Ask any successful trader and they will tell you that learning from your mistakes is one of the most important lessons you can take from trading and investing in the stock market. In the TIFU forum, not only do we want to hear about the most horrible mistakes you have made, but we want to celebrate them because by sharing them you are giving us a free lesson!
I know no one post in here, but for my sanity today I bought GPRO for more than what I knew I should. I knew their was a chance the price would drop lower...but I decided...just in case buy now. Problem is I did this for me and my three additional accounts.
You can pick good companies. We all can. You are not a genius to buy $KO CocaCola. Timing the market is the hard part. Today was $46.15. Do I buy? Will it go down with some bad news in the morning? I don't want to miss out. What if tomorrow, Coke inks a deal to be the sole, exclusive vendor and sponsor to NFL? Then stick price will soar and I didn't buy. My real fuck up is not buying. Every dollar I left out of the market was $2 lost in earnings. Instead, I bought meals, cars, vacations, heels, purses, tits, politicians, and 18 year old girlfriends. I lived, a life that's full. And traveled each and every byway.
Golden words! You're entire post is fabulous but I shall just quote this gem. My perspective is that buying a little high or missing the mark on market timing is a different situation with a growth company than it is with a distributing company. A company that distributes can be set to DRIP and it will somewhat correct itself over time.
So, a non f-up would mean you waiting till you were 80 to "live life"? To be honest, you only live once, so don't wait till your too old and perfectly financially secure to enjoy some of the things on this planet. I was born dirt bag broke. And since then I have climbed mountains and hiked many a trail from the Appalachian to the bottom of the grand canyon on the colorado from the north rim. I have driven several race cars, flown in a 1929 Curtis on the Oregon coast, ridden elephants, been chased by elk moose and bear. I could go on. But none of that happened because I was born dirt bag broke and only wanted to be rich. Work on that bucket list. You only get one shot at it. You can make money pretty much any other time while you are at it.
100% correct. Make the most of it. If you can get rich at the same time, then that's a plus, but concentrate on living life 1st and foremost. Just met you, and I already like you. I also came from a lower middle class back ground. I've gotten semi-wealthy, lost it all several times, building it back up, but never lost sight of living life.
You are what should be labeled as a success. Most people fear financial failure. Granted, it is a very worthy fear. But until you have it, and lose it, and then find your way back again, you will never know your ability to succeed regardless of your current position. Been there done that, bought the t-shirt and hat to match.
I am a working class, blue collar guy. Nobody gave me anything. Before I was old enough to legally have a job, I still found ways to make a dollar running errands for local shopowners, helping out around the local corner stores, at cetera. My dad taught me everything he could. I had the Poor dad. Work hard. Work as much as you can. Volunteer for overtime. Get a 2nd job. I I'm not a big investor. I still don't have much money. But I turned zero dollars into many zeros after the dollar. No huge accomplishments. Just conservative buying and holding. The occasional risk. And mistakes along the way. The good picks have managed to outweigh the losses. Could be just luck. In real life, I have lost more than I ever lost in the stock market. Luxury items. Fashion. Breast implants. Cars. Motorcycles. Guns. Wining and dining. Collectibles. Hobbies. Sports. And it all revolved around women. Women provide the greatest of comfort, and the worst problems. I could conservatively say that my net worth would be double, if I wasn't addicted to women.
Brother, Not really. I think i would be better today if thats all that happened. I have had at 3 of them tear away pieces of my sanity over time. Had My gf tires slashed. Keyed furniture. Been sent to a shrink court ordered. Seen shrinks voluntarily, due to said stresses...Lol. i have been told by no less than 5 people that i should write a book on my life. Its had some very obscene moments....besides. Nobody reads anymore. I would have to vlog, and im too self conscious. Haha
Then they make you take court ordered classes, which you have to pay for. Anger management. Parenting classes. Sensitivity training. DUI school. You go to them all if you leave the bar, as you pull away from the curb your car is struck by a station wagon full of nuns, those nuns happen to all be Sisters of Perpetual Indulgence, then you call them a lot of curse words, as a field trip full of high school kids walk by. Not that it happened to me. I heard a rumor about a guy who works in the same building, 2 floors down. At least the court can't issue a restraining order to keep you from your trading account. My bartender, who has seen me leave the bar with whomever is leftover at closing time, said that I should write letters to "Dear Penthouse Forum".
I have collected first editions of every book written (about current politics)i the last four years. I have a massive electronic data book collection. I enjoy novels and sci-fi books. But honestly, I cannot see myself buying the two books mentioned above. Sorry, just can't do it. @A55 and I had no idea penthouse had words in it. When did that start?
We spend the first 9 months of our life tying to get out of one and the rest of it trying to get back in.
