So the long story short is that I initially turned 500 into 90k scalping 0dtes and then proceeded to lose 55k today with spy 0dtes (basically got cucked by theta). Nevertheless was still able to salvage 35k (which is more than I had a week ago tbf) so hopefully enough to make a nice comeback. But still fuck me…
Join WSB Discord
Best advice I got was to not make moves every day. Once your capital is up like in your case, sometimes it’s best to bet small like $250 to get your fix but only wager big when you have a good setup/entry or long dated conviction
He went from $200k to $500. I don't think someone like that is going to listen to any advice.
I hear that and you’re probably right lol
He said $500 o $90k
He's been telling his story for awhile now.
$200k to $500 to $90k to $36k. But lately, like this post, his math starts from the $500 bottom, lol. That's why he says he is up despite being down more than six figures. Pure degenerate.
It’s kind of funny how you seem to follow his account just to jump in and add the parts he leaves out
[deleted]
I didn't mean to say that as an insult.
[deleted]
You got to give credit to the man though. 500 to 90k is an unimaginable level of degeneracy.
Just regarded enough to get an application to Wendy's.
Read his progression, don't quite know what to think of it. It looks like he's so close to life changing money on the one hand, on the other hand he's now living in this lalaland where you just double your money everyday, no big deal. All the talk about surpassing 1mil by end of year is pretty crazy. One has to believe it's skill not luck in order to get as far as this guy did, but common sense tells us it's mostly luck or smart money would do it all day every day
He should stick with his day job and forget about trading before his addiction completely ruins his life. He's already at that dangerous stage of downplaying his losses and only talking about the gains despite being down for the year.
This is true. Myself and many other people had big gains at the start, beginner's luck and all that, so when we started losing money it didn't feel that bad, it's house money. By the time you're losing your own money that you worked for youre already desensitized
Still impressive 🙃
This is so true. With over 100k in buying power you can afford to make a couple of good moves every few months. But watching the market everyday and reading posts about 8x gains while sitting on the sideline is not easy.
Also, to add another piece of good advice Ive received, after a big win take that money and move it to your bank account, then let it sit for a while before you do anything else. That way it won't feel like you're just manipulating numbers on a screen, that is you money you can spend however you want
This is the way
This advice is great in retrospect after big losses. It resonates with me thinking about my losses after major wins. But at the end of the day it’s a recommendation to wait until you can time the market properly. Regardless of how long you wait and your sense of conviction on the play, market can deliver max pain and regret and won’t always play out the way we expect.
I say think based on probabilities, always expect the play could go tits up.
I recognize that this reply belongs in r/investing but I had a moment of autistic clarity, apologies.
I would say gambling every day on options is more likely to lose you money … hence why theta gang exists
Thats true but selling them is still gambling with theta working in your favour. It’s about knowing the game and knowing everything is a risk.
https://preview.redd.it/1uha5n1jof7g1.jpeg?width=1170&format=pjpg&auto=webp&s=53f7fba10961b49b0bd4b5afbbe341ea50b146b3
... by doubling down on 0dtes tomorrow to make it all back!!!
OP yesterday:
Why don't you tell folks how you ended up with $500? LOL. This clown is calculating his performance after losing 99.75% of his portfolio. This is peak WSB regardedness and completely hilarious to see him punt away more than half his account in a day.
Wait, so if losing 99.75% left him with $500, that means he started with $200k?
Unfortunately yes that’s the case
Having now learned that this fine gentleman started his journey with $200k I wonder why he didn't pull the 180X move from the start. He would now sit on 36 mil instead of 36k
https://preview.redd.it/750ci75qof7g1.jpeg?width=1080&format=pjpg&auto=webp&s=2cbdcf0542c215bfff7d14f2977a53ba6eea750a
https://preview.redd.it/u6a9e9f6pf7g1.png?width=297&format=png&auto=webp&s=b39374df6609d4081cf0a48b035571f4a4e701cd
Risk Level > Safe
🥴
Nice..
Now you know what can happen. I'd say take some off the table so no matter what you're up
Yeah I’m still up 70x from 500 to 35k. Of course this still really hurts but the positive way to look at this is that I still made 35k and will still be up massively if I take it all off the table.
You forgot to tell us you started with 200k to 500
Well he’s still up -83% from there
You need to sit out a week or so, let it process because otherwise you may make the same mistake twice, I almost did after I lost 22k from NVDA’s insane dump from 212, if I would have I’d have lost another 20 or so. Just wait until you’re ready you know, read the market before acting in it, today was just slop, tomorrow might be even sloppier.
Drop me 6bills
https://preview.redd.it/3c1hftu8vf7g1.png?width=1024&format=png&auto=webp&s=3e2a6ae6aadee934d8a54fc380915a7e0b07e2f0
How long was the grind up from $500 to the peak?
Exactly 4 weeks ago from today
Fuck yea , wow! The volatility definitely helps! Congrats sucks to lose so much but you're still winning!
We had no days over +/- 1% for months. Make sure you recognize how volatility works in options pricing and how you hopped in at the right now.
https://preview.redd.it/i8qhxy9gsf7g1.png?width=1619&format=png&auto=webp&s=45d774b549a4fb4f42245a0595eb1103b04d0343
We had tons of days with over 2% volatility, the day after nvda reported spy moved over 3%
Ya but for months prior to that we had minimal
Restart with $500 now and you’ll thank me later.
Same here! Lost quite a bit by big Theta… we are in this together
You’re welcome. I sold calls today.
