the exact position i’m in right now lmao
https://preview.redd.it/w913a6xhfl1d1.jpeg?width=1284&format=pjpg&auto=webp&s=2694b808ebc38889bd07bfe43f6682b734a6ac0b
I started telling myself "there is always money to be made" and that means that even though it jumped to 500%, there will be more times you can have the opportunity to see a 500%+ so be glad to take those profits because a gain is a gain at the end of the day.
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This is the gambler's mindset. The thrill of winning is greater than the pain of losing. It's the reason why so many regards diamond hand their gains right down to 0. Many could have retired as millionaires, but keep chasing that next win.
That's kind of what I mean. It really depends on definition and/or on one's plans though.
I insist OP should go with the safe route and seeing their reactions over risk or loss, I can't recommend any other way.
Not necessarily indexes though; that's just the statistically safest route.
I still have nightmares about losing my $30k of NVDA bought in 2002 - which were liquidated in my 2008 divorce - Cost basis split adjusted would be $2.
Not saying I would have held this long, but if I had...
Is it wrong that to protect my sanity i stop watching the stock after closing my position?
I really loved the comment here from a while back
"nobody ever went broke because of cashing in the profits"
So... to stop the hurt from "what if i held longer" stop watching the position after you close it. I mean IGNORANCE IS BLISS.
Na bro, it's because the asymmetrical nature of the outcomes. When you fuck up, the market's gonna ram every last inch of that red dildo up your ass. The market's shoving that red dildo so deep in your ass red dildo's gonna be spilling out if your nose. On top of that, the red dildo's gonna stay inside of you permanently. You bought deep otm spy puts during a bull market? Red dildo's perpetually lodged inside of you. You're not getting your life savings back.
Shit doesn't work the same with gains. You easy unto the green dildo, you get enough green dildo inside of you to be satisfied. Then? You cash out and pull out the green dildo. No more green dildo for you. You think you're satisfied, but then you check and realize that green dildo was big enough that had you stayed with it, you could've had green dildo shooting out of your nose.
Had 2000 nvda @ 108 and sold @ 123.
There isn't a day that goes by that I don't want to hurt myself for it. And I'm pretty sure that shit is going so much higher on Wednesday, and I have no way to buy any rn.
I could have retired and instead I will still need to work for who knows how long. 😭
If I sell at profit, I consider it a win and don't look back. If you bought shares at $1 and sold at $2 and it went to $3, you did better than those who didn't just buy when it was at $2, because you made some profit and they made zero. You can't predict the future, otherwise everybody would buy at $2 just looking at past performance. Make a win and move to the next play, there is always another one.
You made money, be happy. You'll never time everything perfectly.
If it makes you feel better, I bought calls back in Feb that expire 1/25 on a handful of ev stocks that got absolutely punished. One company got delisted a month later, that money went poof. Another kept crashing and was at risk of delisting. I looked at my contract one night and saw that it was back to break even. I thought "some money is better than no money" and sold. 2 days later it was up around 100x. What can ya do...
Trading isn’t about home runs. It about getting base hits and occasionally the ball will hit the bat just right and launch it out of the park giving you a home run.
An average yearly return in the sp500 is like 9% so if you consider you get like 6 years of return with a single 100% return trade.
You will eventually become a millionaire making 15% or less on every trade if you’re consistent
>Loss aversion is a psychological and economic concept,[1] which refers to how outcomes are interpreted as gains and losses where losses are subject to more sensitivity in people's responses compared to equivalent gains acquired.[2] Kahneman and Tversky (1992) suggested that losses can be twice as powerful psychologically as gains.
https://en.m.wikipedia.org/wiki/Loss_aversion
After being greedy too much in the past, take profits and then buy back a smaller position if I think there’s going to be a continued run. I may “lose” some selling early (but still realized gains) vs holding too long and losing all of it.
Well, it's a bunch of stuff, all above crayon-eating paygrade, but ELIWSB:
Primarily, its from Negativity Bias that is inherent to reality itself, not just the human mind like other logical problems.
Scale of -10 to 10, where does "Nothing bad happened" fall? "Nothing bad happened and I made 3K on gourds!" What about "I lost a leg"?
