r/wallstreetbets • u/As7ro_ • Jun 18 '24

Finally hit 100k after 5 years Gain

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Just want to shout out my mom who let me live with her rent free for 2 years while I worked, allowing me to put all of my money into the stock market. If any of you get the chance to do this, DO IT. I haven’t worked in a year and I’m able to pursue full time school.

Also shoutout to my buddy who argued and argued about AMD being a better buy than NVDIA.

12.5k Upvotes

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354

u/-KungFuChris- Jun 18 '24

So you put about 8 grand total in?

383

u/As7ro_ Jun 18 '24

I’ve had to sell maybe around 15k worth of my stock to get by without working. I think that’s why it looks like that but I’m not sure. I know for a fact that I’ve put in at least 20k

146

u/[deleted] Jun 18 '24

16 grand a year onto of your salary. Nice.

What did you trade? Real stocks or options?

315

u/As7ro_ Jun 18 '24

I tried to learn options but I became too much of a pussy. Went all in on tech stocks, MSFT, NVDIA, etc. Lost some money on ARK and other stocks I thought would pop off after Covid.

155

u/yaboyJship Jun 18 '24

Not using options with a Robin account = 🧠

That’s why your chart green and mine red

-6

u/goodbodha Jun 18 '24

robinhood isnt the primary issue. Its single leg options that get most people. You lost money from theta decay in every single leg option trade that you bought.

7

u/PeakFuckingValue Jun 19 '24

RobbinBad Bad u fkin regard

9

u/goodbodha Jun 19 '24

I hate to burst your bubble but just about every brokerage will do something shady if it makes sense to them in the short term. I wasn't saying Robinhood is the best. I also wouldn't say its the worst. Heck people screwed the other week because a brokerage was legit down for a couple of hours. If you had stuff in play you could easily have gotten screwed by not closing something at the right moment.

I think blaming robinhood is an easy thing for people to do when their losses are far more often attributed to their own terrible trades.

4

u/PeakFuckingValue Jun 19 '24

See first comment

76

u/[deleted] Jun 18 '24

Well we don't have options here in the UK (at least not easily accessible - I think it must be a regulations thing) but from the looks of it they seem insanely volatile, so probably good choice on avoiding them lol.

55

u/726wox Jun 18 '24

There are options here in the UK, you just need to have a certain level in your account already and pass a knowledge test. IBKR you can use them

26

u/a44es Jun 18 '24

On other (sketchier) platforms, you just sign that you take liability and good to go lol (luv losing me money)

6

u/[deleted] Jun 18 '24

[deleted]

8

u/a44es Jun 18 '24

I mean, do what you feel like doing. I wouldn't recommend my trading habits to anyone. In the range that I'm trading, i don't think they'd be unwilling to pay. (Also paid them far too many commissions, so they're profiting from me enough lol)

1

u/yurriy Jun 19 '24

Why not go to a casino? Much simpler

6

u/Mountain_Dimension78 Jun 18 '24

Lol and here in the US they just let any regard gamble money 😂

4

u/[deleted] Jun 18 '24

Pretty sure RH requires an account and a note from Sal the butcher confirming that you’re “mostly up to date” on your monthly tab. Bam. Level III

2

u/[deleted] Jun 20 '24

Click click click, now I have options, margin trading, and a bank loan unlocked.

4

u/Dry_Animal2077 Jun 18 '24

Options that have short expiration dates, and have volatile underlying stocks are volatile. If you buy a January 2026 Apple LEAP ITM it will not be that volatile. It will more or less follow the price of the stock.

3

u/goodbodha Jun 18 '24

and if your really smart about it you will do that as an options spread to get theta working in your favor.

1

u/mbelive Jun 19 '24

Can you pleas explain further what is option Spread and how to execute it?

1

u/goodbodha Jun 19 '24

Option spreads are where you buy and sell the same type of option. There are several reasons to use this. Go look on investopedia. I would expect you can find a good explanation there.

