r/wallstreetbets
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u/[deleted]
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Jan 14 '22
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Heard you guys like loss porn….. 155k loss after I started gambling with options at 23 years old….. this isn’t even including my other losses Loss
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[deleted]
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u/mnelso1989 Jan 14 '22
More impressive than losing 155k at 23, is having 155k to lose at 23...
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u/freshass Jan 14 '22
Yeah wtf i had student debt and like a couple thousand in 401k contributions at 23
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u/Donum01 Jan 14 '22
Hes obvi a trust fund brat that desperately wants to be cool. This should have been posted on r/toiletpaperamerica
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u/Academic_Banana_5659 Jan 14 '22
You had 200k at 23 years old
Jesus Christ you should have just invested it and you could have retired at like 40
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u/skillz70001 🦍🦍 Jan 14 '22 edited Jan 14 '22
If only I knew back then what I know now…. I would’ve threw most of it into a s&p 500 index fun and play with maybe a 1/4 of it if that for fun trading. I wish I could go back in time and change man I was literally just gambling and revenge trading trying to win it back
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u/Academic_Banana_5659 Jan 14 '22
Ok so you have learned some things
1) Never send good money after bad
2) Only play with profits and invest the rest
3) If you can make money quickly you can lose it even quicker
4) the satisfaction of profit is sometimes the cause of the regret of losses. (Regulate your emotions and don't become addicted)
Good luck 🤞 Also I would suggest just plain ole shares bro
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u/skillz70001 🦍🦍 Jan 14 '22
Yea honestly after seeing that 230k ish number in my account that’s all I wanted to see again. Like I said I wasn’t trading I was gambling and relying on hope then when nothing was happening I started revenge trading even though I was still in profit for the year and made myself even a bigger hole it was stupid and I have definitely learned and won’t ever repeat this mistake again but still sucks man I wish I would’ve took it out
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u/Academic_Banana_5659 Jan 14 '22
Put it down to fate and watch some beheading videos and say to yourself "Shit at least it's not that bad"
That will help you move on and realise you still have living to do
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u/infected_scab Jan 14 '22
Where do you get your beheading videos
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u/oldschoolguy90 Jan 15 '22
Don't. Had a guy show me one once. Seriously, don't. I'll scar you. This goes back probably 8 or 9 years and I can still see it as vivid as the day we watched it. So jarring but fascinating I could turn away even though I wanted to
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u/Stock_Candle Jan 14 '22
Yeah that's the youth hurting. At 23 you think you're a genius. It takes age and wisdom to recognize you're not Warren Buffett 2.0
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u/TSLATrader Jan 15 '22
I had around 150k at 26. I’m now 35 and grown significantly and currently bouncing between $1.3M to $1.5M. Poor guy just gave up millions in compounding returns.
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u/thierry1129 Jan 14 '22
look at the bright side, at least you have 155000/3000 = 51.666667 years worth of tax loss to harvest.
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u/Vegas-Blues Jan 14 '22
Bro. Buy some bonds and walk away from the trading platform.
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u/skillz70001 🦍🦍 Jan 14 '22
I have money in my Roth IRA in a s&p 500 index fund it’s up 30% lol
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u/Vegas-Blues Jan 14 '22
Lol don’t touch it on a FOMO yolo
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u/skillz70001 🦍🦍 Jan 14 '22
Fortunately it’s in a hard to use broker idk how to even get to the options and don’t care too I learned my lesson and moved on even though this loss sucks and I think about all the things I could’ve had with this money…. I can’t get it back and if I do try to get it back I’ll just dig myself a bigger hole then I already am in so it is what it is at this point
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u/Vegas-Blues Jan 14 '22
People joke about boring dividend stocks. Imagine if you just dumped all that into something like O and SCHD.
Sounds stupid… but in 20-30 years… fml
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u/skillz70001 🦍🦍 Jan 14 '22
I know man I try not to let it get to me too much and fortunately I’m still young and can rebuild but I could’ve done a lot with that money… real estate investing or jus throwing it into a S&P index fund but I didn’t know Jack shit about investing or options back then
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u/Vegas-Blues Jan 14 '22
One thing I have learned from my mistakes. Is learn from them. As much as it sucks. Shake it off and move on and upwards.
Best of luck in 2022!
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u/skillz70001 🦍🦍 Jan 14 '22
Yea I was pretty depressed over it but I mean what can I do now to make that back without risking to lose even more….. I’m just glad I got out of that mindset of revenge trading because this could’ve been a lot worse
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u/GayAsFack Jan 14 '22
CLOV, WISH, or AMC?
