Transitioning from IM to WallStreetBet Sophisticated Theta Farm Retard

[IamNRE]

After playing the IM game for a decade +, I've decided to give this shit a break for now.

Its hella tough. There's very little control, you either rely on a social network that can ban your ass for breaking the tiniest of terms or just because its Tuesday and the soul-less noob working FB/Google etc. decided he'd fuck with ya shit just for kicks and giggles.

No, fuck this shit. Its not for me. I lost the passion for it years ago. I have been living off my meager savings and credit cards for a while now trying to get shit popping in IM, sadly nothing really took off.

So now I'm £40k in debt, no real source of income - my credit limit is almost maxed out and I gotz to dig myself out of this fucking hole ASAP.

=============

The new plan is to invest in the stock market. I've spent the last £10k I had and dumped it into 2 stonks. $AMC and $ATOS.

I originally was planing on buying deep ITM LEAPS and selling covered calls using the LEAPS as collateral.

Rant: I won't bother explaining what these terms mean, if you're too lazy to go to youtube and look them up, then fuck you. No offence. End of rant.

But I learned the hard way that selling covered calls using LEAPS isn't the best thing to do - the price of my LEAPS/shares went up, which meant my covered calls did too. Which meant I'd get assigned/called .... and I'd have to give up my leaps for a small profit, however my LEAPS expire in like 2 years, so I don't want to sell them off for chump change profits. So I exited those covered calls, which cost me $700. However now I don't need to worry about my LEAPS being sold off to cover my trades so my 2 $AMC LEAPS are worth $3k+ (bought for $1500). And may 50 $ATOS are worth around $10k (bought for roughly the same price). Still hodling -50 covered calls in $ATOS, I might let them expire worthless - only 20 days to go.

I literally have 0 experience other than the 1-2 trade I did earlier this year when $AMC & $GME was going ape shit. I was just a little bit late to that party and made a small lost trading them (not much though).

So its a learning process for me - I'll post links to the youtube channels I follow and have been learning from at the bottom.

=============

New plan is to keep the deep in the money LEAPS, but also buy ATM call debit spreads to earn a monthly income while I wait for my LEAPS to blow up.

I did a test debit spreads just to see how it works, made $90 on the $AMC.

I'll see what happens to $AMC if it keeps blowing up, then I'll ride the wave, otherwise I'll exit, take my profits and pay off a little bit of my debts and buy debit spreads in $ATOS with the rest. Found a juicy spread costing only $0.15 on a $1 spread. Meaning I risk $0.15 to make $1... and all the stonk has to do is stay in the Money.

=============

Youtube channels worth checking out:

https://www.youtube.com/channel/UCcmZHsuUt_DOzcgIcLd0Qnw
https://www.youtube.com/channel/UCZtTrFwjQoibMOdPHpQ9R9A
https://www.youtube.com/channel/UCfMiRVQJuTj3NpZZP1tKShQ
======

I am trading using TastyWorks ( as the best platforms are in the US, and people outside of the US don't have access to them). So that's the one I recommend.

Warning: This is not financial advice, just here to inspire others that might be stuck and wondering what to do next. Learn something new from scratch and try again.

 

[Topiano]

Joined the AMC bandwagon couples days ago. It’s a serious gamble as been inflated by loads of drunkards on WSB.

All the best in your journey man . Following

 

[IamNRE]

Alright so this is how my account looked like on day 1 (May 22nd 2021).

Gonna aim for $10k/month from trading stonks. Hopefully I don't blow up my account.

We'll update soon with this week's trade.

 

[IamNRE]

Spent the last $600 I had on some $AMC debit spreads expiring this Friday.

I bought 20 of those bad boys. Cost me $28 per spread. If $AMC is over $25 bucks at the end of Friday trading hours, then I make $100 from each spread (minus the $28 = $72). So in total my $600 can make $72 x 20 = $1440.

 

[INCC]

Spent the last $600 I had on some $AMC debit spreads expiring this Friday.

I bought 20 of those bad boys. Cost me $28 per spread. If $AMC is over $25 bucks at the end of Friday trading hours, then I make $100 from each spread (minus the $28 = $72). So in total my $600 can make $72 x 20 = $1440.

How you doing there mate:

 

[iDany]

not trying to be negative and just giving an honest suggestion from similar experience, if you can sell and get out, do it now and start paying off your debt, forget about gambling-mentality (as soon as I can earn my debt back and a little positive, I'll stop... they never do)
get a normal job, doesn't matter what, something that would pay your rent+expenses+debt. and keep doing it, until you have 0 debt...

you reach a time in your life that you have to realize "I don't want to get rich quick, I rather get rich slow but with minimum risk instead of keep risking in hope of getting rich".

