blown account

It's a trading account that's been reduced to nothing — or nearly nothing — through catastrophic losses. Traders say they 'blew up' the account.

Culturally it's treated almost as a rite of passage, worn with dark humor rather than shame. In reality it means losing all or most of your trading capital, which is a serious outcome.

Usually through oversized, leveraged, or all-or-nothing bets — like short-dated options or heavy margin — that move sharply against the trader with no cushion to absorb the loss.