/biz/ - Business & Finance

>>18786258
process over results

never put in more than you can afford to lose

Technically I can afford to lose my savings but the thing is I dont want to lose my savings.

>>18786282
This. It's respectable gambling, got to be prepared to see it go to zero and take it on the chin.

>>18786297
Yeh, well life isn't fair sometimes.

>>18786258
You're not made for this. Seeing that money on the line should get your dick hard. Degenerates only in trading.

>>18786258
Confidence. You're unsure of what you're doing, don't believe in your edge or you're trading with too large of an amount

>>18786258
as humans we learn to adaptive to any new environment, and eventually you will become numb to the feeling of losing thousands, as well as gaining thousands.

>>18786258
I fap like a madman 15 minutes after a heartattack day in the market finally ends.
Only thing for it, really.

>>18786258
there are other ways to make a lot of money if that is your goal

>>18786258
I remember as a kid brokers dropped dead from heart attacks at a much higher rate than the general population, no idea if that still holds true. Either way, you act as if there's some mystical secret, but the reality is some people can handle stress better than others, the latter are called pussies, it sounds like you're one.

>>18786414
Like what

Trade with a longer time horizon so you can go days without checking price movements. Limit your losses with stops so you know the maximum amount you can lose on a trade, and balance it with your return average. Overcoming your psychology is the hardest thing to do in trading. Put your orders in at the end of the day so you aren't wasting time looking at the pips.

I have been down 70%+ of my initial investment and held until recovery. Once you do that you feel nothing at drops of 5%, 10%, or 20%. I think doing that has made me a more emotionless trader and to also realize that you should have an idea of what price you want to get out at for a profit or you are willing to accept at a lose. It also helps to never put in money that you would need for immediate expenses.

I look at it like losing money on bullshit I would've otherwise spent it on anyways. I never stake all of my money actively trading.

>>18786437

>>18786258
some people just aren't cut out for trading. my advice is to exit the market immediately. you could make some e-girls very happy with that money

Im just holding onto one stock and im not budging till i make money. The market is a rigged carnie game so being stuck in the hole with one stock is pretty comfy when youre not waking up every day to make sure you didnt get fucked.
(Heres a hint: its SQQQ)

I got pump n dumped several times with AMD before the Big Red and it made me realize panicking is very expensive.

Care, but dont care

>>18786513
Thanks for the advice. Ill also have to stop putting all my eggs in one basket. Right now starbucks is fucking me

>>18786621
Its all about time in the market. Never use leverage above x3. If you need to use more leverage then you don't have enough to trade with. Impossible to be liquidated so you can just go AFK and have some sell orders at 5% 10% 15% etc increase. Most people try making tons of profitable trades a day and it turns into an addiction that always ends in disaster. Patience and think "I could lose everything if I take any more risk" instead of "damn only did x3 leverage if I did x20 I would have made so much!"

>>18786531
Same

I turned $2k into $40k and watched it go all the way down to $2k again after 2018. I'm pretty sure it turned me into a sociopath. I find it hard to feel sorry for anyone going through anything.

The only thing I feel any love for is my dog. The rest of the universe can just fuck off.

>>18786731
Couldn't agree more especially with the patience part. Its happened a couple of times where I wanted to wait until the end of the day to make my move but I didnt and it fucked me like today. Im gonna force myself now on when I can escape SBUX,. Only good thing is I could be stock holding a worse stock than SBUX

>>18786258
dump your money into options, lose it all, then youll feel nothing watching your money drop in normal stocks

>>18786531
>>18786742
Turned $3,500 into half a mil in paper gains, cashed out about $20,000 ... watched the rest go back down to about $40,000.

Once you watch your portfolio swing positive then negative tens of thousands or hundreds of thousands of dollars in a matter of minutes a few times you tend to get numbed to the stress of trading. The first time my portfolio swung -$30,000 in a matter of hours I felt physically sick... now I just don't give a shit.

>>18786985
What did you invest in?

>>18786258
your confidence/stress is a function of the risk of the trade and the amount you are trading with. if you're too stressed then this means that you are betting too much money. just play smaller, you're not missing out on anything.

>>18786258
Index investing on a monthly schedule. Made me rich and I didn't have to worry about trading.

I was doing algo trading with success before but it wasn't worth the stress.

>>18786258
I buy and hold and I make sure to buy as soon as I get paid. Having cash in my trading account stresses me out and I’m not cut out for trading.

If trading has a detrimental effect on your mental health, you either need to stop doing it or work on getting to a place where you can do it without stressing.

