Topic: Young trader dies by suicide after thinking he racked up big losses on Robinhood - page 2. (Read 695 times)
June 21, 2020, 08:09:26 AM
The first step is to gain a lot of knowledge in order to invest your money in a gambling site. You can't always make a profit, you have to keep in mind the direction of the loss all the time. So I shouldn't gamble with money that would get me lost. I think it's a good lesson. The crypto market will teach us to invest very thoughtfully. And those of us who are involved in crypto currencies have to accept losses as well as gains. After all, the value of life is much greater than money.
June 21, 2020, 05:55:27 AM
It is sad and it doesn't have to go up to that point.
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
This means that due to Robinhood's inaccuracy, led to this? 
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.
June 21, 2020, 05:05:40 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.
June 21, 2020, 04:17:06 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/
That is what happen if the trader is not sleeping and just keeping His eyes in Monitor lol.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/
Trading must not be our life instead we have to make some things outside of this for not to become like this story.
June 21, 2020, 03:10:40 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?
June 20, 2020, 10:40:23 PM
I think young people's emotions work a little more This is why they do not hesitate to commit heinous acts like suicide out of frustration There is nothing to be frustrated about doing business. Success is possible only by reducing the amount of damage and trying to recover from it No one can ever learn anything in one day It is very easy to make a profit as there are risks in the trade So you have to try to learn by analyzing different places.
June 20, 2020, 04:52:58 PM
This is a sad story of a young trader. He might not understand completely the risk of what he do and never been prepared for the worse outcome thats why this happened. Its a huge money as well and for such young age he is not an average guy who is struggling to have a money like that. Well its a lesson learned to those traders who want to try trading, its risky and somehow similar to gambling so make sure that you're aware of the consequences.
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June 20, 2020, 01:31:22 PM
First of all, I want to say that "suicide is not a solution". if you lose once just try again, hope you will gain. we all know that all businesses have risk, nothing can be done without taking risk or challenge. If you lose and get frustrated, then business/crypto trading is not for you. because as a trader I know that there will be many remarkable ups and downs while trading, and I adjust my mental state based on that. As there are good times in people's lives, there will be bad times too. we have to be tough and deal with bad times. we have to work hard to bring back the good days.
June 20, 2020, 12:39:13 PM
This is very terrible and sad at same time. For him to have this kind of amount at his age he must be very lucky. His cousin or whoever it is that posted the article sure must have told him the risks about this space. Alex shouldn't have been so quick to act on committing suicide. It's now two loses, his investment and his life.
June 20, 2020, 11:40:44 AM
I think trading is not for everyone, you need to have knowledge and experience about the market. I have seen many new trader loosing their money. Good lesson for new trader.
June 20, 2020, 10:33:24 AM
It's very sad that this person died... Of course, losing a lot of money must be tough, but from any situation there's a way out, and it's important not to think that money is everything. He was very young and, I guess, impulsive. Maybe young people should not have such huge amounts of money at their disposal... I'm older than him, and not only I've never had anything remotely close to this amount of money, I don't even know anyone who does! Then again, after reading the article it seems that the story is not that simple, and he somehow lost way more money than he owned, I think. I've never used Robinhood, so I don't understand how this works... Something's not right about this story or the way it's told.
Edit: acroman08 shared a link to Forbes, and the explanation there is quite good. Now I understand at least some things. One of them is that such dangerous form of trading should either be completely illegal or have huge warnings everywhere so that only people who know the risks join.
Edit: acroman08 shared a link to Forbes, and the explanation there is quite good. Now I understand at least some things. One of them is that such dangerous form of trading should either be completely illegal or have huge warnings everywhere so that only people who know the risks join.
June 20, 2020, 10:21:03 AM
That's terrible,
He's too young and what disappointed me as he took his own life so easily just because he had big losses in trading. He should have think deeply about how his family and friends would think about what he did, in this kind of situation, he should have realized that taking his own life will not bring his losses back. He just wasted his life.
He's too young and what disappointed me as he took his own life so easily just because he had big losses in trading. He should have think deeply about how his family and friends would think about what he did, in this kind of situation, he should have realized that taking his own life will not bring his losses back. He just wasted his life.
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June 20, 2020, 10:11:21 AM
But, Alex seems to have misunderstood Robinhood’s financial statements.
I'm actually confused about this statement written on the article. I read the whole content and I can't the reason why he misunderstood the financial statement of Robin Hood? There is no statement there that he didn't loss the money so he really did loss it all. Enlighten me if I'm missing something.
