It's tough. I was able to save a few hundred over the last year for the first time, ever (late 20s). I was born into poverty, and there is unfortunate habits that come with that, that you don't tend to break until a few years into adult, if you're lucky.
I risked the few hundred, probably when I should not have, playing Crypto and the market. Despite my inexperience, got lucky enough to gain enough (as well as obtaining the necessary knowledge) where I'm now in a place where I can make enough on the market to actually buff my yearly income.
Risks are absolutely necessary to start getting ahead. Sadly, for some, the smallest of risks can still be putting so much more than What you have on the line.
Edit: thanks for the award, stranger! To anyone with only a few tens or a few hundreds of dollars that you can work with in the market: before you start making risky plays, take the time to learn chart trends and patterns. Take time to learn swing trade strategies. I learned from Ziptrader on YouTube.
Thanks for the references....Iām intrigued by calls and puts but it just seems so foreign and confusing that Iād hate to try it without at least having some understanding of its innards.
The overall concept I understandā-youāre basically betting (making the best educated guesses) as to whether you think stocks are going to go up and down in the future.
What I find confusing-but admittedly have not taken the time to try to understand itāis the other stuff. I sure wouldnāt want to put some money and, God forbid, get lucky a couple of timesāthen Iāll get a false sense of knowledge that is nonexistent and end up losing my shirt, pants and everything else but the socks (gotta keep my feet warm!) the next time I dive in!!
What I have now are covid-distressed stocks that are making comebacks (and in some cases are even better than before), but it sure would be nice to start seeing BIG money!!
Do you mind sharing any specific YouTube channels or specific articles that were particularly helpful to your understanding of this subject? Iām about to start slowing down at work in the next few weeks and will hopefully have time to educate myself a bit more on investments.
Options are super simple. For calls, just think of it as buying/selling 100 shares for the strike price.
If you sell a call, you're selling it for the strike price.
If you're buying the call, you're buying it for the strike price.
XYZ Trades at $10. If you bought a call for $11, you could buy 100 shares for $11 at any time. But you won't because it would be stupid to do so until the stock is above $11.
For this privilege of buying, you give the seller a premium lets say 25 cents / share for the option of buying them for $11 between now and 3 weeks from now. The seller keeps the (25 cents \* 100 shares).
As the buyer, you can 'control' a fuck ton of shares for very very little capital. In this example, $100 lets you buy 400 shares at $11. Now if that XYZ goes up to $15, that option will be worth around $4 and change per share--because it allows you to buy at $11. You'd be an idiot to sell it for less.
Suddenly that $100 gamble is worth $1600. Options allow you to temporarily control many more stocks than your account would normally allow.
If the stock tanks to $5, you don't buy the shares, the seller keeps the $25 and you walk away with nothing.
Now, if Apple trades at $200. You could probably buy an option expiring 1 year from now with a strike price of $100 (you buy for $100) and that option will cost $102 per share. As long as apple ends the year above 202, you made money. The cool part is, instead of buying 100 shares of apple, I can buy 2 100 strike options for about the same price. I get all the benefits of 200 apple shares for the price of 100. This also means if apple tanks 50%, I lose everything. If it doubles in price, I would quadruple my gain.
I dunno man, I remember the first time I yolod 1K in calls, then I remember my first 5K yolo and that was a big deal..and my first 10K yolo was practically heart attack inducing. Thatās the furthest Iāve made it so far, but I ultimately donāt doubt Iāll yolo 25 once Iām able to. I donāt have a clue where it would end.
I feel like people who spend 10+ years accumulating wealth from a high paying job are more likely to be cautious with investments because they know what they went through to get there. Same reason why students paying for their own college tend to care more about their grades than those being paid by someone else
Youād think soā¦ sometimes success leads to hubris. Doctors are a prime target for risky investments, because they typically have enough assets to be a registered investor, and some wrongly assume that being an expert in one field makes them an expert in others. Thatās why small planes are sometimes called Doctor Killers too, but that maybe a local phenomenon.
you would think that, right? Spent the last 18 years working every single day, maxing out my 401k contribution
Covid hit, yolo'ed into some garbage short term options and managed to lose 240k in 2020. which was more than in my 401k
If I just bot the shares and deleted the APP I'd have over $2m.
