The Stock Market just CRASHED - i LOST my life savings... (2024 flash crash!) [mBgQeJ2AkGs]

So I woke up today and opened up my stock

trading app, and I found my portfolio to

be completely annihilated.

It's down almost 20%.

I've got like over £1,000 of my portfolio

value just wiped out, just suddenly out of

nowhere overnight, and it's gone.

And I'm feeling kind of freaked out right

now, kind of sad, because my portfolio is

doing really well over the past few weeks

and months.

It actually was starting to recover after

I lost that huge amount back in— I think

it was around 2021 or 2022 when the

previous massive crash happened.

And obviously that was really annoying,

but I started to actually bounce back up

because I started investing in some more

defensive kind of stocks, and I was

feeling pretty good about my portfolio.

And then last weekend something happened

that just broke the entire market.

Why is this happening?

I don't really know, but it's something to

do with interest rates being cut, and

something happened in Japan with the

market, which is affecting all of the

other markets for some reason.

I have no idea, but I think I know what

the actual reason for this market crash

is.

It's because I recently sold my inverse

S&P 500 position.

So a couple years ago when the market

crashed last time, at the bottom of the

crash, I bought quite a large amount in an

inverse S&P 500 ETF, which basically means

when the market goes down, I will make

money.

When the market goes up, I will lose

money.

And I sold the inverse S&P 500 fund last

week because I felt like like, wow, the

market is doing really well.

I don't think it's going to crash.

I sell it and literally next week the

market crashes and I could have made an

extra 8% if I just didn't sell the S&P 500

inverse ETF.

But because I have the worst luck ever, I

think I jinxed the whole market by selling

that inverse S&P 500.

So sorry about that.

I want to show you how much money I've

lost in total now since I started

investing.

It wasn't looking too bad until about a

week ago, but now it looks like I am down

by a total of £11,375 and I started off

with a £20,000 initial investment, which

means I'm down over 50% since I started

investing in the stock market.

So that's great.

But in the recent week, or I mean just

today, because today is when the crash has

actually started to begin, I have lost

nearly £500.

Now that might not seem a lot, but when

you've only got about £8,000 invested,

that's like nearly 10%.

And over the last month, Yeah, I've gone

from a total of £8,200, which was my peak,

the highest amount I had recently, down to

£7,600.

So I've lost over £1,000.

When you've only got £8,000 invested,

£1,000 is like 12% or over 10%.

10% would be £800, so £1,000 would be a

bit more than that.

So yeah, it's kind of scary.

And then if we look at my holdings, so as

you can see, my biggest holding is a gold

mining stock, and I thought that would do

a bit better if the market crashed, but

unfortunately it's crashing just as hard

as all of the other stocks.

It's down like 7% today, and because

that's my biggest holding, it's going to

drag down my entire portfolio value by a

massive amount.

And then I have China as well.

China's down nearly 20% for me.

It's doing really badly, but it was

already doing really badly.

It seems like it's doing even worse now

because everything's crashing.

And then I have quite a bit in Tesla,

which was doing really well because I

bought it around $140 and then $180, and

then I bought again at $215.

Now it's down to $186, and now I'm down by

like 3%, which isn't

too bad, but it's wiped out all of my

gains.

And I bought one share of Domino's Pizza.

That hasn't really changed much.

So as you can see, everything I have is

going down.

I thought gold would be like a defensive

stock and that could save me in case the

market crashes, but because it's not

actual physical gold, it's just a gold

mining stock which actually goes up and

down just with the rest of the market, it

didn't really help me.

And I thought China would help me because

it's like a separate country, a separate

economy, but you know, it's pretty linked

and connected to all the other economies,

and it's not really doing well anyway.

The only thing that would have saved me is

if I still had the inverse S&P 500, but

it's too late now.

It would be stupid to buy it back now that

it's already gone up or gone down so much

already.

So what am I going to do?

Am I just going to sell everything and

just quit the stock market and quit

investing?

I don't think so, because I don't think

this is like the end of the world.

It's just like a panic flash crash.

And I've managed to muster about £500 in

spare cash to be able to buy the dip.

So I'm waiting for the market to open

today on Monday.

I think there's going to be some massive

discounts on on some good stocks that are

going to be way oversold.

So when the market opens today in about

half an hour, I think, I think I'm going

to actually pick up a few more shares of

Tesla.

I think I have enough money to be able to

buy about 3 more shares of Tesla, and I

think I'm gonna wait for it to see if it

drops below $180 per share, then I'll pick

up a few shares because I still think the

market can rally to all-time new highs.

This is not the end of the world.

I think it's just like a little of an

overreaction.

Some people might be thinking, why don't

you just sell everything, give up, take

all the money you still have before you

lose all of it.

Well, that's what my mum keeps saying.

And I have thought about selling all my

stocks so I could do something else with

the money.

Like I could buy a car.

I have been thinking about getting a car

recently, maybe just buy an actual Tesla

instead of just buying Tesla stock.

And then I could at least use it to drive

around and I don't know, maybe do Amazon

delivery jobs and make money that way.

But I don't really want to.

I still feel pretty confident with the

market in that it's still going to go up

and gold's going to be good.

And I might actually just sell some

Chinese stocks and switch that out out for

something else like some Nvidia, or maybe

even buy the S&P 500 ETF since there's

going to be a juicy dip coming up today.

I do feel like I want to get out of the

market next year because I think next year

things are going to be even worse.

Like, the actual recession, the actual

effects of the recession in the market is

going to be truly felt next year.

And if the market does keep rallying this

year, well, it's going to crash like 50%

by the time it's next year.

So I would like to get out of the market

by next year and be completely out, have

no exposure to the markets apart from

defensive stocks like gold.

I definitely think that next year there's

going to be like a massive catastrophe.

The market is going to look terrible.

It's just going to crash like 50%.

It's going to be a complete disaster.

Every time that's happened, for example,

over the last 20 or 30 decades, gold has

always gone up.

And that includes the gold mining stocks.

Every time there's like a financial crisis

and the market's just crashing and

tanking, it's always gold that's making

new highs whilst the market makes new

lows.

So definitely want to start building more

and adding more to my gold position.

As for my Bitcoin, it is down about 21%,

but I only had about a couple hundred

pounds in there, so I'm down about £60

right now.

And it's okay because I've only been

buying Bitcoin for about a couple months,

and I've been buying it every day, about

£2 of Bitcoin every day.

So I've been slowly averaging into it, and

it's kind of part of my plan that I'm just

going to buy into it slowly until the end

of this year.

And I've already added to my Bitcoin.

I've bought about £50 worth today at

around $51,000, and I'm going to add more

if it drops further.

So I'm going to stick to my £2 a day but

also add in like a bigger lump sum of

around £50 if it keeps breaking down to

lower levels, because I do feel confident

that by the end of this year Bitcoin is

going to be really good and it's going to

be doing really well, especially in the

beginning of next year.

So yeah, a bit of a scary Monday, but I'm

not freaking out, I'm not panicking, I'm

not like selling everything and just

closing down my accounts.

I'm actually going to be buying the dip

today.

I'm going to be buying some good quality

blue chip stocks on a good discount to add

to my folio that I think will do pretty

well after this panic is over.

I really think if you don't buy this dip,

in a few months' time you're going to

regret it, because right now everyone's

panicking and thinking it's the end of the

world, but this stuff always passes.

And then a few months later you feel like,

oh my God, I should have bought when

everyone was panicking.

That's how it always goes.