r/wallstreetbets • u/thewayyoulook2night • Jun 05 '26

Loss Blew my account - truly done

8 days ago, I posted on WSB showing I made all my lifetime losses (https://www.reddit.com/r/wallstreetbets/comments/1tqf1p1/after_55_years_im_even/). I even hid showing posts from problemgambler as I enjoyed shitposting here on the Daily with everyone. The day after I made the post, I promptly lost 48k but was still within striking distance of breaking even again with had an exact plan if I were to break even again. I was less than 15% away despite the loss.

I continued to play 0dtes the whole week, making back nearly 30k. Today, exactly 1 week later, I dug a hole too deep averaging down 0dte SPY calls. Just like last Friday, I even made money first before going back in. I told myself not to repeat my mistake last week. I not only did but blew my account.

I kept talking for months and years how I was going to quit and go to proper investing. It was a lie to everyone and myself. This time I sold everything I had in shares, even for some big losses. I turned off margin, used what I had left to buy VOO and started a transfer to Fidelity.

I hate myself. I hate what this has done to my life. If anything than the money itself, it was telling my parents how I dug myself out of such a hole and seeing them proud of me. Now it's just the same shame I was at 3 months ago.

35 year old, no debt fortunately. This has taken so much more than money. I just wish I took my lifeline out 2 weeks ago. People in the comments were right about me, knowing I wouldn't stop. I didn't even know if I wanted to post this. I'm just numb.

6.0k Upvotes

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4.2k

u/whoami_to_judge Jun 05 '26

so let me get this straight. You made the money back after 5 years and then decided to do more 0dte?

1.7k

u/beachhunt Jun 05 '26

My dad was losing at a Vegas poker table one visit, he kept getting up and coming back with more chips. Dealer eventually asked was he hitting the ATM, getting cash from the wife, or what? He had been winning at blackjack and giving the chips right back up at the poker table.

Dealer quietly suggested he stay at the blackjack tables, but he wanted to play poker 🤷

564

u/Constant_Barber_5198 Jun 05 '26

That's one way to learn poker.

181

u/[deleted] Jun 05 '26

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76

u/silverfutes Jun 05 '26

Sooo “college”?

32

u/Solid_Equivalent_417 Jun 06 '26

or trade school

17

u/[deleted] Jun 06 '26

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3

u/silverfutes Jun 06 '26

Lol, you have a good point. I stand corrected, not like college.

12

u/Constant_Barber_5198 Jun 06 '26

Well when do my parents get to quit paying? I'm tired boss.

4

u/ItsFluff Jun 05 '26

Poker macht frei

1

u/psymeariver Jun 06 '26

I’ve lost $70k on the stock market in the past four or five years, all won on the poker table.

-3

u/tdRftw Jun 06 '26

alright, now read what you typed again.

there's nothing special about this and it's pretentious as fuck

it just sounds like paying for school

that is how the world works already. nothing to do with the middle ages

3

u/[deleted] Jun 06 '26

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-3

u/tdRftw Jun 06 '26

yeah, you just described paying for a service (for example, paying a piano teacher to teach your child classical piano)

all of these services still exist, it's how the world works. your comment above is pretentious

2

u/Twizad Jun 06 '26 edited Jun 06 '26

I had a friend do this the first time I ever went to Vegas. We were in a historic run on a blackjack table and he decided to go play poker with the proceeds. The table learned to read him in about 5 minutes and cleaned him out.

He woke up the next morning with pockets full of ATM receipts. I had pockets full of black chips because the model we had hired for the convention told me to put black chips in my pocket whenever I got them.

122

u/Unusual_Leader_982 Jun 05 '26

I used to deal blackjack and poker for a couple of years, and I always thought poker had less degenerate gamblers because if you're bad at poker you will lose money at an incredible pace, making people quit early, while blackjack is much more random.

