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I appreciate how the author captures the mindset involved in this kind of trading. I would cash out if I had 6,000% gains, but that same mindset is what prevent
by npilk 5y ago
I appreciate how the author captures the mindset involved in this kind of trading. I would cash out if I had 6,000% gains, but that same mindset is what prevents me from getting 6,000% gains in the first place, because I’d never go all-in on a risky trade.
Then again, that mindset also prevents me from losing all my money.
- ljm 5y agoI sometimes wonder, "what if I put that money I had lying around into crypto or GME," then I realise pretty much the same as you. Not only am I late to the game, I just don't have the same relationship with money that these people do. I'm cool with that.
- redisman 5y agoI had that phase but luckily I was a poor teenager. So I would spend my $50-$1000 I could scrape together per month from odd jobs and allowance on scratch tickets, online gambling, etc. Getting my first real salary made me realize how dumb it was as a way to “make money”
- newhotelowner 5y agoI have been holding NFLX & TSLA for the last 10 years. Every time, the stocks reached all time high, i became greedy and changed my target date to sell. Now NFLX is down crazily and waiting for TSLA to split again. 10000% gains and I will sell it.
- lampington 5y agoIf a stock I own ever doubles, I sell half and put the proceeds into an index tracker. Knowing that I've got the money back and it's (relatively) safe makes it much easier for me to be rational about how I treat the remainder. Obviously that might just be my own mindset...