https://external-preview.redd.it/w5bOENl9guFWGFHeVWi82AGh8wf4UCsrja4pYdQomto.jpg?auto=webp&s=4269ea52448ebf5a22ee817adc8045a5aa8912b4
Looks like it’s my turn to take a break. Had $20k in my account by end of October only to lose $10k in puts on the last rate hike announcement meeting. Turns out if I had held, I would have been up $65k by the end of it, so I’ve spent plenty of time kicking myself for that one.
Today I lost the remaining $10k after waiting until the ridiculous spike today and bought some puts. Doubled down several times and now it looks like I’m broke. Time to take a long break away from the markets. Hopefully this loss porn satisfies some of you other degenerates!
https://imgur.com/a/gVamclu
View Reddit by JDmexican_92 – View Source
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Sorry for your loss bro. It’s the casino where the house always win in the end.
I learned to stop trying to call tops and to leave losses small when the top doesn’t wanna come in for you.. instead of opening up stops for exhaustion…you blew up due to the age old adage of, “markets can remain irrational longer than you can remain solvent”
Better to cut the loss before its too bad, and re enter on what looks like to be the backside with a more defined risk instead of hold through the move.
We live and learn. I lost 25k off similar events
Good plays. Next time let me know ahead of time what you plan to do so I know when shit’s going sour.
I would save you a spot behind the Wendy’s dumpster, but it has been getting really crowded recently
Sucks man, Sorry to see it. I lost $700K back in 2005 and I was poor before that. I was poor again. Live and learn and get a chance to play again.
I did the same thing. I tripled down. No more Christmas for me.
Sorry for your loss OP. I hope u make it back tenfold.
Just imagine if you had put that 10k into calls. Or don’t. I got away with a small profit today and even I can’t stand to look at the return on calls. Because I’m so mad I didn’t have any.
That is like one of my afternoons.
never test the water with both feet
Ouch better luck next time
Fortunately for you the reason you lost that money today is because JPow confirmed that dollars have less value.
Ie You didn’t lose as mush as it feels like you did.
Could’ve just bought a straddle on both of those plays and you would’ve made a shit ton of money.
You don’t need to get the direction right with those, you just need the price to go up or down a lot.
Shiii I did the exact same thing last week doubling down on puts as the market went up. Lesson learned to set stops and never fight the trend or double down on a losing trade.
Don’t worry my dude, I’m going to tell you what trade I’m making next time so you can inverse
feel you… made 8K to 35K in september. got fucked 10th of november from 35k-2K… hustled it up to 6K and lost it all yesterday.. i had put orders i forgot to remove that got activated on the way up….
Whats up eskimo brother.
New to group, someone explain puts?
Consider playing straddles/strangles next time to take out a lot of the guesswork on these days!
Riiiight well it says here on my chart you’re all fucked up.
Well done!
You motivate me bro never give up
You still have $292 left, yolo into 0DTE calls this Friday and finish this account like a champ
See you tomorrow after u get a 10% variable interest rate loan to bet in all on 0 DTE SPY calls
I too lost 20k on the last rate hike announcement meeting.
I gave you an award cause I’m laughing with you.
Haha you are just like me. Making huge bets instead of smaller bets over the course of a year with the full 20k.
This would mean you could make 40, $500 option plays.
And then! When you lose the 10k you say, fuck it, might as well bet the rest!
Great job! I’ll save you a seat on the special bus where we belong!
Respect for your courage to go all in.
We all go bust at one point or another doing high risk plays.
Godspeed on a fast recovery amigo.
I know it absolutely sucks to go bust right before the holidays, I’ve been there (just last year!).
Thank you for sharing. I am sure you can get 2 ropes for $5 dollars at the dollar store, just in case…jk jk.