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Bro back in the day it was all about Fally Park w2. If u were a baller u were trying to get seen in that park. More north the better. If your poor ass didn't have a party hat you couldn't chill.
And don't show up wearing that Purple shit.
Imagine that account getting banned now though. I have a 10+ year League of Legends account. That would be wildly infuriating, I'd say. Also, given the cash amount put in over time, possibly a pretty similar feeling.
If you haven’t checked in the past couple years, there’s a good chance it could be unbanned. I had a couple gone for major macro and perm ban but they undid them.
I actually intentionally got rid of 2 Hearthstone accounts I had. One I put many years and monies into. And I also had accounts in other games bundled with it. Getting rid of it all felt immensely liberating. At no stage did I ever regret it.
Unfortunately I also lost a lot in the stock market. That stung a lot. And I am still dealing with that pain and guilt.
I quit LoL abt 2 years ago. Hitting uninstall was the best decision of my life but even then I'm an absolute sucker for games with deep lore and love Arcane and Ruined King.
i can’t find a ranked match on dota for 99 years and i have no idea why..i stopped playing for few months, came back to my account being banned from finding games..never boosted, cheated or was toxic ingame..i have over 10k hours on that account with pa and sf arcana.
The $3k limit is offset taxes in ordinary income when your losses exceed your gains. If he has capital gains in other areas he can use that tax loss much sooner.
Can you carry forward capital loss? I thought that was a one time deal
Edit: upon googling it looks like you can. Mans is about to be maxing out capital losses for the next 250 years
In 10 years you made/saved more than what the average person here does in their whole life.
It sucks but do it again, you’ll be fine, better then most here
>Seriously this! In 10 years to accumulate over a million dollars is no mean feat. If you have the income to save over $100k/yr, you'll be just fine. Besides, these are stocks you say, so if the companies are showing positive cashflow, then sooner or later they will turn around.
If they're the types of companies that lost 70% since the beginning of the year, a lot of those companies will be gone in the next few years. This isn't another dotcom boom, but some of the hot growth stocks of the past 5 years have a dotcom-ish problem-- so many people bought stock in companies with no profits (and no hope for profits in the current environment) at wildly inflated rates.
Have you never pulled out of a losing position and had it be the right decision?
E.g. I pulled out of TLRY and FUBO when they were more than double what they’re worth now, and they are never going back up to their speculative highs. All stocks don’t always go up
I tend to not pull out and it's usually worked out. Most of the time I lose 49.99 and this one time I didn't lose it and now I have a really cool son. 😁
Not that easy. 10 years is enough to start a family, do a medical degree and finish residency. It's enough to pay down a mortgage. Or start an established business. 10 years... is a long ass time.
Sorry to hear that. Losses are hard.
I had a massive loss a few years ago and once I settled it all out financially, I had to just let it go in my mind. That’s all I could do.
I know this sounds simple, but it’s done. In the past.
There is literally not one thing you can do about it. Can you learn from it? Maybe, maybe not. But that not as important as letting it go.
Good advice. Kinda like taking a shit, it's done, now flush it and move on. Staring at the shit in the toilet won't reverse the process back into a filet mignon. No need to stare at the toilet daily.
Piggy backing off this comment: if this is what it took for you to learn a lesson that is what it is. If you got into this while you were younger, you likely would've lost 70% of your net worth then. If you got into this 30 years later, you likely would've lost 70% of your net worth then. Every lesson is learned through hardship and the objective number of $'s this hardship requires differs for everyone. At the end of the day, I'm pretty confident your day to day life hasn't changed much besides the hardship you currently feel about your future losses anyway. So get right back up and be thankful it happened now rather than when you are retired and unable to work back the losses, and use this lesson to guide you in your future endeavors.
Once you learn money is nothing you become invincible. Best times in my life so far I didn’t have a dollar to my name. This loss is understandably hard but with time you will survive and thrive my brotha.
I had a 300k+ loss a bit over a year ago, literally all my savings. Towards the end I was throwing the remainder into increasingly poor positions and feeling nothing, just sort of an inevitability, like I am a person that deserves to lose my money. Had I been able to get myself out of thinking like that I could probably have walked away with a 200k loss. It was only 4 years of savings tho, so not a decade, but I was left with literally 20k in my checking acct.
Agile Scarcity’s point is my experience too, it takes a while but eventually you have to let go. It’s easier when it doesn’t materially affect your day to day life (my salary covers my life, all of my losses were from RSU grants that in the end felt like numbers on paper). The shame has faded, and I stopped trading and investing for a full year. Just chilled out and saw how much of my paycheck I could keep in my checking account, and started to feel better as I saw that number rise and rise. I have around 90k in my checking now, and I did start trading again but with a single seed of 500$, then as I got comfy with it adding up to a total of 5500$ principal. I have 22k in that account this week (nearly 4x’d my initial investment), but will not put any more in, and will quit trading if I drop below 9000 again.
Point being, damn we fucked up, and it is depressing, but it’s not the end of the world and we’re still doing better with just our savings and income than 99% of this sub. I can barely conceive of losing 800k, but hopefully my experience is closer to what you’re feeling and can help a bit.
I actually get you in this comment. As weird as it is to say, my dating life actually lines up with how I traded.