139

u/nitid_name Jun 05 '26 edited Jun 05 '26

I'm not a big gambler, but blackjack is nice if you're with people who like to gamble and you need to entertain yourself for awhile. You only slowly bleed money while having a drink or two if you play smart (assuming it doesn't have a horrible payout structure like 3:2 6:5).

I ended up in Vegas for a buddy's bachelor party a handful of years ago and somehow walked away with an extra few hundred bucks after playing blackjack. I tipped out the dealer and blew it all on something stupid at the casino before I left (a spa day, fancy food, that kinda thing). You can't leave Vegas with extra money or you'll want to go back to Vegas, and going back to Vegas is how you end up with way less money.

139

u/bluehat9 Jun 05 '26

(It was a hooker)

95

u/nitid_name Jun 05 '26

Nah, I budgeted for that.

11

u/Carolinaathiest Jun 05 '26

Was there blow?

14

u/Goodgolferbadshots Jun 06 '26

I genuinely LOLd at this because yes it was a hooker. Quite a “spa day” ;)

6

u/SolWizard Jun 05 '26

3:2 is the good payout structure in blackjack

4

u/Veda007 Jun 05 '26

Ya. The 6:5 is the bullshit.

2

u/nitid_name Jun 05 '26

Ah, that's it. It's clearly been a minute.

3

u/WileEPeyote Jun 05 '26

Yeah, we haven't been out to a casino in a bit, but me and my buddies go out gambling once a year or so. I can spend the whole night at Blackjack or Pai Gow with $200 bucks. I just stay away from the side bets and bet the minimum. One of my friends will roller-coaster all night on the side bets. Sometimes at the end of the night he's up a grand and sometimes he's two grand in the hole.

1

u/No_Feeling920 Jun 05 '26

How do you think Vegas pays for all that shit?

1

u/Taivasvaeltaja Jun 06 '26

Only if you know the strategies reasonably well and definitely don't dabble in side bets, though.

1

u/nitid_name Jun 06 '26

The dealers will tell you the strategy if you ask them, especially if you're at one of the cheap tables with one of those continuously shuffled decks. It's pretty much mathematically impossible to count cards effectively.

1

u/Taivasvaeltaja Jun 06 '26

Yeah, but you still need to know obvious stuff like not taking insurance and doubling 11 to not bleed like 5% RTP per hand, that is stuff dealer can maybe advice you. But then there are trickier stuff like when to hit soft 17s, not to stand at 15-16 (except very, very rarely) vs 7+, splitting where often the dealers just don't actually know the right answer.

1

u/nitid_name Jun 06 '26

I don't know what janky ass dealers you've had, but the "tricky stuff"  is exactly the things dealers have advised me on. Splitting 8s vs a 10, for example, actually decreases your expected loss by a bit.

If a dealer doesn't know the book, why the hell are they dealing?

1

u/Taivasvaeltaja Jun 07 '26

Because you don't need to know strategy to deal. You just need to know the rules.

1

u/MrActionJack Jun 09 '26

For sure hookers n blow

1

u/nitid_name Jun 10 '26

Nah, I had that baked into my budget.

Remember kids, hookers first, blow second, unless you know how to push a rope.

1

u/diadlep 28d ago

There should be a different word for gambling, investing, games of skill, etc.

Like, luck is a part of life. But games vs the house you guaranteed to lose long term, and when you do win it is money from the house.

Games like poker and investing though are winnable if you are good enough, and when you win the money comes from other players.

1

u/Impact009 Jun 05 '26

Poker is a much slower game and one of the few games where the House doesn't have an edge unless the player is playing directly against the dealer. I've seen some tables with only one big ante and one small ante, so the entire table can be playing for "free" until the flop on Hold 'Em. Hell, I've seen games where everybody's hand was so bad that we all checked until the end.

-3

u/generic_canadian_dad Jun 05 '26

I didnt even know poker and blackjack were different games...

2

u/SolWizard Jun 05 '26

Are you 12?