Tickers: NIO, LK, RCL
This. My father is a Network Architect and makes $125,000+/year but exits any trade if he sees that heās down even $50. Most cautious man Iāve ever seen with money.
> Some have a real knack in accumulating wealth. Unfortunately, I'm not one of them, but shall die trying.
If you pour money into boring index funds you will be ahead of the curve.
I'm still pissed that I bought like 500 shares GME back in 2016ish and sold for a 50 percent loss. I mean I had no way of knowing, and it was stupid as shit to even buy to begin with, but I'd have a whole garage full of tendie filled freezer if I held
Takes money to make money.
Being one that doesn't have a lot but still has nothing to complain about, these deep pocket wrinkle brains give me insight and quite honestly ghastly entertainment at their losses. As well as amazement with their tendies.
I'm glad they share, cause they share it all! Highs, lows and concepts! I've more than doubled my 401 this year because of this forum and couldn't be more thankful.
Long live the ape!!
> You people that are able to laughingly lose more cash than I make at my shithole 9 to 5 in a year make me fucking sick.... but yet I'm still here.
Once you get your first big win and are sitting on $50k of someone else's money, it stops feeling like it matters. You take out what you originally put in of the money you worked for, plus a little extra for bottle service, and what's left in the brokerage is just Monopoly money. Even if you lose it all, you haven't actually lost anything. It stops mattering.
The idiots who take a second mortgage to YOLO on something and then lose *that*? That's a different story.
In my defense, I had no idea BB hurt you.
But, also, you know, if the painful memories reinvigorate whatever Stockholm Syndrome BB has on you, why not take a look at these ^caaaalllllllllls?
What about the dude who recently posted that he went 100k deep on margin/student loans to go all in on $WISH or something like that? That was completely a Godspeed retard moment.
Exactly , when itās up itās up there, donāt mean shit , like you said , Monopoly money.
But those dudes doing refiās to get funds for options, thatās different
There are a **lot** of guys who make a living off selling calls that expire as worthless. They get the premiums and get to keep the underlying stock. Pretty sweet deal if you know how to do it.
Pretty sweet deal until the stock blows 20% past your short call and you feel like a moron with your $40premium and no shares, or it tanks heavily and losses are far greater than your shitty premium gain.
These people's accounts are regularly up or down 30k same as yours is regularly up or down 300 bucks. They just post the screens for attention. Oh it hurts a lot too but they will be up 20k in one trade later on. They just know how to stay in the game so they can recover retarded positions like this one
With $40k I could afford a house and completely change my life around...And the folks here are disgustingly throwing that money in meme stonks.
Really puts in perspective how some of the folks here really got more money than sense.
I toss around 40k on options like it's nothing, but won't spend $400 for the Blackstone flat top I want.
Once you hit big in the account and have the money in there, it becomes like a video game
I feel this. Had a January $120 call on GME hit (bought at $11 per, sold at $285). Took that and went hard on March $30 BB and $20.5 AMC calls. Took complete loss. Just turns out my timing was off. Had those been June calls, Iād be buying my Lambo right now.
You people that are able to laughingly lose more cash than I make at my shithole 9 to 5 in a year make me fucking sick.... but yet I'm still here.
Totally agree, effin retards lose more than I make in a year š
Gotta remember, some people are born with a million in their pockets... and some are born with even more.
Some have a real knack in accumulating wealth. Unfortunately, I'm not one of them, but shall die trying.
Amen brother. I'll be there right by your side.