Live by the sword, die by the sword.
eh id call that the cost of doing buisness. The only way you made it big last week was the same risky shit you did this week. Mark it down as a win i say. Roll again from 500?
He's not gonna do that. If he does and loses the $500 he'll just grab another $500 from the pile. Plus, he wants $1 mil by eoy
I'll see him at Wendy's then.
Cnbc changed logo bullish
Looks like you will be the one getting scalped from now.
Risk level Safe
My index funds were up 0.01% today, so I'm doing awesome compared to you
As a noob who has never been into options, can this recover?
No. Degenerate gambling statistically goes to 0 as a single loss is all it takes to wipe out weeks of gains.
Lost 15k today. Tired of losing. Shit didn’t pop at all just kept dropping .
It seems like there are a lot of different competing views in the comments and I think I should just clear a few things up. I appreciate all the advice, however brutal it is, and I’m not gonna deny that I got royally fucked over by my own ego today. The initial run up made me feel like I’ve finally figured out the game and that I was some kind of master of the universe, but eventually that one bad day everyone was warning about did come and it’s been humbling to say the least.
u/GneissFrog although the advice is brutal you do raise many valid points. I got extremely deluded with the whole run up from $500 thinking I was truly onto something. Though I think I should clarify the 200k loss. It was over around a 1.5-2 year period (rather than ytd) and I never had the 200k at once but it was instead a series of many deposits and I probably never had more than 10-20k at once. I got the initial 200k as a grad student with some lucky crypto plays as well as well as a side business I ran in school as well a some money I made since starting my full time tech job earlier this year. Still not completely sure what my overall ytd position is since I have many different accounts.
Overall situation is that I’m a 25M who graduated with a computer science masters last year and I started a job earlier this year after a long and hard thought job search and am making around 150k a year. I also have another 200k or so in long term investments that I pretend doesn’t exist. You’re completely right that I should probably focus on my career now instead of going down this spiral further. I’ll probably pull out around 25-30k or so and maybe try again with 5-10k and if I can get another good run up, that’s great otherwise it is what it is.
u/lithe_silhouette I do think it’s fair to mention the 500 to 90k peak run up as well. Now whether it was a result of skill or just hitting a lucky slot machine 10 times in a row and losing on the 11th time is a matter of debate, but I do feel I at least partially did something right and then made a bad move today to end up where I am. One way to look at it is that I lost 200k (albeit not at once), while another way to look at it is that I made 35k from 500 or a 70x return. Overall it’s been quite a wild ride.
Gotta say, I am both surprised by this response given how harshly I came at you, and in retrospect, embarrassed at how I chose to communicate my points. That's my bad. I suppose given WSB's colorful history of questionable choices, I opted to assume the worst. It appears you are relatively well-positioned financially and mentally to absorb this recent setback, and that is good to hear. I wish you luck in your pursuits, whether it be in tech, finance, or elsewhere.
Holy shit. It's Chad Dickens.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
https://preview.redd.it/7r4sucergh7g1.jpeg?width=1284&format=pjpg&auto=webp&s=7b8793f9e816233a7dddc9d681b2c6217c1a13fd
Down $50K with no active positions 😩😩😩😩
Just spy 0dte scalps that blew up due to theta.
https://preview.redd.it/7nxvkqhz1k7g1.jpeg?width=934&format=pjpg&auto=webp&s=6813a2374d7c609bdce1183b1902754adc7648ce
Just like my mistress screws me in both my holes! It doesn’t feel good until it does 😈
Days like today are the best to trade. Most days are range days not trend days. Fade the breakouts.
You're not up anything until you cash out to your bank. Easy to say you should have stopped betting at your peak, but then you can make that statement for every preceding peak too.
Chips are there to bet, it's only money when its in your pocket. You're not down anything, you're still way up.
Yeah it’s honestly a video game until it actually hits your bank account. I mean the positive way to look at this is that I’m still up 70x from $500 in 4 weeks even though the 55k loss today certainly hurts.
People keep reminding him that he started with 200k, but honestly it's super impressive he took $500 to almost $100k so fast. The hope of accomplishing something like that keeps a lot of people here in the game. Now OP needs to really internalize that he got really really lucky and that kind of performance is not repeatable, unless he gets super lucky once more
He's definitely had to do a lot of trades to scalp those profits. It's not like he got lucky on one single trade. He's doing a lot better despite this loss than a lot of people on this sub.
$200k to $36k. Bruh, Do you realize how crazy it is that you are praising someone for losing more than 80% of their portfolio in a bull year? Give a five year old kid a robinhood account and he could beat that return while picking his nose.
Not crazy at all, it''s crazy to keep fixating on the 200k. Most traders who made it in the end and do it for a living have a few blown accounts, at least if they are to be believed. This guy had the skill and the balls to take $500 to $90k, that's fucking impressive regardless of wether he pissed away 500 mil before that
[deleted]
If you can take 200k to 500$, then you can take 10M$ to 25k$ within a
single yearcouple of months/weeks.Whatever my boy is doing won't even secure his well being for enough time to pay a car, even if he somehow makes it big.
Here you go.
https://preview.redd.it/f5o37rsrmk7g1.jpeg?width=1283&format=pjpg&auto=webp&s=2dcd79b8984468f70bc2eaf13fd629811e0ac190
All in every time at the roulette table would produce similar results for a certain number of people. However, the degenerate willing to do that will never be willing to call it quits, and at that point, probability says they're fucked. Losing 80% of an account is not skill, and turning $500 into 90k isn't either. It's just pure, all-in gambling which is guaranteed to fuck you over time as a single loss wipes out a long streak of wins.