Need desperate help (Lost life savings)

[SunTrader]

Everyone I believe has missed the main point here. It has nothing to do with trading and everything to do with addiction and being totally irresponsible with handling money. You have to ask yourself if you are marriage material. Your girlfriend certainly should when she finds out that you just threw all your money away that you needed when you were preparing to spend a lifetime with her. She needs to have total control of your joint finances and you should never trade again. You could not be trusted with a trading account.

Everyone? Uhhh no, not me anyway.

 

[SunTrader]

Yeah look at my prediction trading thread, then get back to me.

LMAO

 

[stockpredictor]

LMAO

What's your point? You can't post profitable live entry and exits like I did: https://www.elitetrader.com/et/threads/prediction-based-trading.351176/page-35

 

[Bad_Badness]

Put it up on something like C2 (Collective 2) where you cannot fudge the numbers, then people might take it more seriously. No offense intended, but posting on a web site is not credible. If your record is truly awesome, it will show. Otherwise people will continue to have doubts.

 

[ChipShotTrader]

Have been trading for about 8 years. Last night and I revenge traded the fuck out of everything, deposited life savings after my ~25k account went to zero from revenge trading.

I think I might need help from gambling, I couldn’t stop until my account become zero and deposited all life savings. Well fuck.

I’ve read trading in the zone etc. But need desperate suggestions and help. I plan to at least work on my psychology for the remaining of this year before I get back to trading.

I’m 28 and was saving up for my wedding, literally lost everything that I’ve earned since I started working. Not a fucking clue on how I’m gonna tell my family.

What should I look into? Gambling or trading psychology. I’d still want to make it as a full time career (trading), but really need to spend at least this year fucking analysing my mistakes.

But, fuck. Me. Feels fucking horrible.

EIGHT YEARS.

YOU ARE FINISHED.

Become a Veterinarian. If I were to start again, I would have chosen that profession, out of school. Pet dies, but you don't feel as bad as if grandmother died.

I know some of the best transplant surgeons/etc in the world (30+ hour operations, non-stop), and when the patient dies, it's devastating...

 

[vanzandt]

There is no teaching moment in being hit by a car.

Oh yeah?

Well no need to go into details here... but when jogging in Japan with ear-buds in.... your ass better look to the right when you step off a sidewalk.

 

[legionx]

Read Atomic Habits and The Compound Effect though the latter imo is better. GL.

 

[MotionX]

Have been trading for about 8 years. Last night and I revenge traded the fuck out of everything, deposited life savings after my ~25k account went to zero from revenge trading.

I think I might need help from gambling, I couldn’t stop until my account become zero and deposited all life savings. Well fuck.

I’ve read trading in the zone etc. But need desperate suggestions and help. I plan to at least work on my psychology for the remaining of this year before I get back to trading.

I’m 28 and was saving up for my wedding, literally lost everything that I’ve earned since I started working. Not a fucking clue on how I’m gonna tell my family.

What should I look into? Gambling or trading psychology. I’d still want to make it as a full time career (trading), but really need to spend at least this year fucking analysing my mistakes.

But, fuck. Me. Feels fucking horrible.

I think you lacked patience, in the greed of getting quick bucks, you have wasted all your money. You must realise that you need to wait, work on your discipline. Going against the market will give you nothing except loss.

 

[thursday]

I think you lacked patience, in the greed of getting quick bucks, you have wasted all your money. You must realise that you need to wait, work on your discipline. Going against the market will give you nothing except loss.

Even I was thinking of the same thing, I just hope that he will learn his lesson and not to go against the market because it will never end well.

 

[misterkel]

you cant have good probability and a favorable risk reward. Thats called a perfect trade and it doesnt exist. Just shut up, you gonna hurt this dude more than help.

This is mathematically disprovable. Here is an example (many exist):

As you see in this vertical spread, you pay .85 for a spread with intrinsic value of 1.00. A stock ending at or above its current price is >50%. Therefore, the win probability here is >50%.

R:R. Max reward here is 1.65 ( = total ITM value of 2.5 - .85 in initial debit). Reward to Risk ratio is ~ 2:1 for a favorable R:R.

I may be wrong, but the math is pretty basic and rigorous. The only assumption here is that a stock is at least as likely to end at or above its current price. That seems to be an extremely robust long-term assumption. Perhaps I'm missing something?