Young trader dies by suicide after thinking he racked up big losses on Robinhood - page 3.

Tipstar

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Quote from: microsurfer on June 20, 2020, 01:46:24 AM

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

Yes. People should know what they are doing with their money. The higher the promises of return, the higher is generally the risk.
And it's even frustrating to realize that people are putting killing themselves for something like money. If you have a life, you can pay off your debts someday and live an experienced and peaceful life in the long run.

The Cryptovator

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Trading something like a gamble, people shouldn't gamble with his lifetime earned money. Before invest on any place we should realize that there is possibility of losses. So should invest or play with what we can afford otherwise it would led to suicide like OP said. But this is really heart touching story for a crypto users. It would discourage others from crypto currency. We shouldn't trade such as big amount if can't afford loss. This would be lesson for us that we shouldn't trade with such as amount. Trading isn't something ROI platform, always we wouldn't be gainer so by force we have to accept our losses. It doesn't mean we shouldn't love our life. We could earn money if we are alive on the earth. So please don't do such as suicide attempt, think about your beautiful life and family.

yhiaali3

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This is a really sad story and a tragic ending for this young man. The trader should expect loss before profit. He must also be interested in learning risk management before starting trading. I don’t know how this can be taught to young people, but there are a lot of important things that they should learn like not to start Using large capital at the beginning should be learned by a small amount. Also, the capital must be divided into two or three parts to avoid the big loss. Parents should also do their part to know what their children are doing and advise them.

Reid

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This could be the main reason for the suicide.

Quote

“How was a 20-year-old with no income able to get assigned almost a million dollars worth of leverage? There was no intention to be assigned this much and take this much risk, and I only thought that I was risking the money that I actually owed.”

A lot of people might be investing with him.
He didn't want to take the blame and so he did the bad thing of killing himself instead of looking for another way out.
There is always a solution for everything even if how deep the problem is.
He did a wrong step and know nothing about what he brought himself into.
Condolences for his family. This should be a lesson for all of us here.

cosmofly

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This is the result of a lot of money but inexperience. He was too young and too wild to use all his capital to trade margin. It is one of those types of transactions that makes many people insolvent without trading experience. So do not think you have a lot of money, it will easily make money in this trading margin.
Another great example is that we need to learn more to avoid this situation.

romeojasmin13

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This is a tragic story. Of cause, $730k is a big sum, but in this case I may suppose the guy had a king of gambling addiction.

Pamadar

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He's too young and very aggressive thats why he reacted that bad without clearing everything.

and He has huge capital to be 20 years old,losing 730 thousand dollars(as he assumed).
we have seen some like this when a young gambler from korea (if i am not mistaken) jump from his window after losing huge amount.

microsurfer

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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

Adorari

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This is a really terrible story.

Bitcoinmoon12

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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/

Topic: Young trader dies by suicide after thinking he racked up big losses on Robinhood - page 3. (Read 695 times)