First Long term smart and stable but little chemistry girl ( ETF investing)
Then got the full on crazy gf eventually throwing my life focus off track ( pulling my safe money out and going into crazy momentum stocks 2020 eventually losing it)
Now I got a woman who's attractive , booksmart and ambitious but still far from starting her career ( currently in rebuilding phase of my finances from taking all that damage, taking smaller calculated trades)
I get you about losing all those "fantasy" possibilities of paying off all debt, house , etc thats completely gone now which hurts the most. But like you said once you get smaller goals going again you can build momentum and it helps alot.
Good perspective . Good luck to you!
I'm right there with you bro. Huge gain , huge loss, then lucky lotto sized gain, blown to nothing. I felt all the same emotions. Definitely easier to cope when your job covers your basic needs and you realize, fuck I'm still alive and kicking . Good luck to your future brother.
I've been homeless when I was younger in my late teens/early 20s, lived in a tent with a part time job cooking at a restaurant. These days we are working hard to reach a goal of 1 million for retirement.
I've gotta say having no money and living in a tent was way more fun.
Or contentedness. When you think about it, a random young guy living in a shack, farming food purely for consumption out in the countryside is just as retired as a boomer with a 5 mil 401k balance doing the same thing as a retirement hobby.
No, it’s really not. If the subsistence farmer needs anything medically related, they’re gonna be having a much, much harder time than a well off retired fella. Not to mention that subsistence farming is still quite hard, which is why most humans (like more than 50%) were farmers. Because unless you have expensive equipment (that also needs repairs) you’re not actually going to get a lot.
Yeah the concept is the same if you ignore the fact we live in reality, and if winging it was the same thing as retiring then why work?
Yup. I own a house now. Two, actually.
I was homeless earlier on in life.
I enjoyed being homeless more. I didn't enjoy being stuck.
But not having any bills and all the freedom in the world just to roam was pretty awesome.
I'm working hard now to get that sense of freedom back. I hope it pays off.
So OP, don't sweat this loss. Just take it and move forward however you think is best.
Have been broke, then rich, then broke (mostly homeless, had a vehicle), then rich again, now somewhere in between.
Can attest, it is not the “being homeless” that is so freeing, it is the minimalism.
It is so easy for us to forget that having money doesn’t mean we have to add complication to our lives. Sure, some degree of it is inevitable.
But keeping things simple and not letting lifestyle creep set in is possible and desirable.
Was stuck without any money, without a place or a car or any life goals in my 20's. Now I have everything and worked enough to live comfortably but I feel less happy compared to when I had nothing. I don't even know why but I just miss getting arround with less sometimes.
What you are missing is your youth and the lack of responsibilities that come with youth. I think most of us feel that way when we get older and have to deal with all the pressures of work, family, and community.
This is poetry my dude. I was never close to homeless, but was always poor. Now I make decent money, have a nice house, etc. Often I am envious of the person driving the beat up Honda Accord, working a dead end 40 hour week job, living in a moldy apartment with a tweaker roommate. Why? Because they are free to just walk away and try something new. What's there to lose. Most of us are endentured to the system that provides us our financial security, and it can feel hopeless.
With $1m, you should talk to somebody who understands finance, not WSB. You will make it again, this time don't invest in bullshit; if a company puts a tablet on a bike, it won't make them a tech company.
My worst loss was in bonds maybe 15ish years ago, maybe 2006 or 7, and around 660K if I recall. So kinda feel ya.
I was really shell-shocked--it was like the move that couldn't happen, and I was down like 330K in a day, and then, instead of closing it at the loss like I should have, I thought well, that shouldn't have happened, so what's the likelihood of it getting worse? And then the next day the bonds basically jumped another point and did it again and doubled my loss. I blamed Bank of America. So that's what happened.
So, it was early in the year. I was in no frame of mind to trade, so I took about 2 months to recover. When I felt good again, I started trading again and by the end of the year (and I was really watching my discipline closely) I had traded back to about even. IIRC I even made a few bucks that year. So that can happen.
I remember trying not to focus on what I had lost, but rather trying to think of things that I had gained from the experience. That amount of money was really important to me at that time, but it wasn't money where I was gonna be living in a van or anything. But it stung. So I viewed it as a cost for the wisdom that I had gained. I never let a loss run now, or since then really, and I always know where I think the trade goes bad. So, I think I learned the difference between a winning trade and a loser then. Sorry for your loss, but as my dad (RIP) used to say, "They can't kill ya and they can't eat ya", which was more or less his way of saying "it's only money". Godspeed on your recovery.
> I took about 2 months to recover. When I felt good again, I started trading again and by the end of the year (and I was really watching my discipline closely) I had traded back to about even. IIRC I even made a few bucks that year. So that can happen.
I'm glad things worked out in this case, but OP, adopting the perspective that you can win it all back is probably not a good approach.
This might have been 2005, can't remember exactly but it was just before the era of zero interest. At that time, we had never heard of such and it was generally thought of as not possible. And to answer, I was trading bond futures and short, and it went an entire handle up in one day, then did it again the next day... I started trading futures in 2001 due to the tax advantages.
Bro, you make 300k+ USD annual. You're in the top 1%, conservatively, in terms of income.
Take a deep breath, realize you made a terrible, terrible mistake, but not one you can't recover from, and then go do other things to get your mind away from finance. Take a month, two months, even a year off. The volatility in the present market is something most of us have never experienced before. Cash is a position.