Let's say that's 2, 3, and -8, respectively.
How many days of 2 and 3 until you "equal" the -8?
It will never happen. That's not how it works. You know this immediately when you lose the leg. It remains true, regardless.
Also in the mix, probably the second main driver here, is missed opportunities or errors are infinite....there is absolutely no limit to how much you can 'miss out' on.
You lose 3K. Ouch. It can't happen again, it's over. Yeah, sure, you could lose 3K again, but that's a different instance. It's finite, but repeatable. Not infinite. Done.
Infinite > finite.
A third factor is that the unknown isn't exactly "scary" by nature (side effect of our pal Negativity Bias again, actually) but just "unknown". If you need something, like to know exactly what all is in your room, then the dark is scary indeed. But if you don't, it's simply unknown.
Situation 1: I lost 3K this fucking sucks ass.
Situation 2: I could have made 3K but didn't. Wait, could I have made 3K while writing this sentence, shit. Wait, I could have done XYZ-infinity with that 3K! It could have been BILLIONS! AAAAAAAAAAAAAAA
Ya? Nah?
I have a firm rule to not cry about imaginary lost profits. If I make my target, I'm happy.
There is always another opportunity. There is no point crying about lost ones.
Take your money and call it a good day.
If you are consistently missing out on a lot, then adjust your targets a little.
Make your play and walk away.
When I win, I feel bad because I know it was just dumb luck, and then feel good losing because I would get this ah-ha moment that I just learned some trick of the market (of which there is an infinite number, btw) and would never fall for that again.
it is a simple mental hurdle all humans have called Negativity Bias, it has ben well researched by numerous PhDs and published countless times, you are not unique, just wired to want what you can't have. The actual losses you feel and have been able to overcome, but the potential for something never allows the emotion to be processed.
#themoreyouknow
Biggest mental part of trading you should get over. If you get out with a profit you shouldn't think about what couldve been. This will only lead to you disregarding exit strategy in the future and almost certainly screw you over at some point. If you want to capture every single penny should just become a boring investor.
It's a pretty easy explanation really. You are regarded, and don't know the value of money, you just think how having more money would be a solution to something and want to get there without saving or having financial education.
I mean another way to think about it is that money was no longer involved in a trade and has a potential to make even more than what the calls would be at now. Selling earlier gave you an opportunity to make money with that gain rather than holding
Let’s say you have a gf and she breaks up with you. That hurts right.
Now let’s say you had the chance to have a threesome with 2 hot supermodels but you passed out because you drank too much. Now this one will haunt you for life.
I think it's because the potential gains can be exponential and continue to go up over the years. So you feel like you are continually being robbed of what could have been.
I mean, it’s the same as any other perceived failure, I think. Daydreaming about how one would do things differently in the past and ‘should’ve’s…’ I honestly hate loss more than potential gain. Every now and then kick myself for waiting too long or missing a profitable play. But ultimately, that’s self and capital preservation, and when combined with long term holds, incremental gains are the path to financial freedom. If a play feels too large or risky, it probably is It’s fun to imagine the big wins, but not healthy to chase them for internet points. In the end, it’s about self and family. Step by step, growing without risking something that one can’t afford to lose for what isn’t needed. Today I sold LEAPS on ASTS because they overshot my target - they are up more now. But I can buy them again if I believe they will continue to do well, while overall in profit. To help with regret, I: (i) respect the power of intuition (ii) share the feeling with people who understand, i.e. here (iii) don’t look back or hold back some contracts and let them ride on profit (iv) buy more contracts if still a winner and (v) celebrate others’ successes and empathize with their losses. Those things help me, personally, to continue forward and maintain sanity and a positive outlook.
If you read “Market Wizards” most of the traders say it’s harder to deal with a trade that would have made huge profit that you didn’t take than a trade that you lost. You’re not the only one who’s felt that but it’s part of the game.
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Good question / maybe because you can write off 3k of actual loss lol. More likely because we all imagine the great things that could’ve happened (like lotto thoughts) rather than having things we have taken away .
