
That's Heart broken.
He did wrong cause suicide is not a solution to solve any problem. As a twenty year old boy, he had a lots of money.so It was really painful for him, losing such amount of money but he should understand that, money is not valueable more than life
He did wrong cause suicide is not a solution to solve any problem. As a twenty year old boy, he had a lots of money.so It was really painful for him, losing such amount of money but he should understand that, money is not valueable more than life
July 29, 2020, 02:04:04 AM
We can't have a perfect life, there will be up and downs for sure so all we need to do is accept what life gives to us and tart living a better life with it.
Young trader might used his parents money that is why he don't know how to earn them back which is the mistake of their parent for giving huge responsibility without having any experience.
actually post above you mate explains it all,this same question i put on top but i am wrong i guess,Young trader might used his parents money that is why he don't know how to earn them back which is the mistake of their parent for giving huge responsibility without having any experience.
the only thing that matters to me(in respect to the dead boy) is how did he managed to have that Huge leverage thinking that He is just a student and has no work at all?
im sure there is something behind this thats why he needs to cut off His life in this one.
I will never Let my children invest here what they cannot afford to lose since all their allowances is coming from us until now that they are in college like the Victim.
I think it was how Robinhood portrayed the figures which were "underlying" or behind the scenes. Since I'm on mobile, I can't quote from the article I posted before, but from what I read, they were meant to be negative until the trades on the other end were processed.
So he had high leverage with his 5-figure balance and naturally that gave him some huge purchasing power. For instance, a 100:1 leverage means he gets to control $100,000 worth of stocks with only $1,000.
As I have traded before, brokers usually allow users to set the leverage up to 1000. But by default, we only see the basic readings such as tradeable margin, free margin and balance.
About investing, its not wrong to expose them so they could judge by themselves because its a very good experience (minus the losing). Like how I was curious about trading almost a decade ago and eventually treated it as some part-time activity.
July 24, 2020, 04:43:20 AM
Golden rule of trading: calculate your risk and only trade what you're allowed to lose
July 24, 2020, 04:21:33 AM
This is what will happen if we don't have knowledge in cryptocurrencies, we think that we can be rich by investing bitcoin or altcoins in a short time but in reality no. Too bad that he committed suicide.
Such a sad story. I hope other people will learn from this.
Don't gamble or invest into high risk assets with money you still need. There are so many recommendations on this forum how to deal with losses. If you find yourself too emotionally attached to your trades, you need to take a step back and evaluate your positions again. Getting into a depression because of bad luck with your investments is fairly common.
There is no shame in asking for help and everything can be fixed in the long run.
July 23, 2020, 11:02:36 PM
People should understand what they are doing with money. I dont think that there are any problems with site. Main problem here is this young trader
No mate, the problem is the exchange. Read the reply of UserU.I think it was from a miscalculated leverage Robinhood displayed. Not that he owed that amount.
https://edition.cnn.com/2020/06/19/business/robinhood-suicide-alex-kearns/index.html
https://edition.cnn.com/2020/06/19/business/robinhood-suicide-alex-kearns/index.html
Quote
Although Brewster initially believed Robinhood had improperly granted Kearns vast amounts of leverage to trade with, he no longer believes that was the problem. Twitter users who saw Brewster's stream of tweets alerted him that options traders on Robinhood sometimes see a negative cash balance until the other half of their trades are executed.
In other words, Kearns did not actually owe $730,000. But he was apparently led to believe he did.
In other words, Kearns did not actually owe $730,000. But he was apparently led to believe he did.
Perhaps you're right and Robinhood couldn't do anything about his death anyway.
But I hope they could clear their messages or whatever, because as we've witnessed - the consequences of misunderstanding could be lethal
They can't do anything but with those quotes, it seems to be that it's their fault which led to this miserable loss. But I hope they could clear their messages or whatever, because as we've witnessed - the consequences of misunderstanding could be lethal
July 23, 2020, 09:30:47 PM
People should understand what they are doing with money. I dont think that there are any problems with site. Main problem here is this young trader
Perhaps you're right and Robinhood couldn't do anything about his death anyway.But I hope they could clear their messages or whatever, because as we've witnessed - the consequences of misunderstanding could be lethal
July 23, 2020, 09:02:48 AM
Why risk if you arent' ready for consequences
P.S by the way where did he take those money from?
P.S by the way where did he take those money from?
I think it was from a miscalculated leverage Robinhood displayed. Not that he owed that amount.
https://edition.cnn.com/2020/06/19/business/robinhood-suicide-alex-kearns/index.html
Quote
Although Brewster initially believed Robinhood had improperly granted Kearns vast amounts of leverage to trade with, he no longer believes that was the problem. Twitter users who saw Brewster's stream of tweets alerted him that options traders on Robinhood sometimes see a negative cash balance until the other half of their trades are executed.
