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To young paper trader…

by Gav Leave a Comment

I LOST $700,000 IN 3 MONTHS

    Student on winning stock market streak, then he loses dad’s life savings
  • OCT LAST YEAR: Just a student in Australia, he makes $80,000 from trading
  • DEC LAST YEAR: Back in S’pore after exams, he role-plays trading & makes an imaginary $100,000 on 1st day & $110,000 on 2nd day
  • DEC-JAN: Convinces dad to give him life savings of $300,000. But he loses it & the $80,000
  • Feb: Girlfriend dumps him. He stops trading for 2 weeks.
  • FEB: He puts money on stocks of 9 companies when market reopens after Chinese New Year

Here is an very interesting story in Singapore. Here is the news

Filed Under: news

Reader Interactions

Comments

  1. john says

    March 13, 2007 at 9:09 pm

    that’s brutal…he should have expressed his losses to his girl in terms of R ๐Ÿ™‚

    Reply
  2. john says

    March 14, 2007 at 2:09 am

    that’s brutal…he should have expressed his losses to his girl in terms of R ๐Ÿ™‚

    Reply
  3. Gav says

    March 14, 2007 at 3:07 am

    LOL…in this case , he might only have 1 R loss.
    Coz, his 1 R is $700k

    Reply
  4. Gav says

    March 13, 2007 at 10:07 pm

    LOL…in this case , he might only have 1 R loss.
    Coz, his 1 R is $700k

    Reply
  5. john says

    March 14, 2007 at 11:13 am

    lol

    Reply
  6. john says

    March 14, 2007 at 6:13 am

    lol

    Reply
  7. LP says

    March 20, 2007 at 2:22 am

    Good God almighty…I’m glad I only started out with 30K even now I feel like I need to continue looking for crazy probabilities where I could loose money and my R is only 100 bucks. I feel for the idiot. But man could he been more stupid?

    Reply
  8. LP says

    March 19, 2007 at 9:22 pm

    Good God almighty…I’m glad I only started out with 30K even now I feel like I need to continue looking for crazy probabilities where I could loose money and my R is only 100 bucks. I feel for the idiot. But man could he been more stupid?

    Reply
  9. Alan says

    December 31, 2007 at 7:24 am

    darn, the article has expired and is no longer available…. Sounded interesting though

    Reply
    • Gav says

      December 31, 2007 at 8:48 am

      Jeez, I never expect a newspaper article to be expired. ๐Ÿ™
      Let me google it, see if I can find some archive.

      Reply
  10. Alan says

    December 31, 2007 at 5:24 pm

    darn, the article has expired and is no longer available…. Sounded interesting though

    Reply
    • Gav says

      December 31, 2007 at 6:48 pm

      Jeez, I never expect a newspaper article to be expired. ๐Ÿ™
      Let me google it, see if I can find some archive.

      Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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