**OFFICIAL** Trading and Investing Thread- Part -X-

[topperstyle]

Funny I say this, because I'm so lost career-wise. I was on the med school track my entire life but didn't get in anywhere and now I don't know what to do. I have a B.S. in biology and am considering going to grad school for an MBA. I have no idea what jobs or careers to look into where I can manage investments or a stock portfolio for big clients. I'm in St. Louis, MO.

What are you charging?

[BulkingAkaFAT]

Well I shouldve listened. Brb gonna go kill myself

wait did you not sell your calls? fuk. I calculated you were only at a 50% loss at one point yesterday

^^

THIS. You held!?

Even at the lowest point you were getting a return - Why'd you hold something & watch it lose value before your eyes.
You had a chance to get out with some cash.

[brahskimoseph]

^^

THIS. You held!?

Even at the lowest point you were getting a return - Why'd you hold something & watch it lose value before your eyes.
You had a chance to get out with some cash.

Honestly couldnt tell you. I bust my ass to make money working 2 jobs, dont eat out, drink, ect and im otherwise frugal, but yet here I am. I appreciate the advice man.

[brahskimoseph]

I have a gambling problem. Always have looking back. Always got to nearly the highest level in everything Ive done( I realize 27k aint chit to most lol) but always fuking blow it. Every fuking time

My buddy spends more going out in one night than my current entire networth. ****ed up at work today might get fired.

[RobParks2M]

I have a gambling problem. Always have looking back. Always got to nearly the highest level in everything Ive done( I realize 27k aint chit to most lol) but always fuking blow it. Every fuking time

You went too deep bruh you got greedy. You gotta control yourself especially once you are moving thousands in each trade in options. You are pretty much guaranteed to fuk up some options and lose $$$. Great thing about them is doubling up or tripling up erases a lot of fuk ups. Try to limit losses to 50% on trades that don't go your way. Buy smaller initial positions and scale in with longer time frames if they don't go your way initially but you know it is going to move eventually.

[brahskimoseph]

You went too deep bruh you got greedy. You gotta control yourself especially once you are moving thousands in each trade in options. You are pretty much guaranteed to fuk up some options and lose $$$. Great thing about them is doubling up or tripling up erases a lot of fuk ups. Try to limit losses to 50% on trades that don't go your way. Buy smaller initial positions and scale in with longer time frames if they don't go your way initially but you know it is going to move eventually.

Yeah Im a very short sighted person. When my account was at 50k, I bought in some SLv and GOld options for late august expirations, and this was literally weeks before gold went from 1340 to 1500, and I cut them. It wouldve been a 600% return, maybe 1000%. I understand why people off themselves now, like I cant beliebe I did this chit. I havent traded since I blew up all my winnings about 3 months ago, and made my first trade on monday this week.

Worst part is I cant tell anyone about this. Sorry if Im bitching lol

[thatsnarf]

I have a gambling problem. Always have looking back. Always got to nearly the highest level in everything Ive done( I realize 27k aint chit to most lol) but always fuking blow it. Every fuking time

My buddy spends more going out in one night than my current entire networth. ****ed up at work today might get fired.

27K is a lot unless you make like 300k a year. you need to stop for like a year. if i read correctly you just loss around 60k, your yearly salary. step away.
don't do anything retarded.

have to just work/save and grind for now.

[mike.hunt]

I have a gambling problem. Always have looking back. Always got to nearly the highest level in everything Ive done( I realize 27k aint chit to most lol) but always fuking blow it. Every fuking time

My buddy spends more going out in one night than my current entire networth. ****ed up at work today might get fired.

It’s just paper bro! Plenty of time to make more.

I went from $4k to $36k in 3 weeks then lost it all on SPY puts last month. That’s why I don’t post in here anymore lol

Options are like crack, those big wins are such a rush but eventually one wrong move will bankrupt you.

[brahskimoseph]

It’s just paper bro! Plenty of time to make more.

I went from $4k to $36k in 3 weeks then lost it all on SPY puts last month. That’s why I don’t post in here anymore lol

Options are like crack, those big wins are such a rush but eventually one wrong move will bankrupt you.

Yeah man no kidding. I mean youre right, but I live and work in high end chicago burbs. Nothings cheap out here. Im young and Ill be okay but man Id be lying if I told you I wasnt thinking about the worst all day. Im not a high earner, I have essentially no assets. Paper is important, I didnt realize it till its too late.

[brahskimoseph]

Chit man. I busted my ass for 5 years(redshirt) and destroyed my body to pay for college, risk my freedom for years, worked 60+ hours a week, all for jack fukin chit. It would be easier if this was stolen from me or something, cuz the worst part is its only me to blame. I cant fukin think straight. Never been this low in my life, and Ive been low as fuk before. Even if I worked and somehow saved every fuking penny for the next year, I still wouldnt have anywhere near as much as I did. What the fuk is wrong with me.

[Venom08]

Why would you want to manage other people's money? Just use your own to make bank and then do whatever the fuk you want with your life. Chit is too short to spend it in a cubicle erry day all day.

