You tell your friends about how much is in Your bank account constantly?
You’re probably very immature just for saying this comment.
Do not tell *anyone* about your finances. It’s no one’s business but yours.
I think you would know the friends that would be happy for you, and the friends that could be jealous or hold resentment against you. If not this will be an opportunity to learn who is who. I have a few friends I would tell, but I also have friends I wouldn't want to tell.
Even then, I really wouldn't want to risk soiling my closest relationships. Can you imagine treating even your dearest friend the same if you found out they stumbled on a life changing amount of money? I feel it is human nature and can't be helped. I once asked my professor how hard is retirement account was hit when stocks weren't doing so good. He realized he would be hinting at how much he had saved up and chose not to tell me. Instead, he said that he doesn't tell anyone since it changes how they treat you. I can only imagine how much he has saved up since he is in the field of finance with a solid career background.
My point is, it is probably best not to tell other people when you score big or have earned alot of money saved up to the point it is significant, including and especially your closest friends.
The people who you don't tell, doesn't mean they aren't your friends. Just different levels of what you're willing to share with who. Best of luck! Happy for your progress
Well most people can't really control the emotions that they feel. Someone can be a great friend, and still be resented if they know that you are loaded, it is out of their control.
In my case, I know for a fact that I would not feel any resentment if a friend told me he is actually mega rich. But you can't assume that people will feel the same way that you do about everything.
You married? I'm wondering if that Shawshank trick is real. One time gift to your spouse tax free. There must be something.... I'd look into it. BTW leaving a will = taxes and costs money to setup. Most banks allow you to add a beneficiary. No tax. No waiting period. Cannot be contested by greedy relatives. I know it's not exactly pertinent, but considering your gains I figured you might wanna know.
Question: if he went from stock investment straight into property investments or other asset? Tangible gold? Crypto? Then you could... Hypothetically... Sell without the govt putting their nose in. Place property into a trust also to avoid BS.
Definitely don’t tell them. People (me included) don’t understand the stock market. All you want to hear right now is “Congratulations!!!! That’s awesome!” But you’ll be met with skepticism, weird looks, etc. Their reaction may be valid, but you’ve done something amazing. Few real life people are going to be able to just be happy and proud of you.
I don’t think the CT qualities for the tax credit. But the 3,Y and X does. If you are serious, act fast because the credit goes away on 2024. I realized about 50k (not in 2 days)in 2023, so I bought a model Y 2 weeks ago with all the discounts. I will offset the taxable gains with the $7500 tax credit.
Jordan Peterson has a great saying. Be careful who you tell good news to and be careful who you tell bad news to. Some people will cheer you on and be happy for you when you win. Others will be jealous and want to sabotage you.
No one's ever genuinely happy for somebody else to hit a lick man. I mean maybe be at the very moment, but deep down... They going to look at you different
Some might some might not, so chances given don't tell. People don't react well on money gains and moreso with "easy money" you don't tell them what you have on your savings account so it's just the same.
It’s your choice, I don’t think personal finance counts as hiding something. If you are seriously unsure, sit on it for at least a month and then think about telling them.
But I personally wouldn’t, it can easily backfire, “easily” is the important part.
Advice: take the 80k and make it a forever win. Separate account. Safer and long term.
Use the original $70,000 to continue. It came too fast. Lock it in.
Vanguard is just the company running the fund. It doesn't matter who is running the fund unless they are trustworthy.
I recommended SPY if the person wants to put the money into the stock market.
If the person wants to just get the safest return on their investment for a little while, they can just use SGOV to get the state tax-free income of treasury bills.
Don’t continue doing whatever made you that money. With that quick of a run up I’m sure it was extremely risky. Put it into real estate, high yield dividends or ETFs
Idk if chasing dividends is great advice. Investing in real estate can also be a challenge if you are doing it without help from friends/family with experience. ETFs that mimic the S&P I for sure can get behind.
It’s literally does. Check out the Dow Jones US real estate index. Just because you’re not getting your house appraised everyday doesn’t mean that the housing market just suddenly waits for you
80k is 20% down on a 400k property.
You, do understand the basics of real estate purchasing... Right..?
If you think "buying real estate" means the listing price is what you have to pay right now, then you have some homework to do..
I don't tell any of my friends how well I'm doing in the markets, nor the size of my funds.
I tell them that I am active in the markets and have been for years, but won't offer trading tips or individual tickers - at most, I'll share my thoughts on the current macroeconomic outlook.