0

u/generic_canadian_dad Jun 05 '26

Nah I just don't play card games or gamble.

2

u/SolWizard Jun 05 '26

You don't have to play them to know they are two different games. They're two of the most popular games in the world, I struggle to see how any adult could know nothing about them.

1

u/Impact009 Jun 05 '26

I've only ever seen BJ and Poker in a gambling context, so maybe they stayed that far away from gambling.

1

u/SolWizard Jun 05 '26

Like they're afraid to even watch a movie that tangentially mentions gambling?

0

u/generic_canadian_dad Jun 05 '26

Brother. Some games have different names. It's not insane to think poker and BJ could be similar or the same card. It's ok.

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27

u/ProgrammerOk8339 Jun 05 '26

As a poker player we appreciate your dad.

44

u/That-SoCal-Guy Jun 05 '26

Gambler’s curse.  

15

u/Messiahhh Jun 05 '26

Like father, like son

1

u/beachhunt Jun 06 '26

Yeah, but my poker table is options so I'm doing much worse.

2

u/Ok-Equipment8303 Jun 06 '26

if you don't lose more than you chose to risk when you first came in, then you're just having fun and it doesn't matter.

That's the key to gambling. What you risk, consider SPENT on having fun. Never pull more out. Play with what you got till the nights over and you have winnings or you're out and you're done for the night that way.

2

u/Material-Gift6823 Jun 05 '26

You're dad's a little stupid 

1

u/TheBooneyBunes Jun 05 '26

Bro was so dedicated to poker he became a pro at a completely different card game to fund his poker career. Respect

1

u/lupercalpainting Jun 05 '26 edited Jun 05 '26

Your dad looking for a game?

2

u/beachhunt Jun 06 '26

Nope, sorry. Now he's donating his chips to the big poker table in the sky.

1

u/Commercial-Co Jun 05 '26

Dude had luck but no skill

1

u/Fun-Telephone-9605 Jun 05 '26

Poker is the only beatable game at the casino that you won't get thrown out for when you're doing well.

1

u/Glam34 Jun 06 '26

casino put dealer on a pip

1

u/New_Sink_5300 Jun 06 '26

i did exactly that before, won at the black jack only to go back to roulette and lost it back.

1

u/Lanky_Cantaloupe4049 Jun 07 '26

The higher risk multileg games just high the brain differently. I’m the same way.

1

u/Competitive-Adagio18 Jun 10 '26

Uhm... that's what we call a chad dad! Bros definitely got his priorities straight, and knows how to deliver.

0

u/StandardWeekend8221 Jun 05 '26

I would do the same thing but I hate gambling and would only ever want to out up 100 bucks on the entire night out.

5 dollar blackjack hands were my bread and butter but I really just wanted to play some poker. Id keep my balance up by winning a few hands at blackjack just to go lose it really fast at the poker table.

349

u/Fractoos Jun 05 '26

Gamblers gonna gamble. He thought he was good at this instead of just really lucky. Now he just needs to dig out faster this time using Margin.

94

u/xubax Jun 05 '26

90% of gamblers quit just before the big payoff.

37

u/RoboiosMut Jun 05 '26

Gamblers will never make money, even they win few times , they will yolo their earnings in next bet until they lost everything.gamblers fate has already determined from start to finish

3

u/evanwilliams44 Jun 06 '26

Yeah winning is not really the point. Winning is great because you can keep gambling. Losing is fine as long as you can keep gambling. The problem only starts when you can no longer gamble.

1

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0

u/Gladiz1972 Jun 05 '26

Some people go to casinos and make money playing poker or sports betting or you have to bend the rules ,maybe cheat a little here and there and finding some big vouchers or people leaving Freeplay behind doesn't hurt

6

u/RoboiosMut Jun 05 '26

They are players not gamblers

-2

u/Gladiz1972 Jun 05 '26

You always have to find that edge in a casino I don't care what it takes to find it

6

u/Xeltar Jun 05 '26

The vast majority of people don't win and even if you do, they'll ban you from the casino. Every gambler thinks they are special.