In college I was managing a portfolio for my dad that was worth over $400,000 at one point and I was the only one trading and investing on it. But my dad cashed it out to pay for the mortgage because my grades were slipping (was premed) due to me monitoring the markets instead of paying attention in lectures.
Then he left me with $3k in ToS and I grew that substantially over the years. Unfortunately I bought the dip using far OTM call options back in Feb 2018 and lost my chit since the market has done nothing but consolidate since then.

[RobParks2M]

As percentages of my account I've fukked up pretty hard. I'm sitting on like a 60% loss on a stock I bought years ago. I've lost 20% of my account on option trades before too and it fukken sucks. Nothing worse than cashing out a big fat ZERO on a call. You'll be aight bruh. Just remember that wasn't all money you saved. You lost a lot of your profits from previous trades right?

[brahskimoseph]

As percentages of my account I've fukked up pretty hard. I'm sitting on like a 60% loss on a stock I bought years ago. I've lost 20% of my account on option trades before too and it fukken sucks. Nothing worse than cashing out a big fat ZERO on a call. You'll be aight bruh. Just remember that wasn't all money you saved. You lost a lot of your profits from previous trades right?

42k of capital all told

[stezus]

Chit man. I busted my ass for 5 years(redshirt) and destroyed my body to pay for college, risk my freedom for years, worked 60+ hours a week, all for jack fukin chit. It would be easier if this was stolen from me or something, cuz the worst part is its only me to blame. I cant fukin think straight. Never been this low in my life, and Ive been low as fuk before. Even if I worked and somehow saved every fuking penny for the next year, I still wouldnt have anywhere near as much as I did. What the fuk is wrong with me.

Partner, it's time to step back and realize money =/= life. Use this as a lesson whose tuition is the loss and make it worth it.

[RobParks2M]

42k of capital all told

Sounds like G4P the only solution at this point.



Not srs take everything you have gather up $42k and a 9mm and go to Vegas. All on 1-12 on the roulette wheel for 1 spin. Either walk out with $126k or don't walk out at all.


Ayyy lmao

[brahskimoseph]

Sounds like G4P the only solution at this point.



Not srs take everything you have gather up $42k and a 9mm and go to Vegas. All on 1-12 on the roulette wheel for 1 spin. Either walk out with $126k or don't walk out at all.


Ayyy lmao

Wheres the fun in that brah when options o XOM went up 5800% a few weeks back? Cmon bro think logically, smh

[RobParks2M]

Wheres the fun in that brah when options o XOM went up 5800% a few weeks back? Cmon bro think logically, smh

ayyyy das it see you are already back on track.

[RS8]

Chit man. I busted my ass for 5 years(redshirt) and destroyed my body to pay for college, risk my freedom for years, worked 60+ hours a week, all for jack fukin chit. It would be easier if this was stolen from me or something, cuz the worst part is its only me to blame. I cant fukin think straight. Never been this low in my life, and Ive been low as fuk before. Even if I worked and somehow saved every fuking penny for the next year, I still wouldnt have anywhere near as much as I did. What the fuk is wrong with me.

you should read Market Wizards (1989 version). a lot of the traders in that book who went on to become multi-millionaires/billionaires started off by literally wiping out their accounts. all these guys eventually succeeded because of the learnings they took from that initial loss. most of it came down to proper risk management and defiance to giving up. keep your head up bruh. the market is always full of opportunities to regain that lost capital.

[bostonbro]

I agree Market Wizards and the sequel are great because its observations from the trading winners.

FYI...I was a block trader on Wall Street out of college. I executed block orders for giant funds and did a good job. I was Surrounded by smart people but didn't practice any wisdom with my own account. I traded naked options and lost all my money over and over again. It took 4 or 5 years to kick that habit. Since then I've been an investor (not a trader) and I've done well (or been lucky).

My two rules: Rule 1- don't trade naked options. Rule 2- don't forget Rule 1.

[RobParks2M]

I agree Market Wizards and the sequel are great because its observations from the trading winners.

FYI...I was a block trader on Wall Street out of college. I executed block orders for giant funds and did a good job. I was Surrounded by smart people but didn't practice any wisdom with my own account. I traded naked options and lost all my money over and over again. It took 4 or 5 years to kick that habit. Since then I've been an investor (not a trader) and I've done well (or been lucky).

My two rules: Rule 1- don't trade naked options. Rule 2- don't forget Rule 1.

Welp finally took some money outta my account for the first time to purchase a new (to me) toy cash. Anyone that's been here for a few years probably is aware I started with like $1,000 and added $1,000 x2 once 2 years in a row awhile back. Account got up to close to $20,000 at the peak when I had several very successful options calls in a row. Taking a little under half the account value to fund my purchase and I'm very happy about it. Hopefully I can manage to get my account back to the same size in a year or 2. I guess we shall see.

For those of you who are big ballers with 100s of shares of stock does anyone find selling covered options valuable? For those of you doing it, are you selling a call and a put option for each 100 shares you own?