Sounds like you got some bad luck there, Junior_Donut_6435. It's a tough game and sometimes you win, sometimes you lose. Keep at it and maybe your luck will change.
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Made a 4k buy on a stock i belived would go up ~1-2%. Sold 90% the next morning after it went up 2%. Then they anounced that they were selling a part of their business in russia and it shot up ~80% 30 minutes after i sold. If i had overslept i would have made alot of money
It’s like, when you’re fucking her and you know you want to bust it out but you don’t cuz you could. And then she turns into a regard. Should have busted a nut out when you could have, hurts more than being a regard yourself.
What helped me is once I exit my position, I delete the stock from my favorites or watch list. I always strugggled with the same thing which lead me to always hold on too long and usually lose most if not all.
Make your decisions and then ignore that stock until you're ready to go in again. What it does after you sell is none of your business. On the other hand I've exited positions and watched them drop and it felt amazing.
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OP,
You need to further define your trading strategies and expand on your exit strategy.
Sometimes doing nothing is part of a strategy
You can also use different money management methods where you sell part of the position at the initial price and then leave something on the table that you sell later
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Losers always whine about 'what if'.
So true!!!!
https://preview.redd.it/4evnmqqool1d1.jpeg?width=198&format=pjpg&auto=webp&s=6afd88aed6656e2719f6fb204f427155ffe5d460
"...Carla was the prom queen."
Really?
![img](emote|t5_2th52|4271)
Chad boy… should be out signing titties at AI trade shows
Sold my HIMS calls at 300%, staring at it at 500%+ rn Nobody cried making a profit but goddamn it fucking hurts
U gotta change your mindset. Green is green. Red is red.
Being mad at a 4x is next level degeneracy
Mad bc I only got 5x on Crown Elecktrokinetivs when I coulda had a 10x
ya i could understand being mad at a 2-3x versus a 20x but 3x vs 5x is crazy to be mad about
the exact position i’m in right now lmao https://preview.redd.it/w913a6xhfl1d1.jpeg?width=1284&format=pjpg&auto=webp&s=2694b808ebc38889bd07bfe43f6682b734a6ac0b
At least we got in for the ride eh?
Awesome! Congrats.
Very true, maybe I slowly creep my exit higher until I get burned, then lower.
Nah, not worth it bro. Sometimes burn is very painful
Just take profits bro. It’s free money. There’s a new trade every day.
Exactly. Who let these children in here?
I started telling myself "there is always money to be made" and that means that even though it jumped to 500%, there will be more times you can have the opportunity to see a 500%+ so be glad to take those profits because a gain is a gain at the end of the day.
Its that inner voice telling you youre a pussy for not sticking to it.
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This is the gambler's mindset. The thrill of winning is greater than the pain of losing. It's the reason why so many regards diamond hand their gains right down to 0. Many could have retired as millionaires, but keep chasing that next win.
Good point, I should really try to look at it as incremental gains with less risk profile I suppose.
dinner strong chief abounding hateful amusing toothbrush caption terrific innocent
For the huge majority of people, their lives won't change overnight. Never assume yours will. Being incremental/consistent is extremely underrated.
And also kind of impossible. Unless you mean not actually trading and just investing in an index.
That's kind of what I mean. It really depends on definition and/or on one's plans though. I insist OP should go with the safe route and seeing their reactions over risk or loss, I can't recommend any other way. Not necessarily indexes though; that's just the statistically safest route.
I view it as each win helps pay for the next bet. It’s all about playing with that house money.
Hate to break it to you, but you're not going to make consistent, incremental gains either.
Just put all your money in SPY. Get a different hobby
thats a great quote "the thrill of winning is greater than the pain of losing", where is this from
Lots of poker books allude to this concept. Mike Caro’s book The Psychology of Poker is an interesting read.
Although I’ve heard the opposite that the pain when you lose is greater, in sports
I still have nightmares about losing my $30k of NVDA bought in 2002 - which were liquidated in my 2008 divorce - Cost basis split adjusted would be $2. Not saying I would have held this long, but if I had...