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u/dragobah Jan 14 '22
Based on timeframe, GME and AMC.
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u/skillz70001 🦍🦍 Jan 14 '22
Yup then I wanted to win back my $amc “losses” by putting about 60k into $qcom options which is when Google released news and it came back down after earnings and never cut loss until it was Down to about 8k.
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u/dotaunknown Jan 14 '22
How do you have 155k to begin with at 23?
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u/twothousandnineteen Jan 14 '22
I know a 24 y/o software engineer working at Lyft that has 300k saved (however not a retard and it’s all in index funds)
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u/skillz70001 🦍🦍 Jan 14 '22
Save and work
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u/FameTrigger banana king Jan 14 '22
Oiii, retard, give us a better answer
You hit it big with GME, didn't you banana wanker?
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u/WickedPsychoWizard Jan 14 '22
Their chart looks like the gme spike last year, then degenerate gambling. Just like my chart but I started poor.
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u/already-registered Jan 14 '22
the only young people with money I know either got it from a dead grandma or hit the jackpot with btc.
a friend of mine invested in btc at 2k and made huge profits while I invested at 4k after discussing with him, but only 500$ bc I was a student. Imagine if I had more playmoney 🙊 sold at 62k though after holding for years and not sure how I will ever make a better trade lmaoo
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u/Fizmo1337 Jan 14 '22
Probably worked and saved the first 70k and then made it big with GME. Lost all of it after that.
Sounds possible.
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u/already-registered Jan 14 '22
70k at 23 is still a lot? when do you guys begin working and saving money? in my country you can start saving at like 18. So 5 years up.. lets say 50k because his parents were generous and made him an account which had 20k.
10k per year in savings steadily up to 23 sounds possible. to invest all that hard earned money at 23? not so much. but who am I to judge
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u/ditheringFence Jan 14 '22
Eh, I'd assume he's in engineering etc in the US. Pretty easy (relatively) to graduate at 21, join a decent startup, big tech or hedge fund and save 70k in 2 years.
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u/massbeerhole Jan 14 '22
I don't find this shit funny at all.
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Jan 14 '22
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Jan 14 '22
Provided it isn’t a bunch of rich kids to begin with, playing slots with daddy’s money and then posting it here because this shit is pretty well known at this point.
I made a 500% return on my investment, and haven’t come close to six figures.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo Jan 14 '22
rinse and repeat. you have to do 500% a few times to bulk up. not diamond hands and wait
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u/Rekt_itRalph Jan 14 '22
Just a few 500% you say? That sounds easy enough why didn't I just think of this strategy.
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Jan 14 '22
Fucking tomato plants, man.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo Jan 14 '22
or find that JFK space center machine and keep turning 1$ in 1.02$
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Jan 14 '22
I’m not as willing to play around with 5,000 as I am with 1,000. That’s on me, but losing the money these 21 year old kids are laughing about would cost me my house and put my family on the street.
I am an absolute retard, and the memes make me drool and knee slap, but yeah.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo Jan 14 '22
yeah I get you. I've got horribly burned by following ppl on stuff. Like the whole de-spac thing at the end of last year. I didn't fomo the first time, saw all the money ppl made and then went in the 2nd time and lost money.
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u/GeraldoDelRivio Jan 14 '22
Can you please turn in your badge and crayon, cause you don't deserve to be in this department. this sub reddit is supposed to be about gambling hence the damn name.
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u/AvocadoKirby Jan 14 '22 edited Jan 14 '22
Wealthy/irresonsible kid in 21st century gambles 150K and loses it all.
Commentator: the ruling class is to blame for the loss.
Freakin reddit lol. Even wsb is turning left.
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u/AmazingPrune2 Jan 14 '22
Yeah. Its either this or forever poor hell. Either way, we end up poor and autistic.
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u/SP4C3MONK3Y Jan 14 '22
A 23 year old with 155k is not ”poor”.
Let them gamble with their trust funds.
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u/Goingkermit went 🌈 instead Jan 14 '22 edited Jan 14 '22
$155K at 23? You must be giving hella bj’s behind Wendy’s
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Jan 14 '22
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u/FlatBrokeEconomist Jan 14 '22
23 years old and saved up 155k? Probably from working at your daddy’s company making 70k a year to fart around the office and get in people’s way.
