/biz/ - Business & Finance

>>8490140

>Be 60k in debt
>Take out personal loan, max all credit cards, use money (~80k) to gamble on trump winning the election
>Win
>mfw 330k tax free

It's wasn't on a whim though, I followed the election for months like a job, and had I known what I know about finance now then, I would have shorted the peso with like 200x leverage & made several mil off the same capital.

>>5421956

Borrowing money worked out well this anon, guy borrowed 80k and bet it on Trump winning the US election of all things.

The key to borrowing money to bet / speculate, is to NOT BE FUCKING WRONG. Get your batting average up as high as you can.

>>2215376

I'm in a similar position OP, 6 months ago I was 60k in debt, then I made a quarter mil in 10 days, tax free, gambling on the US election using nothing but debt (thank you poor lending standards in Aus!). I had 60k less than zero dollars, and now I've got ~230k in stocks, and no bad debt. Since then I've made another 15k day trading stocks before I switched my strategy to long term holds on spec stocks so I can minimize my CGT. Main regret is missing crypto, could have easily 3x'd my money again, even more with leverage. At least I'm 14% up on paper on my spec stock play (~30k), still hurts though.

What's fucking surreal is now I stress more about money, not less. Opportunity cost keeps me up at night, knowing fuck, I could have done x instead and made y.

As for what to do? Keep going. You've already done the hard work, you've trained yourself to notice opportunities, exploit opportunities, and make phat stacks. First million is the hardest and you're already 1/3 of the way there. If you think crypto is going to go bear market for a while, learn stocks, learn commodities, learn fx, crypto isn't the skill, the skill is seeing opportunities to profit and exploiting them. One of the big regrets I also have is had I known more about FX trading, I could have 250x leveraged a short on the peso, and made a few mil with that 80k of credit. There's always more to learn, always higher levels to play the game at.

I know for me it's not about the money, but the freedom the money will provide. I won't have to work a job to pay the bills, I won't have to get up and go somewhere and do shit I don't want to do, I'll be able to go do whatever, whenever, get bored then do something else.

You need to decide what you want and work back from there, I know for me I wanted to get a R35 GTR, but then I did the math on opportunity cost, and was like, well, I'd rather have the debt I can get available to exploit the next huge asymmetrical opportunity.

Remember this guy? You could be like him only on a much smaller scale OP!

>>1807660

>Spent 20's working a job I hated (retail) out of high school
>Had awesome grades despite my hardcore wow addiction, moved out of home at 18 due to family issues (absent father / alcoholic schizophrenic mother), so had to work to survive. Then when I was 19 work was like hey, want a 65k aud a year job (10 years ago), which was more than I would make in any grad job at the time
>Spend my youth earning great money but being miserable, and not dealing with my unresolved emotional shit, instead partying all the time, end up in a 70k debt hole thanks to drugs, loaning money to people who never repaid it, a failed business and living beyond my means
>End up moving into a shitty share house with strangers at 28, want to kms hardcore, refinance my debt and start learning about money
>Within 3 months knock 10k off my debt living like a shut in (work, gym, food, that's it)
>Realize it's going to take 18 months of living like this, decide fuck that
>Somehow end up following the election, look at the odds, realize Trump is likely to win
>Decide I want to be out of debt, and buy a R35 GTR (about 100k used here in aus)
>Borrow 80k, slap it down on Trump (at 4 - 1 / 4.5 - 1 odds), clear a 250k profit 10 days later, tax free too, wipe my debt, 190k in the bank
>mfw you realize dave ramsay is a cuck, and the solution to debt is actually more debt
>Start trading shares using the same analysis methods I used to follow the election, first month made 13k, could have made 24k had I used TA to time my trade exits better (I have no issue finding opportunity, I just need to develop the financial literacy to better exploit them)
>Made 4k today on my first derivatives trade (Fuck yeah VOC awesome results and shorter's getting fucked

The question now is, do I quit my job? I fucking hate it, but the idea of just trading and 'figuring it out' scares me a bit, (even though I have 17k cleared cash money, another 4k on paper, as proof that I can do this shit). What do?

>>1789952

Not lying bro, I may have lied to a bank on a credit application though haha.

Won 250k on the US election, lost $500 on the Austrian election. So good year overall :P.

>>1610333

This is great advice. Look at this anon, made a killing betting on Trump, and he had no money, he was 60k in debt, borrowed money, and cleared 250k. It looks like overnight success but he ran up debt loaning it to people and from having a failed business, so this shit isn't overnight, it takes time and you can make it.

This bet, risking 18k to get 2k, makes no sense. Not to mention, if you were going to bet 18k, why weren't you following the election like a hawk? Going on Pol, the donald, /r/politics, watching the news, etc, getting a real feel for what was happening.

You win or you learn. This time you learn, next time you win...hopefully :P.

>>1608686

There's the winnings bro, shit feels good. Real fucking good haha. Now I need to lurk biz and find out how to grow the fuck out of this.