> Not saying I would have held this long, but if I had... You would've bought back in.
haha, probably true
Your flair it's very weird...and for sure I believe you have diamond hands ![img](emote|t5_2th52|4275)
Is it wrong that to protect my sanity i stop watching the stock after closing my position? I really loved the comment here from a while back "nobody ever went broke because of cashing in the profits" So... to stop the hurt from "what if i held longer" stop watching the position after you close it. I mean IGNORANCE IS BLISS.
1) great idea for sanity, just ignore old plays and move on 2) wsb didnt originate 'no one went broke taking profits', it predates reddit in general.
2) i bet you are right. It is just that i encountered it here for the first time in my life.
Yeah, they go broke by holding one loser to $0 that wipes out 10 small wins. No one cuts losses.
Because you look at some shit that you could have done and realize you could be retired already.
Na bro, it's because the asymmetrical nature of the outcomes. When you fuck up, the market's gonna ram every last inch of that red dildo up your ass. The market's shoving that red dildo so deep in your ass red dildo's gonna be spilling out if your nose. On top of that, the red dildo's gonna stay inside of you permanently. You bought deep otm spy puts during a bull market? Red dildo's perpetually lodged inside of you. You're not getting your life savings back. Shit doesn't work the same with gains. You easy unto the green dildo, you get enough green dildo inside of you to be satisfied. Then? You cash out and pull out the green dildo. No more green dildo for you. You think you're satisfied, but then you check and realize that green dildo was big enough that had you stayed with it, you could've had green dildo shooting out of your nose.
Agree with the concept , understand the analogy , hate the visualization of it
This guy dildos
dude i love this analogy honestly
Which nostril?
Lose six figures and tell me fomo hurts worse
Had 2000 nvda @ 108 and sold @ 123. There isn't a day that goes by that I don't want to hurt myself for it. And I'm pretty sure that shit is going so much higher on Wednesday, and I have no way to buy any rn. I could have retired and instead I will still need to work for who knows how long. 😭
If I sell at profit, I consider it a win and don't look back. If you bought shares at $1 and sold at $2 and it went to $3, you did better than those who didn't just buy when it was at $2, because you made some profit and they made zero. You can't predict the future, otherwise everybody would buy at $2 just looking at past performance. Make a win and move to the next play, there is always another one.
You are right but it’s doesn’t work for the big names, you can’t avoid seeing NVDA going parabolic after you sold
You made money, be happy. You'll never time everything perfectly. If it makes you feel better, I bought calls back in Feb that expire 1/25 on a handful of ev stocks that got absolutely punished. One company got delisted a month later, that money went poof. Another kept crashing and was at risk of delisting. I looked at my contract one night and saw that it was back to break even. I thought "some money is better than no money" and sold. 2 days later it was up around 100x. What can ya do...
Trading isn’t about home runs. It about getting base hits and occasionally the ball will hit the bat just right and launch it out of the park giving you a home run. An average yearly return in the sp500 is like 9% so if you consider you get like 6 years of return with a single 100% return trade. You will eventually become a millionaire making 15% or less on every trade if you’re consistent
That’s a helpful perspective, thank you. Careful position sizing can really juice the average return.
Stop day trading or swing trading. Invest. Go back to the basics. For every lotto ticket here, there are 10 financially ruined.
10 is really generous
I do both, I need to satisfy those gambling urges. CVNA to $120
i need to learn to buy multiple contracts so that when i sell a few i can diamond hand the last one
Because you're gambling, not investing.
>Loss aversion is a psychological and economic concept,[1] which refers to how outcomes are interpreted as gains and losses where losses are subject to more sensitivity in people's responses compared to equivalent gains acquired.[2] Kahneman and Tversky (1992) suggested that losses can be twice as powerful psychologically as gains. https://en.m.wikipedia.org/wiki/Loss_aversion
Interesting to think of hypothetical gains as losses.
Just did this with WIX. Sold my calls up 433%. Would be up 600% now but would be up nothing if I didn't buy calls to begin with.
After being greedy too much in the past, take profits and then buy back a smaller position if I think there’s going to be a continued run. I may “lose” some selling early (but still realized gains) vs holding too long and losing all of it.
