15-01-2024, 03:48 AM
it is time in the mkt that work over time....
do not trade..call those youtube trader bluff, those trading school only interested in your fee,
if trading so well, do they need to teach??? ownself make billion...read below and wise u
[size=11]30yo SG man says he “lost $500K savings” from day trading; “really need advice”
Story by Yoko Nicole • 3h
![[Image: ArticleImageFullscreen.svg]](https://assets.msn.com/staticsb/statics/latest/views/icons/ArticleImageFullscreen.svg)
[/url]
[url=https://www.msn.com/en-sg/news/world/30yo-sg-man-says-he-lost-500k-savings-from-day-trading-really-need-advice/ar-AA1mXaL6?cvid=60147a21e0fd47e78a5046b9933c1156&ocid=winp2fptaskbar&ei=13&fullscreen=true#image=2]![[Image: AA17utaJ.img?w=768&h=443&m=6]](https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA17utaJ.img?w=768&h=443&m=6)
30yo SG man says he “lost $500K savings” from day trading; “really need advice”© The Independent Singapore
SINGAPORE: After losing almost $500,000 in day trading (buying and selling market shares), a 30-year-old man recently turned to social media to seek advice on moving on.
“Really need advice. I am feeling very sad, guilty and anxious over the lost money, and the fact that I have effectively wasted so many years in building that. Furthermore, any savings from salary coming in will take even 10s or 20s of years to even match back what I’ve lost,” he wrote.
He added that he had a full-time job in the past, but after seeing some “consistency” in his trading, he decided to switch to full-time trading and quit.
“I was doing very decent and managed to have about 500K in total savings from trading. Some bad months happened, and I lost almost all of my savings and buffer, which was supposed to be a replacement for my employment income,” u/tradingyn wrote on the subreddit r/singaporefi.
He said that following a significant loss, he is now extremely anxious and worried since he had little savings left—roughly $30,000—and, therefore, less money for trading.
He added that having been unemployed for three years, it will be difficult for him to find work now.
SG Redditors: “Get a job, stop day trading.”
In the comments section, many SG Redditors offered sound advice, urging the 30-year-old man to get a job and stop day trading.
“Get a job, stop day trading. It sounds like you were leveraged up to your eyeballs and once the bull market had a hiccup, your strategies all failed and you could not control your emotions.
Which means your strategies, weren’t very good. So go back to a 9 to 5 job. Yes, it will take multiple years to make the money back. But, it can be made back,” one Redditor said.
Another Redditor also commented, “I suggest you stop trading for now, go and clear your head and do something productive such as learning a skill or finding a job to get some rolling income.
You wouldn’t want to risk the last 30k going up in flames either. If you really need to make a trade, consider downsizing your capital allocation and set a profit margin that makes sense and not hoping for 200-300% kind of gains.”
Additionally, one Redditor advised him to put his 500k loss behind him and concentrate instead on the fact that he has enough money saved—roughly $30,000—and that he is debt-free.
He also added that a “30-year-old is very young. Can rebuilt back easily. Most important is to keep learning and growing. You might have lost some money, but the knowledge and experience you gain is priceless.”
How to get back on your feet after a big trading loss
Losing huge amounts of money can be extremely distressing for an individual, especially if those funds were intended for retirement, a child’s education, living expenses, or the purchase of a property.
People may experience feelings of shock, overwhelm, and regret because they simply never thought they would suffer such a significant loss.
But while this tragedy can leave you with a million ‘what ifs’ and make you feel like you are at a dead end, there are still ways to get out of this depressing scenario:
Take a break from trading. Don’t immediately jump on the next train and waste away your remaining money. Allow yourself to heal first. This period usually varies from individual to individual; some only take weeks, while others take months or years. To avoid rash decisions, close your trading account and transfer the funds to your savings account.
Accept full responsibility for your actions. Don’t point fingers, and accept full responsibility for your actions. It was your money, so basically, it was your responsibility. Recognize that it was a mistake and resolve never to make it again.
Don’t look for shortcuts. Don’t believe someone if they happen to tell you they can get your losses back. Avoid taking shortcuts when attempting to stand back up. Remind yourself that you are competent enough to handle the situation on your own.
Earn your money back. Do not be trapped in your past, and look ahead. Regaining your losses should be your goal, ideally without resorting to trading.
