NotARedditUser3 t1_j2aih3f wrote on December 30, 2022 at 8:48 PM

M8, don't dabble in that stuff at your age. Put together a ledger of things you WOULD have gambled on, and when you would have got out, over 6 months or so.... Develop a lot of strategy before you get in because you may actually need that money at some point.

Maybe invest in some stocks if you see some opportunities (something hits 52 week low / all time low, sure grab a few shares and go long), but I garuntee you don't have the heart and the diamond hands to see your balance down 60%+ and keep waiting for it to reach expiry where it'll actually be profitable.

If you do go forward - SET YOUR POSITIONS AND DON'T LOOK AT THEM UNTIL THE TIME IS DONE. You'll kill yourself watching the balances day by day fretting over whether you've made money or not.

I live off of my options returns and I set them up for month long expirations, set them up and then ignore them until it's time, so I don't stress.

[deleted] OP t1_j2aiwzi wrote on December 30, 2022 at 8:51 PM

[deleted]

NotARedditUser3 t1_j2ajer2 wrote on December 30, 2022 at 8:54 PM

There is nothing fun about stocks or options.

If it's becoming 'fun' or is being presented as such, you need to seek help for gambling addiction before you lose 60k/400k you don't even have and go bankrupt.

There is only subtle pride at a job well done when diamond-handing your way to better-than-market returns.

But in the end, all odds are stacked against you. The stock market is no joke and you should NOT be in it for funsies.