Stock Trading -or- ReconSWS's Bane

[ReconSWS]

Took my 40% loss on GME on the wrist I deserved that. I wish it would go up to 1,000 for everyone else's sake, but I don't deserve it.

Instead, I took all my trading money and put it on 104 contracts of SPXS 50c for 2/19, and 4 contracts 55c for 3/19. Broker got a nice phat $100 commission out of that.

I need to face it, once a gay bear, always a gay bear. Stock don't go up for me, when I touch them, they go down.

Market is over-due for a correction.

[Rusty Brass]

If they ever decide on a cap and cut off mining DOGE will explode. If not then it'll stay this weird game where spikes come out of nowhere and fade just as fast.

[Axel]

My current working theory is that cryptocurrencies' lack of fundamentals put DOGE at an advantage over memestonks in any timeline expect perhaps very short or very long terms. GME has got to eventually return to a valuation in line with the company's fundamentals, whereas DOGE's worth is entirely based on its acceptance (or not) as a legitimate alt coin. Merely by remaining at historically high valuations it will convince more and more crypto traders to add it to their portfolios, at least until its inflationary nature overwhelms demand, lol

[bellicose]

TIL that you can trade cryptocurrencies over night. I dropped a C-note on Doge...time to count some pennies.

[ReconSWS]

So it appears I was right about the tqqq, qqq, and spxl, literally just flat over night, would have killed IV. I'm waiting for something to happen today... like several circuit breakers on SPY, and memestonks +1000% , not a tall order at all for one day...

[Axel]

I didn't know about TFSAs and I'm really pissed off now. Closest I get is a Roth IRA where the contribution room does not accumulate and you get taken over a barrel of you want your gains out before age 59-1/2. My forebears went apeshit over a piddling 3¢ tax on tea and now we put up with this crap, smdh 😆

[ReconSWS]

@axle I trade from a TFSA so I literally don't have to do anything it's amazing. But, I've taken liberties with their limits I shouldn't have, and WILL have to file documentation unfortunately. Fuck me.

I came here to post this from the canadians seems topical to many situations.

[Axel]

How complicated is it to file taxes in Canada with all the options trading? Down here I can handle buying and selling stocks, and dividends are pretty straightforward, but I wouldn't know where to begin with options. And then I got to do it again for the state which has a whole different system and set of rules. Mercifully, my municipality does not tax investment income or I'd have to do it yet a third time

[Boddah2]

God everything I made in this rollercoaster has been lost including some of my principle. I should have stayed out after the first profits. I knew it was going to stop but thought I could get one more run at it haha


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[ReconSWS]

I'm in Canada so I use CIBC since they are the only ones negligent enough (just kidding love) to approve me. If you are in USA, use TDA.

Look at this setup bros, guess what I had as options last week that I sold for profits.

QQQ 330, QQQ 335, TQQQ 110, TQQQ 115

If I would have held those til today instead of taking my profits, I probably would have... not made much extra money due to implied volatility stupidity.

I would have been sad, and I would have sold for a 50% loss (not that I already lost that 50% doing something else).

Because the truth is, if I held til expiration tomorrow, 100% chance it would fuck me.

Look at this setup. STOCK at an ALL TIME HIGH.

STONKS, at an ALL TIME LOW (relatively).

Tomorrow is going to be explosive, like last thurs/friday.

[gabe]

tbh neither do I. Used to be a thing in the 90's apparently where you got shareholder perks. My parents used to get coupons for mcd's in the mail for being shareholders.

[RuleOfSines]

I don't remember such a time

[Axel]

Yeah, absolutely do not drop any coin you can't afford to loose outright. Expect it to go to zero and be pleasantly surprised if it doesn't. It started as a tiny fraction of a penny and it has held near the 3 cent range for coming up on a week now, but ANYTHING could happen and I can't make any prediction at all

Robinhood or a myriad of coin wallets can get you connected just Google and research. I believe Coinbase, one of the more popular apps for cryptocurrency, does NOT have DOGE

And having said all that, DOGE is popping again today. This world is insane

[bellicose]

Who do you go through for your call options? Through this whole GME thing, I am learning way more about the stock market right now than the old buy high/sell low phrase. I don't know that I'll ever use them, but it's nice to know.

[ReconSWS]

I was SO right, call premium fuckin noze dived. It's alright though, this means 0dte are very cheap now.

Added GME $420c 0dte x 4 for like 30 bucks each.

Also added 4x SPXL calls for March 19 and 4x SPXL calls for April 19, both at 50c ... insurance against GME crashing the markets.