Imagine being 20 years old, and playing around with investing and options trading.

1. What happened
– He was a new investor and started investing
– He started to like it and then got into options
– He didn’t know what he was doing, but he did see money being made

After a Night:
– He woke up with his account buying buyer being -750k
– He thought he owed that much money and then
– Did what he did

The strategy:
– According to Forbes, he was participating in Bull Puts
– Where basically he was limiting the risk by having buying and selling options
– In reality, what he thought was a negative balance of 750k, had not yet cleared and shown the real loss based on his margin.

In a way:
– It could be possible that he didn’t make a massive 750k mistake
– But instead, it was just an interface glitch with Robinhood
– And Robinhood has been updating their interface all through the pandemic due to the higher volume of people on their platform

SO: Robinhoods response was, we are going to review the problem and see exactly what happened and how we can fix it.

2. Overall:
– What happened here was a tragedy
– But here’s some advice that was given to me

– Bankruptcy is always options and was put in place to protect you and allow you to get restart.

– Leverage is a tool that can doom a lot of smart people, you have to understand that’s it’s like a double-edged sword, and it can make you a lot of money or it can lose you a lot also

– Understand the game you’re are playing, I know sometimes with the stock market it feels like you might miss out. Buts it’s like going to your favorite store and seeing something is one sale, it says for a short time only. But it’s not worth it if you cant afford it.

– It’s okay to go slow and steady, I feel like when people hear that I make over 20k, graham makes over 100k and so does Kevin. People might feel like omg I’m falling behind, but at the end slow and steady wins the race. Look at warren buffet

– Play the games that are simple, and are in your favor. If you want to build passive income, there is nothing passive about day trading, options trading. Invest in index funds while you learn to understand investing. The stock market was her before you were born and it will continue to be here.

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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