My failed attempt at getting into trading

Submitted by Dull_Ad1955 t3_zyt0jl in wallstreetbets

Everyone seems to enjoy posting “loss porn” here. I’ve been lurking for a long time but thought I would also add my woes to the pot. I got into trading back in 2020 and saw incredible gains. It seemed very easy at the time and my confidence grew. Even with COVID grinding the world economy to a halt, my share prices kept going up. Most of my investments were in tech and at one stage I was almost 200% up! I did take some profit and should have left it at that, but then I decided to dip back in and tried my hand at “penny stocks”. Unfortunately I have a job that required 100% of my attention for several weeks at a time. I saw my stocks rising high again and then foolishly didn’t see the dips and crashes coming. By the time I gave it my full attention I was down several thousand… I decided to leave it and wait for it to bounce back! Needless to say that did not happen. And I never found the balls to pull the plug at a loss. And so I watched those red numbers increase every day… I don’t know if I should realise this loss or hang in there… I suspect I’ll be looking at this account and these red numbers for several years. 😖 Lesson learned (the hard way).

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^^Discord ^^BanBets ^^VoteBot ^^FAQ ^^Leaderboard ^^- ^^Keep_VM_Alive >TL;DR: I bought penny stocks and didn’t watch them, now I’m in a big hole.

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VisualMod t1_j27pujj wrote

>It sounds like you made some poor decisions when it came to trading penny stocks. You should have been more attentive to your investments and taken profits when they were available. It's hard to say whether or not you should sell at a loss, as that depends on the individual stock and market conditions. However, if your goal is simply to get rid of the red numbers in your account, then selling may be the best option.

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interwebzdotnet t1_j27q40o wrote

You are good at trading... You traded your money to someone else for red numbers.

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Multiverseer t1_j27q89t wrote

Umm it'll get better I'm sure... Dunno what to tell you. Yikes. Sorry friend.

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Dull_Ad1955 OP t1_j27qsg7 wrote

Hopefully this post can serve as a warning to anyone new to trading. Do your research, invest wisely and be attentive to your investments. Don’t get cocky and don’t invest more than you can afford to lose. Also don’t base any decisions based on social media advice on investing (except for this advice!) 😂

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ConstructionOk1257 t1_j27r3e3 wrote

Did you fall victim to the atlas trading pump and dump d bags on Twitter?

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Beautiful_Cookie_639 t1_j27rq1q wrote

With 8k, you just need like 2 or 3 Yolo 0DTEs to work out for you on a volitile day and you'll be back to normal in no time

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SulingGo t1_j27sj9c wrote

Everyone has business being in the stock market, it's good for the economy. What no one has business doing, is picking individual stocks.

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parasbyn t1_j27snlf wrote

You got this champ! we still got 8k to lose

show em' whos the boss

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georgejk7 t1_j27wfiu wrote

Man, posts like this make me content with my 2% loss at the moment. Like everything is plummeting in price and people are getting burnt but I've just about hit break even point.

I could buy more but I'm waiting it out. I'm risk off at the moment. My savings account is giving me 7% return annually, I have no need to be risk on at the moment.

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mhotter26 t1_j27zex3 wrote

Should have bought index funds…

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mazarax t1_j28062n wrote

With losses that big, I fully expected you to do stock options instead of stocks.

Congrats, you were not as regarded as I thought.

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hobohill79 t1_j28097l wrote

Looks more like it got up in you Badda bing

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syndoms18 t1_j280dhd wrote

Invest the rest in crypto next year and you will make it back

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Getsmoke1 t1_j280kdb wrote

At least you try and took that chance good luck in the future

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NoAd8953 t1_j288sh6 wrote

You have $8,000 to make everything back, you've come this far don't stop now.

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Dull_Ad1955 OP t1_j28alfz wrote

Replying to Simplevice (#1,175,648)

Hi. This was not options trading, just straight investing. I picked some terrible choices: AAID, ALPP, ARRY, CHPT, CRSP, HCMC, HYLN, NNDM, NIO, WKHS we’re the largest proportion. They all looked promising as they went up and then they all tanked when I wasn’t looking.

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Letters-to-self t1_j28g1xk wrote

This is a very successful attempt at getting into trading and an even more successful attempt at getting out of trading

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MapleFlavourSnowmad t1_j28gbbq wrote

How is this a failure? You still have 8k. This is below mean and average wsb portfolio volatility

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Friendly-Comfort7170 t1_j28gm5w wrote

Is that Trading212? The dotted line shows the capital invested I think. If this is true, at least you've withdrawn quite a chunk of your capital. Could've been much worse if you had let everything in

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bartlannoeye t1_j28ioj0 wrote

You still got 8k left AND you can claim free shares!! Nothing is lost!

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famguy31 t1_j28jkhr wrote

Good rule of thumb is, nothing is ever easy. If it seems too easy there is a catch somewhere. After all if it was easy then everyone would do it and everyone would make it. (Recommend more solid blue chip stocks, MSFT, HD, CVX)

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ApolloTAD t1_j28ju8h wrote

Failed? It looks like you absolutely got into trading, hard!

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gringo_44 t1_j28o0s7 wrote

Failed is an understatement, thats a compete disaster...

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hockinThere t1_j28oonb wrote

Instead of "investments" it should say "speculation"

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Becs_Food_NBod t1_j28ovjt wrote

Replying to Dull_Ad1955 (#1,176,715)

That is a years-long process, so now is not selling time with that strategy. And it's a strategy for stocks with staying power. Some of your top losses just don't have the market history for it. That's a J&J, Ford, Walmart kind of plan.