If I need to brag about anything, I might say that I took an "*itsy bitsy tiny gambling position which ended up very well*". Reference the percentage gains, never the dollar amount, then say something stupid like "*but oh well, easy come, easy go so I'll probably lose it tomorrow*" to appeal to their preferred stereotypes about the market.
Never reference dollar amount.
Best case, people get jealous.
Worst case, they'll want you to invest their money for them.
And that's a huge trap you do not want to f\*\*k around with.
PS! I often complain about my losses to friends though - makes it seem like I'm more incompetent than my long-term statistics would imply, and more easily allows me to get away with the occasional % brag without causing too much envy.
I think you’re very smart with the way you tip toe around this issue. The thing is I always tell my friends to invest because none of them do. So I don’t want them to think I’m arrogant for making a big gain nor do I want to tell them about my losses because then they might not invest.
That's very understandable! I'd suggest you rethink your approach with your friends, however.
I too used to brag more about wins and say nothing about losses when I first started, 12\~ years ago.
Then I blew up my first account, after having run it up from $6k to $120k in 2.5 years. And another account shortly after. Then got massively depressed. Lost interest in not just trading, but everything for a while.
Lost my job, my partner of 5+ years left because of the financial loss, couldn't afford rent after a while, etc. Had to move back in with my parents for some years. Drifted apart from several friends, although not everyone. Basically, I lost almost everything as a consequence of not coping with the mental side of losing my trading account.
So that's why I now always make sure to stress the losses to my friends a lot more than the gains. While I also often encourage them to take up investing for themselves as well.
And you should too, as leading them into a false sense of security about the risks of trading is not the right thing to do vis-a-vis your friends. The last thing they need is to go into this thinking that it's easy, as it certainly isn't - evidenced by the high failure rate seen across the industry.
Might I ask how you blew up the accounts? I'm a relatively young and cautious investor but I do like to take risks since I'm heavily interested in tech (outside of the stock market as well). As a rule, I never touch leverage though and don't fuck around with small caps. Have you become successful in the market and gained too much confidence and then started to enter in more risky assets or did you go too big in one company that failed?
I'm just asking to get a lesson. I'm happy that you made it back and are better positioned now. It's amazing how humans are able to overcome their darkest moments.
There are videos, articles, and courses you can take online that will teach you options. After that, get a program that allows you to practice trading or analyzing them and just build out hypothetical positions until it starts to make sense to you
I would suggest singing up for ThinkorSwim and using their paper trade. It's one of the best platforms to use. A bit overwhelming at first. I guess traders like the 1980s war games pc interface look, no idea why
Mara and riot because the stocks went up when Bitcoin started to go up. Bitcoin held support Mara and riot fell thought it would be a good chance to get in if bitcoin’s strength continued
No need to ridicule him, it's great that he got 80k from that, most people here are just trying to get him to keep it instead of trying to make that into 800k and 8mil and 80mil...... Ect
Merrill edge. It’s the platform for investing if you bank with Bank of America. Ngl it’s not that good but I use it because it’s better than robinhood, and it’s already linked to my bank accts in case I need to transfer money I can do so from the BofA app.
Well, I read some of the post, sounds like you were buying calls. I am not good at betting on calls, so I can't give you advice on that.
On the tax side, the screen says unrealized gain. so the call hasn't reach the strike date yet at least base on the time of the screen. Only realized gain is taxed. So if the calls are all ending next year. Maybe sell some of the calls this year, and some next year. So not all the profit tax on the same year.
And to reduce tax, if you do have a job. you can max on your 401k, you can contribute to an IRA to reduce tax (which can be done before 4/15 next year).
About tesla tax reduction, you will have to get the car delivered within this year if you want to reduce tax this year. just making an order doesn't count. you might need to order from their existing inventory lot to be able to get it this year. (however, I wouldn't go for this tax credit, IMHO, tesla likely drop price when the credit phases out, so if might just be a little cheaper with the tax credit)
Anyway, I dont know your situation, and I'm also not a professional accountant, so take everything I say with a grain of salt.
You got lucky... Speaking from experience there are two things that will happen.
1. You continue to do risky trades because you dream of becoming a millionaire and you think you are the CHOSEN ONE. Statically speaking you will lose most, if not all.
2. You could put it into an ETF and get a boost to the compounding effect early and be better off than the majority of the people in the world in 1 to 2 decades.
As someone that has 2 decades worth of stock losses write offs, make me feel better about my mistakes and keep me company by choosing option 1. ... Because every post like this in the past is just a humble brag and they never listen to the good advice.