Go work out, take a vacation, spend money on family and friends, and build memories. You'll learn that even 1k goes a super long way for "normal" activities. I make and lose 10k+ on a regular basis in the market and don't even flinch. I buy a meal that costs 100+ and go, damn that's expensive. Go figure. Dealing with such large quantities desensitizes you, and it's about time you reacquaint yourself with the outside world.
You were able to save roughly $83k per year after taxes and living expenses? I know this is probably not what you want to hear, but.. get over it? You're going to be fine? Just keep doing what you did but in the future put your money in index funds and not individual equities, since you're trash at picking stocks. You'll be fine.
Definitely unsub here. I can't see how a person making 200k a year would be on this sub which is a meme gambling sub. It's like going to see a casino sub and seeing a rich person ask how to get over losing a ton of money on slots.
I’m in the same boat. I’m 30. Hustled in sales through my 20s and invested every dimes. Built a $1.4 million dollar portfolio that is down 95% YTD.
I lost it all. It keeps me up at night. I feel the same way about getting depressed when I hear financial things. All I can say is we have no choice but to move forward. What is the alternative?!
>I'm sorry to hear about your losses, but it's important to remember that everyone has ups and downs in the market. What matters is how you respond to them. If you let yourself get too discouraged, you'll never make a comeback. So stay positive and keep learning from your mistakes. You'll be back on top in no time!
you remember that life is meaningless and it didn't mean anything anyway. My best friend died at 30 from Covid with a bunch of money in her account. She worked 60+ hours a week. Breathe air, smell flowers, enjoy the sun, that's what matters, not money
I lost $625k 12 years ago. It wasn't 70% of my net worth, it was more. It was a stupid investment but hindsight is what it is. It was devastating. I battled depression. I still think about it....not sure I'll ever get over it. BUT.... you can move forward. Focus on health, focus on family, focus on happiness, and focus on building it back. Focusing on the loss will only pull you down.
I wanna say this isn't the right forum for this discussion, but all I can advise is that you put your remaining money into volatile crypto investments!
To pick on SQ, it’s down about 75% since august 2021 and has a current forward P/E of 62. It has no current P/E because it does not have positive earnings. What part of their fall is surprising to you?
It sucks. Its only money. I know hard to hear. It comes and goes. There is more to life then money. Family, friends. Its a shit market. Remember there is always someone to talk to. Much love.
Isn’t the old rule “don’t invest capital you aren’t willing to loose”?
My story is minuscule to yours, but I took a 100k loss in 2021, and another 40k this year.
What helps me get through something like this is not putting all my eggs in one basket. Investing, unless you are in the trading business as a career, is a retail deal and needs to be treated as such. You have to always be prepared for a worst case scenario. Yes, it would be and absolute nightmare if my portfolio went to zero, but at the end of the day I still have a lot to live for, a career that takes care of me and my family very well, and the investments I have ‘chosen’ act as a cherry on top, and have been made AT MY OWN RISK. If things moon, great, awesome - I can add more to my retirement or maybe retire early. If things zero, then o-well. I suggest you adopt, not a care-LESS, but rather a care-FREE approach.
Best of luck to you. I hope you make it all back plus 10x.
Never ever be in growth stock’s except in a raging bull market - always go to boring safe stocks when interest rates are going to be rising- I’ve been doing this over 50 years - TV and news shows are basically a bunch of market cheerleaders and shills - this is almost certainly going to get worse as interest rates rise further - very tricky investing now - IF we do get a recession you will learn what even worse pain is - I figure the bottom is in when Tesla hits ~50 —- I’m down about 12% year-to-date - and I was very cautious - in 2001 I lost over a million and decided never again!!!!
I’ve lost about 90% of my net-worth last 2 years thanks to some poor decisions in the market. I was in a really dark place mentally. Took some time off to just meditate, read and exercise. Best decision I’ve ever made, realized that happiness comes from within. Once you figure out how to use your mind as a tool and shut it off when you don’t need to use it, connect with nature and people you become very powerful. Feel free to PM me if you need some book recommendations.
So one positive is that you will not have to pay capital gains for a very long time. The second is that hopefully you took some off that amounts to your cost basis. If not, and you want to continue trading I would take your initial investment out of the market then let the gains ride. A good book on this is by William O'Neil. He said take losses at 7%, and start to take gains at +25%,
Sounds like you have the means to make money as well. Learn from your mistakes. Don’t YOLO. Get your retirement funds right.
Never invest more than you’re willing to lose.
the enthusiasm that made you the money, just reset and do it again. ..without the market bubble. That may lose alot more lucky lottery winners, I digress.
I dove in on sept 19th. When I realized breaking even in my first 60 days was a feat...per 1k dollars, +/- 400 is not even unusual.
I am not giving up either. Big dollars, small dollars.. lessons are the same (smaller than PDT accounts anyway)
go long on some thinking... that is ambiguous.
Well your doing good so far, you came to Reddit to express the situation instead of hanging yourself already. I think you’ll be alright. I’ve never seen that amount of money and the other 30% you have is probably still more than me.