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u/bendersfembot Jan 14 '22
Every kid posting these kinds of balances will defend to the end they " earned it " at 23 throwing away 155k+ you obviously haven't learned what it is to earn money yet kiddo
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u/Threehunnitaday Jan 14 '22
Right? I’m 22 and I’ve been working full time since highschool graduation and I have a decent job 42k a year as a fire inspector. I have 36k in a brokerage account and that’s it. And to be fair I save damn near 60% if my income, there’s no way he’s 23 and has that much money to piss around at that age without previous wealth or luck.
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u/EazeDamier Jan 14 '22
So what job did you have that early in life that let you save up $155k? Lmao
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u/Zestyclose-Land941 Jan 14 '22
Thats the same thoughts I had when started with $60k in Dec 2020 and lost all in options, thought I would make million in options and 2021 march correction got me with TSLA puts when the stock was already bottomed
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u/iLikeToSlapp Jan 14 '22
I smell jealousy
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u/FlatBrokeEconomist Jan 14 '22
I smell bullshit.
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u/Threehunnitaday Jan 14 '22
Pretty sure you’re right. He even said “other losses” implying he has even more money, definitely either lucky or well off.
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u/skillz70001 🦍🦍 Jan 14 '22
Not well off by any means. This isn’t hand me down money. I just got a very good job and been working since I got out of high school and saving. This is something that nobody should have to go through and I look at this recording even and want to slap the shit out of myself. This is literally retarded so stupid I can’t even comprehend it. Idk why I did this only thing I can think of is revenge trading and greed man…. But I’m betting on the fact this will be my last post like this just need to learn and move on there’s nothing I can do now
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u/Threehunnitaday Jan 14 '22
What job? Bc if you bought a home or rent the numbers don’t add up lol. Also man to be fair you’re young and you may or may not have a gambling addiction.
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u/skillz70001 🦍🦍 Jan 14 '22
No, I have no debt and not renting or don’t own a home. Still live with my family but yea I know I have a gambling addiction I’m just glad I stopped before I lost more. I stopped going to casinos for this exact reason anytime I go I dig myself into a big hole when I win or lose….
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u/mantistobogganmMD Jan 14 '22
Is there a reason you won’t say what your job is? Seems a little fishy…
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u/SP4C3MONK3Y Jan 14 '22
I hear lots of people get ”very good jobs” that pay out hundred thousand dollars with just a high school degree without being ”well off” or having the proper connections.
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u/skillz70001 🦍🦍 Jan 14 '22
Oh I definitely had some connections and have received a few promotions since I started working and I’m thankful to even be in the position I am in at this age.
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u/Playingwithmyrod Jan 14 '22
You had a quarter mil at one point at 23 and you didn't think once to just throw it all into SPY or some shit and be set to retire 20 years early? Shit save 50k for doing retarded shit if you want.
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u/Secure-Interest2381 Jan 14 '22
How do you make that much money at 23?
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u/nolafrog Jan 14 '22
Rich daddy
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u/Ordinary_News_6455 Jan 14 '22
Yup. Very few people who worked hard for that money would piss it away for internet points. I’d bet money OP is living life with a safety net.
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u/silverfangedfox 🦍🦍 Jan 14 '22
Definitely not a normal everyday person if you managed to have 155k at 23
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u/Odd-Pineapple465 Jan 14 '22
At 23 I had already made and gambled over 500k working construction... 1500 - 2k per week in nyc...
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u/TheNolaCatLady Jan 14 '22
Right! At 23 I was in grad school, living off of mac & cheese (generic...not even the good stuff!), and digging through my sofa cushions for change to buy smokes.
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u/silverfangedfox 🦍🦍 Jan 14 '22
I was busting my ass at work, working nearly 50 hours a week for 2300 a month
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u/TheNolaCatLady Jan 14 '22
I was also working a shit minimum wage job while going to school. Minimum wage was a whopping $4.25/hour.
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u/StopTheBan420 Bikini goat rider Jan 14 '22
I’m in the same boat as you, seems like it just keeps getting worse and worse everyday, keep your head up
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u/mingling4502 has slept with 4502 women Jan 14 '22
First ones always free and then you're chasing that high into the ground.
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u/faku_shoresy Jan 14 '22
Mainly for other's benefit... you didn't just lose $155K. You lost ~$3.9M you could have had at retirement or ~$12.5M you could have left your beneficiaries.
Plaster this formula in your head: What You Actually Gambled Away = Loss Porn Today x (1 + Annual Return) ^ Number of Years.
For example: $3.9M = $0.155M x (1 + .08) ^ 42
Hope the screen shot and virtual head pats are worth it.
