Finally sold the AMD I bought last June. The SOXL is a daytrade, playing a bounce off early capitulation selling.
Long story short, I think the market has genuinely cracked under the macro pressure. Not going to open any equity longs for a while.
To the mods - happy to verify the P&L via video or brokerage statements. Also would humbly request a dark blue flair with one word - Wizard. That would mean a lot to me.
Finally, be grateful for whatever the market gives you - whether that be money or a lesson in mental discipline. I've been given plenty of both.
Costs no dignity either lol. Why would asking for something cost dignity? I don't get it.
On a tangent - a lot of great things in life are available if you ask. I still ask people smarter than me when I want something. Usually knowledge or advice. In an increasingly disconnected world, it remains one of the best ways to connect with fellow humans.
You call your wife to bail you out, she leaves and takes the kids, drains the joint bank account. You get transferred to prison to await trial but somebody fucked up the paperwork and you're stuck in the maximum security wing with murderers and rapists.
What you want to do is blast out an email promising a monetary reward with obvious misspellings - you want the dumbest, greediest creature out there to take the bait. Pretty easy from there. Hope that helps.
Time to retire....from trading, just let it grow in a safe place. I mean even at 5% per year, you have a tidy sum for the rest of you're life. 'When a cup floats in water its safe, when it over fills it sinks'. Excellent trading there💯👍
when you just suddenly have 17 million I think you quickly realize nothing matters anymore, especially when you've spent your whole life just trying to get by.
I think of people I have met who can't work in a kitchen without a radio on. The thoughts in their own head... they can't live with them. I can't imagine what it would be like to be that kind of person and just realize that you've "got it all" but don't feel any better. No amount of buying things makes you feel better, and then all of a sudden it's just all gone.
It's easy to spend 17 million. That's a down payment on some houses.
I got lucky enough to get hired as a software engineer ages ago when they were hiring anyone who had an interest. I literally had to teach one of my coworkers how to use a variable at my first job.
Saved up over a career, invested reasonably well, got smacked around in 2022 and traded tech on leverage from there.
I'm going to chill out for a while, largely because I don't trust this market. Will reenter longs at the bottom of the next bear market, whenever that is.
Make sure you don’t slip up with any lifestyle creep, before you know it you’ve got a Ferrari, a nice property on each coast, and only $10million left to your name
Probably before then, when the market realizes that political winds are changing that creates uncertainty. This midterm could be a catalyst, which IMO is why were seeing this.
Nobody has a crystal ball. This guy had a really good job and traded on leverage. It's easier to throw money at risk when you have an established safety net. Combine that with luck and timing, and you get OP
buy 30 years of US govt bond and he'll earn around a million dollar the rest of his life. He'll also has the raw power to catch any bear market doomsday that he predicted.
Do you know how many Americans earn a million a year ? Sometimes redditors seem thry lost of their reality.
It's not really about the money per se. I do enjoy trading and expressing an opinion about the market with a bet. I could scale down, for sure. I might be off margin for good.
I love the art of trading, it's a part of who I am. It's not as much about the absolute dollars but expressing an opinion about the market and getting a fat % return if you're right.
You're a very smart gambler who got very lucky, not a true equities trader. Neither banks nor hedge funds nor any other billion-dollar trading institution can reliably time the market, and you're certainly not them.
To believe otherwise is to trend toward maximizing the probability of losing as much of your newfound generational wealth opportunity as possible, to say nothing of the likely multi-million dollar opportunity cost of failing to stay invested in a diversified basket of securities over the long run.
Source: None, this is a random opinion on the internet, not personal financial advice, and I am not familiar with you or your situation. If you want advice, hire a professional.
At $16m just put it in bonds and enjoy your $600k+ annual salary until you die. Would honestly probably just split it 50/50 bonds S&P500 and let the stock ride while I enjoy a decent raise on my annual income from the bonds.
VTEB or VTES instead of money market fund and you won’t have to pay federal income tax on the interest. Might save you 200-300k per year in federal income tax. Congrats btw
I envy you guys so much. I just started my career as an infrastructure engineer right out of uni and I had to know cloud computing, Linux, k8s, software engineering, systems design, CI/CD, observability and networking(some more in depth than others) and a couple of days ago someone said that "when I started at AWS as a SWE intern, I didn't know what ACID was). Mf what?