In other words, Kearns did not actually owe $730,000. But he was apparently led to believe he did.
In other words, Kearns did not actually owe $730,000. But he was apparently led to believe he did.
Anyway thats so messed up
July 23, 2020, 06:12:03 AM
We can't have a perfect life, there will be up and downs for sure so all we need to do is accept what life gives to us and tart living a better life with it.
Young trader might used his parents money that is why he don't know how to earn them back which is the mistake of their parent for giving huge responsibility without having any experience.
Young trader might used his parents money that is why he don't know how to earn them back which is the mistake of their parent for giving huge responsibility without having any experience.
July 03, 2020, 05:17:09 AM
the only thing that matters to me(in respect to the dead boy) is how did he managed to have that Huge leverage thinking that He is just a student and has no work at all?
im sure there is something behind this thats why he needs to cut off His life in this one.
I will never Let my children invest here what they cannot afford to lose since all their allowances is coming from us until now that they are in college like the Victim.
I think it was how Robinhood portrayed the figures which were "underlying" or behind the scenes. Since I'm on mobile, I can't quote from the article I posted before, but from what I read, they were meant to be negative until the trades on the other end were processed.
So he had high leverage with his 5-figure balance and naturally that gave him some huge purchasing power. For instance, a 100:1 leverage means he gets to control $100,000 worth of stocks with only $1,000.
As I have traded before, brokers usually allow users to set the leverage up to 1000. But by default, we only see the basic readings such as tradeable margin, free margin and balance.
About investing, its not wrong to expose them so they could judge by themselves because its a very good experience (minus the losing). Like how I was curious about trading almost a decade ago and eventually treated it as some part-time activity.
July 02, 2020, 02:22:07 AM
This was an extremely sad story. Investors really should need to display a certain level of understanding before being granted the ability to use leverage. Financial literacy is not as widespread as many seem to think. I’m constantly amazed at the lack of financial intelligence I see even here on these forums from self-proclaimed experts that couldn’t get an entry level finance job giving others advice.
July 01, 2020, 09:02:38 PM
We've heard many stories about traders committing suicides in the past for losing his clients money. Its a tremendous pressure from clients when they ask about thier money and so they hang. But for a 20 year old, he should just be partying and enjoy youth.
As for OP, did you try to lure us to join your reddit sub for this boy's death?
Why risk if you arent' ready for consequences
P.S by the way where did he take those money from?
P.S by the way where did he take those money from?
I think it was from a miscalculated leverage Robinhood displayed. Not that he owed that amount.
https://edition.cnn.com/2020/06/19/business/robinhood-suicide-alex-kearns/index.html
Quote
Although Brewster initially believed Robinhood had improperly granted Kearns vast amounts of leverage to trade with, he no longer believes that was the problem. Twitter users who saw Brewster's stream of tweets alerted him that options traders on Robinhood sometimes see a negative cash balance until the other half of their trades are executed.
In other words, Kearns did not actually owe $730,000. But he was apparently led to believe he did.
In other words, Kearns did not actually owe $730,000. But he was apparently led to believe he did.
July 01, 2020, 10:17:11 AM
We've heard many stories about traders committing suicides in the past for losing his clients money. Its a tremendous pressure from clients when they ask about thier money and so they hang. But for a 20 year old, he should just be partying and enjoy youth.
As for OP, did you try to lure us to join your reddit sub for this boy's death?
July 01, 2020, 08:28:08 AM
He is so young,i feel sorry for His family and hope they will find peace from this.
Maybe this serves us a lesson to not just jump into conclusion always,instead make sure every thing before deciding.
Indeed. Even if he didn't commit suicide, that figure alone is enough to traumatize him for the rest of his life.
Come to think of it, even our retirement money might not save us.
im sure there is something behind this thats why he needs to cut off His life in this one.
I will never Let my children invest here what they cannot afford to lose since all their allowances is coming from us until now that they are in college like the Victim.
July 01, 2020, 07:12:18 AM
While some people get richer thanks to Bitcoin or cryptocurrency in general, there are many unfortunate cases. In it, a 20-year-old young man named Alex Kearns committed suicide because he thought he suffered heavy losses when trading on Robinhood.
Less than 24 hours after Alex checked his account at the Robinhood trading application, he found himself at a loss of $ 730,165. Robinhood is a popular cryptocurrency and stock trading application. From 2016 to the present, Robinhood has owned from 1 million users to 10 million users, with loyal followers on social media.
But, Alex seems to have misunderstood Robinhood’s financial statements. On the little yellow note that Alex left on his bedroom door was an ominous message, saying to turn on the computer. Then a four-letter letter appeared on the screen: “If you’re reading this, then I am dead.”