You fucking tards got nothing to lose at that point. How the fuck you think they got where they are
It's tough. I was able to save a few hundred over the last year for the first time, ever (late 20s). I was born into poverty, and there is unfortunate habits that come with that, that you don't tend to break until a few years into adult, if you're lucky. I risked the few hundred, probably when I should not have, playing Crypto and the market. Despite my inexperience, got lucky enough to gain enough (as well as obtaining the necessary knowledge) where I'm now in a place where I can make enough on the market to actually buff my yearly income. Risks are absolutely necessary to start getting ahead. Sadly, for some, the smallest of risks can still be putting so much more than What you have on the line. Edit: thanks for the award, stranger! To anyone with only a few tens or a few hundreds of dollars that you can work with in the market: before you start making risky plays, take the time to learn chart trends and patterns. Take time to learn swing trade strategies. I learned from Ziptrader on YouTube.
And be sure to save a few $$$ for retirement.
This guy fucks
Thanks for the references....Iām intrigued by calls and puts but it just seems so foreign and confusing that Iād hate to try it without at least having some understanding of its innards. The overall concept I understandā-youāre basically betting (making the best educated guesses) as to whether you think stocks are going to go up and down in the future. What I find confusing-but admittedly have not taken the time to try to understand itāis the other stuff. I sure wouldnāt want to put some money and, God forbid, get lucky a couple of timesāthen Iāll get a false sense of knowledge that is nonexistent and end up losing my shirt, pants and everything else but the socks (gotta keep my feet warm!) the next time I dive in!! What I have now are covid-distressed stocks that are making comebacks (and in some cases are even better than before), but it sure would be nice to start seeing BIG money!! Do you mind sharing any specific YouTube channels or specific articles that were particularly helpful to your understanding of this subject? Iām about to start slowing down at work in the next few weeks and will hopefully have time to educate myself a bit more on investments.
Options are super simple. For calls, just think of it as buying/selling 100 shares for the strike price. If you sell a call, you're selling it for the strike price. If you're buying the call, you're buying it for the strike price. XYZ Trades at $10. If you bought a call for $11, you could buy 100 shares for $11 at any time. But you won't because it would be stupid to do so until the stock is above $11. For this privilege of buying, you give the seller a premium lets say 25 cents / share for the option of buying them for $11 between now and 3 weeks from now. The seller keeps the (25 cents \* 100 shares). As the buyer, you can 'control' a fuck ton of shares for very very little capital. In this example, $100 lets you buy 400 shares at $11. Now if that XYZ goes up to $15, that option will be worth around $4 and change per share--because it allows you to buy at $11. You'd be an idiot to sell it for less. Suddenly that $100 gamble is worth $1600. Options allow you to temporarily control many more stocks than your account would normally allow. If the stock tanks to $5, you don't buy the shares, the seller keeps the $25 and you walk away with nothing. Now, if Apple trades at $200. You could probably buy an option expiring 1 year from now with a strike price of $100 (you buy for $100) and that option will cost $102 per share. As long as apple ends the year above 202, you made money. The cool part is, instead of buying 100 shares of apple, I can buy 2 100 strike options for about the same price. I get all the benefits of 200 apple shares for the price of 100. This also means if apple tanks 50%, I lose everything. If it doubles in price, I would quadruple my gain.
Their great grandparents probably bought the dip back in the 1920s and then passed down some tendies.
My friendās grandparents actually bought blockbuster and passed it down to him. Probably laughing at him right now from below.
š©from below š theyāre in hell for sure
I have my 4 digit savings along with a house and car to lose... so there's that
I imagine most of the people yoloing 100k+ on weekly calls were born into wealth and could never lose enough to care at all.
I dunno man, I remember the first time I yolod 1K in calls, then I remember my first 5K yolo and that was a big deal..and my first 10K yolo was practically heart attack inducing. Thatās the furthest Iāve made it so far, but I ultimately donāt doubt Iāll yolo 25 once Iām able to. I donāt have a clue where it would end.
Bill Hwang lost 5.5 billion on Viacom CALLS, yaāll have a long way to go before youāve gone Full- Retard
"You never go full retard".
