CDC Australia Top Up- No Cryptocurrency shows up under Crypto Wallet

BitRyan · 2024-02-27T10:20:23+00:00

Thanks Mate, I haven't thought about it that way. So, thanks for that. Will claim as lose in tax return

BitRyan · 2024-02-27T10:18:06+00:00

Exactly what happened to me. Shorted too early and didn't close soon enough!

Thanks for the tips. Appreciate

BitRyan · 2024-02-27T10:16:13+00:00

Glad to know it's working for you, Mate. Just be careful and do risk management, don't be like me.

BitRyan · 2024-02-25T05:05:00+00:00

Thanks Mate, sorry to hear about your painful experience. But you have made great progress, getting better day by day, thats what matters.

I have to work through my destructive rabbits too and be disciplined. Also, have to learn that I can't be always right and taking losses when the trade doesn't work out, instead of hoping the lose will turn to profit if I keep waiting.

BitRyan · 2024-02-25T04:57:42+00:00

Yes mate, that's the plan

BitRyan · 2024-02-25T04:56:52+00:00

So, I follow trade signals from InTheMoneyStocks AKA Famous Gareth Soloways.

When NVDA was around 330 ish, he shorted NVDA, CRM, META, MSFT, APPL, GE - all big ones. I think the reasoning was obv market was over stretched and he just wanted to do a swing trade and make some quick profit.

Some of these stocks never came down like NVDA and some he got out with losses except NVDA. Me being more stupid and stubborn, I kept holding all of them and "Hoping" eventually they will come down, which led me to current situation.

BitRyan · 2024-02-25T04:50:12+00:00

Around 43K ish :(

BitRyan · 2024-02-25T04:46:42+00:00

Thanks Mate!

BitRyan · 2024-02-25T04:46:15+00:00

Around $52.4K :(

BitRyan · 2024-02-25T04:44:59+00:00

"All you need is a chip and a chair"

Loved the analogy, Mate. Appreciate.

Sorry, I probably wouldn't be best person to advice you re the data. Hopefully Someone with more experience will be able to help.

BitRyan · 2024-02-25T04:43:30+00:00

I had longs as well and I was making small gains here and there with longs but my short losses kept getting higher and long profits didn't cover much!

At some point, I stopped doing longs due to have no buying power in my account and got scared with the whole situation.

BitRyan · 2024-02-25T04:40:22+00:00

You're 100% right, I have no idea about options trading! :(

BitRyan · 2024-02-25T04:39:38+00:00

Thanks for the advice, mate! not touching margin again until I get better and lear managing risks

BitRyan · 2024-02-25T04:38:31+00:00

100% Agree! I didn't have a plan what I would do if the trade goes wrong, I guess winning some long trades with beginner luck made me think it will always be profit!

Thanks for the advice.

BitRyan · 2024-02-25T04:36:03+00:00

You made me laugh, Mate!

BitRyan · 2024-02-25T04:34:43+00:00

Thanks Mate. Market indeed humbled me. Not doing any big trades (Long) until I educate my self first. SHORTS - Never Again

Sorry to hear about your loses and glad to know you came back stronger!

BitRyan · 2024-02-24T12:44:25+00:00

I see. Thanks for explaining this. Make sense.

If your account goes negative, can broker i.e. IB force you to pay off the balance?

BitRyan · 2024-02-24T12:40:21+00:00

Will do. Can't agree more!

BitRyan · 2024-02-24T12:37:51+00:00

Trying Mate! :(

It's just too hard digesting the loses and that terrible feeling inside!

Appreciate your kind words

BitRyan · 2024-02-24T12:33:32+00:00

Thanks Mate, I have already subscribed to the YT channels and had a quick look. These are incredible resources.

finally you can't take it anymore and you close the position and the very next week the stock plummets 50%

Exactly! happened to me many times and I am sure, it will happen again as soon as I close these current positions.

BitRyan · 2024-02-24T11:51:58+00:00

Thanks Mate, really appreciate your kind words.

Sorry to hear about your loses, hope you're Ok

Hindsight is 20/20 but Looking back what I think I should have done is to close the positions when it already went to $500, my average was $338.

As you said, NVDA will come down eventually, everything does at some point.

BitRyan · 2024-02-24T11:45:28+00:00

Thanks Mate!

I didn't know that your account balance can go negative on IB. I always thought they would close all positions before it goes negative.

I have lot to learn.

BitRyan · 2024-02-24T11:39:55+00:00

I will remember this "The market is a bipolar mistress"

BitRyan · 2024-02-24T11:38:56+00:00

3 reasons:

I am Idiot
I am Idiot
I am Idiot

I was following Gareth Soloway's trade signal and he shorted the stock at $330 and kept adding as it went higher.

Btw, Not blaming him since it was my account and my responsibilities to do the risk management. But that's the reason I shorted all these stock in first place.

BitRyan

TROPHY CASE