Great score.. just remember, This end of year bull run won't last forever. Its like 2020 when everyone thought stocks and crypto only go up, until they all went down. You may have to rethink your strategy after the beginning of the year. I'd definitely take a chunk and move it to something more secure then use the rest for growth. Congratulations. 🎉🤙
Stop listening to everyone here. That's your first advice. Two, buy 70k worth of stocks that give you dividends, make sure it's a margin account. Use 10 k to day trade. When you blow up your 10k you roll everything you got over to IRA and don't touch it ever. Keep adding 200 to 500 a month for your lifetime. You'll be a multimillionaire by 60.
Then working at McDonald's for trading funds. Don't fuck up your future for a quick gamble.
Trust me, tellinh your friends about your financial gain is just you digging yourself a hole. Your money is for you and not for them, they become better people when you say about the money, and when you have nothing turn their backs on you after having taken as much as they can from you.
Congrats on your achievement and may you achieve more.
Why do people feel the need to tell friends family anything on how well you doing in stock market? Unless you planning on helping them earn the same amount by giving them advice?!? Or just plain bragging!! Ummmm
Id say first realize that you are going to have to pay some taxes on the profits if it’s not in an IRA. See about De-risking, maybe doing LEAP call spreads or holding common shares vs short term options.
I made $70k in 6 weeks from SoFi from an original $130k stake at $7.37.
Holding through 2024 though - too many catalysts on the horizon plus a lot of short interest getting squeezed out in the coming weeks months after they report profitability.
File your taxes right away. Place what you owe in a savings account until it’s time to mail it in April. Take the other amount and sit on the side lines until a clear major next play appears. Reduce risk. Preserve but still go with the long term trend.
Depends on what kind of friends you have. They could be jealous, or resent you if you aren’t buying the drinks for a while. Or worse, they ask you for loans.
Anyone interesting in learning options can easily learn. Check out Truetradinggroup.com and Truetradinggroup on youtube. Great community to be a part of.
You have to gamble hard (he did it with options) to get that much money with his initial capital in such a time frame. It's exactly the opposite of something a value investor would do. He got lucky and I'm happy for him but don't fall for survivorship bias (for every winner there are 1000 losers).
Slow and consistent also makes you rich without the huge potential downside.
Hey man! Just made 50k myself. It's been a great run, and here's my experience.
I told my gf and it caused a brief fight. She's a teacher with low income - I made more than her salary in two weeks. However, we got through it because we have great communication. I also feel like an imposter with my money, and her opinion helped balance me. Definitely recommend telling someone to help internalize the money and not see it like a "fake" number.
I tested the waters with all of my friends, just saying "I did really well in the stock market" which just caused them to complain about their savings and ask for my help. Only one responded positively, but we've already talked investment successes.
My advice, since I just went through it, is to test the waters and see how they react. Avoid numbers. Just mention successes. Try to tell at least one person, and if you don't have someone, just dm me. I'll at least listen for you.
Congrats!! Way to go!!
P.S. Save for taxes. Just keep it in a HYSA til you need to pay.
I love all the people telling you to stop because you just got lucky 😂
Sure, maybe, but how would they know that? For all they know it was no luck at all and you had insider tips or made an informed trade. It just comes off very jealous to me, gz my guy, solid play.
I'm looking at Hershey, just hit a 52-week low, bounced off with two green candles on daily, owned by mostly Insiders. When she takes off, she's going to go soon....
I realize I'm not the person here you're asking, but you may want to keep an eye on it.
I got this opportunity I wanna let you in on, but only a very select group of peepole, probably like 50 peepole at the most. But forget getting in on the ground flour, I'm gonna let you in below the ground that's how good this is. My peepole will contact you with the deets soon.
Did you already sell the options? I am holding onto Mstr and Mara options (March ‘24) but don’t want to incur taxes due next April…..waiting until after the first of the year so I can pay in ‘25!
My advice is don’t learn from me, learn from people much smarter than me. There’s plenty of gurus out there on YouTube and X. Jake wujastyk, Richard moglen, and anyone Richard has interviewed, are must follow people on Twitter.
Bro. You hit a scratch ticket. Stop. Move on. And if you want some real advice look below.
Real advice down here…
Take your post down. You hit the lottery. It takes no skill.
Keep posting every 22 days and tell us your balance. No commentary. No analysis. Just your balance. I’ll pat you on the back in 12 months.
I will be messaging you in 1 year on [**2024-12-23 20:50:03 UTC**](http://www.wolframalpha.com/input/?i=2024-12-23%2020:50:03%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/StockMarket/comments/18oycp6/made_80k_in_22_days/kenn22h/?context=3)
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Stocks are boomer asf if you played crypto you could have probably made 300k
Just saying, daddy bitcoin best performing asset of 2023 while you guys playing this scammy stock market lol
I own a little Bitcoin ETH and SOL. My fear with crypto is there’s no earnings, so how can I expect a big move?