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Background_Lemon_981 t1_j28pdl1 wrote

So a quality university is over $200,000. You are halfway through the second semester of your first year. You’ll get there.

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gmatic92 t1_j28q80a wrote

You have exactly $8,112.06 before you fail OP.

Chin up, you haven’t failed…yet.

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bestaround79 t1_j28vrok wrote

Oh you haven’t failed yet. Still have over $8k to lose. Hit up u/oneclickyoudie for proper investment tips to make it all back and more

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Steve83725 t1_j28w3qo wrote

Your probably better off spending your money on hookers and coke

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DGriff421 t1_j28ws2t wrote

You truly belong here... Use that 8k wisely and you can easily make a comeback. YOU HAVE TO PAY ATTENTION everyday. If you can't then that 8k will be gone too

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s_mey3r t1_j290msz wrote

I will never in my life understand this...you were at over 100k, why not cash out the profit and continue with the 30k. Of course its easy to say afterwards, but thats normally the common way to do it. If you dont cash out then, you wouldve also not cashed out at 200k or whatever, so at the end you will lose everything anyway

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vasesimi t1_j2916g6 wrote

And you don't even have options on trading 212. Lucky bastard, you would be at 0 with options

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Wooden_Ticket_1540 t1_j294b7w wrote

I can attest lost roughly 35-40k over the span of a year options trading before I spiked it all back in 1 day on 1 call

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macklinjohnny t1_j294z1x wrote

I’m guilty of the same thing. Got cocky and lost it all. It sucks but an expensive lesson learned

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X_Fiery_Jack_X t1_j296bqt wrote

You aren’t done yet still 8K to go, get to it now!

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The_DaW33D_ t1_j297ale wrote

well you were born into a bull market. dont worry youre not the only one. were learning

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itallendsintears t1_j298dot wrote

Sell good dope. The world will thank you. Make heroin great again.

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FromMASS t1_j299o3e wrote

I thought I was pretty savvy during the bull market. I came down to earth with the down market. Lesson learned. 🤷‍♂️😊

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maxwellt1996 t1_j29ao63 wrote

Press get free shares, it’s a money printer

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GravitysFallen t1_j29dwjq wrote

You don’t get into trading into this sub. You get into high risks gambling. If you want to actually trade look anywhere else

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ikebanana t1_j29he9i wrote

Same here - 12000 $ . Wrong time at the wrong place 😃

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usernamesrhardmeh t1_j29i58j wrote

Failed? Looks like you're really getting into the trading to me img

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Salt_Bus2528 t1_j29ifwm wrote

If I don't count the crypto fad I'm only trading sideways and these posts make me feel not so stupid.

If. Big if.

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Klijong_Kabadu t1_j29midq wrote

I’ve been seeing a lot of post like this on the subreddit. Maybe I’m too hopeful, but I’m also down 50%, you guys don’t think holding certain stocks down passed this crash can see positive changes in our portfolios? I started trading in 2020, but I’ve always tried to go long term but I’m starting to get worried.

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justme129 t1_j29qgda wrote

Replying to [deleted] (#1,184,129)

First, they came for my penny stocks and I thought nothing of it.

Then, they came for my large cap stocks, and I didn't speak out because I wasn't all in large cap.

Then, they came for my index funds, and now I'm broke.

Story of my life.

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Christiefresh1 t1_j29s6bd wrote

You will prob sell too like a real sucker. Most people haven’t got the balls just to hold on till the markets go back to normal it’s hilarious really 😆

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Idlesmokey t1_j2a3v60 wrote

New investor here, want to start trading options definitively not at these prices lol but what’s a good game plan or something you wish you’d have known ? Thanks.

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4troglodyte t1_j2a3zwk wrote

A relatively inexpensive education IF you walk away having learned the lesson. Maybe a mindset of getting rich slowly will get you to your destination. Everybody loses some of their bets…if they say no they are lying🙏🏻🙈

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ThetaGangThroweway t1_j2a64jl wrote

Most people around here were into high growth stocks, myself included to a lesser degree. But that only worked due to the Federal money printer which wasn't sustainable.

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rain168 t1_j2a64we wrote

There I was crying “owwie” when I lost 5K 😭

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misosoupracer t1_j2a7num wrote

Invest until your account looks like a bell curve

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dagobert-dogburglar t1_j2afluh wrote

man, if i had $40k to blow it would genuinely change my life. fucking surreal watching people wipe their ass with more than some people’s yearly salary.

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eskjcSFW t1_j2aqnk2 wrote

Do you know why you failed? Because you gave up before at least a 100% loss.

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SpambotSwatter t1_j2aybqs wrote

Replying to [deleted] (#1,177,645)

/u/Bothfvb is a scammer! Do not click any links they share or reply to. Please downvote their comment and click the report button, selecting Spam then Harmful bots.

With enough reports, the reddit algorithm will suspend this scammer.

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thomson603 t1_j2bedm3 wrote

Cash out, invest in index stocks. Take this as a lesson and write off the losses.

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hildyd t1_j2bxd2h wrote

May I suggest not to do this a second time !

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Eastern-Ebb-5085 t1_j2c1ze4 wrote

Just do the opposite of what you think you should do and you will be a billionaire in no time

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Weary-Feedback8582 t1_j2c34ei wrote

You could have been an “investor” and just bought some tech stocks and been in the same position

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AnoopAtl t1_j2c6crl wrote

You did better than me I only managed to get to level -20000, you got to -30000.

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Fibocrypto t1_j2de7rm wrote

You didn't fail to get into trading.

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phoxmike7 t1_j2ethhy wrote

Now all you gotta do is the opposite of what you did lol

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