Yeah it sucks out there. I speak to a lot of younger software engineers through the LeetCode community and a lot of these guys with rock solid resumes that would land them a killer job 5 years ago are getting no calls back. I'm sorry man.
I've got almost 30 years in the field as an infrastructure engineer and I'm getting ghosted / rejected from standard infrastructure jobs. The market is fucking hard right now.
I got a killer 16 year history and I can’t find any leads. I don’t want to say I’ll hang myself on a power cable but you know what? Ima loose my house in a few years and then I’ll have to off myself.
Fuck yeah. But I fucked up bad. I made $160k & saved in a savings account across 4 years Senior SWE, then had a family medical emergency. “Lost” most of it on expenses and now I’m super screwed.
Can’t find any decent SWE jobs that paid like they did pre-Claude. I don’t think I’ll ever be able to make that $160K again.
My mistake is that I didn’t park it in VOO or BrkB. So fucked right now.
And a lot harder when it gives you a loss and makes you reevaluate your process and your read on the market. I've taken a lot of losses over the years.
As someone starting a business, I'd take those losses all day, you have to swing for the fences to get a home run!
I'm pretty boring with my investments, just hoping to get a good play into maybe paying off my 50k in debts, to speed up my investing. Most of my money going into my business makes it harder lol.
Yeah it's tough to split money between investments and a business that needs it. If your focus is not on the markets it can be real easy to lose track and get slammed out of nowhere. I mean I'm focused on the markets all day and it still caught me a bit off guard.
I'd probably just stick money in the business until you get a surplus and then trade with that. You can get in a lot of trouble trying to trade your way out of net debt.
I always like when these people gamble on leverage and then whey they sell they're all like: "my analysis says this is it, macro pressures, what can you do". Like at what point exactly in last couple of years did macro picture resemble any sense whatsoever?
People just need to make a few right decisions and most people will have some idea of why they made those decisions and why it made sense, even if they just got lucky.
I made some good money riding AMD up, and while I had an idea of why I entered the trade, I still just got lucky.
The macro has been deteriorating for some time. But there are a few new data points with the inflation and rate hike picture. I'm a 1-minute tape reader - the price action over the last week told me that the bigger picture issues finally cracked the market.
The market is incredibly resilient and will often overlook bad macro for very long periods of time, so it still makes sense to invest even in a bad macro environment if there's another story that has legs supported by price action, like the AI trade over the past few years.
Holy shit balls thats the rest of your life sorted and not having to worry about a damn thing financially! And if you have a family, generational wealth. Kudos
The brokerage account transferred from Schwab to IBKR in November 2021, drew down in 2022 to $1m, got to $6m pre-tariff, drew down to $3m after, and grew from there. Can take a look at some of my old posts if you'd like.
That's true, but this was the first time the price action really seemed to show signs of deterioration. I'm a 1-minute tape reader. Something about it is very, very off since Friday.
There's a LeetCode problem called Sum of Total Strength of Wizards that involves a tricky double prefix sum and has become a sort of running joke among my people. I like the idea of being a wizard.
Not one question so far about conviction or what convinced him of the trade in the first place. OP what convinced you to buy originally plus hold through the swing
I had been eyeing some beaten down tech post-tariff and didn't want to do TQQQ again after I ate a 40% drawdown off ATH. AMD was kind of hanging around, I went all in at 100 pre-earnings, backed out the next day at 96, take another shot at it on a run to 123, stopped out at 121.
And then one random day in June it puts in the cleanest green candle off the open I've ever seen out of it and buy the breakout. It never came back to my cost basis.
It had a great story with MI series chips that could take market share off NVDA and was more attractively priced for growth.
You're a gambling addict. You hit big, now go hire the best shrink money can buy and don't touch the market again. SP500 index fund will keep you in Ferraris and first class forever
3.2k
u/Weird_Expert_1999 1d ago
16 mil and my man tries to buy the one thing he couldn’t: wsb flair