via WSB:
I started trading options in October, one trade a week. By January I was up 5k on 15k invested. I kept on telling my self I was gonna quit but I never did. I thought “wow I’m really good at this.”
Then I started losing in trades, buying more SPY calls etc and whenever I was wrong I doubled down which caused me to lose 3-4x more than my gains.
I kept on adding more money but it never worked and by the end of Feb I was down 10k…
I had my final 15k left and I made an “educated” gamble on how SPY would react to some upcoming news and when the news dropped I was up from 15->20k within 2 minutes. I figured fuck it let me just hold until 25k but the market immediately corrected and I lost everything.
So here I am down ~30k from my peak and down 25k of my money that I worked two years to save up in college for.
Don’t know what to do right now and how to tell the family …
If anyone knows a 10x bagger I can use to break even I’d forever be indebted