**I am putting myself out there as I share this. Even though I may be embarrassed by it, I know that the experience being shared is not one I alone tell. I hope this #HelpsSomeone to realize they aren't alone or the only ones to have it happen. Sharing our hard experiences can help others through their hard times.**
Here is, the ugly part that will show you my vulnerable side, the painful lessons I learned, my start to investing, and the cost of some of these lessons:
• Where was I going to start? I didn't know which online brokerage to use. After looking up a few and reading their features on their homepages, I couldn't find one that really stuck out to me. I had a lot to learn, so I figured the more features, the better. Learning centers and resources were attractive as well. I opened an account on Robinhood, SoFi, Fidelity, and AmeriTrade. Each one had features I like that the others don't offer. I stumbled on an ad for Public because of a Michael Bolton ad that came on after I had looked up one of his comedic songs. After watching the ad, I looked up what they said they offered and thought it I should try it too.
==> I thought the social aspect was a cool feature, but that I really wouldn't use it. (Ummm...wrong.😂)
•• I used each brokerage for different types of companies and based on their unique features. One has greatly detailed charts, one allows you to buy slices/fractional shares of stock during market hours as well as before and after market hours, one allows me to sell slices/fractional shares after hours, one has a very easy to see live moving chart that doesn't require constant refreshing to see the changes in price, one allows you to see the percentage changes when you look at the time breakdown in the chart (5yr, 3yr, 1yr, 5mo, 3mo, 1mo, 1wk, 5days, 3days, 1day). As I have been learning and exploring, each one of these features has proven helpful to me.
••• I had to learn to mentally prep exit strategies and decide that there had to be a place to cut my losses. In this game, money can be made but there is money that will be lost because you cannot control the market, are not psychic, and are not Doctor Strange. I had to learn how easily FOMO can take over, causing regret, and even poor decisions. I had to understand the real influence the meme stock and redditer-type movements had. I had to learn how to be able to check on my stocks daily in a way that didn't cause my anxiety to skyrocket.
••• Unfortunately, that led to some expensive lessons that have left some of the stocks that I endured very heavy losses in, to sink with the red anchor in the red seas of loss. These are still at the bottom of the holdings lists in my brokerages.
•••• One brokerage in particular holds the vast majority of these sunken red stocks. I am listing some losses even though I would rather not admit to losing so much or showing where I failed miserably. If it can make even one other person feel better, realize that learning to 'play the stock market' can have real and felt negative results for anyone coming in as a novice, or feeling embarrassed or angry because of it isn't their predicament alone.
^^^ SXTC....-96.61%
^^^ SPCE....-82.61%
^^^ CMGR...-99.81%
^^^ XFCI......-98.81%
^^^ SNDL....-86.89%
^^^ ZOM......-84.16%
^^^ RIVN......-56.65%
^^^ SFTBY....-55.29%
^^^ SAVA.....-50.89%
^^^ GOEV.....-50.65%
^^^ MELI......-45.25%
^^^ UEC.......-38.21%
^^^ LRCX......-21.29%
In this brokerage, I only own 4 more stocks. Those are in the positive with a current combined 'gain' of less than $2.00; yep, you read that correctly, two dollars. If I were to liquidate all my holdings in this brokerage, I would lose $4,208.71, but only make $1.58. My losses since starting have been more, as have my gains. I made some good trades that offset some of the other losses, maybe about $1,500 worth. I have a long way to go trading well enough before I could liquidate in a position to 'break even' in the end. However, I have learned enough to be doing better with my standing in the other brokerages.
This isn't a happy tune I sing or story I tell. That doesn't mean it is a bad one either. Rather, it is a tale of courage, being proactive, overcoming obstacles and setbacks, and hopefully in the end, of overcoming, adapting, and finding some level of success. I started investing for a reason and goal. I will have at least tried and I will have gained knowledge and skills.