I've been where you are and I stopped myself before it was too late, I paid off my debt and I'm now debt free(it took me couple of years) + I started investing long term for the next 20years.
in 15years I know I'll have at least a million, the way I was going before I thought I'll make the 1 million in a month...
once I slowed down and start thinking long term, I have been able to setup multiple strategies for wealth building in long term, and I'm confident all of them will work because it's low risk.
I can do that because I have a boring 9-5 job that every-course-selling-guru says to get out of it and earn millions...

 

[AlexanderTheGreat]

Please be careful.

 

[IamNRE]

not trying to be negative and just giving an honest suggestion from similar experience, if you can sell and get out, do it now and start paying off your debt, forget about gambling-mentality (as soon as I can earn my debt back and a little positive, I'll stop... they never do)
get a normal job, doesn't matter what, something that would pay your rent+expenses+debt. and keep doing it, until you have 0 debt...

you reach a time in your life that you have to realize "I don't want to get rich quick, I rather get rich slow but with minimum risk instead of keep risking in hope of getting rich".

I've been where you are and I stopped myself before it was too late, I paid off my debt and I'm now debt free(it took me couple of years) + I started investing long term for the next 20years.
in 15years I know I'll have at least a million, the way I was going before I thought I'll make the 1 million in a month...
once I slowed down and start thinking long term, I have been able to setup multiple strategies for wealth building in long term, and I'm confident all of them will work because it's low risk.
I can do that because I have a boring 9-5 job that every-course-selling-guru says to get out of it and earn millions...

Thanks for your input. Appreciate you sharing, because sharing is caring bro. I feel ya. Trust me, I feel ya.

But I'm trying to get rich, I don't have any kids, no responsibilities, so I can still afford to take a little bit of risk. I also do my research. I've weighed everything up and for me, this is the best move.

I'm actually doing debit spreads (which has limited risk and limited profits) using credit I get from selling covered calls.

And I buy deep in the money LEAPS or stocks that I can sell covered calls on. Basically I limit my risk, while still earn a little something-something for my trouble.

Thanks again. Watch this space.

Please be careful.

You don't become great, by playing it safe. To da $M0000000000000N

 

[Soucha]

I don't personally like meme stocks because I don't think it's wise to gamble on stocks with inflated/artificial values.

But that being said, AMC is up 14% today.

Good luck.

 

[IamNRE]

How you doing there mate:

So far, today has been a great day.

I'm up $8k today, x2 my total investment in about 10 days.

But I'm still hodling, we're taking the hedgies & shorties to the cleaners.

To da F*cking Moooonnnnnn

 

[IamNRE]

I don't personally like meme stocks because I don't think it's wise to gamble on stocks with inflated/artificial values.

But that being said, AMC is up 14% today.

Good luck.

I'd agree with you on that.

They are over-valued now. But back when $GME was around $50 and $AMC was around $7 .... it was a great bet to take.

But at these prices, I would not recommend people invest unless you can afford to lose it.

$BB is still a good bet. Just buy and HODL that shit for 3 years, thank me later.

 

[sabertoothsalmon94]

Good luck! I'm very interested in the outcome of your situation

 

[Soucha]

Dang, AMC just went WAY up. lol

 

[Priince1337]

How you doing there mate:

AMC is up over 80% today.
How you doing there mate

 

[Gboyers]

Good luck will be following your journey very closely!

 

[Bicycle Crash]

After playing the IM game for a decade +, I've decided to give this shit a break for now.

Its hella tough. There's very little control, you either rely on a social network that can ban your ass for breaking the tiniest of terms or just because its Tuesday and the soul-less noob working FB/Google etc. decided he'd fuck with ya shit just for kicks and giggles.

No, fuck this shit. Its not for me. I lost the passion for it years ago. I have been living off my meager savings and credit cards for a while now trying to get shit popping in IM, sadly nothing really took off.

So now I'm £40k in debt, no real source of income - my credit limit is almost maxed out and I gotz to dig myself out of this fucking hole ASAP.

=============

The new plan is to invest in the stock market. I've spent the last £10k I had and dumped it into 2 stonks. $AMC and $ATOS.

I originally was planing on buying deep ITM LEAPS and selling covered calls using the LEAPS as collateral.

Rant: I won't bother explaining what these terms mean, if you're too lazy to go to youtube and look them up, then fuck you. No offence. End of rant.

But I learned the hard way that selling covered calls using LEAPS isn't the best thing to do - the price of my LEAPS/shares went up, which meant my covered calls did too. Which meant I'd get assigned/called .... and I'd have to give up my leaps for a small profit, however my LEAPS expire in like 2 years, so I don't want to sell them off for chump change profits. So I exited those covered calls, which cost me $700. However now I don't need to worry about my LEAPS being sold off to cover my trades so my 2 $AMC LEAPS are worth $3k+ (bought for $1500). And may 50 $ATOS are worth around $10k (bought for roughly the same price). Still hodling -50 covered calls in $ATOS, I might let them expire worthless - only 20 days to go.

