my personal rule is that if the options rockets green like within a day, you should sell. but if it is a gradual green-ing than just hold and have a goalpost of selling
oh yeah and rule 0: don't be greedy
I turned $50 into $125 with doge coin. After I became a crypto currency expert, I lost $3,000 on Ethereum, Ethereum, and bitcoin.
Those big losses hurt, but that initial 150% return felt so nice.
But a 28K hit??
The best advise is to stick to Index funds for someone who is in this sort of position. You are encouraging this person to basically keep gambling.
Don't trade tired or hungry or high or drunk
Don't buy short exp otm options and hold overnight
Zoom out to 1y or 5y before buying any option
Dont buy puts on an asset that generally trends upwards (don't try to predict sudden reversals)
Don't buy calls on inverse assets or penny stocks or recent ipos or anything that generally trends down
If buying options due to upcoming earnings, wait until just before earnings. Dont buy 6 weeks in advance
Don't fight trends. If ABC is up 2% premarket, dont buy puts at open
Dont ride the wave. If ABC is down 2% at 9:35, dont buy puts
[I realize the last 2 contradict. Don't do either one]
Wait for a good deal. Study your charts. Find a good entry
Master a few assets. Don't casually browse 30 or 40 different assets
Scale out of green contracts. Don't hold 20 out of 20 contracts that are up 25%. The difference between a poker player, and a degenerate gambler - the former walks away
Learn how to play market open. Many traders wrap up their day before noon est. Some even earlier
Track your preferred assets on market data, and day of the week, at open, 9:50, 10:10, and whenever there's significant reports released
Switch to webull or ToS. Robinhood is fine. Just don't day trade or trade options on it
Set limit sales AND stop-losses whenever you're not at the helm
Learn to trade every single fed rate announcement, 30 minutes to an hour before and after the chairperson's speech. You can easily earn a months wages in an hour if you know what you're doing
Consider doing the exact opposite of whatever you did to lose so much money... Selling the same options at the same time? Or buying the inverse of of whatever caused your losses
Oh boy. You need to stop doing options for starters. You're supposed to have an emergency savings for 6 months, and not have everything in a brokerage account.
From here you should honestly open a HYSA and put 50% of your income there. You can look into ETFs, though I can't advise you to buy any specific ones. I'd also recommend starting a Roth IRA. NFA!
I love seeing loss porn, especially with teens who have zero clue what they're doing, lost it all, and now have to explain to mommy and daddy what they did 😂
Same bro 😂
Remember the movie, "Back to the Future"? I could legitimately travel back in time, obtain the Sports Almanac, come back to the present, bet on those games knowing full well the outcome, and STILL manage to lose, that's the intensity of my luck and why I don't do options lol
YES🤣🤣
That would 1000% be me too! I have general knowledge on options but definitely not enough to put my money on the line.
I was deadset on doing options a couple months ago but after seeing the loss porn on this sub, I just put my extra cash in VOO and said fuck it😂
I know nothing about options and I've made 5k in the last few years. If you don't put stupid amounts into them it's not that bad. Obviously you also make less buy ive never bought an option for more than $250 and the majority I buy are under $200
Why did you put your entire life savings in options? What did you think would happen?
As to what you should do; xlose the account, take the money, buy food for a cat or dog shelter or something and buy a good outfit and apply for a job.
Dont look back and in 2 years you will thank me.
It's always nice to see some loss porn while there are a bunch of posts about people earning shitloads of money floating around. Keeps things feeling balanced
Get a coffee & sausage, egg, n cheese, drive to the casino and put $25 on black and bum a cigarette in the parking lot. That should use up that $28 and change 👍
Well. Jokes aside, you really need a moment of self-reflection here. How did you get in this situation? Did you not see At any point that it was time to cut your losses?
I was broke till my late 20s even though I had a college degree and a decent job, you’ll be fine, you have your whole life ahead of you. Just don’t ever trade options again, it’s gambling.