I am NOT giving up. I am determined to trade well enough to hit that breaking even point, then crossing the threshold of seeing overall gains. Beyond sharing this struggle and showing the scrapes, cuts, and bruises from having fallen off my bike, I want everyone to know that I am cleaning off, dressing the wounds, doing my bike maintenance, and getting back on. I want all who read this to understand that this is a story of hope, of strength, and of endurance.
#share #YouAreNotAlone #TheHardRoad #GetBackUp #encouragement #hope #strength
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@ctsshah I hear ya! We have to remind each other that it will be alright and to stay strong. It is also important to remind each other that it is alright if we make some choices that may not have had the desired results. We are all human and imperfect. How boring would it be if we were all perfect? We need to see each other, uplift one another, and encourage each other.
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Addie@AEinvest
If you invest in a company let’s say 50$ example and they keep decreasing your amount until it gets to 0. Would you have to put more money if you want the stock to stay afloat for long term or does it just go back up automatically when it goes up
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@LadyOfTheTrade it's been a brutal 3 months for me. But I am here for the long term.
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Enzo@enzo
Thank you for sharing your experience, @LadyOfTheTrade , and congrats on not giving up - I'm sure you'll be able offset your losses at some point! Keep it up!
I'm also down bad on a lot of my positions - I'm losing on pretty much everything except Bitcoin, Ethereum, broad market ETFs and a few individual stocks. I've been reevaluating my portfolio and cutting some losses to consolidate into fewer…See more
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Daniel whatley@HANIBALLECTOR
@AEinvest once it' hits zero. That is where it stays. It's best to put lit more in than u plan to stay afloat. If u reach that threshold. An u still holding a dollar. As it goes back up. So it will to. I've sunk lord knows how much. An I've hit rock bottom an lost it all. I'm ashamed to even admit all that I lost. But I've went down with the ship. With my head just above water. But as the market…See more
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Daniel whatley@HANIBALLECTOR
@LadyOfTheTrade . That's a awesome name. Just like ur story. Shows strength an determination. That's a good thing fir the market but bad for our pockets. Stay strong my friend. It's gets better in time. Just remember. #THESTRUGGLEISREAL
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Addie@AEinvest
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Daniel whatley@HANIBALLECTOR
@AEinvest it's not really advice. More learn in our errors. I know I'm set to lose lot more. If I gave advice. I'd say crypto Is ur best bet. Is for me any way. But stay strong. U will get there. Always remember #THESTRUGGLEISREAL no matter what u invest in
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@LadyOfTheTrade Great read. I felt this deeply. Stay strong and we will make it through.
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@LadyOfTheTrade Wow that took courage. Thank you for sharing and I hope you invest/trade your way back into black and completely out of the red.
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Kimberly Shaw@SouthernBelle77
❤️❤️❤️❤️
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@LadyOfTheTrade i have hit the deck a few times. Bike scratched, cuts, blood running. You defunately get up, clean up, move on. If you give up there is nothing learned or gained. Losses can be gains as well. 👏 congrats on not giving up and miving forward. May the winds be at your back and the meet your wheels.
RP
❤️ Thank you for the info, must have patience
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I'm so sorry, this is difficult no doubt, it is for anyone getting into the market for the first time, especially when they have a string of losses like you mentioned above. I was a broker for yrs and I had to learn the same lessons as you & everyone else. If I might add my 2 cents worth here, I learned a long time ago that cutting losses somewhere between 5% & 7% made sense to me rather than buyi…See more
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Stacie Walker@moneymagnetqueen
@RicksPix2022 Excellent NOT financial advice. Deciding to sell when it falls to 7-8% has helped me greatly over the past few weeks. I wasn't doing that before then. I no longer let my emotions run the show and muddle my decision making. Have a wonderful day.
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Stacie Walker@moneymagnetqueen
@LadyOfTheTrade This is nothing to be embarrassed about. You are learning from this experience. As long as you continue to educate yourself and figure out what works best for you, then your success is inevitable. 🙂
F
Does public have Columbia Care inc.? I can’t find it and I want to invest in it.
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@LadyOfTheTrade thank you for sharing, great post! Hang in there!