You're not cut out for this, just dump everything into VTSAX and focus on other things.
You were day trading?
Only for a short while but most of the losses were not day trade
Let me guess, you traded options? Or speculated on margin?
Toss your money into blue chips and index and stop looking at it. 550k is still a lot of money to compound in at your age. Learn your lesson like everyone else did. Also you don’t need to hit a certain NW enjoy life and help you family. 550k is plenty
It not at all https://mkorostoff.github.io/1-pixel-wealth/
It’s plenty to enjoy life with at 25. Actually blow some money sometimes instead of trying to increase that number on your phone screen
I like to remind, folks pls understand the subtle difference between gambling and investing or else such experiences are inevitable, discipline is the key for long term gain !
I salute you 🥂
How did you loose so much, if you have been in the market > 18m? For anyone who entered in 2021 - it’s red mostly. But for anyone who has been buying since 2020 - it should be green or at least neutral. Btw - everything I have bought this year is in red. And I do DCA as well as diversify in only quality tech stocks.
Which tech ones, if I can ask?
I bought NOW, CRM, SQ, PINS, SNAP, FB, TWTR - overall it’s red.
Don’t let the quick money devalues the hard working. Otherwise your mentality is no different than gamblers’
Oof 🤦♂️ How the hell did you manage this?
This is all part of the game, and you need to have perspective. I myself am down over $500k - but the key is it isn’t realized losses, I still own the shares in those companies. It seems like you were “investing” and not “gambling” - if so, those companies are still doing business - and just bc their stock price is lower today than 3 months ago doesn’t mean their prospects as a business have changed. If the thesis hasn’t changed, and you have a long time horizon, you’ll be fine. (Assuming these are good businesses and not speculative investments, ie SPACs, meme stocks, pre rev companies) Charlie Munger BBC Interview During the Financial Crisis “If You Can't Stomach 50% Declines in Your Investment You Will Get the Mediocre Returns You Deserve This is the game you’ve chosen to play. The rules havent chanded, you chose to ignore them.
I think DCA is not realistic for me as I get windfalls. I invested 2% in BTC and 20% in ARKW in Dec 2017. Both dipped. In Sept 2018 markets dipped 20% shortly after I invested a lump sum. I started recovering only to dip again in March 2020. I held through and bought the dip some more. The money invested pretty much increases each year because savings increases and the risk I took increases as well but slightly . I invested heavily in biotech in Feb of 2020. If you look it’s down 30%. Think I have just been unlucky with timing. The real returns going forward for millennials are not going to be as good as the last decade.
Any good biotech company looks promising?
12k a month is so mediocre
I mean it’s not going to dramatically change your life is it?
No because money doesn’t mean shit past a certain point.