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Glum_Mongoose_8482 OP t1_j1zgq7e wrote

Reply to comment by Meanie_Cream_Cake in A goodbye to WSB by Glum_Mongoose_8482

https://preview.redd.it/m5dn71md9p8a1.png?width=1170&format=png&auto=webp&s=2b0b7eac9c2d5ec7a735457031125a46908800a9

There you go, it was 5x leverage.

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JohnLaw1717 t1_j1zh5mu wrote

5x leverage?

Jesus Christ

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Glum_Mongoose_8482 OP t1_j1zhklk wrote

Yes, unfortunately I’m in need to find a source of income soon, and desperate times causes high risk taking

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JohnLaw1717 t1_j1zhz59 wrote

Gambling on credit isn't an income

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Glum_Mongoose_8482 OP t1_j1zimlx wrote

Can’t disagree, I was tempted by the idea of day trading and using 5x to quicken the earning process. It was a bad decision but I don’t regret as it was a needed lesson that I won’t repeat

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Simplevice t1_j1zs7nv wrote

You know that 212 earns 90% of its money on cfds?

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Glum_Mongoose_8482 OP t1_j21dgrr wrote

Yeah, I know the risk associated with Cfds. And I couldn’t find another platform better than 212

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Simplevice t1_j21dur5 wrote

It doesnt matter what platform it is. CFDs are banned in USA. That should tell you something

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Glum_Mongoose_8482 OP t1_j21emma wrote

Yeah, now I know. I was enticed by the leverage, and I couldn’t find a platform that does option initially (but now I do know about Plus500). So I thought why not give Cfds a try, and was told that they use the spread from Bloomsberg so thought it wouldn’t be that bad, I was wrong and lost money.

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