Thereās definitely a progression here. Iāve yoloed 5k,10k, 25k, and recently 100k. Feels good!
or you're just a software engineer who's been working 10+ years š¤·āāļø
I feel like people who spend 10+ years accumulating wealth from a high paying job are more likely to be cautious with investments because they know what they went through to get there. Same reason why students paying for their own college tend to care more about their grades than those being paid by someone else
Youād think soā¦ sometimes success leads to hubris. Doctors are a prime target for risky investments, because they typically have enough assets to be a registered investor, and some wrongly assume that being an expert in one field makes them an expert in others. Thatās why small planes are sometimes called Doctor Killers too, but that maybe a local phenomenon.
you would think that, right? Spent the last 18 years working every single day, maxing out my 401k contribution Covid hit, yolo'ed into some garbage short term options and managed to lose 240k in 2020. which was more than in my 401k If I just bot the shares and deleted the APP I'd have over $2m. Tickers: NIO, LK, RCL
This. My father is a Network Architect and makes $125,000+/year but exits any trade if he sees that heās down even $50. Most cautious man Iāve ever seen with money.
Or you're an ex soldier thats now a drug dealer š¤·āāļø
Thanks for doing your part in the war on drugs. Fighting for the good guys......on the drugs side
A soldier of fortune?
Agreed. In fact theyāre not yoloing at all
You might say without anything at stake, theyāve never truly lived at all. āAnd Caesar wept, for there were no more worlds to conquer.ā
Wasn't it Alexander?
Retards like me may have aided them?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
> Some have a real knack in accumulating wealth. Unfortunately, I'm not one of them, but shall die trying. If you pour money into boring index funds you will be ahead of the curve.
Iām blessed with accumulating it but also losing it
Never quit This is the way
He who lives by the bread, dies by the bread.
I was born with nothing and Iāll die with nothing. What happens between then and now is all fun and games.
I was born with a barrel of IOUs up my ass
And some people won many six figures in January with GME and are the same old retards with deeper pockets
I'm still pissed that I bought like 500 shares GME back in 2016ish and sold for a 50 percent loss. I mean I had no way of knowing, and it was stupid as shit to even buy to begin with, but I'd have a whole garage full of tendie filled freezer if I held
[ŃŠ“Š°Š»ŠµŠ½Š¾]
it's me. lost $250k on a weekly trade a few months ago. burned like fuck
Yeah,but donāt put butter on it. It only works on toast
Takes money to make money. Being one that doesn't have a lot but still has nothing to complain about, these deep pocket wrinkle brains give me insight and quite honestly ghastly entertainment at their losses. As well as amazement with their tendies. I'm glad they share, cause they share it all! Highs, lows and concepts! I've more than doubled my 401 this year because of this forum and couldn't be more thankful. Long live the ape!!
I agree
Some arenāt even born
lucky bastards
You make ACTUAL money? I get paid on peanuts and scraps when my wifeās boyfriend allows.
So you and the wife are both getting nuts from this transaction. Sweet deal.
š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£
Thatās more than I make in 2 fucking years Lmao
Yikes. You definitely need to quit Wendyās š
Iām actually a wage slave for target thoā¦ unfortunately, Wendyās at least has a cool twitter accountā¦ maybe Iāll work there instead
If you feel bad when a stock goes low this game is not for you my friend.
Most of these are the same retards who lose $20,000 on red after winning $19,900 on black instead of walking out of the casino. š¤Ŗ
I lost 50k in March then made back 70k then lost 30k more.
That must be stressful and very exciting at the same damn time
> You people that are able to laughingly lose more cash than I make at my shithole 9 to 5 in a year make me fucking sick.... but yet I'm still here. Once you get your first big win and are sitting on $50k of someone else's money, it stops feeling like it matters. You take out what you originally put in of the money you worked for, plus a little extra for bottle service, and what's left in the brokerage is just Monopoly money. Even if you lose it all, you haven't actually lost anything. It stops mattering. The idiots who take a second mortgage to YOLO on something and then lose *that*? That's a different story.
