Losing all my money on the stock market

[sam mad hi]

I firmly believe my self worth to be tied to my income. i've tried changing these beliefs but i just can't, no matter what i try, what therapy methods, what spiritual guidance, nothing works. its just the way i think. and its no way to live. Plus, these shitty beliefs defining me makes me a shitty person, because there are plenty of great people who are not materially wealthy. I am just a shit person and I'm doing the world a favor by taking myself out of it. plus, i'd rather kill myself before losing the rest of my money, because i don't think the scumbag hedge funds deserve what little i have.

 

[derekWest]

I firmly believe my self worth to be tied to my income. i've tried changing these beliefs but i just can't, no matter what i try, what therapy methods, what spiritual guidance, nothing works. its just the way i think. and its no way to live. Plus, these shitty beliefs defining me makes me a shitty person, because there are plenty of great people who are not materially wealthy. I am just a shit person and I'm doing the world a favor by taking myself out of it. plus, i'd rather kill myself before losing the rest of my money, because i don't think the scumbag hedge funds deserve what little i have.

How is it possible to loose money now ? I belive that stock market was on the rise ?

So sorry for your situation.

 

[bankai]

Are you day trading or investing? If you're investing, you will win. If you're day trading or trying to do futures or using leverage. Or scalping?I've done all of those and I've lost money on them. However, the stock market always goes up over time. It returns consistently good profits as long as you invest in something like the S&P 500. But it's going to take a bit more time. Yes you can 2X your money in a single month by day trading and then you will lose everything one day.

It's better to look at a good mutual fund that has a good track record. And invest in it.

Do you have another profession and do you invest that income on this as a side hustle or you do this full time?

 

[shiba]

How is it possible to loose money now ? I belive that stock market was on the rise ?

So sorry for your situation.

Seems like he was using options. You can lose money if you buy a short and the price of the stock goes up.

 

[Warriorsfan]

Shit.
Options is gambling on the gamble.
Dangerous...

 

[shiba]

I firmly believe my self worth to be tied to my income. i've tried changing these beliefs but i just can't, no matter what i try, what therapy methods, what spiritual guidance, nothing works. its just the way i think. and its no way to live. Plus, these shitty beliefs defining me makes me a shitty person, because there are plenty of great people who are not materially wealthy. I am just a shit person and I'm doing the world a favor by taking myself out of it. plus, i'd rather kill myself before losing the rest of my money, because i don't think the scumbag hedge funds deserve what little i have.

I know how you feel, it can be hard to redefine your sense of values when they're fixated on money. I think the best thing to do is take a step back. You won't be able to redefine what's important to you if you're still throwing money into this. If it makes you feel better you're competing against giant hedge funds who also underperform the S&P 500.

Shit.
Options is gambling on the gamble.
Dangerous...

It's just as fun and addicting as it is dangerous. I would know since I love crypto

 

[Off_Switch]

Just one of the many games of this pathetic human existence that are put in place to transfer wealth from the 99% to the criminal 1%. Oh well, we can't take any of this money with us anyways.

 

[sam mad hi]

Are you day trading or investing? If you're investing, you will win. If you're day trading or trying to do futures or using leverage. Or scalping?I've done all of those and I've lost money on them. However, the stock market always goes up over time. It returns consistently good profits as long as you invest in something like the S&P 500. But it's going to take a bit more time. Yes you can 2X your money in a single month by day trading and then you will lose everything one day.

It's better to look at a good mutual fund that has a good track record. And invest in it.

Do you have another profession and do you invest that income on this as a side hustle or you do this full time?

i trade 0DTE options during the week, and i have a wage job during the weekends through monday. i already have a good amount in an index fund, but i keep taking from it trying to trade options. i don't lose all the time, but you're right, its very slow wins, and losing my entire month's progress in one day. also, i've tried the 9-5 work life, and that made me want to kill myself in the past. i'm just trying to be happy, but my attachments prevent me from doing that. today i ended up breaking even and even profitting a little bit after i was down $300, but i am completely mentally drained. i end up binging on porn while holding so i don't have to deal with the stress, and that in itself makes me feel like shit. I'm too desparate to make this work, and it feels like i'm way too deep in to quit doing it. sorry, i'm quite disheveled right now, i can't formulate my thoughts properly

I know how you feel, it can be hard to redefine your sense of values when they're fixated on money. I think the best thing to do is take a step back. You won't be able to redefine what's important to you if you're still throwing money into this. If it makes you feel better you're competing against giant hedge funds who also underperform the S&P 500.

It's just as fun and addicting as it is dangerous. I would know since I love crypto

It has me completely roped in, so i don't believe i am able to step back. the only way i'd be able to actually stop is if i stop living. I'll be honest. I really don't want it to come to CTB. :(

 

[bankai]

i trade 0DTE options during the week, and i have a wage job during the weekends through monday. i already have a good amount in an index fund, but i keep taking from it trying to trade options. i don't lose all the time, but you're right, its very slow wins, and losing my entire month's progress in one day. also, i've tried the 9-5 work life, and that made me want to kill myself in the past. i'm just trying to be happy, but my attachments prevent me from doing that. today i ended up breaking even and even profitting a little bit after i was down $300, but i am completely mentally drained. i end up binging on porn while holding so i don't have to deal with the stress, and that in itself makes me feel like shit. I'm too desparate to make this work, and it feels like i'm way too deep in to quit doing it. sorry, i'm quite disheveled right now, i can't formulate my thoughts properly

Do you have to do this? I mean, is this particular thing an addiction for you? I'm not blaming you, I'm asking a genuine question. Because that makes it a different thing altogether. Now, if we're just talking about earning money, I can tell you what I do and it has been successful for me. But it's a pretty long term game.