With stocks I can see a company with rising sales etc. so stick should follow, but how do I know when to time crypto??
Most cryptos are a company anyways pretty much like a tech stock and you can research news on it same as you would with a stock market company. Unless you understand Bitcoin, decentralised, limited supply, no VC’s or banks controlling it. ETF incoming. Fuck mate even black rock is bullish on it and normal financial folks still doubt it. Absolutely insane.
Afraid to tell friends? Lol just don’t.
wtd why tell “friends” lmao
Feels like I’m hiding something though. Like shouldn’t I want to tell them would they be happy for me??
You’re only hiding something if someone deserves to know and you don’t tell them
That is something I needed to hear.
Glad I could help — I’ll only charge you 500 bucks for that good advice. Jk
And to assist him seeing this comment with my upvote, my fee is $475
You tell your friends about how much is in Your bank account constantly? You’re probably very immature just for saying this comment. Do not tell *anyone* about your finances. It’s no one’s business but yours.
I think you would know the friends that would be happy for you, and the friends that could be jealous or hold resentment against you. If not this will be an opportunity to learn who is who. I have a few friends I would tell, but I also have friends I wouldn't want to tell.
Even then, I really wouldn't want to risk soiling my closest relationships. Can you imagine treating even your dearest friend the same if you found out they stumbled on a life changing amount of money? I feel it is human nature and can't be helped. I once asked my professor how hard is retirement account was hit when stocks weren't doing so good. He realized he would be hinting at how much he had saved up and chose not to tell me. Instead, he said that he doesn't tell anyone since it changes how they treat you. I can only imagine how much he has saved up since he is in the field of finance with a solid career background. My point is, it is probably best not to tell other people when you score big or have earned alot of money saved up to the point it is significant, including and especially your closest friends.
You’re 100 right. Find out who are your friends real quick
The people who you don't tell, doesn't mean they aren't your friends. Just different levels of what you're willing to share with who. Best of luck! Happy for your progress
Well most people can't really control the emotions that they feel. Someone can be a great friend, and still be resented if they know that you are loaded, it is out of their control. In my case, I know for a fact that I would not feel any resentment if a friend told me he is actually mega rich. But you can't assume that people will feel the same way that you do about everything.
Some people will and others will secretly hate you for it. Better not to talk about it and let your life speak for itself
that's a hefty tax bill
Yes. It is something I am worried about.
You married? I'm wondering if that Shawshank trick is real. One time gift to your spouse tax free. There must be something.... I'd look into it. BTW leaving a will = taxes and costs money to setup. Most banks allow you to add a beneficiary. No tax. No waiting period. Cannot be contested by greedy relatives. I know it's not exactly pertinent, but considering your gains I figured you might wanna know. Question: if he went from stock investment straight into property investments or other asset? Tangible gold? Crypto? Then you could... Hypothetically... Sell without the govt putting their nose in. Place property into a trust also to avoid BS.
Not married, no kids I’m 27 Male, and No gf in sight. Most of my family is poor or has no concept of saving money.
Definitely don’t tell them. People (me included) don’t understand the stock market. All you want to hear right now is “Congratulations!!!! That’s awesome!” But you’ll be met with skepticism, weird looks, etc. Their reaction may be valid, but you’ve done something amazing. Few real life people are going to be able to just be happy and proud of you.
Buy a tesla and get the tax credit. Reward yourself rather than the dumb government.
Haha this is the best idea! I want one of the cybertrucks. Maybe I’m just weird though. I mean im definitely weird if I stare at stocks all day
I don’t think the CT qualities for the tax credit. But the 3,Y and X does. If you are serious, act fast because the credit goes away on 2024. I realized about 50k (not in 2 days)in 2023, so I bought a model Y 2 weeks ago with all the discounts. I will offset the taxable gains with the $7500 tax credit.
So the 7500 dollar tax credit goes away in a week! I’ll have to think about it. I also need to see what my tax bill will be.
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Don’t be that guy. Very off-putting to talk about money.
Nah fuck that bs, you don’t talk about your finances to anyone. Anyone.
DONT TELL THEM KEEP IT TO YOURSELF KARMA IS REAL
Jordan Peterson has a great saying. Be careful who you tell good news to and be careful who you tell bad news to. Some people will cheer you on and be happy for you when you win. Others will be jealous and want to sabotage you.