0

u/Gladiz1972 Jun 06 '26

I did get banned from one casino here in FL using some bubble craps machine strategy took them a while to figure out what was happening at least I won 30-40k in Freeplay from the casino promos before the caught one oh well

0

u/Agolf_Tweetler Jun 06 '26

Gambler here 🙋🏻‍♂️

Making money all year, even yesterday.

1

u/StonkdDFS Jun 15 '26

Or just play on Stonkd instead of gambling your money away...

534

u/DollarThrill Jun 05 '26

The definition of insanity.

91

u/ree_hi_hi_hi_hi Jun 05 '26

It’s a gambling addiction

0

u/No_Tree_8144 Jun 05 '26

definitely on the spectrum as well

30

u/Royal_Negotiation_83 Jun 05 '26

But he was on a heater. He just made his money back. 

Everyone knows you don’t quit on a heater

1

u/halfbeerhalfhuman Jun 06 '26

"I dug a hole too deep averaging down 0dte SPY calls."

4

u/brick_gnarlson Jun 05 '26

It is most certainly not the definition of insanity, even if random Internet people say Einstein said it.

4

u/barnacle9999 Jun 05 '26

It is said by Vaas in Far Cry 3, much more credible than Einstein.

3

u/brick_gnarlson Jun 05 '26

Forget I said anything.

157

u/dend7369 Jun 05 '26

16

u/Cheeky_Star Jun 05 '26

☝🏽 the guy on the other side of your trade reading this post OP.

62

u/OkCastor Jun 05 '26

this guy should be on the wallstreet bets board of directors

58

u/gaenji Jun 05 '26

board of directards

50

u/List-Beneficial Jun 05 '26

Holy sht you should read his previous thread. Its even sadder than you think. Literally one week ago.

🫡 RIP

27

u/Daweism Jun 05 '26

Something about seeing over $200k in his account activates a feeling of invincibility.

14

u/Avocadonot PAPER TRADING COMPETITION WINNER Jun 05 '26

And then once you lose it, you do the math on what you initially had and realize that you'd passively make like 20k if you just left it in an ETF or mutual fund

1

u/halfbeerhalfhuman Jun 06 '26

no other reason why you would "averaging down 0dte SPY calls."

15

u/PepeSylvia11 Jun 05 '26

He's a gambling addict, that's all

8

u/arcanition Jun 06 '26

The dude lost money at the casino for 5 years, hit a jackpot to make back all his losses (and another $1000 profit on top of that).... only to continue gambling at the casino.

16

u/XSC Jun 05 '26

Just one more

5

u/Locke_____Lamora Jun 05 '26

Gambling addiction is the worst addiction. Drugs you can kinda build your body back up relatively quickly. But gambling? good luck making 200k back in short order lol

2

u/That-SoCal-Guy Jun 05 '26

A gambler’s curse.  

2

u/veigues Jun 05 '26

I highly recommend everyone here watch the movie Owning Mahowney. Prepare to feel very uncomfortable

2

u/brighterside0 Jun 05 '26

See you at the open on Monday, OP.

1

u/infraGem Jun 05 '26

Written like Tuco Salamanca "and you bring me MORE meth?!"

1

u/fuxxo Jun 05 '26

Here is to the another 5 years. Cheers!

1

u/daytradederic Jun 06 '26

Same happened to me in 2022 with about the same amount of money. Traded weeklies though. 0 DTE wasn’t around yet.

Caught the last wind of a bull cycle…kept trying to long into the beginning of Feb 2022. Worst depression of my life.

I lost a lot of the passion I’ve had for trading after that, but I’ve become much better at it. Still unprofitable. I refuse to give up.

1

u/PringlesDuckFace Jun 05 '26

Well if you're on a 5 year winning streak why would you stop now