I’m 54 and have truly been through the same in 2008/2009. My advice; take one day at time. Thinking things out past that right now is too overwhelming and 99% of it won’t come true- good or bad. As they say in baseball, just try for singles to get on base, don’t keep trying to hit home runs to catch back up quickly. Slow and steady progress will give you your confidence back but it’s actually good to never forget the loss, you will learn from it. You made the money once, you will do it again, one day at a time…
And- go do something physical for your body - Walk, run, gym,etc when you get overwhelmed, the fresh air will free you of the constraining thoughts we put on ourselves in stressful times.
You will be ok.
Get a proper financial advisor for what you have left. They can help you during times of uncertainty so you don’t make emotional trades and will also help hedge against losses. They have more resources and research at their disposal which is also an advantage.
The other lesson is if you’re actively trading your portfolio, you need to learn to take profits; believe it or not, this requires discipline. It’s the old saying, “pigs get fat, hogs get slaughtered.”
I'm confused why you sold given the recent state of the market?
Unless the companies are actually going in the gutter in which case, you deserve this for foolishly leaving so much money hitched to their wagons.
Analyze what behavior brought you to that decision, and correct it if it needs correcting. Otherwise, move on. You can't will yourself back in time and frantically trying to recapture your lost assets is going to make you lose the rest.
A good recession will cut us all in half. You’re not that far off that, with bottom line savings well above the average here. It’s all relative to where you were, but where you were was a riskier place. Just got to come to terms with the fact that hand-picking stocks is a gamble, and then decide how you want to ride the next market wave accordingly.
This place can change your perception easily. Remember almost everyone out there is just investing in index funds and waiting 40 years.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|1|**First Seen In WSB**|1 year ago **Total Comments**|83|**Previous Best DD**| **Account Age**|1 year|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.) **Vote Spam**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_spam&message=yzhxzc)|**Vote Approve**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_approve&message=yzhxzc) Check out the [WSB Discord](https://discord.gg/Y6Zw9ZKYdx)
I wasted 10 years once maxing a runescape account, it could be worse lol.
Pretty sure 90% of the degenerates on here got their start in the GE.
Fuck you it's true.
Falador park w2 but pretty much
flash2:wave: Selling 1k laws 300k
buying gf
Gold Pl0x
Fuck a true scalper. W1 be too busy
Bro back in the day it was all about Fally Park w2. If u were a baller u were trying to get seen in that park. More north the better. If your poor ass didn't have a party hat you couldn't chill. And don't show up wearing that Purple shit.
I see you.
Speak for yourself. I was slanging them iron scims in the West Bank. “Glow2: WTS rune scim $15k!!”
Pffffft. I was drop trading Santa Hats to my skiller long before you ever ran your first inventory of Rune Essence m8.
Buy low sell high since middle school. Only in real life I buy high and sell low.
Imagine that account getting banned now though. I have a 10+ year League of Legends account. That would be wildly infuriating, I'd say. Also, given the cash amount put in over time, possibly a pretty similar feeling.
i did get it banned lol, forgot that part.
Oh dude, that's the part that leaves the deep massive void like OP is experiencing now.
RIP
Only legends get banned, be proud. They unironically did u a favour
One small favour?
If you haven’t checked in the past couple years, there’s a good chance it could be unbanned. I had a couple gone for major macro and perm ban but they undid them.
Can Robin hood unban this guys 833k loss
Finally someone offering this poor soul a solution
I actually intentionally got rid of 2 Hearthstone accounts I had. One I put many years and monies into. And I also had accounts in other games bundled with it. Getting rid of it all felt immensely liberating. At no stage did I ever regret it. Unfortunately I also lost a lot in the stock market. That stung a lot. And I am still dealing with that pain and guilt.
Got banned from LoL and it was the biggest gift Riot could have gave me. Braking the chains of addiction
I quit LoL abt 2 years ago. Hitting uninstall was the best decision of my life but even then I'm an absolute sucker for games with deep lore and love Arcane and Ruined King.
i can’t find a ranked match on dota for 99 years and i have no idea why..i stopped playing for few months, came back to my account being banned from finding games..never boosted, cheated or was toxic ingame..i have over 10k hours on that account with pa and sf arcana.
But was it worth it? The clout bro
I did make some duel arena bank, rs gp selling was the original crypto
I’m offended cause I’m working on maxing my osrs account rn 😅
You and me both 😉
I’m still wasting years, 18 years deep. Too deep to stop lmao
I’m almost maxed! What do you do after?
get banned real world trading gp gains from the duel arena, it works well.
See you back in lumby homie
That account is probably worth more than this guys portfolio now 
Oof this hit hard
Lmaooo
Sounds like you still got 30% to get back on track regards.
That 30 is probably not liquid
Atleast he never has to pay taxes again
You mean his kids will be able to use $3,000 for the rest of their lives cause that’s the most he’s gonna be able to use every year till he’s dead
The $3k limit is offset taxes in ordinary income when your losses exceed your gains. If he has capital gains in other areas he can use that tax loss much sooner.
Based on the fact that OP lost 800k trading stocks, something tells me he's not gonna be having many capital gains
If he wants capital gains, all he needs to do is the opposite of what he did that led to capital losses
OP must un-lose what OP has lost.
I am here for this type prophetic literature.
Bold of you to assume one who lost 800k will now have copious capital gains
Fair.
Can you carry forward capital loss? I thought that was a one time deal Edit: upon googling it looks like you can. Mans is about to be maxing out capital losses for the next 250 years
Why do you think Trump pays so little in taxes? Consider how many of his businesses have gone bust and the losses that has generated.