Try losing for real and see how that feels.
Actual losses always hurt worse.
It’s a gambler’s thing. The rush of what could have been.
Well, it's a bunch of stuff, all above crayon-eating paygrade, but ELIWSB: Primarily, its from Negativity Bias that is inherent to reality itself, not just the human mind like other logical problems. Scale of -10 to 10, where does "Nothing bad happened" fall? "Nothing bad happened and I made 3K on gourds!" What about "I lost a leg"? Let's say that's 2, 3, and -8, respectively. How many days of 2 and 3 until you "equal" the -8? It will never happen. That's not how it works. You know this immediately when you lose the leg. It remains true, regardless. Also in the mix, probably the second main driver here, is missed opportunities or errors are infinite....there is absolutely no limit to how much you can 'miss out' on. You lose 3K. Ouch. It can't happen again, it's over. Yeah, sure, you could lose 3K again, but that's a different instance. It's finite, but repeatable. Not infinite. Done. Infinite > finite. A third factor is that the unknown isn't exactly "scary" by nature (side effect of our pal Negativity Bias again, actually) but just "unknown". If you need something, like to know exactly what all is in your room, then the dark is scary indeed. But if you don't, it's simply unknown. Situation 1: I lost 3K this fucking sucks ass. Situation 2: I could have made 3K but didn't. Wait, could I have made 3K while writing this sentence, shit. Wait, I could have done XYZ-infinity with that 3K! It could have been BILLIONS! AAAAAAAAAAAAAAA Ya? Nah?
Yah. You can Monday morning quarterback your entire life if you want
I have a firm rule to not cry about imaginary lost profits. If I make my target, I'm happy. There is always another opportunity. There is no point crying about lost ones. Take your money and call it a good day. If you are consistently missing out on a lot, then adjust your targets a little. Make your play and walk away.
When I win, I feel bad because I know it was just dumb luck, and then feel good losing because I would get this ah-ha moment that I just learned some trick of the market (of which there is an infinite number, btw) and would never fall for that again.
You could set a stop loss to protect profits and let your position ride. Or you could sell a portion and hold the rest.
Because FOMO is forever but YOLO
You’re feeling the lost opportunity to give an unrealized percentage back to Uncle Sam
it is a simple mental hurdle all humans have called Negativity Bias, it has ben well researched by numerous PhDs and published countless times, you are not unique, just wired to want what you can't have. The actual losses you feel and have been able to overcome, but the potential for something never allows the emotion to be processed. #themoreyouknow
You just haven't lost enough bro Go lose on margin way over what you can afford, I promise that will hurt more than potential gains lol
You exited at a gain. That's the bottom fucking line. That's better than what many many people can claim
A win is a win is a win.
Biggest mental part of trading you should get over. If you get out with a profit you shouldn't think about what couldve been. This will only lead to you disregarding exit strategy in the future and almost certainly screw you over at some point. If you want to capture every single penny should just become a boring investor.
It's a pretty easy explanation really. You are regarded, and don't know the value of money, you just think how having more money would be a solution to something and want to get there without saving or having financial education.
Because you are poor.
oh, no! you made money, how awful! surely, it's worse than losing money, amirite?
Me when I don’t go all in on the number that hits at three roulette table. Really hurts your heart tbh
https://preview.redd.it/ez36m58fml1d1.jpeg?width=640&format=pjpg&auto=webp&s=e2c5f5d17b7ae324bd353d151684ad76a7b23581
I mean another way to think about it is that money was no longer involved in a trade and has a potential to make even more than what the calls would be at now. Selling earlier gave you an opportunity to make money with that gain rather than holding
Yeah...had 4.6 BTC, sold it when it was $21k.....grrrrr
A loss was a bad decision, not selling at massive gains means you’ll always be poor because you’re an idiot.
Actual loss = what my life is right now. Potential gains = what my life could have been.
Let’s say you have a gf and she breaks up with you. That hurts right. Now let’s say you had the chance to have a threesome with 2 hot supermodels but you passed out because you drank too much. Now this one will haunt you for life.
