I think this is a pretty obvious one though no ? Don’t bet money you don’t have ?
Do not take out a $50k loan at high interest rates to put it on positions that will allow you to lose 98% of your portfolio.
Also just curious but why did you take out a personal loan rather than using margin from Robinhood ? I would think the rates on margin might be cheaper and they also add some protections so you are not over-allocating the funds on one position etc…
Some advice ? Pay back the loan and close your account. If you ever want to invest do it in ETFs or mutual funds. Something you can set and forget. Maybe even one of those robo managed funds. Hell my robo holdings are up 10% these past 3 months. that could have been a nice 5k for you.
But yeah, pay back the loan as quick as you can in order to payback the least amount of interest possible. Do not go chasing to try and “recoup” that is a terrible perspective that only leads to more losses. Never take out a personal loan again, you should never need to do this if you are doing the right. So anytime you reach for a personal loan of some type ask yourself how am I fucking yo right now. Then stop everything you’re doing and reverse it.
Take this as a very expensive lesson in the school of hard knocks. If you don’t learn from it this lesson will be worthless, so get as much value you out of it as you can.
Look back ten years from now and laugh at your current self, now smarter and wiser and never having made the same mistake again.
The other version is looking back envying to be back in this position before you try to double down and recoup your losses only to lose everything once more and setting you up for a string of fuck ups.
You will get through this my brotha. Take the L with grace and start saving up.
This is how cowards trade. Real men don’t even need a chart, they just look at the ticker and see if it’s vaguely homoerotic. And if it is, they’re in.
My portfolio is now 100% **A**lbanian **N**anobot **A**pparel **L**abs.
It’s 1000x’d in 5 weeks 😎. Read that again.