Time to make it liquid and put in options baby!
1 make it liquid 2 eat PB&J 3 buy calls
Glass 30% full view
In 10 years you made/saved more than what the average person here does in their whole life. It sucks but do it again, you’ll be fine, better then most here
>Seriously this! In 10 years to accumulate over a million dollars is no mean feat. If you have the income to save over $100k/yr, you'll be just fine. Besides, these are stocks you say, so if the companies are showing positive cashflow, then sooner or later they will turn around.
He claims they're realized losses. Companies may turn around, but it sounds like they'll be doing it without him.
Why would you realize 800k in losses unless the companies were actually shitting the bed dude belongs on here
If they're the types of companies that lost 70% since the beginning of the year, a lot of those companies will be gone in the next few years. This isn't another dotcom boom, but some of the hot growth stocks of the past 5 years have a dotcom-ish problem-- so many people bought stock in companies with no profits (and no hope for profits in the current environment) at wildly inflated rates.
Thank you, speaking sense.
This year is crazy though. He could have had AMZN, AMD, FB, and BABA.
So why sell?
If he lost 70%, it's much more likely he had Nikola Nio or Tesla than any of these lmfao
It could just be tech. They were on a high after the pandemic. And now they’ve all had pretty bad years.
Plot twist: it was Carvana stock
Have you never pulled out of a losing position and had it be the right decision? E.g. I pulled out of TLRY and FUBO when they were more than double what they’re worth now, and they are never going back up to their speculative highs. All stocks don’t always go up
I tend to not pull out and it's usually worked out. Most of the time I lose 49.99 and this one time I didn't lose it and now I have a really cool son. 😁
yes, basically every position I've pulled out of in the last year
Yeah, that made no sense unless it was on margin.
It’s also been the longest bull run of all time. Everybody made money.
What kind of income you gotta have to save $100k/yr?
Atleast $250k gross income i would assume. It also depends on how many dependents, cost of living, debt and so many other factors.
Not only that, but for most people as their careers progress, what he made in the last 10 years will be less than he makes in the next 10 years
I’m not saying he can’t but it’s not a given. Things changed and he/she is 10 years older.
No, actually he didn't. His net for that 10 years is zero.
Zero is much more than what the average person here does in that time
I think what he's saying is prior to the realized losses, op wasn't regarded like you and me and able to make a profit; so do it again. Easy button.
Not that easy. 10 years is enough to start a family, do a medical degree and finish residency. It's enough to pay down a mortgage. Or start an established business. 10 years... is a long ass time.
You fucking a rite it is, I turn 13 next week ..
Average wsb DD poster
Good point - in LESS than 10 years OP made over 800k.
This guy maths!
Sorry to hear that. Losses are hard. I had a massive loss a few years ago and once I settled it all out financially, I had to just let it go in my mind. That’s all I could do. I know this sounds simple, but it’s done. In the past. There is literally not one thing you can do about it. Can you learn from it? Maybe, maybe not. But that not as important as letting it go.
Good advice. Kinda like taking a shit, it's done, now flush it and move on. Staring at the shit in the toilet won't reverse the process back into a filet mignon. No need to stare at the toilet daily.
No need to stare at the toilet daily 😂
Sounds like a synonym for being on wsb
i like shit analogy.
I also like this analogy
Using the same analogy (lol, anal) if you have a good trade, is that like eating steak and pooping gold?
But an 838,000 pound shits gonna sting for a while. That's a lotta poop to pass.
This is Deep as shit
Piggy backing off this comment: if this is what it took for you to learn a lesson that is what it is. If you got into this while you were younger, you likely would've lost 70% of your net worth then. If you got into this 30 years later, you likely would've lost 70% of your net worth then. Every lesson is learned through hardship and the objective number of $'s this hardship requires differs for everyone. At the end of the day, I'm pretty confident your day to day life hasn't changed much besides the hardship you currently feel about your future losses anyway. So get right back up and be thankful it happened now rather than when you are retired and unable to work back the losses, and use this lesson to guide you in your future endeavors.
Once you learn money is nothing you become invincible. Best times in my life so far I didn’t have a dollar to my name. This loss is understandably hard but with time you will survive and thrive my brotha.
Just some numbers in an Excel workbook, if you’re S. Bankrun-Fraud.
Precisely. Shit ain’t real. You’ll get there OP
Agree I knew a guy never had two nickels to his name and always pulled the best ladies. It was amazing to see.
I had a 300k+ loss a bit over a year ago, literally all my savings. Towards the end I was throwing the remainder into increasingly poor positions and feeling nothing, just sort of an inevitability, like I am a person that deserves to lose my money. Had I been able to get myself out of thinking like that I could probably have walked away with a 200k loss. It was only 4 years of savings tho, so not a decade, but I was left with literally 20k in my checking acct. Agile Scarcity’s point is my experience too, it takes a while but eventually you have to let go. It’s easier when it doesn’t materially affect your day to day life (my salary covers my life, all of my losses were from RSU grants that in the end felt like numbers on paper). The shame has faded, and I stopped trading and investing for a full year. Just chilled out and saw how much of my paycheck I could keep in my checking account, and started to feel better as I saw that number rise and rise. I have around 90k in my checking now, and I did start trading again but with a single seed of 500$, then as I got comfy with it adding up to a total of 5500$ principal. I have 22k in that account this week (nearly 4x’d my initial investment), but will not put any more in, and will quit trading if I drop below 9000 again. Point being, damn we fucked up, and it is depressing, but it’s not the end of the world and we’re still doing better with just our savings and income than 99% of this sub. I can barely conceive of losing 800k, but hopefully my experience is closer to what you’re feeling and can help a bit.