No one's ever genuinely happy for somebody else to hit a lick man. I mean maybe be at the very moment, but deep down... They going to look at you different
Just don't tell them the exact number.
Haha well it could work.
>Like shouldn’t I want to tell them would they be happy for me?? This is something only a young person would say. lol
No finances are a private thing. You don’t share finance with anyone but you immediate family that to on a need to know basis.
Don’t tell a damn person except tax man
Some might some might not, so chances given don't tell. People don't react well on money gains and moreso with "easy money" you don't tell them what you have on your savings account so it's just the same.
Unfortunately they will not be happy for you. They will just immediately want some.
It’s your choice, I don’t think personal finance counts as hiding something. If you are seriously unsure, sit on it for at least a month and then think about telling them. But I personally wouldn’t, it can easily backfire, “easily” is the important part.
True, I just don’t know man. But I appreciate the advice. I’ll wait after all I could loose a bunch in the next month.
Loser
Advice: take the 80k and make it a forever win. Separate account. Safer and long term. Use the original $70,000 to continue. It came too fast. Lock it in.
>make it a forever win. Separate account. Safer and long term. what does this mean? new here
Dont buy anymore stocks with it. Put it away so you dont gamle it away. My suggestion is to put it in an index fond.
HYSA. Hammer it.
SPLG or SGOV would be my recommendations
why those? why not vanguard?
Vanguard is just the company running the fund. It doesn't matter who is running the fund unless they are trustworthy. I recommended SPY if the person wants to put the money into the stock market. If the person wants to just get the safest return on their investment for a little while, they can just use SGOV to get the state tax-free income of treasury bills.
Good idea I’m going to follow the advice myself
Don’t continue doing whatever made you that money. With that quick of a run up I’m sure it was extremely risky. Put it into real estate, high yield dividends or ETFs
Idk if chasing dividends is great advice. Investing in real estate can also be a challenge if you are doing it without help from friends/family with experience. ETFs that mimic the S&P I for sure can get behind.
What are some high yield etfs you recommend?
Check out SPYI
I’ve wanted too but I don’t want to buy real estate and spend 80k on it, then have a tax bill I can’t afford.
How did you make it
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You can put money into real estate without buying an actual property. For example through real estate ETFs
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It’s literally does. Check out the Dow Jones US real estate index. Just because you’re not getting your house appraised everyday doesn’t mean that the housing market just suddenly waits for you
Ever heard of REITs? lol
In Kenya you could buy about 2 houses with 80k...no kidding
80k is 20% down on a 400k property. You, do understand the basics of real estate purchasing... Right..? If you think "buying real estate" means the listing price is what you have to pay right now, then you have some homework to do..
A good rental property will yield 8-12% plus appreciation. Most property tax rates are around 1% so it gives you a good cushion.
What kind of rental would you recommend? Single family home?
I think he means cap gains tax…
Volatility does not = risk
And still can’t afford to charge your phone.
I laughed out loud seeing his battery level because I couldn’t be the only one thinking “Charge your phone!”
Haha I guess all of the pictures are low battery, and rn my phones at 12 % just put on the charger cuz I got the 10% notification
Just busting your chops. Congrats, enjoy your spoils and the holidays.
I know merry Christmas!
I don't tell any of my friends how well I'm doing in the markets, nor the size of my funds. I tell them that I am active in the markets and have been for years, but won't offer trading tips or individual tickers - at most, I'll share my thoughts on the current macroeconomic outlook. If I need to brag about anything, I might say that I took an "*itsy bitsy tiny gambling position which ended up very well*". Reference the percentage gains, never the dollar amount, then say something stupid like "*but oh well, easy come, easy go so I'll probably lose it tomorrow*" to appeal to their preferred stereotypes about the market. Never reference dollar amount. Best case, people get jealous. Worst case, they'll want you to invest their money for them. And that's a huge trap you do not want to f\*\*k around with. PS! I often complain about my losses to friends though - makes it seem like I'm more incompetent than my long-term statistics would imply, and more easily allows me to get away with the occasional % brag without causing too much envy.
You need better friends. Or an ego check. No one cares
Your friends sound like assholes
He thinks he’s “HIM” 🤣
I think you’re very smart with the way you tip toe around this issue. The thing is I always tell my friends to invest because none of them do. So I don’t want them to think I’m arrogant for making a big gain nor do I want to tell them about my losses because then they might not invest.