[Unstumpable]

So I'm a complete newbie to trading and investing and am looking to get my feet wet into learning this stuff. I was watching a bunch of warrior trading videos on youtube today, and thought what the hell I might as well go on his site and learn more. 1000 dollars to sign up, and 200 every month after that?!?!? Hell no. Gotta be a cheaper way or place to learn.

So are the books still linked in the opening post the go to books yall recommend for newbies? Are the investopedia courses worth the money etc? Looking for any advice about where to dive in. Thanks.

Was looking into swing trading vs day trading. Would only have around 10k initially to play around with.

[Venom08]

Welp finally took some money outta my account for the first time to purchase a new (to me) toy cash. Anyone that's been here for a few years probably is aware I started with like $1,000 and added $1,000 x2 once 2 years in a row awhile back. Account got up to close to $20,000 at the peak when I had several very successful options calls in a row. Taking a little under half the account value to fund my purchase and I'm very happy about it. Hopefully I can manage to get my account back to the same size in a year or 2. I guess we shall see.

For those of you who are big ballers with 100s of shares of stock does anyone find selling covered options valuable? For those of you doing it, are you selling a call and a put option for each 100 shares you own?

I used to just sell puts instead of flat out buying shares. It was like free money since i wanted to own shares of the stock anyway, why not get paid money to enter it?

[bostonbro]

So I'm a complete newbie to trading and investing and am looking to get my feet wet into learning this stuff. I was watching a bunch of warrior trading videos on youtube today, and thought what the hell I might as well go on his site and learn more. 1000 dollars to sign up, and 200 every month after that?!?!? Hell no. Gotta be a cheaper way or place to learn.

So are the books still linked in the opening post the go to books yall recommend for newbies? Are the investopedia courses worth the money etc? Looking for any advice about where to dive in. Thanks.

Was looking into swing trading vs day trading. Would only have around 10k initially to play around with.

Warren Buffett reads 600- 1000 pages a day. Before you invest your money, invest your time. Read the 19 books Buffett has recommended in interviews over the past 20 years.

[RobParks2M]

I used to just sell puts instead of flat out buying shares. It was like free money since i wanted to own shares of the stock anyway, why not get paid money to enter it?

Makes sense. But assuming you already own the shares just do calls then??

Also, anyone already see us going into recession mode? I've seen a lot of companies significantly scaling back jobs...you gotta figure that is going to hurt overall economy pretty soon. I've changed my 401k composition already selling my stock in KR and apple today too. Perhaps I am panicking for no reason, but I don't feel particularly positive lately.

[bostonbro]

Makes sense. But assuming you already own the shares just do calls then??

Also, anyone already see us going into recession mode? I've seen a lot of companies significantly scaling back jobs...you gotta figure that is going to hurt overall economy pretty soon. I've changed my 401k composition already selling my stock in KR and apple today too. Perhaps I am panicking for no reason, but I don't feel particularly positive lately.

its never a bad thing to take money off the table & KR earnings momentum socks. I think companies will start lowering expectations for earnings season which starts in 1 week. Watch the cos that miss on already modest estimates, the market will give em 25% haircuts! Recession? Maybe but here's a diff between a slow down and a recession! I vote slow down for now.

[brahskimoseph]

ignore my bitching please, we gonbe alright

[brahskimoseph]

valhalla here I come

[iBeard]

Welp finally took some money outta my account for the first time to purchase a new (to me) toy cash. Anyone that's been here for a few years probably is aware I started with like $1,000 and added $1,000 x2 once 2 years in a row awhile back. Account got up to close to $20,000 at the peak when I had several very successful options calls in a row. Taking a little under half the account value to fund my purchase and I'm very happy about it. Hopefully I can manage to get my account back to the same size in a year or 2. I guess we shall see.

For those of you who are big ballers with 100s of shares of stock does anyone find selling covered options valuable? For those of you doing it, are you selling a call and a put option for each 100 shares you own?

I don't really sell covered calls anymore. I have in the past but you really have to choose which stock you do it on wisely AND be emotionally ready for it to be called away. You don't want to sell a covered call 5 bucks above the current price and watch your stock rally 20 points and get called away. Its vomit inducing. I was in McCormick, nice boring consumer staple dividend stock, 500 shares. I thought I would be cute and sell calls and collect premium. It worked for a couple months until it rallied about 50 points. That sucked.

There's a strategy called the wheel where you sell cash covered puts on a stock you would like to own until you get assigned. Once assigned you sell covered calls against it until it gets called away. If it is a dividend stock sometimes you can catch some distributions. I have seen people play it that way before.

[Venom08]

valhalla here I come

I once got exercised on 1000 AAPL shares because I had 10 calls that, at the last second, went ITM got exercised at the ATH of $700. It procedeed to crash at the following opening and I lost a chit ton. This was September 2013.
ALL $700,000 of it was on MARGIN!!!!

[BulkingAkaFAT]

I once got exercised on 1000 AAPL shares because I had 10 calls that, at the last second, went ITM got exercised at the ATH of $700. It procedeed to crash at the following opening and I lost a chit ton. This was September 2013.
ALL $700,000 of it was on MARGIN!!!!

^^

Got Margin called trading Heating Oil. Whole account wiped in literally 15 minutes.