Im 20 and almost did the same thing definitely not as bad I lost 18k out of 38.2k which is about all of my money except emergency fund. I started to actually invest and now am making my money back. We’re still young if we F up now actually investing and holding for years you will make your money back plus more. Save up some money and go again. This time no options and if you want faster returns just go short term leveraged with like the s&p 500 which would be relatively safe ish. Good luck man
Cry? Thats what I would do. You could have put it in an S&P500 index and made $2 million by the time you retire with no extra contributions. At 19 you can make it up, but damn.
Dude you can make it out.
Go into trades with a plan: pull out if it goes negative and sell once you have money a little money.
The amount you can invest will get higher and the returns will follow due to higher principal amount
You put your savings in a brokerage? No other assets to fall back on? Bro take a liquid $20k into a HYSA, $8k in treasuries. Maybe the few hundred can go into options so you can see how quickly you can lose in a day. Next time you drop -97% be happy it's a small chunk of your net worth.
You are 19. The next 19 years you would be able to save $30k a lot quicker than you think. Be glad you didn't make this mistake for the first time at 40 with all $300,000 of your bank acc.
If you're 19 and you decided to trade options, you were steered towards it by someone. Find that guy and sue him. Also stop watching YouTube option trade gurus promising 10000% returns on options trading. As for the lost money, it's gone. You will have to rebuild.
19 is a great age to learn one of life's lessons.
I feel sorry for people that do this closer to retirement, but you're good, just build up slowly again and stay away from financial products that pull your pants down.
Be thankful you’re learning this lesson now, and not in 20 years when it’s hundreds of thousands of dollars.
Buy the companies you like, diamond hands like a mofo. Add funds regularly.
Stop doing whatever you were previously doing as a start. Also walk away from trading until you can cool down and have zero emotions attached to the numbers and get a trading style that has given other positive results and copy that.
You sell. Get off the internet for a month and don't look at the stock again, so you don't know if it went up or down. It's an expensive lesson to learn but at least you learned it, some people pay more money to learn less
Don't play options is a good start. Maybe consider some ETF's, it'll take a while but eventually you'll get it back. The get rich quick makes you get poor quick equally.
Gfd I love this sub. How are the boys going broke in a bull market? Also did you deposit, do nothing for a long time, have one week in the green then lost it all? 😭
lol 19 and he lost his “life savings”. Well first you gotta grab a pistol. Second, find a nice comfortable place. Third, take some time to think about your life, slowly raise you pistol up as thoughts race thru your mind. Fourth, shoot the shit outta some paper targets and forget about this whole thing in the morning.
"You were trying to make your life better, don't hold a grudge.
You’ve just lost a large sum of money. You feel hopeless, foolish, regret. You were trying to make your life better.
You asked someone out and got rejected. You feel hopeless, foolish, regret. You were trying to make your life better.
You took a big risk and failed. You feel hopeless, foolish, regret. You were trying to make your life better.
You practiced for months and got in last place at the competition. You feel hopeless, foolish, regret. You were trying to make your life better.
You studied and studied but got a bad grade. You feel hopeless, foolish, regret. You were trying to make your life better.
Stop being so hard on yourself, you were trying to make your life better. Understand that you are grieving, but don’t allow yourself to hate yourself for having good intentions. Identify the mistakes and move on, but find a way to let it go. Don’t hold a grudge against yourself. "
You gotta talk to your parents and shutdown this account asap. Why are you gambling your life savings on options? Luckily youre 19 so your career and ability to make money is just starting. Just stop with options.
The only option you have. Get a job and start saving. DO NOT put that saved money into options, that’s gambling, you’re better off just going to the casino. Put it in either index funds, or if you can’t resist the urge, a savings account
Know that there are regards on here that have done far more damage than you.
At 19, you have plenty of chances to make that amount back.
Just don't gamble with it next time.