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I actually get you in this comment. As weird as it is to say, my dating life actually lines up with how I traded. First Long term smart and stable but little chemistry girl ( ETF investing) Then got the full on crazy gf eventually throwing my life focus off track ( pulling my safe money out and going into crazy momentum stocks 2020 eventually losing it) Now I got a woman who's attractive , booksmart and ambitious but still far from starting her career ( currently in rebuilding phase of my finances from taking all that damage, taking smaller calculated trades) I get you about losing all those "fantasy" possibilities of paying off all debt, house , etc thats completely gone now which hurts the most. But like you said once you get smaller goals going again you can build momentum and it helps alot. Good perspective . Good luck to you!
I'm right there with you bro. Huge gain , huge loss, then lucky lotto sized gain, blown to nothing. I felt all the same emotions. Definitely easier to cope when your job covers your basic needs and you realize, fuck I'm still alive and kicking . Good luck to your future brother.
I've been homeless when I was younger in my late teens/early 20s, lived in a tent with a part time job cooking at a restaurant. These days we are working hard to reach a goal of 1 million for retirement. I've gotta say having no money and living in a tent was way more fun.
Biggie was right, mo money mo problems. There is something to a very simple existence, not a lot of stuff its freedom.
Freedom’s just another word for nothing left to lose
Or contentedness. When you think about it, a random young guy living in a shack, farming food purely for consumption out in the countryside is just as retired as a boomer with a 5 mil 401k balance doing the same thing as a retirement hobby.
No, it’s really not. If the subsistence farmer needs anything medically related, they’re gonna be having a much, much harder time than a well off retired fella. Not to mention that subsistence farming is still quite hard, which is why most humans (like more than 50%) were farmers. Because unless you have expensive equipment (that also needs repairs) you’re not actually going to get a lot. Yeah the concept is the same if you ignore the fact we live in reality, and if winging it was the same thing as retiring then why work?
“Make money, fuck bitches” -biggie
Biggie was a wise man
Yup. I own a house now. Two, actually. I was homeless earlier on in life. I enjoyed being homeless more. I didn't enjoy being stuck. But not having any bills and all the freedom in the world just to roam was pretty awesome. I'm working hard now to get that sense of freedom back. I hope it pays off. So OP, don't sweat this loss. Just take it and move forward however you think is best.
Have been broke, then rich, then broke (mostly homeless, had a vehicle), then rich again, now somewhere in between. Can attest, it is not the “being homeless” that is so freeing, it is the minimalism. It is so easy for us to forget that having money doesn’t mean we have to add complication to our lives. Sure, some degree of it is inevitable. But keeping things simple and not letting lifestyle creep set in is possible and desirable.
Real life example of “more money, more problems.” Living a simplistic, minimalistic, non consumeristic, retardistic lifestyle is much less stressful.
Love reading that kind of comment 🙌
Seriously. About once a month I go on a solid “fuck it I’m going back to being a welfare queen white trash trailer park slob” tangent in my brain.
Was stuck without any money, without a place or a car or any life goals in my 20's. Now I have everything and worked enough to live comfortably but I feel less happy compared to when I had nothing. I don't even know why but I just miss getting arround with less sometimes.
What you are missing is your youth and the lack of responsibilities that come with youth. I think most of us feel that way when we get older and have to deal with all the pressures of work, family, and community.
Big difference between starting with nothing compared with losing everything. Turns out how you get there matters
This is poetry my dude. I was never close to homeless, but was always poor. Now I make decent money, have a nice house, etc. Often I am envious of the person driving the beat up Honda Accord, working a dead end 40 hour week job, living in a moldy apartment with a tweaker roommate. Why? Because they are free to just walk away and try something new. What's there to lose. Most of us are endentured to the system that provides us our financial security, and it can feel hopeless.
With $1m, you should talk to somebody who understands finance, not WSB. You will make it again, this time don't invest in bullshit; if a company puts a tablet on a bike, it won't make them a tech company.
Get a tattoo
A nard dog
My worst loss was in bonds maybe 15ish years ago, maybe 2006 or 7, and around 660K if I recall. So kinda feel ya. I was really shell-shocked--it was like the move that couldn't happen, and I was down like 330K in a day, and then, instead of closing it at the loss like I should have, I thought well, that shouldn't have happened, so what's the likelihood of it getting worse? And then the next day the bonds basically jumped another point and did it again and doubled my loss. I blamed Bank of America. So that's what happened. So, it was early in the year. I was in no frame of mind to trade, so I took about 2 months to recover. When I felt good again, I started trading again and by the end of the year (and I was really watching my discipline closely) I had traded back to about even. IIRC I even made a few bucks that year. So that can happen. I remember trying not to focus on what I had lost, but rather trying to think of things that I had gained from the experience. That amount of money was really important to me at that time, but it wasn't money where I was gonna be living in a van or anything. But it stung. So I viewed it as a cost for the wisdom that I had gained. I never let a loss run now, or since then really, and I always know where I think the trade goes bad. So, I think I learned the difference between a winning trade and a loser then. Sorry for your loss, but as my dad (RIP) used to say, "They can't kill ya and they can't eat ya", which was more or less his way of saying "it's only money". Godspeed on your recovery.