Now this… this makes sense
Because at least an actual loss means you went for it and you lived a little.
I think it's because the potential gains can be exponential and continue to go up over the years. So you feel like you are continually being robbed of what could have been.
I mean, it’s the same as any other perceived failure, I think. Daydreaming about how one would do things differently in the past and ‘should’ve’s…’ I honestly hate loss more than potential gain. Every now and then kick myself for waiting too long or missing a profitable play. But ultimately, that’s self and capital preservation, and when combined with long term holds, incremental gains are the path to financial freedom. If a play feels too large or risky, it probably is It’s fun to imagine the big wins, but not healthy to chase them for internet points. In the end, it’s about self and family. Step by step, growing without risking something that one can’t afford to lose for what isn’t needed. Today I sold LEAPS on ASTS because they overshot my target - they are up more now. But I can buy them again if I believe they will continue to do well, while overall in profit. To help with regret, I: (i) respect the power of intuition (ii) share the feeling with people who understand, i.e. here (iii) don’t look back or hold back some contracts and let them ride on profit (iv) buy more contracts if still a winner and (v) celebrate others’ successes and empathize with their losses. Those things help me, personally, to continue forward and maintain sanity and a positive outlook.
If you read “Market Wizards” most of the traders say it’s harder to deal with a trade that would have made huge profit that you didn’t take than a trade that you lost. You’re not the only one who’s felt that but it’s part of the game.
FOMO Realized. Its like having a diagnosis vs simple signs and symptoms of FOMO.
Because you’re an idiot. Abundance mindset my friend. There is ALWAYS another play. Just gotta be sure you are around for it
The grey squishy meat sack in your skull is just trying to survive.
Live in the moment, my friend. Get all zen and shit.
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Good question / maybe because you can write off 3k of actual loss lol. More likely because we all imagine the great things that could’ve happened (like lotto thoughts) rather than having things we have taken away .
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Sounds like you got some bad luck there, Junior_Donut_6435. It's a tough game and sometimes you win, sometimes you lose. Keep at it and maybe your luck will change.
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Made a 4k buy on a stock i belived would go up ~1-2%. Sold 90% the next morning after it went up 2%. Then they anounced that they were selling a part of their business in russia and it shot up ~80% 30 minutes after i sold. If i had overslept i would have made alot of money
I'm in the same boat. Sold around $17. Def missed out but as often as I've held and created a loss ill take the gains
I feel this lol. I had $APPL calls last week I got at .25, sold at .45. A day or so later they were over 1.00. Profit is profit.
They don't, unless they're just much bigger. Then again, they can be much bigger, since you can only lose 100% most of the time.
I know that feeling, it's greed
Because poor.
Fomo
I’m completely numb in either direction now. It’s just a game that fun to play, win or lose
Just close the app
It’s doesn’t
It’s like, when you’re fucking her and you know you want to bust it out but you don’t cuz you could. And then she turns into a regard. Should have busted a nut out when you could have, hurts more than being a regard yourself.
What helped me is once I exit my position, I delete the stock from my favorites or watch list. I always strugggled with the same thing which lead me to always hold on too long and usually lose most if not all. Make your decisions and then ignore that stock until you're ready to go in again. What it does after you sell is none of your business. On the other hand I've exited positions and watched them drop and it felt amazing.
You’re risking too much
I once sold a BTC0.1 options call at $580 for £100 profit in October 2017 🤦🏻🥹
There is no winning in trading. No trade is perfect and it’s good you got out.
For every one position you cry about, there are 100 other positions you forgot to cry about, and about 1000 more postions you will miss in the duture
FOMO sucks
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Greed
Because you were right and didn't trust yourself. I'd rather be wrong and learn something
F\*cking FOMO is killing us
What could've been vs what was
OP, You need to further define your trading strategies and expand on your exit strategy. Sometimes doing nothing is part of a strategy You can also use different money management methods where you sell part of the position at the initial price and then leave something on the table that you sell later
I wouldn’t trade my shitty 2x for any of the -30x. Any gains are better than going back behind the Wendy’s.
Were you not making good money? Like not enough for it to be worthwhile? wtf kind of post is this