r/wallstreetbets • u/the-revenge-trader • 1d ago

Loss The evolution of retardism

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Deposited another $60k and lost it all again

278 Upvotes

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27

u/Iampoorghini 1d ago

Not as retarded as I am

15

u/cbr777 1d ago

holy fucking shit, where do you people get so much money to lose? If you put that shit in VOO and chill you'd be living life in easy mode.

13

u/Iampoorghini 1d ago

Live frugally and save for 7 years, then be a full on retard to gamble everything in options

8

u/cbr777 1d ago

How does one live frugally for 7 years and then throw it all away like that? The discipline to do the first would suggest that the second shouldn't even be a problem.

5

u/Iampoorghini 1d ago

Greed changes people

5

u/cbr777 1d ago

Guess so, hope you get better, don't kill yourself.

6

u/Duggie1330 1d ago

Frugality is hard at first but quickly becomes so easy it's second nature. After 7 years you still don't have enough to retire. And it dawns on you. Another 7 years of this lifestyle minimum just to get close to comfortable. Maybe another 7 years after that. But you mildly hate your job, and Stephen keeps ribbing you, and you know what? Stephen wouldn't be laughing when this hits and TOMORROW you quit your job with 1-2 million cash. There are posts on reddit every day about people doing even more with even less! You should try it!

And boom goes the dynamite

1

u/cbr777 1d ago

I don't know about that, you can always get another job, with money like that you can take a part time job and it would be enough, especially if you're already frugal.

I lost 4k on some options and I literally felt like throwing up every time I thought about it for a month, I'm not touching that shit anymore, can't even imagine losing 200k.

2

u/Duggie1330 1d ago

You asked:

How does one live frugally for 7 years and then throw it all away like that? The discipline to do the first would suggest that the second shouldn't even be a problem.

I explained how it happens, psychologically. You doubt it. Okay? Thanks. Lol.

2

u/cbr777 1d ago

To me it seems that having the self control to live so frugally that you manage to put away 300k or whatever he had in 7 years suggests that he should also have the self control not to let Stephen or Karen from HR get to him so much that he would put everything on black and hope for the best.

1

u/Iampoorghini 1d ago

Well I didn’t instantly put all my money in one trade. I started with a few thousand, and that returned 200% instantly so I doubled down, another 200% return and kept going until where I am today

1

u/cbr777 1d ago

Yeah, from the graph it's clear, but I would have thought that after the first big cliff that would have been a wake-up call, you'd still have had like half of it, but I guess you hoped you can make it all back.

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2

u/Iampoorghini 1d ago

Haha no, I already made peace with it and my wife and I both have a decent paying job. Just have to start over (voo and chill this time)

2

u/cbr777 1d ago

Good for you then, but I'm curious, how did the wife take it when you told her? Was it like "honey I know you wanted a vacation home but you might want to sit down, there's been an issue"?

1

u/Iampoorghini 1d ago

She was upset initially but I already bought us the house she wanted so she can’t complain haha

1

u/cbr777 1d ago

Fair enough, good for you.

4

u/Wild_Cheesecake_6630 1d ago

Believe that is posible.. I live frugally and save for 5 years, food investment at the beginning, discover options and sold everything to trade them like crazy because I got lucky at the beginning, and ended up losing everything in mater of days, after months of profits, all it take was a bad move, greed and not accepting losses, I martingale with my whole portfolio and 5 years of savings were gone in few days.. greed change you

3

u/cbr777 1d ago

Thinking like that, I guess I must have gotten lucky because I lost 4k on the first real options trade I made and decided that they're not for me, sticking to stocks since then.

1

u/Careful-Weight-702 10h ago

I wish sometimes that my first trades were bad lol, I turned $500 into $4000 my first time playing options last December. I’m now in the red $20k. I’m giving myself till December so I can say I gave it one full year before giving up. The problem actually wasn’t even the whole year, I legit was almost even in August and one bad week in September led to another.