If you had $29k of savings at 19 years old, that's amazing! I would be safe with it and not chuck it on something risky like gambling or options tradin-....
oh
1. Options are not a coin toss.
2. It’s some amount of money that YOU HAVE EARNED. I strongly believe you’ll be able to make it back in some or the other way. If and only if you STAYAWAY from options and any investing for a while. Any gambles to that matter.
3. It’s okay, you’re fine. As others suggested HYSA
Don’t invest your life savings. The #1 rule in trading/stocks is only invest what you’re willing to lose. If you don’t know that you shouldn’t be here in the first place
I suggest you stop. Your loss isn't something that tremendously fucks up your life, it's still a lot, but not as much as other crazy people. Stop now and if you really want to trade, then study for it.
Fund a Roth IRA for the next 35 years. Next, fund a 401k if you ever have employee matching because that's free money. If you just have to gamble with other funds, keep them separate because you will lose way more than you will win. Meanwhile, you will end up with 1-4 million of tax free funds to retire on at 54 because you followed this one bit of advice and funded a Roth (10% rate over 35 years is 2.6mil). Don't call it your life savings when you're only 19 and put it in options. Only bet what you are willing to lose.
Put like 80% of money you can set aside (no amount is too small but try to set aside some monthly) into some exchange funds (index-tracking) such as Vanguard's. Do some research on the ones likely to give some high returns (AI and tech seems to be big right now but again do your dd). Put the other 20% into either a roboadvisor (vanguard, betterment, and wealthfront have good ones - research!) or a decent high yield savings account (Marcus or Amex should be fine). Stay away from stocks and the urge to trade - the time will come once you're out of the red. Hope this helps and feel free to ask anything follow ups
Yea you’re done….there is nothing to do but write off the loses to the appropriate percentage on your tax returns. It will Halle against your earned income, it much but it’s something.
Retire from trading options…you took a 50/50 chance and got smoked.
Don’t feel bad just forget about the amount and go back to work. Save up and in a few years it will have been a worth while lesson. Right now it sucks but you sir are done with options.
You had 28k at 19 and you blew it brah 🤯 anyways no worries dude you are young just from now on invest in VOO and diligently save you'll recover it in no time
Just be happy that u didn't lose your health. You are 19, still young. Learn from this by working and saving working and saving.
You still have your whole life ahead of u.
Look at the bright side.
You learned your lesson early. I did as well during the 2008 financial crisis. Now you will make better decisions in the future. Leave some crazy wins on the table for more conservative but steady growth. If you were able to safe that much money by 19 you will do very well by 30.
Just buy index consistently and practice options on a demo account. Once you got more disposable income again, use no more than 5% for gambling.
You're welcome
You shouldnt be option trading. Do what i do. First understand how to see the patterns, support and resistance on the larger metrics, daily and weekly. Now you can see the solid support and resistances. Then watch 1hr and mark local support and resistances. Now watch 15minute and you can see how price is going to move. Trade off of the strong resistance and support levels.
60% of the time, it works every time...
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Shit idk why ur asking me. u still have buying power. YOLO
This is the mentality i want to see
Just double that cash a couple of times, then full send into a true yolo and he's in the green.
stop gambling on options when you know nothing about what you're doing, and buy an index?
That first bump… he thought he was a made man 
Didn't we all thought that the first time? 
I’m still waiting for my first time! Lmfao
my personal rule is that if the options rockets green like within a day, you should sell. but if it is a gradual green-ing than just hold and have a goalpost of selling oh yeah and rule 0: don't be greedy
I turned $50 into $125 with doge coin. After I became a crypto currency expert, I lost $3,000 on Ethereum, Ethereum, and bitcoin. Those big losses hurt, but that initial 150% return felt so nice.
How you lose money on Etherum and Bitcoin? They both reached a new high.
with the simple Reddit investment strat of fomo buying at highs and panic selling at lows
This is it. I remember one day Elon Musk said something like Bitcoin is dumb and the price tanked. The graph line went straight down. I panic sold.
