How do you cop with financial loss? >lost 60% of my money

>>1632561
lel

Quit gambling. Never risk more than you can afford to lose. Unfortunately it sounds like you learned this the hard way. Find a new or better job and work hard to make more money, save it up, and live on a budget.
TLDR life goes on. Rebuild with hard work and you'll surpass where you were before. Vidya as disctration in case of suicidal ideation

>>1632561
Why would you buy penny stocks instead of real ones?

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>>1632561
>Invested 60% of his money on penny stocks

>>1632561
dont be stupid next time

lemme guess, you also use Robinhood cause you heard

>ITS FREE!!!!
>they only take what you dont invest :) ;)

>>1632561
But you can invest your remaining forty cents on other penny stocks and get it back!

>>1632620
whats so bad about robinhood tho?

>>1632690
well for one the lie that its free

2- they only allow certain trades on certain markets. You cant get in on the canadian week stock market which ive made a killing on

3. They limit the amount of trades you can do in a day, if i want to day trade let me day trade, why the fuck are you limiting me?

On bright side: your so fucking poor 60% of your money is probably less than a years savings

40% of your money can go into bonds or safe stocks to give you some cushioning

73% of Americans have under 1,000 in savings and 23% have zero

>>1632578
What if I can afford to lose a lot but hate losing?

>>1632732
Day trading rule goes for all margin accounts under $25k, robinhood instant is considered a margin account

>>1632787
>73% of Americans have under 1,000 in savings

this can't be true can it?

>>1632561

Accept it and move on. Seriously.

I lost $75k in 2011- mostly due to theft. Got $0 from insurance. Felt sick to my stomach for about 3 months, and the pain started to subside. Still bugs me from time to time.

>>1632787
If this is true, then I'm a helluva lot richer than I thought I was. I have line $1.4k in a savigns account with $400 in Robinhood and Acorns. I'll be liquidating my Acorns shit for an actual vanguard index fund the next chance I get after Thanksgiving break.

>>1632732
Because of SEC rules you fucking idiot.

>>1633195
Then don't risk any. Why are you asking me.

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>>1632787
>73% of Americans have under 1,000 in savings and 23% have zero

seriously

>>1632732
This is fucking derpy

>>1633305
>>1633353

It's true. Americans buy most of their shit anyways. You'd be surprised, they're incredibly irresponsible when it comes to finances.

>>1632561

I average down and don't buy shit until after a CR

>>1632787
This makes me excited about buying property in the future

>>1633384
Probably because the old-money never learn how to handle finite money and the poor never learn how to handle large amounts of money.

>>1633384
CR?

>>1632605

I wanted to get rich

>>1633540
Well you helped people get rich. Someone out there is 60% richer thanks to you.

>>1633248
Story?

>>1633540
>I wanted to get rich
By this, do you mean you wouldn't have been satisfied with the return you could've made on a lesser number of shares?
And therefore bought pennies because you could buy a lot more of them, thus multiplying your anticipated return?

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>>1633558

sort of ...I thought they had the best chance of increasing alot as opposed to stocks like Apple or Microsoft which only move like half a percent a week

>>1633540
well ya done goofed kiddo

>>1633565
Well, if it's any consolation, I know a lot of people here who fell for the same line of thinking.
The thing is, these stocks aren't unknown to the big players, they have tickers, any screener can pull them up. So if there's a serious lack of interest from large players (which would up the price considerably), you have to figure there's another reason they're not interested.
It's not that lightning can't strike on them, it's just very unlikely, and that's why serious participants choose to put their money somewhere with a much better chance of return, even if it seems low.

> used robinhood
> brought 50 shares of AMD when it was around 3 bucks
> slowly watch it climb to 9 bucks a share

I regret not buying more...

>>1632787

I'm actually curious, do you have any kind of fact check on that stat? So you are saying only 4% of people have more than 1k in their bank account?

1 out of fucking 25 people? There is no way in hell that is right. Only way that could maybe be true is if you meant 23% of those 73%.

>>1633583
My two cents is that penny stocks have been veyr dangerous in the past and veyr fickle so a lot of big wigs just said fuck them and didnt touch them again.

But we live in a new era where you arent running internet on a 52k modem. I know they all use fast computers and fancy tech too but with instant updates every few seconds and the ability to sell and buy instantly penny stocks are a better chance then ever. The biggest advantage right now is word of mouth is extremely fast these days, you can catch a moon stock rising early early on and sell out when it hits a high.

Literally chasing stocks but we have the speed and timing to pull it off now. All you need is the ability to read charts and know when to walk away.

>>1633627
no, 27% of people have more than 1k in their savings

>>1633627
>if you meant 23% of those 73%.
the 23% is part of the 73% but isn't 23% of the 73%.

If we have one grapefruit and three marbles, and one of the three marbles is black, then 75% of our collection is marbles and 25% of it is black marbles. That does not make the one black marble magically 25% of the marbles. It's still just 33% of the 75%, not 25.

>>1632787
heres the source, my mistake, 73 was only poorest of poor, total Americans are fucking 69
http://www.usatoday.com/story/money/personalfinance/2016/10/09/savings-study/91083712/

>>1633647
Autism free version:
23% have zero
50% have more than zero but under 1,000

>>1633689
>7000 people studied
>0.000033% of US population

Great sample size

>>1633695
*adult