Source: https://www.reddit.com/r/azcoinnews/comments/hcebsa/a_20yearold_trader_who_lost_hundreds_of_thousands/
Less than 24 hours after Alex checked his account at the Robinhood trading application, he found himself at a loss of $ 730,165. Robinhood is a popular cryptocurrency and stock trading application. From 2016 to the present, Robinhood has owned from 1 million users to 10 million users, with loyal followers on social media.
But, Alex seems to have misunderstood Robinhood’s financial statements. On the little yellow note that Alex left on his bedroom door was an ominous message, saying to turn on the computer. Then a four-letter letter appeared on the screen: “If you’re reading this, then I am dead.”
Source: https://www.reddit.com/r/azcoinnews/comments/hcebsa/a_20yearold_trader_who_lost_hundreds_of_thousands/
really terrible. personally, you need to have a strong and tough mind when it comes to this industry. my heart goes out to the family.
July 01, 2020, 05:13:30 AM
He is so young,i feel sorry for His family and hope they will find peace from this.
Maybe this serves us a lesson to not just jump into conclusion always,instead make sure every thing before deciding.
Indeed. Even if he didn't commit suicide, that figure alone is enough to traumatize him for the rest of his life.
Come to think of it, even our retirement money might not save us.
July 01, 2020, 04:03:20 AM
While some people get richer thanks to Bitcoin or cryptocurrency in general, there are many unfortunate cases. In it, a 20-year-old young man named Alex Kearns committed suicide because he thought he suffered heavy losses when trading on Robinhood.
Less than 24 hours after Alex checked his account at the Robinhood trading application, he found himself at a loss of $ 730,165. Robinhood is a popular cryptocurrency and stock trading application. From 2016 to the present, Robinhood has owned from 1 million users to 10 million users, with loyal followers on social media.
But, Alex seems to have misunderstood Robinhood’s financial statements. On the little yellow note that Alex left on his bedroom door was an ominous message, saying to turn on the computer. Then a four-letter letter appeared on the screen: “If you’re reading this, then I am dead.”
Source: https://www.reddit.com/r/azcoinnews/comments/hcebsa/a_20yearold_trader_who_lost_hundreds_of_thousands/
Less than 24 hours after Alex checked his account at the Robinhood trading application, he found himself at a loss of $ 730,165. Robinhood is a popular cryptocurrency and stock trading application. From 2016 to the present, Robinhood has owned from 1 million users to 10 million users, with loyal followers on social media.
But, Alex seems to have misunderstood Robinhood’s financial statements. On the little yellow note that Alex left on his bedroom door was an ominous message, saying to turn on the computer. Then a four-letter letter appeared on the screen: “If you’re reading this, then I am dead.”
Source: https://www.reddit.com/r/azcoinnews/comments/hcebsa/a_20yearold_trader_who_lost_hundreds_of_thousands/
As a general rule, invest only what you can afford to lose also. Win or lose, you learn from your experience and basically try to recoup your losses by risking again, and hopefully, you've learned enough to win more when you invest again in the future.
Take note, we're talking about risks when investing your money, in order to earn more. And we're not talking about risking your life away by doing suicide instead (it's not the intention nor the end goal when investing your money).
June 30, 2020, 07:33:11 AM
While some people get richer thanks to Bitcoin or cryptocurrency in general, there are many unfortunate cases. In it, a 20-year-old young man named Alex Kearns committed suicide because he thought he suffered heavy losses when trading on Robinhood.
Less than 24 hours after Alex checked his account at the Robinhood trading application, he found himself at a loss of $ 730,165. Robinhood is a popular cryptocurrency and stock trading application. From 2016 to the present, Robinhood has owned from 1 million users to 10 million users, with loyal followers on social media.
But, Alex seems to have misunderstood Robinhood’s financial statements. On the little yellow note that Alex left on his bedroom door was an ominous message, saying to turn on the computer. Then a four-letter letter appeared on the screen: “If you’re reading this, then I am dead.”
Source: https://www.reddit.com/r/azcoinnews/comments/hcebsa/a_20yearold_trader_who_lost_hundreds_of_thousands/
He is so young,i feel sorry for His family and hope they will find peace from this.Less than 24 hours after Alex checked his account at the Robinhood trading application, he found himself at a loss of $ 730,165. Robinhood is a popular cryptocurrency and stock trading application. From 2016 to the present, Robinhood has owned from 1 million users to 10 million users, with loyal followers on social media.
But, Alex seems to have misunderstood Robinhood’s financial statements. On the little yellow note that Alex left on his bedroom door was an ominous message, saying to turn on the computer. Then a four-letter letter appeared on the screen: “If you’re reading this, then I am dead.”
Source: https://www.reddit.com/r/azcoinnews/comments/hcebsa/a_20yearold_trader_who_lost_hundreds_of_thousands/
Maybe this serves us a lesson to not just jump into conclusion always,instead make sure every thing before deciding.
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