I've been trying my hand at daytrading and was trading TQQQ/SQQQ 1000 share lots, when I accidentally typed in TSLA instead of TQQQ and wound up with a heavily margined 1000 share TSLA position. As soon as I realized I immediately sold it and wound up making $1,500 - so not devastating but it was memorable!
I bought a Pharma startup one time. Overnight their drug product failed to get FDA approval, and the stock lost 80%. (I lost 40% of my principle.) I even call the exchange asking if there was an error.
I know what you're thinking. "I bet you had some Pharma winners." Yes, but I don't talk about those. You risk big, then you can loose (or win) big. But you knew that. It's a GameStop story.
I know what you're thinking. "I bet you had some Pharma winners." Yes, but I don't talk about those. You risk big, then you can loose (or win) big. But you knew that. It's a GameStop story.
My algorithms weren't as robust 10 years ago, and while on vacation they triggered margin violations 3 days in a row. The account was locked due to FINRA and SEC rules and to unlock it required an enormous fresh capital deposit (which I eventually got back). Very scary. Beside that: everything that could go wrong, has gone wrong.
So this was back in early 09'. I had just retired from banking and had just started running some of my first auto trading strategies on tradestation. The strategy entered trades during the asian session. It was supposed to short 5 contracts of the es emini and ended up shorting 50. Markets gaped up huge by morning and my stop only exited 5 contracts.
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