I love my dad but holy fuck is he an idiot sometimes. I'm managing like $3000 worth of stocks for him
>Start trading last year, help set a portfolio up for him
>Wants to put $500 into HTZ because they're in bankruptcy, but I caution against it because diversity is better
>Set up a nice package of JETS, PPA, UNG, USO, a number of ETFs that has the same goal as what he wants - something that will rise as the economy recovers, with the rest of the money going back into it
>Using a TFSA account, so when it got processed, it dropped to HTZGQ on the OTC boards and therefore ineligible to be in that sort of trading account so I had it liquidate it, ended up eating a $10 loss
>If he had gone all in it would have been like $150 losses, meanwhile all the ETFs were up like 20-40% across the board, great
Fast forward a few months
>Starts getting really into it, reads shitty articles and wants to keep buying stuff after it pops 8, 10, 12% and an article mentions it and every single time it retraces and he loses money
>Ended up being over $600 in the red with KODK across 60 shares (bought in 30x at $13, told him to buy another 30 when it hit $10 to push his average down)
>Hits $6.20 and I get "Ohhh anon I don't like how well it's doing I want to sell half of them and buy BLDP instead"
>Have a 30 minute conversation about why it's a bad idea but okay whatever it's your money
>Literally a week later KODK pops off and recovers to $9, if he had listened to me and kept cash to buy more and not fucking sold it, he would have exited it with a mild profit instead of being deep red
>BLPD bought at $25 and he'd have to have it hit $35 (fucking yeah right) to break even on his bad KODK trade
AND THEN TODAY
>"Oh anon I thought about what you said about having too many different things in my portfolio I want to sell half of them"
>Plans to dump GE, H.TO, XLC and 20 KODK to buy more shares of X, which he shouldn't have done in the first place (1 share was $26, so again he'd need it to go to $36 to cover fees and expenses)
>Explain to him that because of the $10 transaction fees, he's going to eat $60 in losses, on top of the $50 or so that he lost in KODK and he basically won't make his money back on the next thing he puts it into
>"Ohh the stock gods are with me on this one, I can feel it!"
>Proceeds to also tell me that "even though they made money, they didn't make enough money"
He's got about $2000 in crypto, down about 30-40%, and because he keeps moving his stocks around and picking individual ones, his $3000 there is probably at a 10% gain or worse (strictly on ETFs, he was up 22-25%, and down about 8-10% on individual equities). It's his money and I'm just facilitating trades for him, but he keeps making genuinely bad decisions and I feel bad because my mom says he shouldn't be buying any more, but he does.