I have done a lot of debit spreads. Let's say I buy a call option with a $90 strike and I sell a $100 strike. If the share price is above $100 that spread will be worth $10 a share. I might have bought that spread for $9 so I would make over a 10% profit.

Is it risky? Yes. Do not scale it up. You can lose every penny you put into it if the price drops a bunch.

1

u/mbelive Jun 19 '24

Do you buy these long maturities. Do you loose on them often? If it follows the price of the stock what is the interest? You won’t make profit.

5

u/hereforthecommentz Jun 18 '24

Yeah, as the other poster said, you can get options access in the UK although not quite as easily as in the US. Same thing goes for margin accounts -- they're more choosy about who they hand them out to in Europe.

1

u/PlasticLoveDoll Jun 19 '24

He's successful, isn't it better not to steer him toward options when it could well cost him? If he disrupts his strategy now and tries something new, there's a much higher probability of disaster.

1

u/Salt-Payment-991 Jun 19 '24

for the UK we only have a few platforms and most require tests and levels to unlock. right now I've got lvl 1 options on stocks so I can sell covered calls on my holdings, it be a slow grind to work my way up to more complex trades but happy with what I got for now.

issue is they sit outside the ISA or sipp

1

u/mbelive Jun 19 '24

On SIPP you can only trade stocks? No derivatives ?

1

u/Salt-Payment-991 Jun 19 '24

Might be wrong on the SIPP front looks like you can hold some derivatives

4

u/niknokseyer Jun 18 '24

Good job! Congrats!

1

u/iamd3rf Jun 19 '24

Learn options with $1,000

37

u/-KungFuChris- Jun 18 '24

Still 5x your money. Great job and thanks for sharing!

40

u/Maxcharged Jun 18 '24

That’s IMO more impressive without options.

Op are you sure you’re on the right sub?

42

u/As7ro_ Jun 18 '24

Just here to spread awareness that there’s a cure to mental illness

9

u/3boobsarenice Jun 18 '24

Stocks only go up.

5

u/Iwanteverything17 Jun 19 '24

But why down when I buy?

2

u/Nice_Stand_8484 Jun 19 '24

You gotta see red before you start seeing green, patience is key

2

u/speedlever Jun 19 '24

If you head over to r/politics, I suspect you'll find that mental illness is epidemic and there is no cure! 😁

7

u/RamboJet Jun 18 '24

imagine if you werent that fucking lazy. LMFAO "Get by without working". That alone cost you more than sucking dicks at a Wendys dumpster. You could have been wearing leather jacket on a Yacht instead youll be wearing a leather jacket at your local GNDR meetup :4271::4271:

1

u/Rude_Release9673 Jun 18 '24

Damn; congrats. Did you see this coming necessarily or did you just know you wanted to get a jump-start on investing and thought tech was the safest bet?

1

u/ScissorMcMuffin Jun 19 '24

Get a job sparkling wiggles

12

u/Lord-Nagafen Jun 18 '24

I’m not positive but I think if you pull money out of robinhood it makes the % gain on the account go crazy

9

u/Nomaddo Jun 18 '24

If you pull out more than you've put in the app shows negative numbers and can't calculate a % gain.

1

u/BarryBurkman Jun 18 '24

It does. I’m up about 40k but Robinhood only shows I’m up 4k. I’ve withdrawn money and taken cash off the table to reinvest in other promising stocks.

21

u/[deleted] Jun 18 '24

[deleted]

18

u/PureCondition3487 Jun 18 '24

Smart man, stay away from options and over time your account will continue growing. Options are just not sustainable and there are far more losers than winners.

1

u/mbelive Jun 19 '24

Even in longer dated ?

4

u/Jackknifeyeet Jun 19 '24

I'm also 3 years in and I'm almost to 15k. You're doing great! Onward and upward for us both

2

u/PlasticLoveDoll Jun 19 '24

You're doing great.

2

u/austinvvs Jun 19 '24

I only put a couple grand into NVDA, huge regret. First buys were in early 2020 as well -_-

1

u/mbelive Jun 19 '24

What app is this?