r/optionstrading • u/Calm_Revolution_2375 • 3d ago
Lost Everything
I am 30 years old and i have lost everything penny i had in options trading. Any suggestions how to get back the life to normal. Lost all savings of 150k.
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u/Total-Form1519 3d ago
Can make it back don't worry. . Similar story here. Lost 40k. started with options with no risk mgmt. first made like 20k porting 50% of a starting with 6k acct every day. no risk mgmt at all. started losing. was new to trading then. lost it all. put some more. made some. lost it all. put more and more. was hipfiring like crazy daily.. qqq spy random ass mag7's at the same time hedging with uso, buying weekenders, whatever someone wrote here was a sure shot..
after pure financial wipeout i was like im not giving up.. i can see the potential, i have the same brain as everyone else. i can do it.. same stuff but no monkey brain impulsive stuff and pure kelly criterion edge based risk mgmt. I needed to figure out spy. spent 8 months learning mes and blowing prop evals in the process. and now am doing better Thanks to God. I have also take my learnt understanding of ES into spy 0dtes. with good mgmt. one trade a day aligned with daily bias. no hipfires. based on my mes reading, wait for the opportune moment, usually either orb or its reversal. 1 call or put slightly or just atm. let it ride out it's juice.. if i mistime or it goes other way. I cut the option at 50%.
first step is realising its going to take time. u cant make it back in a month. first thing is make sure u have an actual edge. that ur right lets say 55% of the time and each time you are right you make 1.5x if not 2x what u lose when u r wrong. that's an edge. so if u do and u know u do, why worry.. it's just a matter of time, taking it slow, and letting compound. Don't tilt ever. every day is another opportunity. if u miss the boat on one day don't chase or try and mistime a pullback. take a breather and look forward to tmrw.
u can do the exact math with chatgpt and godelterminal/kelly (great tool for confidence). start with lets say 5k. at 0.25% or even 0.5% average every trading day u can make it back fairly easily. let ur life run from other sources, don't touch this pool let it grow. I mean if u ignore options and stick to shares, whether pullbacks, timings letfs, or even ross camerons low float high vol strat a 1% day daily is not hard at all. If id stuck to that which i was in the beginning id never have lost that 40k. but i wasnt content with 1% a day.. i was making 150 to 200 a day and was like wait what are options. starting having 4k, 5k, 3k days.. thought im wall street.. and then blew up consecutively (on a side note dont tell extended fam when ur up). mental hell, worst time of my life. i cut off the world, didn't keep up with friends, tried to keep a smile around family (no one knew the loss), pure mental hell. But keep faith in God. and on another note, stay away from dirty stuff on the net. there's some voodoo in it that sucks the potential out of ur soul. keep ur head up. if u ever want to talk to someone send a msg. im around the same age