2020 and early 2021 must be the golden times to invest – if you have *just a little bit* of patience. Which I apparently don’t have.
In 2020, had you bought TSLA when it dipped to $300, had you bought BTC when it dipped to $5k, had you bought NIO when it was $3, etc and held until the end of the year you would have made bucketloads. I never did any of those things. Completely missed opportunities.
In 2021, had you bought GME at the beginning of the month, had you bought AMC or BB or PLTR or NOK at the beginning of the month, and held it, you would have made six figures *at least*. I didn’t completely miss it – but I did fuck it up.
On Jan 25, I bought 3 call options for AMC when it was $4 and a call option for GME when it was $78. And the very next day, I woke up in the morning to check them, I was still down on AMC and my other call options and I was barely breaking even on GME. I guess I got too emotional, felt really demoralized (because usually stocks go up in the morning and although GME was up 18% that day I was still barely breaking even), and I guess added onto the pressure that it was a weekly expiring option, I sold all my options for a loss of $1k (GME was at $89 and AMC was at $4).
BIG MISTAKE. GME subsequently shot up to $140 midday and as of today it’s over $300. AMC shot up today to $16. That’s right, a 400% gain on AMC on the underlying and 330% gain on GME on the underlying which probably would have meant I lost out on *at least* $50-$60k or more because I sold my options yesterday morning. FML. All because I got too emotional and demoralized and wasn’t able to hold anything for more than a day.
If this $60k lesson taught me anything, it’s to BE PATIENT and STAY CALM. How many times have I lost out on gains in the past because I wasn’t patient enough? probably millions of times. This is the same, just on a shorter scale because I literally could have just waited a single day and I couldn’t even do that. So yeah.. I deserve to lose that money. People who invest but are not impatient are doomed to lose. Patience is a virtue and in the case of investing – absolutely essential to making any amount of money.