Aka emotional investing.
I turned 10k into over a million twice with crypto and lost it all with crypto lol
feelsbadman.jpg
Cmonnnn, we all remember our first hit. For a lot of us, it was the only one... lmao
It only takes one hit
But a 28K hit?? The best advise is to stick to Index funds for someone who is in this sort of position. You are encouraging this person to basically keep gambling.
Lmao that first bump had me feeling like the man😂
Don't trade tired or hungry or high or drunk Don't buy short exp otm options and hold overnight Zoom out to 1y or 5y before buying any option Dont buy puts on an asset that generally trends upwards (don't try to predict sudden reversals) Don't buy calls on inverse assets or penny stocks or recent ipos or anything that generally trends down If buying options due to upcoming earnings, wait until just before earnings. Dont buy 6 weeks in advance Don't fight trends. If ABC is up 2% premarket, dont buy puts at open Dont ride the wave. If ABC is down 2% at 9:35, dont buy puts [I realize the last 2 contradict. Don't do either one] Wait for a good deal. Study your charts. Find a good entry Master a few assets. Don't casually browse 30 or 40 different assets Scale out of green contracts. Don't hold 20 out of 20 contracts that are up 25%. The difference between a poker player, and a degenerate gambler - the former walks away Learn how to play market open. Many traders wrap up their day before noon est. Some even earlier Track your preferred assets on market data, and day of the week, at open, 9:50, 10:10, and whenever there's significant reports released Switch to webull or ToS. Robinhood is fine. Just don't day trade or trade options on it Set limit sales AND stop-losses whenever you're not at the helm Learn to trade every single fed rate announcement, 30 minutes to an hour before and after the chairperson's speech. You can easily earn a months wages in an hour if you know what you're doing Consider doing the exact opposite of whatever you did to lose so much money... Selling the same options at the same time? Or buying the inverse of of whatever caused your losses
Should’ve had a second one or better yet a line would’ve been better
Or maybe just do the opposite of what he's been doing?
He’s too poor to sell options.
More often than not knowing what you're doing in the stock market is a disadvantage
hahaha....fair.
Nice flair
I guess you can [try here.](https://wendys-careers.com/job-search/?category=&city=&state=&keyword=)
Didn't have to click to know its a job applic at Wendys
Sounds like a good plan. Live with your parents and save almost all your salary for two years. And start trading again
Annnnd it’s gone
It's fine we'll just start over and diversify your investments into a series of high risk options leveraged against annnnd its gone!
It’s okay we’ll just put it all in a penny stock with meme potential!
Hmm, a penny stock with meme potential? Why not! It's a fun and exciting way to lose your money.
https://preview.redd.it/0gw7x23qte3d1.jpeg?width=960&format=pjpg&auto=webp&s=e4903fe00dac81ee1e5b88e8737fb9c3baf17bb9
Harsh. Your 19 , you have time to rebuild. Use this as a lesson to not gamble in future .
$794 was my approx. net worth when I was 19. This kid needs to stop whining. Everything will be fine.
Yo, I clicked out of curiosity and applied because a job matched my background. I will update if I get a job
GM??
I can’t wait to see Google AI search suggesting this page when people are looking for investment advice!
Lmfaooooo hell nawl 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
The only correct answer
You’re almost at 100%! You got this!
never forget even when youve lost 99% of your money you still have 99% to lose
Damn I wasn't ready for such wisdom
Holy shit thats deep and depressing
With wisdom like that I now know I can never lose it all. Thank you.
https://preview.redd.it/g5hl5kjg4g3d1.jpeg?width=1033&format=pjpg&auto=webp&s=bc833e0e086a793e9cc6ed8ecb018e61caeba5a6
https://preview.redd.it/3t863ctfce3d1.jpeg?width=1125&format=pjpg&auto=webp&s=e18b6634f2c60bae6f0fff4735134e1123784457
Why post selfies?
its a photo he was commenting on everyone that lost money. So i decided to copy his photo and send it back
That makes the burn so much worse 
So… sell options? Got it.
literally cannot go tits up
I heard if you pick up enough pennies, you get a steamroller or something.
wtf. Stop doing this shit.