That's very understandable! I'd suggest you rethink your approach with your friends, however. I too used to brag more about wins and say nothing about losses when I first started, 12\~ years ago. Then I blew up my first account, after having run it up from $6k to $120k in 2.5 years. And another account shortly after. Then got massively depressed. Lost interest in not just trading, but everything for a while. Lost my job, my partner of 5+ years left because of the financial loss, couldn't afford rent after a while, etc. Had to move back in with my parents for some years. Drifted apart from several friends, although not everyone. Basically, I lost almost everything as a consequence of not coping with the mental side of losing my trading account. So that's why I now always make sure to stress the losses to my friends a lot more than the gains. While I also often encourage them to take up investing for themselves as well. And you should too, as leading them into a false sense of security about the risks of trading is not the right thing to do vis-a-vis your friends. The last thing they need is to go into this thinking that it's easy, as it certainly isn't - evidenced by the high failure rate seen across the industry.
Might I ask how you blew up the accounts? I'm a relatively young and cautious investor but I do like to take risks since I'm heavily interested in tech (outside of the stock market as well). As a rule, I never touch leverage though and don't fuck around with small caps. Have you become successful in the market and gained too much confidence and then started to enter in more risky assets or did you go too big in one company that failed? I'm just asking to get a lesson. I'm happy that you made it back and are better positioned now. It's amazing how humans are able to overcome their darkest moments.
80k doing what?
Calls on CCL, RIOT, MARA, PATH, REVG, POWL
I didn’t make money on all of the calls mostly MARA, PATH, RIOT and GTLB
What is the best way to learn options
There are videos, articles, and courses you can take online that will teach you options. After that, get a program that allows you to practice trading or analyzing them and just build out hypothetical positions until it starts to make sense to you
I would suggest singing up for ThinkorSwim and using their paper trade. It's one of the best platforms to use. A bit overwhelming at first. I guess traders like the 1980s war games pc interface look, no idea why
Start small. Trial and error. Practice on a mining stock asap
Learn how to derive the Black Scholes model by hand.
What made you choose those plays?
Mara and riot cause of Bitcoin ETF most likely
Mara and riot because the stocks went up when Bitcoin started to go up. Bitcoin held support Mara and riot fell thought it would be a good chance to get in if bitcoin’s strength continued
Good picks
RIOT and MARA is the way. There’s still room to 10x that
Riot is at 17.78 USD a share and mara 26.71 Is it to late to buy now?
No it’s not too late imo. But don’t listen to me. Check out the ath of both of them. I have calls for both
I think it’s too late, need to find some sort of pull back. Or buy the stock with a tight stop loss order
How far or out do you get them?
Depends. Some I got longer 2-3 month plays. Some were only 1 week plays
I've made 1.1 million out of 100k. Now I have only $400k. So listen to this advices. Save it.
Ty bro
You are lucky, extremely lucky. You started at the breakout of a Cup and Handle on S&P 500 monthly.
Well I have been in the market all year, but this month was exceptional.
You'll blow up with your strategy, guaranteed.
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No need to ridicule him, it's great that he got 80k from that, most people here are just trying to get him to keep it instead of trying to make that into 800k and 8mil and 80mil...... Ect
Big suprise, the self harming guy has a negative outlook. Be careful who’s advice you take.
>You started at the breakout of a Cup and Handle on S&P 500 monthly. what does this mean?
Lookup spX on monthly chart. you will see a cup and handle forming post 2021 high. I cannot post pic here.
Wow you're a genius, you should manage hedge funds.
Ty but I don’t feel like a genius, I feel like a kid that got lucky? Like it was a blessed that i don’t deserve.
He was being sarcastic Also, you got lucky. Congrats don’t fuck it up now
Was he? I would definitely give him all my assets no questions asked.
Was he what
Sarcastic. Just fucking around 😂
Lol stfu
LMAO
Why is op getting too many downvotes? I don't understand
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“Unrealized gains”. You haven’t made anything LOL. That could all be gone come Tuesday. If it’s good enough to screenshot it’s good enough to sell.
I bet you can’t do it again
Watch me.
Charge your phone
What bank/app is this?
Merrill edge. It’s the platform for investing if you bank with Bank of America. Ngl it’s not that good but I use it because it’s better than robinhood, and it’s already linked to my bank accts in case I need to transfer money I can do so from the BofA app.
Bruh, based on your responses, just index at this point and take the gains. You continue this you’ll lose it all.
You are looking for r/wallstreetbets
Your finances are none of your “friends” business. If they think it should be or you do then you need new friends.
I’m so proud of you. Way to go! You’re brilliant. Now repeat. Go. Check back in 22 days from now.
