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drcode | 3 months ago

Yeah, my rule when I got started was "If I ever lose a lifetime aggregated $3000 in the markets, then the markets are not for me". Then once you're ahead in the markets, it's fine to continue trading.

(Note: I ended up breaking my rule by continuing to trade after losing $5000, but then did great in the markets anyway in the long run LOL)

discuss

DaveZale|3 months ago

I made the mistake of gambling on 3x gas and oil futures once. Problem was, I got lucky a couple of times. They got all my money back and then some eventually. Gains based on luck can be toxic! Unless it's a well thought out statistical approach, maybe- but that would be a full time job.

is_true|3 months ago

Most of us lose more than that to inflation

DaveZale|3 months ago

also if the losses are in a non-IRA, they are (or were? talk to your cpa) tax deductible against other gains. But is it all worth even one lost night of sleep. Nah.... of course, there are ways of covering bets with options but that is professional level stuff.