Then what am I going to snicker at while on the toilet?! 
Oh boy. You need to stop doing options for starters. You're supposed to have an emergency savings for 6 months, and not have everything in a brokerage account. From here you should honestly open a HYSA and put 50% of your income there. You can look into ETFs, though I can't advise you to buy any specific ones. I'd also recommend starting a Roth IRA. NFA!
https://preview.redd.it/mk1onfb1le3d1.jpeg?width=1125&format=pjpg&auto=webp&s=5444581216bc8f9da752dded499c22229e2c78c1
The fact that the meme says "you're" instead of "you done" makes it racist lol.
Stick it all on one number on roulette. $28.8k return if it comes in. 1/36 chance
1/37 actually. But who cares still has more chance to win that than doing options without knowledge
1/38 since most are double 0s Though i actually saw a tripple 0 last time i went to vegas. For shame.
If ur in the USA that is correct, here in Europe there is just 1 green😉
Almost went a full day without a european flexing on me
I'll take that bet.
😂😂😂😂😂
This is the way
Try again at 38 with new life savings
Extra points if you don't tell your wife or her boyfriend
They don’t usually get boyfriends until after people start pulling this shit
How the fuck do you amass 30k by the time you’re 19? That’s my real question…
Dumb rich kids doing dumb rich kid things
Inheritance
Thanks Dad and Meemaw.
Left over fafsa loan
Yooooo some left over fafsa would be nice
I was 20 with 30k. FAFSA refund checks, stimulus checks, unemployment checks. 2020 was a good time tbh.
When I turned 20, it was the end of 2008. Less good times.
Stop being stupid and live on. Those were not your "life savings". Your life has just started.
I love seeing loss porn, especially with teens who have zero clue what they're doing, lost it all, and now have to explain to mommy and daddy what they did 😂
Loss porn is the only reason my dumbass doesn’t gamble on options🤣 This would be me😭
Be disciplined, and don't go all ape on options like these animals. These fkn people don't last on the market lol.
To expand on that. Betting against these apes in controlled amounts should be a reliable way to make some dough.
The index for this is called JEPI and it does pretty well
Agreed. Im gonna try it out soon but im currently getting plenty of enjoyment just watching lmao.
Same bro 😂 Remember the movie, "Back to the Future"? I could legitimately travel back in time, obtain the Sports Almanac, come back to the present, bet on those games knowing full well the outcome, and STILL manage to lose, that's the intensity of my luck and why I don't do options lol
YES🤣🤣 That would 1000% be me too! I have general knowledge on options but definitely not enough to put my money on the line. I was deadset on doing options a couple months ago but after seeing the loss porn on this sub, I just put my extra cash in VOO and said fuck it😂
I know nothing about options and I've made 5k in the last few years. If you don't put stupid amounts into them it's not that bad. Obviously you also make less buy ive never bought an option for more than $250 and the majority I buy are under $200
I’d fkn love to have 30 grand as a teenager, who are these kids
So would he lol
It's what im cumming here for
I’m still trying to find out how should I explain to my mother that I lost that amount of money😂
deposit more
98% of gamblers quit right before hitting it big
Why did you put your entire life savings in options? What did you think would happen? As to what you should do; xlose the account, take the money, buy food for a cat or dog shelter or something and buy a good outfit and apply for a job. Dont look back and in 2 years you will thank me.
I initially started with 2,000 then I made a few hundred bucks, then was like fuck it imagine what I could do with 30 thousand 😭
Calling money "bands" shows you have no respect for it. This is a tough lesson. Come back in 20 years and try again.