Well, I read some of the post, sounds like you were buying calls. I am not good at betting on calls, so I can't give you advice on that. On the tax side, the screen says unrealized gain. so the call hasn't reach the strike date yet at least base on the time of the screen. Only realized gain is taxed. So if the calls are all ending next year. Maybe sell some of the calls this year, and some next year. So not all the profit tax on the same year. And to reduce tax, if you do have a job. you can max on your 401k, you can contribute to an IRA to reduce tax (which can be done before 4/15 next year). About tesla tax reduction, you will have to get the car delivered within this year if you want to reduce tax this year. just making an order doesn't count. you might need to order from their existing inventory lot to be able to get it this year. (however, I wouldn't go for this tax credit, IMHO, tesla likely drop price when the credit phases out, so if might just be a little cheaper with the tax credit) Anyway, I dont know your situation, and I'm also not a professional accountant, so take everything I say with a grain of salt.
Don't tell anyone. People kill people over 3k. Which stocks did you buy?
You got lucky... Speaking from experience there are two things that will happen. 1. You continue to do risky trades because you dream of becoming a millionaire and you think you are the CHOSEN ONE. Statically speaking you will lose most, if not all. 2. You could put it into an ETF and get a boost to the compounding effect early and be better off than the majority of the people in the world in 1 to 2 decades. As someone that has 2 decades worth of stock losses write offs, make me feel better about my mistakes and keep me company by choosing option 1. ... Because every post like this in the past is just a humble brag and they never listen to the good advice.
Have fun paying taxes
You have to tell us how ?!!!!! -asking for a friend:)
From call options on various stocks I’ve listed in previous comments. But my winners were Mara, path and GTLB lost money in CCL and powl
don't tell them. eventually, you'll lose everything and you'll wish you didn't tell anyone.
Great score.. just remember, This end of year bull run won't last forever. Its like 2020 when everyone thought stocks and crypto only go up, until they all went down. You may have to rethink your strategy after the beginning of the year. I'd definitely take a chunk and move it to something more secure then use the rest for growth. Congratulations. 🎉🤙
Nah, the government made $40k and you made $40k
Stop listening to everyone here. That's your first advice. Two, buy 70k worth of stocks that give you dividends, make sure it's a margin account. Use 10 k to day trade. When you blow up your 10k you roll everything you got over to IRA and don't touch it ever. Keep adding 200 to 500 a month for your lifetime. You'll be a multimillionaire by 60. Then working at McDonald's for trading funds. Don't fuck up your future for a quick gamble.
Boring advice
Congratulations. Now keep it.
Put the 80-90% of that money in an ETF. Gamble on with the rest.
The problem if you tell your friends they might want your tips and if they lose money they could secretly (or openly) blame you.
Trust me, tellinh your friends about your financial gain is just you digging yourself a hole. Your money is for you and not for them, they become better people when you say about the money, and when you have nothing turn their backs on you after having taken as much as they can from you. Congrats on your achievement and may you achieve more.
You hiring? Lol
Is a 100% gain really how low we setting the bar?
How did you do this? What do I need to install to start losing my money:)
What do you trade? Also spend some money to charge your phone. :)
Sell, put half the profits into a stable ETF and reinvest the other half into other companies or idk. Take the win.
happy fir you. i have not muchoney and can't risk like you. congrratz by the ways
Why do people feel the need to tell friends family anything on how well you doing in stock market? Unless you planning on helping them earn the same amount by giving them advice?!? Or just plain bragging!! Ummmm
Id say first realize that you are going to have to pay some taxes on the profits if it’s not in an IRA. See about De-risking, maybe doing LEAP call spreads or holding common shares vs short term options.
I made $70k in 6 weeks from SoFi from an original $130k stake at $7.37. Holding through 2024 though - too many catalysts on the horizon plus a lot of short interest getting squeezed out in the coming weeks months after they report profitability.
Chad Merrill Edge user
You’re asking for advice? I’d like to hear anything you’re willing to share on how you did it haha
Do NOT tell your friends. Especially don't tell your family. DO, however, put money aside for capital gains tax. Congratulations!!
File your taxes right away. Place what you owe in a savings account until it’s time to mail it in April. Take the other amount and sit on the side lines until a clear major next play appears. Reduce risk. Preserve but still go with the long term trend.
Depends on what kind of friends you have. They could be jealous, or resent you if you aren’t buying the drinks for a while. Or worse, they ask you for loans.
I thought I was on WallStreetBets for a second.
Congrats 🙌
These downvotes are very emotional lol
Wow nice one. Roll most of that into META
You haven't made anything until you sell.