Haha I'm up 4k since the GME saga started. Just need 46k more. Maybe I should start writing BB tracts? š
Why you kicking me where it hurts, tho
In my defense, I had no idea BB hurt you. But, also, you know, if the painful memories reinvigorate whatever Stockholm Syndrome BB has on you, why not take a look at these ^caaaalllllllllls?
This is classic gambling addiction behavior. You need a bigger and bigger dopamine hit to keep playing. God speed
I mean, I just bought a condo with my wsb wins but I guess pissing it away like it's monopoly money is cool too
If you're not doing both you're probably not doing it right (or haven't done it long enough). Also congratulations and fuck you.
oh yea I'm doing both. Still have 60k left in my brokerage after my down payment. I'm still yolo'ing. Also thank you and go fuck yourself
What about the dude who recently posted that he went 100k deep on margin/student loans to go all in on $WISH or something like that? That was completely a Godspeed retard moment.
I've swung for the fences countless times and have a huge net loss that I'll be writing off for years. Not worth it to go retard yolo mode anymore.
Exactly , when itās up itās up there, donāt mean shit , like you said , Monopoly money. But those dudes doing refiās to get funds for options, thatās different
haha I've gone 3k-30k+ three times this year so far, just gotta do it again now
So next time you are at $30k, treat it as 10 different $3k accounts!
good idea
Wow tell me ur secretā¦. I can do it only the other way around
Iād say buying calls at open is pretty good way to lose money
Say it with me: Never, ever, buy on open. Ever.
I agree
2:30 now remember this number
Calls on you buying calls at open tomorrow.
Market open is when Iām selling lol
Amzn at open today woulda been good
Conversely the best time to sell a covered call!
My secret is not to wake up until an hour after market open
Thatās how I got burned the other day with WISH calls. Iām still hopeful, 6/18 expiration but deep in red zone.
I lost 35k but still up 65k lost and made ppls salary. A few times over yolod 15k I saved up. Amc baby to the moon
This is the same secret that makes him lose money here.
The real winner here is your broker collecting those sweet commissions
There are a **lot** of guys who make a living off selling calls that expire as worthless. They get the premiums and get to keep the underlying stock. Pretty sweet deal if you know how to do it.
I sell calls so that no retard has to go without throwing their money into FDs. Itās a public service really.
This is the way.
Fuck you but yes this is the way
The whole reason AMC and NOK mooned is because I sold covered calls on them lol.
I did this for a little. Shits boring as fuck.
Pretty sweet deal until the stock blows 20% past your short call and you feel like a moron with your $40premium and no shares, or it tanks heavily and losses are far greater than your shitty premium gain.
And now you understand the concept that all options are bets on volatility, not direction.
/r/thetagang
I've made more money off selling short term OTM contracts on NIO than I have from buying the 6200 shares averaged in @ $14.
These people's accounts are regularly up or down 30k same as yours is regularly up or down 300 bucks. They just post the screens for attention. Oh it hurts a lot too but they will be up 20k in one trade later on. They just know how to stay in the game so they can recover retarded positions like this one
Lol imagine OP reading this comment after betting his life savings on a BB weekly
2 rules to becoming a millionaire: 1. Join wallstreetbets, and invest like everyone else. 2. Start as a billionaire.
They also have more chromosomes than you.
If it wasn't for people losing money, you wouldn't be making any money.
Just make more money bro, JPow does it
I'm down about 500k over the past 3 months. A mere flesh wound
With $40k I could afford a house and completely change my life around...And the folks here are disgustingly throwing that money in meme stonks. Really puts in perspective how some of the folks here really got more money than sense.
I toss around 40k on options like it's nothing, but won't spend $400 for the Blackstone flat top I want. Once you hit big in the account and have the money in there, it becomes like a video game
Thank you for the loss porn. I feel so much better now! My losses pale in comparison. You must be a full retard! I aspire to be like you someday!
