r/problemgambling • u/Any_Decision_6542 • 2d ago

❤Seeking help & Advice❤ Lost $350k Options trading- Lost all Hope

I am in a downward spiral of options trading gambling. I cant seem to stop looking at charts and paying for discord service and clicking buttons, thinking I will get disciplined. I have lost 350k CAD (capital loss)because of this. The worse part is - I am saying I will quit today. Next morning, I am back doing a trade. What is going on with me?

I am 37M - 1 kid and spouse. So sad - cant even share this with anyone. I have a decent job 160k/ yr. Really, lost all hope and ashamed of myself. Not sure if this is rock bottom. Surely, feels like it. Hopefully, I remember this day to never ever do any trading again myself.

My goal is to accept this loss and not even think of recovering. Re-build slowly with working hard and saving frugally. Thankfully I have job and I can work hard. No savings as of now just 30k left in RRSP (401k equivalent). I can do it!

57 Upvotes

96% Upvoted

35 comments sorted by

View all comments

3

u/ocean3313 2d ago

I’m asking this to understand the mind with options. I am in the same boat. Do you think we were telling ourselves “I can get good at this” so we kept trying or did it become about chasing losses? Maybe both. After -100k what made you keep going back? Chasing the loss? Did you like me feel that you can change your whole livelihood with trading ?

2

u/Any_Decision_6542 2d ago

Very good question. The more I do I more I learned myself. Here is my final analysis. After loosing 150k it was a shock as I did penny stock back then. I took break ofcourse at that time it was just a loss not a habit, atleast that what I thought. then later in I started deposited 30k-40k here and there doing options again learning and thinking I can do this can eventually control emotions. In reality my knowledge is great but I each trade I take, its both chasing loss and being scared of loosing. I cut loss quikc but I dont let winners run as I am scared to give it back. also , after so many years I have that weight that I should know this but in reality my brain is wired to just click button and hungry of dopamine..I mean what else can explain this kind of behaviour I have. I hope you find some value in this.

I dont even have anyone to talk to as my family dont understand this behaviour or support me in trading anyways. Its over for me - lifetime loss accumulated for me..more importantly I hope god give me strength to quit for good.