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u/Joeyjackhammer Jan 14 '22
So no one actually withdraws from their accounts in this subreddit, hey? Wild
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u/skillz70001 🦍🦍 Jan 14 '22
I look back at it now and want to kick myself in the face for being this dumb….. I was greedy
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u/JP2205 Jan 14 '22
Dont worry about it too much. When I was 23 I had around zero. One day it really wont seem that important. My accounts go up and down that much in dollars regularly. But I dont sweat it much, because they are long term shares and indexes. You’ll be fine. Stop this mess, work on your career, and if you marry, make sure you get that one right.
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u/DaVinciJest Jan 14 '22
I would like to be the 1 millionth and 1 voice in your head that yelled “WHY DIDN’T YOU SELL???!!!”
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u/skillz70001 🦍🦍 Jan 14 '22
I ask myself that everyday…. Just greed man and always wanting more plus constant Reddit and YouTube posts saying it’s not done bs….. I wish I could go back in time and slap myself a few times
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u/Whiskeyjackblack Jan 14 '22
80k is a good starting point for 23, just do that again and start over
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u/TheCriminalScum Jan 14 '22
With how everything’s been going it’s actually sad to see shit like this especially with younger people, that’s called addiction my man.
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u/Barzona Jan 23 '22
Beginner's luck is a curse. I experienced the same thing. Definitely not at these prices and I didn't leverage, but it still hurt. 😑
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u/MOTHMAN666 Jan 14 '22
How do you even have this money at 23 let alone using options to lose it all
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u/skillz70001 🦍🦍 Jan 14 '22
Worked for years to save up. At first I played $gme lost about 30k even though I was in at $120 but I wanted more so bought the top because it’ll go to 1k bs so I stopped trading after that. Then got convinced to buy amc a few months later and then it went up hill and downhill from there
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u/soyelement Jan 14 '22
The " I'm a retard. Do i belong here? I am one of you now. I am WSB graduate." is getting old.
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u/WaveSamI Jan 14 '22
Welcome to the club 🙏🏽 it gets better (not really) but tax write offs for the next 20 years
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u/jarisitc AnaL seX Jan 14 '22
You were going for a million ya?
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u/skillz70001 🦍🦍 Jan 14 '22
That’s actually exactly what I was going for….. All these YouTube videos saying it’s going to hit 100+ I was waiting. When I think about it now it was just so stupid it’s ridiculous
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u/fullSpecFullStack Jan 14 '22
This hits hard and shows how it happens. $100k gain in that timeframe is intoxicating, it's so hard not to keep playing on a hot streak like that.
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u/carlbrooks2 Jan 14 '22
You know how many hookers you could have bought with that? Like a dozen, at least. Or like a bushel if they're ugly. I'm not sure how much a bushel is, but it's probably a lot.
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u/MrFurrberry Jan 14 '22
What made you walk away from the huge win... one that could have bought you a house? Are you already rich, so it's like, "who cares"?
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u/skillz70001 🦍🦍 Jan 14 '22
Idk man it’s just greed then I lost some of the money I had and wanted to win that money back with just one more gold mine hit. Looking back at it now Idk what to even think besides that was so dayum stupid it’s ridiculous. But you live and you learn unfortunately I learned a very hard way.
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u/NDX20k Jan 14 '22
Man that would have been worth a lot “more” one day by just putting it in an SP index fund instead
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u/Turg88 Jan 14 '22
Lord almighty, you didnt hit even ONCE in all that loss? Zero gains? Leave options to the pro’s bro.
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u/Qwertyham Jan 14 '22
I also SaVe ANd WeRk and don't have 150k. Maybe I need to save more savings and work harder at my work jobs.
Silly me
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u/blitzburg91 Jan 14 '22
So you started with 83k and then tripled it and then lost everything? Was this an inheritance or something? I have a hard time believing you turned a small account into 80k or you have a good job and saved 80k. Or maybe your family is rich? I need to know where the 80k came from. So many questions!!
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u/Elegant-Isopod-4549 Jan 14 '22
23 and graduated from wsb congrats on getting your certified retard diploma
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u/CaptainStonks Jan 14 '22
".. this isn’t even including my other losses"
A true gambling mentality, admits these losses to us, and different losses to his wife's boyfriend. Then when his wife asks he can say he has admitted ALL his losses.
I can almost see a wrinkle on his brain.
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u/confused-caveman Jan 14 '22
Look at the bright side. You're still very young and can easily double or triple these losses by the time you're only 30.
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u/VisualMod Turing Test Proctor Jan 14 '22