I literally have 0 experience other than the 1-2 trade I did earlier this year when $AMC & $GME was going ape shit. I was just a little bit late to that party and made a small lost trading them (not much though).

So its a learning process for me - I'll post links to the youtube channels I follow and have been learning from at the bottom.

=============

New plan is to keep the deep in the money LEAPS, but also buy ATM call debit spreads to earn a monthly income while I wait for my LEAPS to blow up.

I did a test debit spreads just to see how it works, made $90 on the $AMC.

I'll see what happens to $AMC if it keeps blowing up, then I'll ride the wave, otherwise I'll exit, take my profits and pay off a little bit of my debts and buy debit spreads in $ATOS with the rest. Found a juicy spread costing only $0.15 on a $1 spread. Meaning I risk $0.15 to make $1... and all the stonk has to do is stay in the Money.

=============

Youtube channels worth checking out:

https://www.youtube.com/channel/UCcmZHsuUt_DOzcgIcLd0Qnw
https://www.youtube.com/channel/UCZtTrFwjQoibMOdPHpQ9R9A
https://www.youtube.com/channel/UCfMiRVQJuTj3NpZZP1tKShQ
======

I am trading using TastyWorks ( as the best platforms are in the US, and people outside of the US don't have access to them). So that's the one I recommend.

Warning: This is not financial advice, just here to inspire others that might be stuck and wondering what to do next. Learn something new from scratch and try again.

You remind me of the 19 and 23 year olds on YouTube banking hundreds of thousands going from drop shipping to investing.

We all have an alternate plan of action if we only had a time machine.

The thing is we know darn well on day 1 that it is risky building on someone else's platform. But we just do not have the commitment to build on our own virtual real estate. Most of us move too fast. We want everything now really we want it yesterday. When I create a site I am already thinking about how it will appeal to a future investor.

But the people who took the turtle and the rabbit route always win. When you want to know what to build today go over to a place like Empire Flippers and see the Millions of dollars some Assets are flipping for.

Go over to Flippa and read some of the gold nuggets sellers generously give on every aspect of how they built their website into a revenue machine.

After that you then know what to start building because you see with proof that it may be extremely valuable because an Auction site showed you the path. Investing in your own Domain is same as Investing in compounding interests assets in my humble.

 

[IamNRE]

I paper handed on $AMC and cashed out some of my profits. Still hodling 1 leap thats worth $5000 today. Sold the other one for around $5k last week. I originally bought the 2 leaps for $1500, so each one cost me roughly $750. Not bad for 2 weeks of HDOLING.

Otherwise I've made a small bet with debit spreads that $BB will end this Friday at least $15+.... if it does I make $600+ from my $350 bet. Debit spreads FTW ya'll.

I also had to roll my $ATOS because that shit is blowing up. It was expiring next Friday and I would get assigned if the price was above $6, so instead I rolled it up and out - now it will expire in about 39 days at $9. I hope it won't hit $9... then I keep most of my little premium.

Not sure why my previous posts were deleted. Must have broken some terms I'm not familiar with. @mods

 

[IamNRE]

Lost $120 or so on $BB last week.

However I made $3500 on $AMC selling debit spreads.

I bought some new $AMC debit spreads today expiring in 90 days. Strike price $100+. If I hit that then I make $4200+ from $700 investment. I'll probably sell it before it expires (probably next week or the week after that).

Otherwise I reinvested $7000 into $QQQ .... to expire at above $40 by Monday (in 3 days time). If it does, then I collect $1800. This order is still pending though.

... Fuck Internet Marketing. The platforms will rape ya. Learn how to trade stonks, boyz.

 

[Willyfish]

What is a leaps sir? Can you explain?

Joking, I wish you good luck.. should be hard to give up internet marketing after 10 years... did you build a brand in this time or it was just making money methods that all died one after the other?

 

[IamNRE]

What is a leaps sir? Can you explain?

Joking, I wish you good luck.. should be hard to give up internet marketing after 10 years... did you build a brand in this time or it was just making money methods that all died one after the other?

You'd think it would be hard, but not really. I grew tired of that shit a long time ago, but just kept going in hopes of one day making it.

I tried methods, I tried brand building, I tried a lot of things man.

Here are some of my recent projects;

fr33way.com
dacoop.com
calltraxx.com
freebikerepairkit.com
subscriptioncow.com

All more or less failed for 1 reason or another.

IMO, to make it in business, you need to be a monopoly or have some type of moat/barrier to entry to keep out the competition, but if noobs can copy you and compete with you in under 7 days, then you're Fk'd.

Plus, 1 person doesn't have all the skills needed to execute and compete with well funded established business or venture funded start-ups. They have teams behind them with a vast amount of experience. Its like taking on a gang of bikers, while you're on your own - just because you hit the gym doesn't mean that you'll be able to take on 10 people.