Assets 20k Stocks 5k crypto after the JUSTening 4k in home equity
Liabilities 20k cc debt 15k personal loans 40k student loans (deferment expired, will have to make payments soon)
Cash flows $200.00 meager monthly income from shitty drop shipping biz $1,700 in minimum monthly expenses for food and shelter, cc payments
Bleeding at -$1,500 per month
Live in the middle on nowhere, there are no jobs. Can't afford to move. Plan was to use trading income to pay back debt (was doing very well for 3 months in a row shorting. But went long and got absolutely wrecked by not paying attention)
What would you do in this situation? inb4 suck some cocks. No one even has money to pay for this even if I wanted to.
Why the fuck are you in stocks with credit card debt. Can stock get better than 20%?
Easton Allen
No those positions I've had for a long time.
Debt is from living expenses and inventory for said resale biz. And also for crypto mining hardware.
John Campbell
1. Dump your shitcoins before you lose the rest you college memer 2. Move to the middle of somewhere so you can get a job, preferably with your degree, but let's not kid ourselves here 3. Reduce your expenses 4. Succ
Of course in reality you aren't going to do any of this, you're just going to sit around and accumulate more debt and look for more easy ways out, because that's all that 90%+ of our generation is capable of
Yup, you're right. I'm a degenerate gambler at heart. Let's see if I can dig myself out of this mess. This time I will not be using a "mental" stop loss. But a real stop loss.
My trade cycle is this: 1. make good, carefully planned, modest trades. 2. get cocky and over-extend 3. learn lesson and become a better trader, 4. slowly make back losses 5. hopefully stop repeating this process
Maybe you just aren't smart enough to trade, and I don't mean that to be insulting at all. I am telling you this because someone with higher intelligence would know better than to try to teach themselves how to trade during what in the best case scenario is a bloodbath bear market and in the worst is a burst bubble and the end of crypto. If you want to teach yourself how to trade, wait for another bull run, if there ever is another in crypto. At least if it's a bull run, you can just wait a few weeks to recoup your losses instead of continuing to catch falling knives and fuck yourself over some more. The fact that you are not only trading in a terrible bear market, but doing so with leverage... suggests to me that you are not intelligent enough for this job. And it's not something you need to be ashamed of either, most people just aren't intelligent enough for it. If they were, everyone would get rich trading options.
Otherwise, purdy up them gums with Kool-Aid and get ready for succ, lmao.
I would agree with you but I was literally a few days from closing out all my positions before the big bear.
I expected it, I literally marked on my calendar to exit all crypto positions by the end of the month... I just didn't think it would start mid November.
That paired with no stop loss and being afk for a while. That's why I think it's negligence and not an iq thing.
Zachary Flores
your stack is way too tiny to make it. get a job or get liquidated by living expenses
Grayson Moore
I think this is the chart you need to study, fren.