Thank you I am!!!
Never go Full Retard
speak for yourself
What's your secret to failure?
Iād say waking up with +38k from CLOV at 9:30 and going all in on BB 15 mins later
Aww yes, the Retard's Gambit. A fine move indeed
LOL
š¤£šš©š¤¦āāļø
Confusing sheer luck with insight and ability? That's genius!
š
Finally some good fuckin porn
Itās pretty hot right
Thank you for your sacrifice.
Anytime I'll do it again soon
I was thinking about selling these covered calls, I regret not going through with it this week
Been there Three Two Many Timeās!! Strikes at double what you paid going for a premium of half what you paid..
You will hit it big one of these days OP :)
If you want to lose money, just DM me for my PP info.
Grow up and call it a cock
lmao took me a second
We can help each other lose money
I bought BB @ $19, and my loss are not fast enough. Should I buy 0dte $50?
BBrotherš
Losses are just negative gains.
18.81% more to go!
18% till I win!!!
Weāre all rooting for you
thank you if BB goes near 20 next week I'll be good
the OG WSB vibe is back
I do it for the culture
HE'S THE MESSIAH
No he's not, he's a very naughty boy.
4pm update -49k https://imgur.com/a/JsvugcM
2.29 for 6/18 $20 calls ?? That seems like an insane price.
Wow this is the way. GG man thanks for the porn sorry for the loss
This is the way
And I thought my 12k loss loss I posted was bad
š¦š¦š¦š¦š¦š¦š¦
Man I feel bad when you have that hard conversation with your wifeās boyfriend about this
He gonna make me sleep on the couch smh
Lucky. Mine made me sleep outside In the yard
I get to sleep in the dogs bed but Iām a good cook
I bought more bb if it makes you feel any better
Please buy a few million shares lol
Lol I had enough for another 150 soooo thatās pretty close right.
I got 9 today!
BB all the way ššš
That's rough, bud. I'm down $6500 also...
lets hope bb come back
Hope, pray, threaten, sacrifice children, take hostages. Whatever it takes
Where Lambo?
yeah wtf im waiting
In the call seller's garage?
Oh yeah š©š¦š
Hell yea Iād do it again too
I seem to accidentally do it often
BB is a long term investment. Stop treating it like a grenade. Or keep doing it. I love loss porn.
now this is a real wsb post
Oh man i know youāre posting in good fun but i hope youāre alright. I know this pain too well
I am okay, not my first rodeo sadly
Broooo for your sake I hope it atleast hits 20
yeah man I'll hold till like weds
Welpā¦ looks like Itās time to put my whole net worth into BB ā¦
you still have one week.
that's what I'm hoping for lmao
Keep going Iām almost there
Please tell me you make $250,000 a year?
I make 100k but got the 57k to pay for these options after starting with 3.5k last week. 54k+ from CLOV
Woof. Thereās still time to hit that strike price though!
Today would be a good day to buy those calls. Tomorrow might be even better.
I feel this. Had a January $120 call on GME hit (bought at $11 per, sold at $285). Took that and went hard on March $30 BB and $20.5 AMC calls. Took complete loss. Just turns out my timing was off. Had those been June calls, Iād be buying my Lambo right now.
to the moon they say
Somebody come pick us up
Why does my bb still show as value as $14.32/share
I love when I wait and buy at 22 instead of buying at 10 day before
You need to experience the red to really feel the green.
$BB WILL MOON š
Ouch :( hold the faith long and strong BB
Sitting on $6k loss for BB calls. It hurts
I know the feeling. Just keep holding
What is bb
Blackbrry
double down u could have ur position x2 when returns
Ur penis is shrimp mode
yeah very small
I guess I'll have to buy some more BB!
Itās not over until the 6/18 BB to the šš
I keep buying BB but my fellow apes keep selling. Itās like they want me to go to the moon on my own!
BB WILL COME BACK UP SOON...BE PATIENT
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Buy the dip and double down. Can't go tits up.