Alternatively, a safer investment path to consider is through long-term value investing, as one prudent investor shared his story and advice in the link bel[/size]
do not trade..call those youtube trader bluff, those trading school only interested in your fee,
if trading so well, do they need to teach??? ownself make billion...read below and wise u
[size=11]30yo SG man says he “lost $500K savings” from day trading; “really need advice”
Story by Yoko Nicole • 3h
[/url]
[url=https://www.msn.com/en-sg/news/world/30yo-sg-man-says-he-lost-500k-savings-from-day-trading-really-need-advice/ar-AA1mXaL6?cvid=60147a21e0fd47e78a5046b9933c1156&ocid=winp2fptaskbar&ei=13&fullscreen=true#image=2]
30yo SG man says he “lost $500K savings” from day trading; “really need advice”© The Independent Singapore
SINGAPORE: After losing almost $500,000 in day trading (buying and selling market shares), a 30-year-old man recently turned to social media to seek advice on moving on.
“Really need advice. I am feeling very sad, guilty and anxious over the lost money, and the fact that I have effectively wasted so many years in building that. Furthermore, any savings from salary coming in will take even 10s or 20s of years to even match back what I’ve lost,” he wrote.
He added that he had a full-time job in the past, but after seeing some “consistency” in his trading, he decided to switch to full-time trading and quit.
“I was doing very decent and managed to have about 500K in total savings from trading. Some bad months happened, and I lost almost all of my savings and buffer, which was supposed to be a replacement for my employment income,” u/tradingyn wrote on the subreddit r/singaporefi.
He said that following a significant loss, he is now extremely anxious and worried since he had little savings left—roughly $30,000—and, therefore, less money for trading.
He added that having been unemployed for three years, it will be difficult for him to find work now.
SG Redditors: “Get a job, stop day trading.”
In the comments section, many SG Redditors offered sound advice, urging the 30-year-old man to get a job and stop day trading.
“Get a job, stop day trading. It sounds like you were leveraged up to your eyeballs and once the bull market had a hiccup, your strategies all failed and you could not control your emotions.
Which means your strategies, weren’t very good. So go back to a 9 to 5 job. Yes, it will take multiple years to make the money back. But, it can be made back,” one Redditor said.
Another Redditor also commented, “I suggest you stop trading for now, go and clear your head and do something productive such as learning a skill or finding a job to get some rolling income.
You wouldn’t want to risk the last 30k going up in flames either. If you really need to make a trade, consider downsizing your capital allocation and set a profit margin that makes sense and not hoping for 200-300% kind of gains.”
Additionally, one Redditor advised him to put his 500k loss behind him and concentrate instead on the fact that he has enough money saved—roughly $30,000—and that he is debt-free.
He also added that a “30-year-old is very young. Can rebuilt back easily. Most important is to keep learning and growing. You might have lost some money, but the knowledge and experience you gain is priceless.”
How to get back on your feet after a big trading loss
Losing huge amounts of money can be extremely distressing for an individual, especially if those funds were intended for retirement, a child’s education, living expenses, or the purchase of a property.
People may experience feelings of shock, overwhelm, and regret because they simply never thought they would suffer such a significant loss.
But while this tragedy can leave you with a million ‘what ifs’ and make you feel like you are at a dead end, there are still ways to get out of this depressing scenario:
Take a break from trading. Don’t immediately jump on the next train and waste away your remaining money. Allow yourself to heal first. This period usually varies from individual to individual; some only take weeks, while others take months or years. To avoid rash decisions, close your trading account and transfer the funds to your savings account.
Accept full responsibility for your actions. Don’t point fingers, and accept full responsibility for your actions. It was your money, so basically, it was your responsibility. Recognize that it was a mistake and resolve never to make it again.
Don’t look for shortcuts. Don’t believe someone if they happen to tell you they can get your losses back. Avoid taking shortcuts when attempting to stand back up. Remind yourself that you are competent enough to handle the situation on your own.
Earn your money back. Do not be trapped in your past, and look ahead. Regaining your losses should be your goal, ideally without resorting to trading.
Alternatively, a safer investment path to consider is through long-term value investing, as one prudent investor shared his story and advice in the link bel[/size]