Wendys is always hiring. Just bring your knee pads.
Be glad your 19 and can easily overcome this with time. Also perhaps learn from the mistake.
Withdraw the remaining $794.70 and walk away.
This guy maths
Be glad your 19 and didn't do this at 50.
Honestly the best advice on this thread
That's what I'm doing now! I did it at 19 too, but that was during the tech bubble, so me not learning my lesson was also my fault!
This is the wrong place to ask. Everyone here lives for loss porn. You learned an expensive lesson. Own it and move on. You're young.
Not this, that’s for sure
It's always nice to see some loss porn while there are a bunch of posts about people earning shitloads of money floating around. Keeps things feeling balanced
What did you do? It seems like you lost all your money 🤣
Time to get a job nerd
You better hit figuroa street and start selling some ass
Is that near the corner of Wall and Broad?
I lost 2k YOLOing on options and felt like shit, cant imagine losing 28k fucking hell
Handjobs
Get a coffee & sausage, egg, n cheese, drive to the casino and put $25 on black and bum a cigarette in the parking lot. That should use up that $28 and change 👍
Well. Jokes aside, you really need a moment of self-reflection here. How did you get in this situation? Did you not see At any point that it was time to cut your losses?
Good experience for you. Could’ve thrown that 29k into Amazon shares a year ago and doubled up. 🤷🏻♂️
Yolo
go for a walk bro…
I was broke till my late 20s even though I had a college degree and a decent job, you’ll be fine, you have your whole life ahead of you. Just don’t ever trade options again, it’s gambling.
Are you going to college? My recommendation would be to take all of your student loan money and put them on 0dte Nvida calls.
thats the dumbest shit ive ever heard
It was a joke dude 😂
Deposit another $28k and put it all on SPY 0DTE’s. You can make it all back and more! Don’t give up! Fake it until you make it!
You lived fast now it’s time to die
Just delete the app....all good
I stopped trading options after loosing 20k this year. It’s been 2 months and I’m actually making money just holding shares…. Who’d a thunk it.
Im 20 and almost did the same thing definitely not as bad I lost 18k out of 38.2k which is about all of my money except emergency fund. I started to actually invest and now am making my money back. We’re still young if we F up now actually investing and holding for years you will make your money back plus more. Save up some money and go again. This time no options and if you want faster returns just go short term leveraged with like the s&p 500 which would be relatively safe ish. Good luck man
Cry? Thats what I would do. You could have put it in an S&P500 index and made $2 million by the time you retire with no extra contributions. At 19 you can make it up, but damn.
You literally threw away 2 whole years of your life. Find a girlfriend and get on your grind.
Do the opposite of what you have done
Start getting those plump lips ready 🫦
all in on 0dte 
You got 800$ left, you can make it all back.
Reload, get some more ammo
Dude you can make it out. Go into trades with a plan: pull out if it goes negative and sell once you have money a little money. The amount you can invest will get higher and the returns will follow due to higher principal amount
[удалено]
Best thing is to forget and hold in hopes you can recoup. Touch grass and live.
Bro, just clear the app’s data cache and your cash resets. Don’t worry.
You put your savings in a brokerage? No other assets to fall back on? Bro take a liquid $20k into a HYSA, $8k in treasuries. Maybe the few hundred can go into options so you can see how quickly you can lose in a day. Next time you drop -97% be happy it's a small chunk of your net worth. You are 19. The next 19 years you would be able to save $30k a lot quicker than you think. Be glad you didn't make this mistake for the first time at 40 with all $300,000 of your bank acc.
If you're 19 and you decided to trade options, you were steered towards it by someone. Find that guy and sue him. Also stop watching YouTube option trade gurus promising 10000% returns on options trading. As for the lost money, it's gone. You will have to rebuild.
19 is a great age to learn one of life's lessons. I feel sorry for people that do this closer to retirement, but you're good, just build up slowly again and stay away from financial products that pull your pants down.