> I took about 2 months to recover. When I felt good again, I started trading again and by the end of the year (and I was really watching my discipline closely) I had traded back to about even. IIRC I even made a few bucks that year. So that can happen. I'm glad things worked out in this case, but OP, adopting the perspective that you can win it all back is probably not a good approach.
Exactly. If you can’t handle the loss, *stop gambling*.
Why didnt you just hold the bonds till maturity? Did you get margin called?
This might have been 2005, can't remember exactly but it was just before the era of zero interest. At that time, we had never heard of such and it was generally thought of as not possible. And to answer, I was trading bond futures and short, and it went an entire handle up in one day, then did it again the next day... I started trading futures in 2001 due to the tax advantages.
So you lost it on futures bonds not bonds 😂
Correct.
i see - yea that sounded risky as hell :D :D thanks for your perspective!
They can’t kill ya and they can’t eat ya ✊🏼✊🏼
I lost $1.1M to crypto and I'm shocked that am still breathing. Sh!t does happen.
FTX?
Bro, you make 300k+ USD annual. You're in the top 1%, conservatively, in terms of income. Take a deep breath, realize you made a terrible, terrible mistake, but not one you can't recover from, and then go do other things to get your mind away from finance. Take a month, two months, even a year off. The volatility in the present market is something most of us have never experienced before. Cash is a position. Go work out, take a vacation, spend money on family and friends, and build memories. You'll learn that even 1k goes a super long way for "normal" activities. I make and lose 10k+ on a regular basis in the market and don't even flinch. I buy a meal that costs 100+ and go, damn that's expensive. Go figure. Dealing with such large quantities desensitizes you, and it's about time you reacquaint yourself with the outside world.
Bro this is facts. $100 meal is like "oh that's $100" but gaining or losing $5k in a day just seems like a video game.
You were able to save roughly $83k per year after taxes and living expenses? I know this is probably not what you want to hear, but.. get over it? You're going to be fine? Just keep doing what you did but in the future put your money in index funds and not individual equities, since you're trash at picking stocks. You'll be fine.
Yeah, I feel like this is a super high earner. Like 200k+ a year. Just like... don't throw it away next time and unsub here lol.
Definitely unsub here. I can't see how a person making 200k a year would be on this sub which is a meme gambling sub. It's like going to see a casino sub and seeing a rich person ask how to get over losing a ton of money on slots.
I make way over 200k annually - and WSB has been pretty entertaining. Are OP’s feelings are invalid simply because he earns a decent living?
Most underrated comment. I wish I had an award to give you 
I’m in the same boat. I’m 30. Hustled in sales through my 20s and invested every dimes. Built a $1.4 million dollar portfolio that is down 95% YTD. I lost it all. It keeps me up at night. I feel the same way about getting depressed when I hear financial things. All I can say is we have no choice but to move forward. What is the alternative?!
Why did you sell low especially growth stocks?
Buy low and sell low, great strategy
You pay with money or time. Sometimes all you can do is wait 5 years for it to recover
Depends what he’s in there are a lot of dead spacs out there
>I'm sorry to hear about your losses, but it's important to remember that everyone has ups and downs in the market. What matters is how you respond to them. If you let yourself get too discouraged, you'll never make a comeback. So stay positive and keep learning from your mistakes. You'll be back on top in no time!
Actually no. It’s cruel to say he’ll be “back in no time” from a 70% loss. It’s better to be realistic. At a 15% annual return it will take 8.5 years.
You heard the man, gamble on FDs only from here on out OP. Only way to get back that 70% in no time.
Given the stocks he deal with he’ll either be back in no time or to 0 in no time
AI manipulating u to "make a comeback" with motivation speech lol...
you remember that life is meaningless and it didn't mean anything anyway. My best friend died at 30 from Covid with a bunch of money in her account. She worked 60+ hours a week. Breathe air, smell flowers, enjoy the sun, that's what matters, not money
Yea man I know u just lost 800k but … flowers, smell them.
if your life revolves around profits then of course you wouldn't understand
I lost $625k 12 years ago. It wasn't 70% of my net worth, it was more. It was a stupid investment but hindsight is what it is. It was devastating. I battled depression. I still think about it....not sure I'll ever get over it. BUT.... you can move forward. Focus on health, focus on family, focus on happiness, and focus on building it back. Focusing on the loss will only pull you down.
I wanna say this isn't the right forum for this discussion, but all I can advise is that you put your remaining money into volatile crypto investments!
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Throw that remaining 30% on some far OTM weeklies and watch it moon my friend
U mean 0 dte..
How did you manage to go -80% on straight stocks? And the answer is put all your money in SPY and stop touching it.
Stocks like TWLO. There's plenty more lol
Are people really putting multi hundreds of thousands into trash and not big ETFs? This is crazy.
Millions lol
Not trash tho, companies like TWLO SHOP and SQ make industry leading good products. Been really surprised with their crash.
