Posted on 02/13/2023 2:23:36 PM PST by Fido969
I am a budding options/futures trader with my own sole proprietor investment business. Heading into 2022, I took on a large cash infusion of $500,000 from friends and family under the guise of a promise I made to issue a 10% return on their money. This promise was made via a signed promissory note, and the return was less than the annual return I had been experiencing years before.
And then 2022 happened. It was an extremely bad year for the markets, and the worst I’d seen since I had been actively trading. Needless to say, I was not able to make due on my promise
(Excerpt) Read more at marketwatch.com ...
I’ve never done that
Yes I’ve bought some stocks I thought were worth while. Never did poorly. Did ok. Never thought I was a genius at it
But then I walk away from the table with my winnings. I don’t stay and gamble more
Precisely
‘I’ve suffered for a long time’: My mother demanded I return my inheritance so she could give it to my brother, who has a drug addiction. What should I have done?
That's not a joke. That's a trading strategy.
Tell us how you REALLY feel!!!
LOL!
I bet that kid has never had an ass chewing like that before!!!
“You love the pompous use of the term to obscure the fact that he BORROWED money.”
I don’t understand why someone would make a legally binding promise like this. There is little to no upside for the broker, yet ALL the risk is his.
“I am a budding options/futures trader...”
Warning! Warning! Danger, danger, danger!
You should start your own advice column.
Actually, I always wanted to see an “Advice” section here on FR.
A friend’s business partner lost 3 million day trading and he still insists his system will work. Jackass had the nerve to hit friend up for cash as he lay in the hospital recovering from a ruptured brain aneurysm.
Hmm...he should tell his friends that he’s made them so much money he needs to take out life insurance policies on them. Get them to sign. Then hire a hit man. Problem solved.
If you diversify, there is virtually no way to lose it all. Sounds like this moron invested it all in high risk companies or derivatives.
Thanks for letting me know. Pardon me for staying as far from you as is possible.
“Do the exact opposite of Cramer.”
Yup, I bought Duke Energy when he said he was “SO DONE’ with it years back. Worked out well.
Yep!!!
I lost money in 2022 as the market was down. The good news I owe 0 tax for 2022 : )
I bought some extra AMD stock using borrowed money from the broker at the end of 2022 as the market started to go up. I have done the buying and selling 3 times so far and have made money all 3 times. So far the latest 3rd time the stock price is up so fat $8+ a share. I have not sold yet. I still have not sold my main shares just the extra ones.
The margin call would be around $35 and the lowest the stock has ever been was around $55 and the current price is $84+. So far I have made 8% in less then 2 months with the stock going up just a bit like $8 etc selling then buying back when it drops. I am guessing when to buy and sell but so far so good.
I expect the market will be going up this year heading into an election year. The politicians do not dare wreck the economy more as THEIR jobs are on the line.
;I can’t help laughing. I invested in Wall Mart about 20 years ago. At some point I stopped investing in it, but it still sends me .79 a month religiously. I usually don’t even put it in the bank. No way would I put any more money into WWorld. I even stopped shopping there. I just get a kick out it.
After a few months year, you'll be able to buy a cup of coffee
Answer to him: “You are an idiot. “
I have a friend that works with Leap Options and equities. About 65/35:
In 22 he made about 3:0 off 1:5 at risk. Took it all off the table in July.
“Never let your risk exceed your ability to cover it out of your own pocket.”. Eccl10:2
Eccl 10:2?
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