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Author Topic: I got a margin call, was forced to sell, and lost my entire life savings.  (Read 4217 times)
TTBit
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June 11, 2011, 03:37:15 AM
 #21

My story is just the opposite: I sold short around $6, bought it back around $20, was down close to $50k. But I then leverage up and shorted at $30 and thank god some sucker sold to me after it dropped 20%, and made $100k+ in the process.

good judgment comes from experience, and experience comes from bad judgment
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cypherdoc
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June 11, 2011, 03:41:53 AM
 #22

My story is just the opposite: I sold short around $6, bought it back around $20, was down close to $50k. But I then leverage up and shorted at $30 and thank god some sucker sold to me after it dropped 20%, and made $100k+ in the process.

just where are you shorting that kinda money?
StrangeLoop
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June 11, 2011, 03:55:34 AM
 #23

I really hope OP is not serious. If so, welcome to the art of speculation. You can get taken to the cleaners if you don't know what you're doing. CAVEAT EMPTOR
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June 11, 2011, 03:57:14 AM
 #24

i started when it was $6, sold it at $20 and made $45K.

so i leveraged 60 to 1 and piled in when it hit $30.1, but today when it dropped over 20% i was forced to cut all my positions, and lost 110K in the process!

how could this happen? there should be a central authority to bitcoins regulating daily loss of maximum 5% per day!

you're a troll.  first of all a 15 yo can't get a hold of leverage, let alone 60-1.  this kinda sophisticated talk makes me think you're a f*cking Wall Street punk who wants to scare everyone here into to selling to you.  don't sell to this weenie.

15_year_old_blond

No no, it's the "BLOND" that caught my attention.

Oldminer
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June 11, 2011, 04:04:12 AM
 #25


Wait, there was an ounce of seriousness anywhere in this thread?  How'd I miss that one? o.O


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matt.collier
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June 11, 2011, 08:08:50 PM
 #26

i started when it was $6, sold it at $20 and made $45K.

so i leveraged 60 to 1 and piled in when it hit $30.1, but today when it dropped over 20% i was forced to cut all my positions, and lost 110K in the process!

how could this happen? there should be a central authority to bitcoins regulating daily loss of maximum 5% per day!

Where are you getting a margin to trade in bitcoin?
soades
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June 11, 2011, 08:15:01 PM
 #27

i started when it was $6, sold it at $20 and made $45K.

so i leveraged 60 to 1 and piled in when it hit $30.1, but today when it dropped over 20% i was forced to cut all my positions, and lost 110K in the process!

how could this happen? there should be a central authority to bitcoins regulating daily loss of maximum 5% per day!



To big to fail, need a government influx of taxpayer dollars to make you whole again.

1DAYiWIllgeTRiChwiThbitCoInPOnzIScheMe
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June 11, 2011, 08:18:11 PM
 #28

The nick didn't give it away for all the people replying? Huh.

Ho-Hum.
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