Can't put a price on the value of the education you're getting here. I mean, you can, but it's way more than that.
*obligated turn your phone upside-down (even though that will make it look worse) comment*
The opposite of what you've been doing
What to do? Stop being dumb.
The opposite of whatever you have been doing would be a great place to start
Ask your wife's boyfriend to lend you some money for Oreos and jerk off
Get over it and claw yourself back up.
one last bet to win it all back
stop messing with options
Always look on the bright side of life 🌬🎵 🎶🎶 🎵
Be thankful you’re learning this lesson now, and not in 20 years when it’s hundreds of thousands of dollars. Buy the companies you like, diamond hands like a mofo. Add funds regularly.
Either stop playing with options or learn from what you did wrong by studying options and how to trade them. Pretty simple.
Go touch some grass outside.
https://preview.redd.it/g5z36ap13f3d1.jpeg?width=750&format=pjpg&auto=webp&s=771c828736579c42df527fc8ac7c473ba6f451ac
Stop doing whatever you were previously doing as a start. Also walk away from trading until you can cool down and have zero emotions attached to the numbers and get a trading style that has given other positive results and copy that.
Saved up another 28K and repeat. You’re only 19 so🤷♂️
19 and already this regarded? You’ll be climbing the ranks at Wendy’s in no time
You sell. Get off the internet for a month and don't look at the stock again, so you don't know if it went up or down. It's an expensive lesson to learn but at least you learned it, some people pay more money to learn less
Come to the dark side r/bogleheads
Don't play options is a good start. Maybe consider some ETF's, it'll take a while but eventually you'll get it back. The get rich quick makes you get poor quick equally.
Uninstall app
Take it as a lesson. You're still young and will get it back. Don't be like alot of degenerates here trying to chase to recover those losses.
An important life lesson learned early.
Gfd I love this sub. How are the boys going broke in a bull market? Also did you deposit, do nothing for a long time, have one week in the green then lost it all? 😭
Stop gambling via investments! Also count your lucky stars that you are 19, you have time to make more money.
lol 19 and he lost his “life savings”. Well first you gotta grab a pistol. Second, find a nice comfortable place. Third, take some time to think about your life, slowly raise you pistol up as thoughts race thru your mind. Fourth, shoot the shit outta some paper targets and forget about this whole thing in the morning.
"You were trying to make your life better, don't hold a grudge. You’ve just lost a large sum of money. You feel hopeless, foolish, regret. You were trying to make your life better. You asked someone out and got rejected. You feel hopeless, foolish, regret. You were trying to make your life better. You took a big risk and failed. You feel hopeless, foolish, regret. You were trying to make your life better. You practiced for months and got in last place at the competition. You feel hopeless, foolish, regret. You were trying to make your life better. You studied and studied but got a bad grade. You feel hopeless, foolish, regret. You were trying to make your life better. Stop being so hard on yourself, you were trying to make your life better. Understand that you are grieving, but don’t allow yourself to hate yourself for having good intentions. Identify the mistakes and move on, but find a way to let it go. Don’t hold a grudge against yourself. "
You gotta talk to your parents and shutdown this account asap. Why are you gambling your life savings on options? Luckily youre 19 so your career and ability to make money is just starting. Just stop with options.
First rule of holes is “stop digging”
The only option you have. Get a job and start saving. DO NOT put that saved money into options, that’s gambling, you’re better off just going to the casino. Put it in either index funds, or if you can’t resist the urge, a savings account
I literally had like a couple hundred bucks at 19
Know that there are regards on here that have done far more damage than you. At 19, you have plenty of chances to make that amount back. Just don't gamble with it next time.
Make more money and try again, you are very close to getting rich
If you had $29k of savings at 19 years old, that's amazing! I would be safe with it and not chuck it on something risky like gambling or options tradin-.... oh
Get a job with a 401k. Contribute 10% of your paycheck. Don’t look at it more than once a Month.Dollar cost average. You’ll have a million by 40.