I personally buy Good crypto coins like link,sui at the bottom of the bear market.For example, I bought link when it was around $5. And sold it when it was around $30. This was recently, by the way. So that's a 600% gain. However, you will have to wait for a couple of years or so to see those gains.You have to hold it and be patient.Also If you DCA in at the beginning of the bear market, it will be too soon. But if you DCA in around three years into the bear market, then you'll be close to the bottom.And you can make life changing money.

If you want to escape 9:00 to 5:00 and actually make money, you can do things like this. What It requires is a lot of patience.

But if you feel you have to take high risk trades to escape the monotony and a mundane life, then that's a different story altogether.That's more to akin to gambling.And you will most likely always lose money this way.

 

[Dejected 55]

Only the banks get free play. Think of the 2008 crash... In a nutshell:

Banks lent money to people they didn't have confidence would pay back the loans (mortgages for the most part). To hedge their bets, banks bundled those mortgages together and sold them to other investors, then shorted (bet against) them. So banks made some money off people who made payments on the loans, then made money again selling those bundles to others AND by betting against those bundles in the market. Then when the market crashed and left others holding the bag... banks cried and said they needed handouts or they would have to fold and completely tank the economy, so the government (i.e. American people) had to bail them out.

In theory long-term investors in the stock market win... but that's not always true. IF, for example, your time of retirement was around 2008 when it all tanked... then you got screwed out of a lot of your retirement and pretty much nobody with any money or power gave one or two shits about you.

Most of the money in the market comes from people at the top. There are lots of media blitzes trying to make you think a good stock market is good for everyone because "most" people have money in it... but it's just not true if you look into it.

I don't have super current stats... but basically, as of last time I looked into it a couple of years ago:

The top 10% in the US own about 93% of the stocks.
The top 1% own about 50% of those stocks.

The bottom 50% in the US own about 1% of the stocks.

That means another 40% in the US own the remaining 6% of stocks.

Think about what that means...Sure, it looks like more than half of the people have some skin in the game... but 90% of the people only own about 7% of the stocks, with the top 10% owning the other 93%... and half of that 93% is owned by about 5% of the people.

In other words... stock market gains really only significantly impact the top 10% of the people. Depending on the distribution in that other 90% who own stocks... i.e. it doesn't mean 90% of the population owns stocks... it just means some portion of that 90% owns the remaining 7%... might not be a large percentage of those who do and even the ones that do, it a small sliver of the whole stock pie compared to that top 10%.

So... the media will butter up people by talking up the stock market... but in reality, 90% of the people are largely unaffected by the market going up or down.

This is how we can have a rising stock market in a crap economy, and vice-versa. The stock market is no better (and maybe arguably worse) than organized gambling. In fact, there is a hell of a lot more regulation and consumer protections in the gambling industry than there are on the stock market if you take a look around.

 

[sam mad hi]

Do you have to do this? I mean, is this particular thing an addiction for you? I'm not blaming you, I'm asking a genuine question. Because that makes it a different thing altogether. Now, if we're just talking about earning money, I can tell you what I do and it has been successful for me. But it's a pretty long term game.

I personally buy Good crypto coins like link,sui at the bottom of the bear market.For example, I bought link when it was around $5. And sold it when it was around $30. This was recently, by the way. So that's a 600% gain. However, you will have to wait for a couple of years or so to see those gains.You have to hold it and be patient.Also If you DCA in at the beginning of the bear market, it will be too soon. But if you DCA in around three years into the bear market, then you'll be close to the bottom.And you can make life changing money.

If you want to escape 9:00 to 5:00 and actually make money, you can do things like this. What It requires is a lot of patience.

But if you feel you have to take high risk trades to escape the monotony and a mundane life, then that's a different story altogether.That's more to akin to gambling.And you will most likely always lose money this way.

patience is not something I have. That's why I'm on the CTB forums and not cultivating patience like a mentally stable person. As far as if I have to do this. It would be difficult for me to stop, because I learned an actual strategy for trading this way, and ive proven that the strategy works with paper money. It's just me getting in my own way every time. The stress is unbearable, but addictive at the same time.

 

[bankai]

and ive proven that the strategy works with paper money. It's just me getting in my own way every time. The stress is unbearable, but addictive at the same time.

By paper money, do you mean that virtual cash that the exchange gives you to trade with? Sort of like a simulation?I've been successful at that too because it's stress free. But when you start using actual money, then you start feeling a ton of anxiety. This will influence you big time because it's an emotional game.

I remember taking a 3X long on Atom once thinking I won't get liquidated since it won't go down by 33%. It did, and I did get liquidated.These markets are brutal. And I've heard that exchanges trade against their customers since they can see our trades. So it's not a good idea at all.

Yeah, it's addicting and the stress is pretty bad. I remember I would keep price alerts to wake me up even when I was sleeping.

I also work a 9 to 5 though. And after losing a certain amount of money, I learned that all this was not for me the hard way. So then I started value investing and being patient. And started becoming successful. I earned back all that I lost and much more. I hope you can eventually get rid of this habit.Earning money is too difficult to lose it this way.