>>18787191
When you get paid just buy bitcoin regardless of the price and put it in a private wallet. No trading needed, that is the magic of DCA investing

>>18786258
stop caring just throw extra money in

>>18787191
>>18787137
>>18787102
Thanks for the advise everyone. I should either lower the amount im willing to risk (right now im risking all my savings which is about 30k) or I need to diversify (Ive been going all in like a fool) into safe stocks that will probably never cause me to lose everything

>>18787342
I strongly recommend buying 1 bitcoin now and putting it in a private wallet. Ignore stocks and let your $$ savings grow so you can pick up both bitcoin and stocks when they crash.

>>18787446
Dude stocks are driving me nuts. Coins which hold no real value will drive me even nuttier

>>18787481
Well I think of it like this. If I had 30,000 saved right now I would bet $8800 (current price of btc) that bitcoin will go above 50k at some point. I also wouldn't touch the stock market right now because of coronavirus, but if I had to I would invest in stuff like AMD/intel/nvidia, all stuff that I could sleep on and randomly sell one year for a huge profit. The biggest thing is time in the market, your goal is to sell for more than you bought. Too many people get caught up in making more than what others are claiming to make.

>>18786258
wagie wagie bring me food
driving you will surely do
hurry up now you're almost here
don't make me wait and don't be late
Otherwise your tip disappearing will be your fate

>>18786258
It's stressful because you're poor. You have to learn to deal with it. Experience can harden you, but the feeling never goes away completely.

>>18787619
Rich or poor, if your mental health correlates to how well your portfolio is doing then you are just overinvested and need to lower your risk

>>18786258

Cocaine and lots of masturbation.

>>18786258
>put $100 dollars into Robinhood suicide stack
>make 350
>pull out 100
>suicide stack to 2.6k
At this point it’s like a game, if I lose everything I will really have lost nothing that I didn’t already not have before.

>>18786282
yeah except if it is your 401k getting killed.
or if you have savings. you need to invest them. which is fundamentally risky. or sit on cash and lose due to inflation.

Trading should be BORING, if it's something thrilling for you, you are definitely putting way more money than you should have been.

>>18787843
At least take 50% of the profits for yourself to fuck around with

>>18786258
Just invest reasonable sums and dca

>>18787588
I remember owning AMD for 16 bucks, sold for a tiny ass profit because that stock is always swinging around like crazy. If only I knew, too afraid to touch it now because of said swings I could lose 20% in a single day

>>18787762
but thats the whole point of making money. why would i want to invest 5% of my savings. safe but pointless.

>>18786329
kek

>>18786258
Don't trade, just buy and hodl and get on with your life.

"trading" is a meme and leads to total emotional/psych breakdowns

>>18786258
you should be trading with EXTRA MONEY

if you dont have this then dont trade and put it in an IRA instead

Or put another way, I would rather invest 100% in a safe index long term (maybe not now) than put 5% into a risky trade.

>>18787906
I use 25% of my savings as my standard. I still make a good amount of profit because Im not emotionally invested. I have zero attachment to my investment so I am always buying and selling at great times. If you use more than half of your savings then you either don't have much savings to begin with or you are gambling.

>>18787906
I feel like the reason people say that is because the people who say it have savings where 5% is literally millions or hundreds of thousands. Its tough to make good money with only a few grand unless you all in on options which is gambling not investing

>>18787936
I want to enjoy my money now not when im 70

>>18787947
So you invest what you can afford to lose?
What happens if you do lose that 25%? Will invest another 25%?

>>18787994
you can do both. I make 4k a month. Bills are 2k.

$400 a month in an IRA and 1600 on anything i want (i also sports bet when there are sports but these past 2 months its all gone to the market)

>>18787998
I am only invested in bitcoin and have been for years. I started in 2014, I DCA when the price is below 10,000 and have my sell orders at 15k 16k 17k etc. I only use bitcoin and USD, I still keep 75% of my funds as USD. I don't bother with stocks because I don't need any more income unless it is risk free. Risk management is huge. Holding while btc crabs for months and selling for a profit is how it should be done but most people are way too impatient and will either panic sell if it drops (when they should be buying the dips) or getting rekt because they tried using leverage. If my bitcoins magically disappeared I would still have 75% of my portfolio. I don't have any losses because all I do is hold, buy dips, and sell above 10k.

>>18786258
cold showers, running and 30min meditations (at least, 60min is way better but 30 works too)

also experience

and most important, regulated trading system and solid risk management

>>18786329
Based

>>18786258
just play a lot of low stakes poker until you are desensitized to losses and bad beats. worked for me

>>18788181
Sounds unhealthy, training yourself to not care about loss. Fear is needed otherwise all you have is greed and zero risk management.

>>18788391
fear has nothing to do with risk-management. risk-mgmt is logic-based, not emotion-based

>>18786282
this. if you invest too much, or more than you are comfortable with, you will act emotionally, if you act emotionally you will act stupidly, if you act stupidly, you will lose money