Y'all have been killing it. Still can't believe I am down so much but I am tempted to reopen my account plow into xiv and place sell order at 60 even if it takes years to hit.
Agreed. That's what my girlfriend said when I came clean about the losses and yay I'm single again.
I know three people who did get wiped out. And I am not exaggerating. I mean people with 6 figure accounts that actually went negative. So they have to file bankruptcy if they can't find a way to pay their broker. I need 50% gain to make the losses back. And I do think svxy/xiv can provide that. However I cannot stand the possibility of more losses so I closed my account for now.
Early 40s. Money came from previous job. Currently unemployed with no prospects. Thinking about teaching ESL overseas. Have one sibling she is older. I fudged a bit on the losses. The percentage is accurate but multiply the dollar amount by 10. Then you see the despair.
After losing one third of my account shorting UVXY I believe you.
-33%, account closed and seriously considering suicide.
If I had not covered part of my position Friday my 800 account would have dropped not to 530 but to 0 or probably negative given how swift the move was.
And a call seller's nightmare as I found when I lost 1/3 of my account before shutting down. Could've been even worse too.
Related question, now that the dow is green on the week and I still lost 1/3 of my money, have enough capital losses forever and have only 2 months living expenses saved up, what would you do in that position? I am thinking about teaching English abroad. Will never touch US stocks again as I believe the next crash will destroy the whole system.
I lost 35% on the forced liquidation. I knew this POS would collapse but broker gave me no choice. It's their discretion. Of course if UVXY continued on to 100 I would've had 0.
I lost 33 % of my net worth and liquidated the remainder. Will never touch stocks again.
God how I envy you. To think I lost over 30% of my dough on UVXY short. No idea how ya'll knew UVXY was going from 24 to 73, and maybe even higher now. I closed my account completely. When I was losing 35%, others were making millions.
Wow I forgot those names- blast from the past! I truly did close my account. I feel lucky that it wasn't involuntary like Maple. Could've gone the other way. UVXY actually could've hit even higher than 73. What I got left ain't much but it sure beats owing them money.