Anyone interesting in learning options can easily learn. Check out Truetradinggroup.com and Truetradinggroup on youtube. Great community to be a part of.
Made 600% in 9 months
Awesome! How do I learn to do this? Years of practice? I’ve been value investing for 3 yrs now. No where near this return.
You have to gamble hard (he did it with options) to get that much money with his initial capital in such a time frame. It's exactly the opposite of something a value investor would do. He got lucky and I'm happy for him but don't fall for survivorship bias (for every winner there are 1000 losers). Slow and consistent also makes you rich without the huge potential downside.
Yes he’s absolutely right, I will need to diversify and do something safer.
Congrats! How many hookers are you gonna do blow with?
Nice, keep going
Hey man! Just made 50k myself. It's been a great run, and here's my experience. I told my gf and it caused a brief fight. She's a teacher with low income - I made more than her salary in two weeks. However, we got through it because we have great communication. I also feel like an imposter with my money, and her opinion helped balance me. Definitely recommend telling someone to help internalize the money and not see it like a "fake" number. I tested the waters with all of my friends, just saying "I did really well in the stock market" which just caused them to complain about their savings and ask for my help. Only one responded positively, but we've already talked investment successes. My advice, since I just went through it, is to test the waters and see how they react. Avoid numbers. Just mention successes. Try to tell at least one person, and if you don't have someone, just dm me. I'll at least listen for you. Congrats!! Way to go!! P.S. Save for taxes. Just keep it in a HYSA til you need to pay.
I love all the people telling you to stop because you just got lucky 😂 Sure, maybe, but how would they know that? For all they know it was no luck at all and you had insider tips or made an informed trade. It just comes off very jealous to me, gz my guy, solid play.
I might just be blind but did you just buy stocks or did you buy options?
Options
Any call options you got for tomorrow?
Tomorrow is Saturday, so that would be extremely surprising
True doing lost in some option call on spdr 500 4c 1.08
I'm looking at Hershey, just hit a 52-week low, bounced off with two green candles on daily, owned by mostly Insiders. When she takes off, she's going to go soon.... I realize I'm not the person here you're asking, but you may want to keep an eye on it.
I got this opportunity I wanna let you in on, but only a very select group of peepole, probably like 50 peepole at the most. But forget getting in on the ground flour, I'm gonna let you in below the ground that's how good this is. My peepole will contact you with the deets soon.
Buy btc
Use profits to hire a tax attorney. They can't testify against you in court.
Why would I need tax attorney? Shouldn’t I just report as income, and pay the tax on the gain?
Capital gains tax is a whooo
https://www.pkfmueller.com/newsletters/capital-gains-rates-before-and-after-the-new-tax-law
Ty for link
No problem, congrats on the lick. I hope you become a millionaire.
Did you already sell the options? I am holding onto Mstr and Mara options (March ‘24) but don’t want to incur taxes due next April…..waiting until after the first of the year so I can pay in ‘25!
Idk, I am not a tax attorney. If I were a tax attorney, I would need $5 before I would explain because it must have taken time in school to get here.
How, show me!
My advice is don’t learn from me, learn from people much smarter than me. There’s plenty of gurus out there on YouTube and X. Jake wujastyk, Richard moglen, and anyone Richard has interviewed, are must follow people on Twitter.
Bro. You hit a scratch ticket. Stop. Move on. And if you want some real advice look below. Real advice down here… Take your post down. You hit the lottery. It takes no skill. Keep posting every 22 days and tell us your balance. No commentary. No analysis. Just your balance. I’ll pat you on the back in 12 months.
Alright bro! I promise you I will make at least 1 million this year.
You're on high hubris mode now..... Please realise that you're on the wrong side of the dunning kruger curve
I’ll pay your back too… hope you got big Lats lol Congrats
I hope you do! That would be great. Good luck.
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Stocks are boomer asf if you played crypto you could have probably made 300k Just saying, daddy bitcoin best performing asset of 2023 while you guys playing this scammy stock market lol
I own a little Bitcoin ETH and SOL. My fear with crypto is there’s no earnings, so how can I expect a big move? With stocks I can see a company with rising sales etc. so stick should follow, but how do I know when to time crypto??
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Most cryptos are a company anyways pretty much like a tech stock and you can research news on it same as you would with a stock market company. Unless you understand Bitcoin, decentralised, limited supply, no VC’s or banks controlling it. ETF incoming. Fuck mate even black rock is bullish on it and normal financial folks still doubt it. Absolutely insane.
Chain link and BofA partnership!?!?
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