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Stock market addiction

arc
May 08, 20 at 9:21pm

So I find myself in a situation where I am starting to get obsessed with the stock market again. This is partly because of the whole Covid 19 stock market crash I decided to get back into it. I made a couple hundred bucks buying stocks in the past two months. My dad even got into stocks for the first time and now he is hardcore addicted to it. I used to only talk to him for about 15 minutes a month and now he calls me every single day talking about it for hours, lol

I like to find patterns in things so stock trading comes as a natural hobby to me. Even on my cash account today I made 100 bucks selling one option and realize how easy it is to get sucked into the stock market.

Anybody else suffering from stock market addiction?

Anybody else addicted to trading stocks?

futago
May 08, 20 at 9:50pm

I got addicted to Crypto currency which is different from the stock market but the same trading concept. I started way back 2016 and probably made more than 100 bucks a day. Just like yourself, I tried to study patterns and technical analysis with the graphs. But I lain low for almost 3 years now since the market crashed in 2017 - 2018 and it seems it might take a few years for the market to recover. Worst experience is I once lost around $2000 on a trade.

arc
May 08, 20 at 10:55pm

@futago

oh yeah, I have been always afraid of losing that much money at once. I'm a small timer and usually only bet 300 or so bucks on a single option. I can tell you though, you have been missing out on crypto if you haven't been trading it recently. I don't trade it, but I heard it made some crazy jump this week

reisenpai66
May 08, 20 at 10:58pm

I check my stocks every day
was feeling pretty leet today lol

arc
May 08, 20 at 11:06pm

@reisenpai66

holy crap dude, nice. I totally would have bought tesla calls today if I could afford the premium

reisenpai66
May 08, 20 at 11:08pm

yea, my average is around 500 for bought, which i wish i bought sooner but eh.. its quite the roller coaster, thats for sure.. its my biggest position tho, profit wise.. my crude oil has been in the green since i got it tho so i bought the dip there.. i have 40 shares in carnival cruise too.. they pay dividends too which is nice.. i expect that to go up.. gonna be fun seeing where this shit goes whenever the virus goes away

arc
May 08, 20 at 11:13pm

@reisenpai66

Yeah, I have CCL too. Kinda got screwed buying CCL on the sell the news event at 16.00 but I'm sure I'll make it back when it recovers. I'm up at around 100% on DVN energy stock and 20% on XOM which are my best long holds. I've always been afraid to buy tesla because it gets manipulated so hard by day traders. So easy to blow up your account trading tesla. I might get into TSLA options once I grow my account more. On paper I would have made bank, but 4k is a lot to risk in one option contract XD

reisenpai66
May 08, 20 at 11:17pm

All my positions are gonna be held for at least a year but tesla especially since i see it going places. but yea, the stock is wild.. even after elon said the stock was over priced and hes selling all his shit, it only crashed for a day or so and went back up to all time highs lol. Ive been following the company close enough since i plan on buying one eventually.

arc
May 08, 20 at 11:21pm

@reisenpai66

My biggest failure was selling TSLA for 250 thinking I would come back and buy it later, then I lost a huge option play in SPY and got pissed and quit the stock market for two years without trading. Hindsight 50/50. IMO my gut tells me torwards the end of May we get a good enough crash that I can go long on tesla again but only the future will tell. Only good news has been pouring out for it lately

reisenpai66
May 08, 20 at 11:24pm

Day trading is basically gambling.. my rule of thumb is never sell and always buy on red days. If you hold for at least a year +1 day then if you sell, you wont be taxed on it like standard income tax, it get treated as long term capital gains, so its a lower tax.

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