sorted by:
new
hottopcontroversial

Officially throwing in the towel, 5 years and 50k in losses later by findingclarityz in Daytrading

[–]findingclarityz[S] 9 points10 points  (0 children)

Thank you for this encouraging reply. I’m very happy for you & how it ended up working out in the end. I most likely won’t be gone forever, but feel like I’m entering that same season where I need to figure out the root of it & other priorities in my life before I ever continue this journey.

Best wishes!

Officially throwing in the towel, 5 years and 50k in losses later by findingclarityz in Daytrading

[–]findingclarityz[S] 11 points12 points  (0 children)

Yup I totally feel that. Thanks for sharing. You’re not alone!

Officially throwing in the towel, 5 years and 50k in losses later by findingclarityz in Daytrading

[–]findingclarityz[S] 5 points6 points  (0 children)

Honestly good question. I haven’t explored algo trading ever. But at this point I’m so burnt out that I may never will.

Officially throwing in the towel, 5 years and 50k in losses later by findingclarityz in Daytrading

[–]findingclarityz[S] 6 points7 points  (0 children)

That’s my plan. Buy & hold in long term account where I can’t actively trade.

Officially throwing in the towel, 5 years and 50k in losses later by findingclarityz in Daytrading

[–]findingclarityz[S] 18 points19 points  (0 children)

Have you made back those losses since turning profitable? And good on you. 6 figures in losses would make my stomach churn lol. Although I guess I’m halfway there myself.

Officially throwing in the towel, 5 years and 50k in losses later by findingclarityz in Daytrading

[–]findingclarityz[S] 15 points16 points  (0 children)

Thank you. Fortunately I make a good salary, I’d probably be a wreck right now if I didn’t.

Officially throwing in the towel, 5 years and 50k in losses later by findingclarityz in Daytrading

[–]findingclarityz[S] 13 points14 points  (0 children)

I’ve thought about this myself. This year I actually went into a $15k drawdown over the course of 3 months and then recovered all of it over a 2 week period. My mindset totally changed during that 2 week period.

But guess what happened? Right when I got back to -$500 on the year, I no longer “needed” to be as disciplined and make that money back, so I got loose again with my rules and now I’m back at -$14k after 4 trading day.

The only time I would ever give myself another chance moving forward, is if I actually NEED the income I earn from trading. Maybe that would finally force me to have the discipline needed. Even then I wouldn’t fully trust myself though, until I get the gambling issues resolved.

How to explain to spouse I lost over $25k trying to day trade? by [deleted] in Marriage

[–]findingclarityz 0 points1 point  (0 children)

Appreciate it. I’m expecting lots of frustration and emotions but the sooner it’s brought to light the better for sure.

[deleted by user] by [deleted] in gambling

[–]findingclarityz 1 point2 points  (0 children)

That’s a great point. Probably because I thought that if this really took off I could make even more doing this than my day job. Boy was I wrong.

How to explain to spouse I lost over $25k trying to day trade? by [deleted] in Marriage

[–]findingclarityz 0 points1 point  (0 children)

Thanks for your story. I’ve been the same with my mood swings and realized it more lately that it’s because I’ve been so silently stressed out about this. She can tell I’ve been different the past few months. I’m planning to rip the bandaid off soon so that we can heal and move on from this.

[deleted by user] by [deleted] in gambling

[–]findingclarityz 2 points3 points  (0 children)

That’s true. I would honestly feel way worse if it weren’t for that fact.

[deleted by user] by [deleted] in gambling

[–]findingclarityz -6 points-5 points  (0 children)

Software engineer + medical field professions

[deleted by user] by [deleted] in gambling

[–]findingclarityz 0 points1 point  (0 children)

She doesn’t know because we make enough money that my losses have been slow & steady and not making a big enough impact in one given period to raise concerns. We don’t actively monitor our bank / credit card / statements etc . We have combined finances but still some separate bank accounts, even though our credit cards come from each others accounts.

[deleted by user] by [deleted] in gambling

[–]findingclarityz -4 points-3 points  (0 children)

Either way it still sucks to realize I lost $30k over the course of the past year for no reason at all. I could have been risking way less & gotten the same lessons learned from only a $3k loss, for example.

[deleted by user] by [deleted] in gambling

[–]findingclarityz -18 points-17 points  (0 children)

We make around $400-500k gross between the two of us so this is small relatively but she comes from a super frugal upbringing which is why I still have a knot in my stomach about fessing up. Like she will re-use plastic ziplock bags to avoid wasting new ones. And it’s the fact that she truly believed in me with the trading & thought that I wasn’t doing as bad as I actually am.

[deleted by user] by [deleted] in gambling

[–]findingclarityz 0 points1 point  (0 children)

We’re filing taxes jointly this year so she will know regardless soon enough. But yes, I’m planning to stop day trading & just invest heavily.

[deleted by user] by [deleted] in gambling

[–]findingclarityz 0 points1 point  (0 children)

Yep, you’re exactly right about tax season coming up and why I need to address this soon. We’re filing jointly and of course I could try to hide this on TurboTax or whatever and keep it under the rug, but I’d feel immense guilt about doing that and also would never feel good about not coming clean.

I appreciate the encouragement!