The guy is leveraging too much and didn't do a proper risk management. Considering the funds he hold. That 730k will not burn if he set stop loss to minimize the risk. IMHO, x5 is the maximum leverage for a safe trading more than that is a pure gambling. Anyway condolence to his family.
June 20, 2020, 09:56:27 AM
I feel embarrassed and disappointed during the time I lose in trading but it never brings me into a point thinking about suicide. I don't how this young boy thinks about it. And I don't want to read any news similar to this scenario.
That is how important that every time we make a deal for a certain thing we should have to know what it is and what should we get later. The risk that it involves in trading ain't that something enough to think about negative and committing suicide for our life isn't worthy of that. We valued our life more than anything, more than about losing, and more than about money. I believe we all gone sooner but not in that way.
That is how important that every time we make a deal for a certain thing we should have to know what it is and what should we get later. The risk that it involves in trading ain't that something enough to think about negative and committing suicide for our life isn't worthy of that. We valued our life more than anything, more than about losing, and more than about money. I believe we all gone sooner but not in that way.
June 20, 2020, 09:33:07 AM
Every inexperienced trader should know that if you don't have enough experience about the market, you can't swim in the wavy sea
June 20, 2020, 08:49:27 AM
That is a really sad story, this should be a lesson for every trader out there, you should know the risk when you do trading, you should also accept the fact that you may lose your money when you do it so you won't end up like the man in the story. I think there are also other reasons why he did the suicide, losing a big money is not enough to kill your self, there are so many ways for you to earn again that kind of money, your life is much important than your money. Trading is somehow related to gambling which may cause you so bad, there are so many lives that get broken because of gambling as well as the trading.
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
Being a beginner in trading is really hard, you will face so many struggles and you may also lose your money, if you know that you are losing much of your money then you should think that its time to stop. 
June 20, 2020, 08:01:47 AM
I really wish I didn't have to read stories like this, but I also hope this serves as a reminder to people that there are risks with trading that are very poorly understood by most people. Companies promise the world, and owners and developers insist it's a skill-based activity but really, it encourages risky behaviour and in most aspects because of the lack of education and awareness, is treated like gambling by most traders.
Nothing wrong with gambling, but you have to understand what you're getting into -- and most people don't.
Nothing wrong with gambling, but you have to understand what you're getting into -- and most people don't.
June 20, 2020, 04:16:14 AM
a similar thread has been posted about this story yesterday 20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative. I suggest locking the thread. also if any of you interested in reading the article here's the link to Forbes where the article is originally posted https://www.forbes.com/sites/sergeiklebnikov/2020/06/17/20-year-old-robinhood-customer-dies-by-suicide-after-seeing-a-730000-negative-balance/#4be317761638
June 20, 2020, 04:15:16 AM
Similar thread : https://bitcointalksearch.org/topic/20-year-old-robinhood-customer-dies-by-suicide-after-seeing-a-730000-negative-5256653
We should be more responsible of posting not to duplicate the content.
Anyway, this young guy might be suffering from extreme depression. This is gonna be the result of so much greed, competing to be one of the youngest millionaire/billionaire. Tbh, this is just a very shallow reason to commit suicide. Money can't buy a life.
We should be more responsible of posting not to duplicate the content.
Anyway, this young guy might be suffering from extreme depression. This is gonna be the result of so much greed, competing to be one of the youngest millionaire/billionaire. Tbh, this is just a very shallow reason to commit suicide. Money can't buy a life.
June 20, 2020, 04:14:22 AM
I don't think that this is the only reason why he committed suicide. There must be a deeper reason why he'd done this.
For a 20 year old, that amount is really a huge one that I think he can't bear it and I think that there are some problems with him and that Robinhood is the catalyst to commit suicide. This is a terrible news for all of the traders here and even the investors who can't bear such huge losses. At his age, that amount is very huge already and having a loss of that amount is simply.... I don't know what to say about it if I'm on his situation at that time I saw it.
Anyway, this is another lesson for us.
For a 20 year old, that amount is really a huge one that I think he can't bear it and I think that there are some problems with him and that Robinhood is the catalyst to commit suicide. This is a terrible news for all of the traders here and even the investors who can't bear such huge losses. At his age, that amount is very huge already and having a loss of that amount is simply.... I don't know what to say about it if I'm on his situation at that time I saw it.
Anyway, this is another lesson for us.
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