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For every 1 retail investor you hear talking about how they made a million dollars on lucky trade, there are 10 people who lost just as much without publicizing
by cj 6y ago
For every 1 retail investor you hear talking about how they made a million dollars on lucky trade, there are 10 people who lost just as much without publicizing it, and there are 1000 people who made a lot of money simply buying and holding "boring" index funds for long periods of time.
- ericmcer 6y agoI always think of this whenever a friend says they are trying day trading. A couple weeks later I will wonder how it went and realize it must have gone bad, because they would tell me if it went well lol.
- filoleg 6y ago>there are 10 people who lost just as much without publicizing it Ironically enough, that's why I like the spirit of WSB, because people readily post insane losses and celebrate them just as much as they celebrate wins (tagged under "loss porn" iirc). Discovering it years ago was what, imo, gave me a solid mindset when it comes to losses incurred by trading. I don't think that seeing only crazy wins without any crazy losses would have set me on the right track or allowed me to keep my mindset healthy. The fact that people there treat crazy losses just as normal and worthy of positive attention as crazy wins is imo the biggest gem and differentiator in the whole thing.