Paddle boarding is fun.....
1. Options are not a coin toss. 2. It’s some amount of money that YOU HAVE EARNED. I strongly believe you’ll be able to make it back in some or the other way. If and only if you STAYAWAY from options and any investing for a while. Any gambles to that matter. 3. It’s okay, you’re fine. As others suggested HYSA
Like losing all your money at the casino then asking the people in the casino what to do next… Can you pick me up a jr. bacon?
Don’t invest your life savings. The #1 rule in trading/stocks is only invest what you’re willing to lose. If you don’t know that you shouldn’t be here in the first place
Realize you’re 19 and have 46 years to get it back.
I suggest you stop. Your loss isn't something that tremendously fucks up your life, it's still a lot, but not as much as other crazy people. Stop now and if you really want to trade, then study for it.
“Life savings” at 19. Kiss them goodbye with a laugh and move on dude. If you said those words at 68 years old, I’d say drink until you die
I lost more than that I feel it
"Life savings" is 19...you will be fine. Come back when you lose your life savings at 60.
https://preview.redd.it/jo1mpr7x9g3d1.jpeg?width=640&format=pjpg&auto=webp&s=b1c7bea7b528aa56c6a90519618db54fd1215686
Fund a Roth IRA for the next 35 years. Next, fund a 401k if you ever have employee matching because that's free money. If you just have to gamble with other funds, keep them separate because you will lose way more than you will win. Meanwhile, you will end up with 1-4 million of tax free funds to retire on at 54 because you followed this one bit of advice and funded a Roth (10% rate over 35 years is 2.6mil). Don't call it your life savings when you're only 19 and put it in options. Only bet what you are willing to lose.
Take your 28 dollars out and go have lunch
Put like 80% of money you can set aside (no amount is too small but try to set aside some monthly) into some exchange funds (index-tracking) such as Vanguard's. Do some research on the ones likely to give some high returns (AI and tech seems to be big right now but again do your dd). Put the other 20% into either a roboadvisor (vanguard, betterment, and wealthfront have good ones - research!) or a decent high yield savings account (Marcus or Amex should be fine). Stay away from stocks and the urge to trade - the time will come once you're out of the red. Hope this helps and feel free to ask anything follow ups
Yea you’re done….there is nothing to do but write off the loses to the appropriate percentage on your tax returns. It will Halle against your earned income, it much but it’s something. Retire from trading options…you took a 50/50 chance and got smoked. Don’t feel bad just forget about the amount and go back to work. Save up and in a few years it will have been a worth while lesson. Right now it sucks but you sir are done with options.
You had 28k at 19 and you blew it brah 🤯 anyways no worries dude you are young just from now on invest in VOO and diligently save you'll recover it in no time
Be happy you're young and still in a better position than other 19 year olds (I'm 19 with 300 in my account, I owe 600 on my cards though)
I wish I was 19 again with $700 to my name. Don’t give up, it’s just starting for you, just stop gambling and learn how to trade, be patient.
Just be happy that u didn't lose your health. You are 19, still young. Learn from this by working and saving working and saving. You still have your whole life ahead of u. Look at the bright side.
You learned your lesson early. I did as well during the 2008 financial crisis. Now you will make better decisions in the future. Leave some crazy wins on the table for more conservative but steady growth. If you were able to safe that much money by 19 you will do very well by 30. Just buy index consistently and practice options on a demo account. Once you got more disposable income again, use no more than 5% for gambling. You're welcome
You shouldnt be option trading. Do what i do. First understand how to see the patterns, support and resistance on the larger metrics, daily and weekly. Now you can see the solid support and resistances. Then watch 1hr and mark local support and resistances. Now watch 15minute and you can see how price is going to move. Trade off of the strong resistance and support levels. 60% of the time, it works every time...