Past 4-5 months me and my father we’re getting into day trading due to COVID giving many people opportunities to purchase shares at a discount and make good money as a result. We’ve started small (like about $100) now we’re trading at least like $1000 per stock while making some decent money here and there. We mostly conducted our research before investing (Carefully a***yzing the stock itself, watching multiple YouTube videos) and were in a healthy position. We ramped up our balance too, starting out with 3k but my father transferred his money over and took a loan out on top, totaling well over 50k as the amount to invest.

Like a month or two later, we were watching the stock NAT as it was moving up consistently Day by day bases, gained hype by multiple Youtubers too and sounded promising due to the oil situation (This was back in April/May). At some point, my father put about $42,000 into the stock itself and it went up, but start going down and down, eventually plummeting into oblivion. This resulted into painful $18,000 loss, along with other bags he had which failed to go up and totaled into $25,000 loss at some point.

F*** man I’m starting to get stressed out as my fathers has been acting upset for the past week and the stock’s earning will be out by tomorrow morning. I pray it’ll go up, and not plummet again.

I know everyone will make fun of him for being a “dumbass” and not trading well, but I feel very bad about the situation and taught me a lot. Our bags have been a result of us not timing the trades well, FOMO, and just buying additional shares to DCA it.

This is something that I wanted to get off my chest, I HOPE it’ll go up tomorrow f*** man

If only you knew how bad things really are

Wym

Read up to “day-trading”

Day trading is almost always a bad idea and is incredibly risky with those junk stocks. Please don’t trust these random youtubers promising you how to make quick money

one the worst thing you can do in the field of stocks is not having a diverse enough portfolio. Your portfolio should have balance as in if one stock declines the others with be able to keep up the dead weight so you don't completely go broke. Don't put all your eggs in one basket.

Also don't pull out your money. (unless the given nature of whatever business it is is going under or failing badly) Whatever you do. It will climb eventually. It's the nature of stocks. You're giving yourself losses by not sticking it out.

Of course this is just my advice on how to handle something like this, up to you to make your own decisions. I'm just giving you advice that people who mentored me passed on. Good luck bro

damn I wish my family had that kind of money just to throw into investing
anyways what do you mean by "bags"?

oh wait I just re read and saw that you guys were getting into those youtube stocks lmaooo yeaaa thats murky water tough luck

disappointed @Puma didn’t post this

50k loan

cmon bro

This reads even worse because he took out a whole loan for this. 50k

You know the market hasn’t even stabilized, current market trends are temporary

OP really said

Simpson’s have something for every situation

Niggas lie everyday b. In your dreams your dad got a 50k loan cash.

my CERB money is in vfv vun zqq mgm bmo td tec

Bro you guys took a LOAN out to day-trade? Yeah, it’s over for OP.

your head hit the keyboard?

No stop losses? Lmao