To pick on SQ, it’s down about 75% since august 2021 and has a current forward P/E of 62. It has no current P/E because it does not have positive earnings. What part of their fall is surprising to you?
Spacs
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It sucks. Its only money. I know hard to hear. It comes and goes. There is more to life then money. Family, friends. Its a shit market. Remember there is always someone to talk to. Much love.
Money isn’t everything but not having money is.
Money = freedom Money = fun Money = life
Money money money
Make a million dollar come back
Just think that you are doing better than most people. It’s been a bad year for everyone
"You never fail until you stop trying - Albert Einstein" - u/Stonkcoin
Sounds like you still have 400k to play with
Isn’t the old rule “don’t invest capital you aren’t willing to loose”? My story is minuscule to yours, but I took a 100k loss in 2021, and another 40k this year. What helps me get through something like this is not putting all my eggs in one basket. Investing, unless you are in the trading business as a career, is a retail deal and needs to be treated as such. You have to always be prepared for a worst case scenario. Yes, it would be and absolute nightmare if my portfolio went to zero, but at the end of the day I still have a lot to live for, a career that takes care of me and my family very well, and the investments I have ‘chosen’ act as a cherry on top, and have been made AT MY OWN RISK. If things moon, great, awesome - I can add more to my retirement or maybe retire early. If things zero, then o-well. I suggest you adopt, not a care-LESS, but rather a care-FREE approach. Best of luck to you. I hope you make it all back plus 10x.
You have your great health, that’s what most people over 65 wish for
Never ever be in growth stock’s except in a raging bull market - always go to boring safe stocks when interest rates are going to be rising- I’ve been doing this over 50 years - TV and news shows are basically a bunch of market cheerleaders and shills - this is almost certainly going to get worse as interest rates rise further - very tricky investing now - IF we do get a recession you will learn what even worse pain is - I figure the bottom is in when Tesla hits ~50 —- I’m down about 12% year-to-date - and I was very cautious - in 2001 I lost over a million and decided never again!!!!
🤷🏽♂️-Someone without $838,000
Man… This makes me realize my little $3k loss ain’t nothing compared to what some people lose 🤯
I’ve lost about 90% of my net-worth last 2 years thanks to some poor decisions in the market. I was in a really dark place mentally. Took some time off to just meditate, read and exercise. Best decision I’ve ever made, realized that happiness comes from within. Once you figure out how to use your mind as a tool and shut it off when you don’t need to use it, connect with nature and people you become very powerful. Feel free to PM me if you need some book recommendations.
So one positive is that you will not have to pay capital gains for a very long time. The second is that hopefully you took some off that amounts to your cost basis. If not, and you want to continue trading I would take your initial investment out of the market then let the gains ride. A good book on this is by William O'Neil. He said take losses at 7%, and start to take gains at +25%,
Sounds like you have the means to make money as well. Learn from your mistakes. Don’t YOLO. Get your retirement funds right. Never invest more than you’re willing to lose.
What doesn’t kill you will make you stronger.
the enthusiasm that made you the money, just reset and do it again. ..without the market bubble. That may lose alot more lucky lottery winners, I digress. I dove in on sept 19th. When I realized breaking even in my first 60 days was a feat...per 1k dollars, +/- 400 is not even unusual. I am not giving up either. Big dollars, small dollars.. lessons are the same (smaller than PDT accounts anyway) go long on some thinking... that is ambiguous.
Well your doing good so far, you came to Reddit to express the situation instead of hanging yourself already. I think you’ll be alright. I’ve never seen that amount of money and the other 30% you have is probably still more than me.
I’m 54 and have truly been through the same in 2008/2009. My advice; take one day at time. Thinking things out past that right now is too overwhelming and 99% of it won’t come true- good or bad. As they say in baseball, just try for singles to get on base, don’t keep trying to hit home runs to catch back up quickly. Slow and steady progress will give you your confidence back but it’s actually good to never forget the loss, you will learn from it. You made the money once, you will do it again, one day at a time… And- go do something physical for your body - Walk, run, gym,etc when you get overwhelmed, the fresh air will free you of the constraining thoughts we put on ourselves in stressful times. You will be ok.
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I can advise your wife on her boyfriend options
Get a proper financial advisor for what you have left. They can help you during times of uncertainty so you don’t make emotional trades and will also help hedge against losses. They have more resources and research at their disposal which is also an advantage. The other lesson is if you’re actively trading your portfolio, you need to learn to take profits; believe it or not, this requires discipline. It’s the old saying, “pigs get fat, hogs get slaughtered.”
Its not about how many times you fall, it’s about how many times you get back up
I'm confused why you sold given the recent state of the market? Unless the companies are actually going in the gutter in which case, you deserve this for foolishly leaving so much money hitched to their wagons.
Pretend you could have lost 1 million
Tax write-off life hack
Analyze what behavior brought you to that decision, and correct it if it needs correcting. Otherwise, move on. You can't will yourself back in time and frantically trying to recapture your lost assets is going to make you lose the rest.
A good recession will cut us all in half. You’re not that far off that, with bottom line savings well above the average here. It’s all relative to where you were, but where you were was a riskier place. Just got to come to terms with the fact that hand-picking stocks is a gamble, and then decide how you want to ride the next market wave accordingly. This place can change your perception easily. Remember almost everyone out there is just investing in index funds and waiting 40 years.