westbranch
Well-known member
Headlines of everything millennials have killed.
Reddit WallStreetBets vs Wall Street hedge funds
- Thread starter ddcdevelopment
- Start date
Headlines of everything millennials have killed.
Irrelevant
Well-known member
Well the ones that are are retired. And the rest of us were in high school 20 years ago.... so what's your point?I concede that point for sure, but I view those as outliers. How many are doing so over a 20+ year span?
Also, anonymous people online are often times full of shit
Take my parents. They put 100k into Amzn in the early 2000s. They're comfortably retired now.
ignorethefringes
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- Sep 19, 2016
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- 3,061
I was crazy and got IN last Monday lol. But I'm thankful I had wits about me to pull out while in the green. Average cost was like $125 and sold at $310. It worked out really well for me, but talk about a nauseating roller coaster.i'm definitely not debating this point. i got out of the whole dealio last week. if you had the balls to get past initial volatility last monday (i did not) you should have sold at some point along that ride. i'm not a believer we'll be jumping over 300 a share again
holding now is silly. though, i'm retaining one share because why not, gotta keep things interesting, who knows, another frenzy may reignite
people gotta remember millennials like myself don't "invest" with much rationale in our hobby funds. well, at least, mine is only a side hobby fund, i won't speak for all millennials. i'm gambling based on what my gut tells me. i spend like 4 minute on average researching stocks and options i buy
ask me how upset i am today that i blew a chunk of change on ETH years ago?
Irrelevant
Well-known member
We didn't kill anything on that list that boomers didn't kill 30 years ago
westbranch
Well-known member
extremely nauseating lol. Tip of the hat to you.
I was average buy of right at 50, sold at average of like 115. Felt like I wussed out. But gosh, I seriously couldn’t stomach that volatility, and profit is profit at the end of the day
ignorethefringes
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- Sep 19, 2016
- Messages
- 3,061
What is crazy to me, is that I was able to sell some in the premarket on one day at $453/share. I wish I would have priced it at $425 that day and I could have sold out. This was the first time I really thought, "Am I comfortable losing all of this?" and realized I had bitten off a little more than I should have. From the time I bought at $110 to the time I sold at $310 it went as low as $75 and as high as about $500. That was over a four day period or so. I think the saddest thing now is that there are a lot of guys that bought in that $300 - $450 range who really think they're still going to get their big profits. I'll admit, when it was above $400 and I was looking at my profit it probably made me hold a little longer than I should have thinking of "What if?".
All in all, I'm glad I did it for two reasons: Obviously it worked out in my favor (this time), and I learned a lot about my own risk tolerances and vulnerabilities. I'm ok not being involved in one of those crazy situations again.
i was suprised at how much anxiety i had watching those swings, considering the money I used to buy the GME had been considered spent and gone from my budget for literally a few years (having bought crypto with it as a bachelor); I stood to lose nothing essentially as far as my finances were concerned. Then considering that at like 50 a share on average that I bought in, realistically if i stayed the course at worse i'd probably lose half of it - it's not like the shares would go to zero over the course of a week lol
So i also am glad I did it cause I also learned some lessons and took profit. Namely, my emotions can still quickly take over even when i fundamentally have so little to lose, gotta keep that in check sometimes
Part of me really wants there to be another one to jump in on soon though
MarvB
Well-known member
My hunting buddy (granted he’s a tad OCD) got a pretty lucrative and unexpected bonus at work a few years back. Gave half to the Mrs, said here’s your “fun money” and opened a E-Trade type account with his. Called me laughing and said he was gonna be a day-trader. Couple months later over a pint I asked him how it was going and he rolled his eyes and said he pulled his money and closed his account. Said he couldn’t leave anything alone, basically was checking it on every work break, staying up late at night planning his “strategy”, getting up an extra hour early to do the same while sucking down a pot of coffee. Told me the couple hundred bucks he came out ahead probably took two years off his life in anxiety! It’s not meant for everyone. I’m more the tortoise than the hare.....
SAJ-99
Well-known member
You bought it for a specific reason. You did your work and had a thesis. When the market goes apeshit in your favor, you have to reevaluate. Had you made 100% in 3 years based on your thesis, it would have been a great return. You made that in 2 weeks. Say "thank you market", walk away and don't worry about the "could have, would have, should have". Tried and true rules - have an entry strategy AND an exit strategy. Reevaluate, sure, but there is a fine line between being flexible and "thesis creep". I have seen many professionals who change the reason they bought it after it went up just to convince themselves to keep holding it.i was suprised at how much anxiety i had watching those swings, considering the money I used to buy the GME had been considered spent and gone from my budget for literally a few years (having bought crypto with it as a bachelor); I stood to lose nothing essentially as far as my finances were concerned. Then considering that at like 50 a share on average that I bought in, realistically if i stayed the course at worse i'd probably lose half of it - it's not like the shares would go to zero over the course of a week lol
So i also am glad I did it cause I also learned some lessons and took profit. Namely, my emotions can still quickly take over even when i fundamentally have so little to lose, gotta keep that in check sometimes
Part of me really wants there to be another one to jump in on soon though
Irrelevant
Well-known member
I got pretty bad at constantly checking it and have since set myself up for twice a day checks, that's it. That also limits the amount of risk I'll take on.
truly good advice
BigHornRam
Well-known member
These guys played it right.
www.businessinsider.in
A hedge fund made $700 million on its GameStop investment before bailing after Elon Musk's 'Gamestonk' tweet - Business Insider India
Senvest Management owned more than 5% of GameStop before the WallStreetBets rally. The hedge fund got out after Musk added fuel to the fire.
i'm gonna have to start setting some boundaries for myself. winter is the slow season for my job and that's part of the problem right now for me with spending too much time staring at tickers
44hunter45
Well-known member
I'd rather buy Steam
D
Deleted member 28227
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Every game I’ve played in the last 10 years came from steam.
redwoood
Well-known member
This is simple yet very good advice.
I have a habit of jumping into options without having a good exit strategy. I've been burned on more than one occasion when my profits came quickly and I didn't jump out as I should have. The thing is I know better, but "what if."
I'm telling myself from now on I'll get my percentage and get out...we'll see how that goes.
SAJ-99
Well-known member
Good point. Knowing when to get out is the toughest part. I tend to exit too early, but I guess that is better than too late
. Couple of things you can do is adjust the trailing stop-loss order. This is easier with stocks than options, but it means you NEVER sell at the top and always end up giving back some of those gains. Options have an added measure of difficulty in needing to get both the direction/event and timing right. The "general" rule on options is if the price goes down by 50% you cut and run. If the price goes up by 100% you either get out or sell half and play with house money.Similar threads
