" Story time - pain and scars that burn but will heal.
True story I am officially one of the worst investors that ever lived in the last decade my poor judgement and timing is impeccable. I'm the bad luck Brian meme of the investing world.
Found out about bitcoin in 2013 at $300-400 and bought the top at $1000. I bought multiple BTC including dogecoin for fractions of a penny. Lost it all to cryptsy in 2014. The pain of that early on led me to never invest in crypto till 2021. Opportunity costed? Millions!
After that i lost over 70-100k over the next years investing in social media companies that was the potential of TikTok before TikTok in 2017-2019. I met with the CEO and had done my "due diligence".
In 2020 I inherited close to 200k and invested it all before the pandemic (just my luck). I had invested in BRK, and ETF's and watched it go down -25 to -40% in a month or two. I moved fast and ended up going all in on oil stocks. I told myself I would never sell it.
Well late in 2020 I started watching Michael Saylor talk about bitcoin. It always bothered me that I ignored it (like a lost child). I proceeded to spend hundreds of hours again on it.
I was waiting for my oil stocks to explode. At the same time everything else was going up. I ended up breaking even on my oil stocks and going all in in bitcoin at 50-55k USD in April (yes FOMO) after watching it and wanting to go all in at 18-20k.
I then discover celsius and think I can replace my dividend income with crypto income. The moron that I am I put all eggs in one basket - fully knowing not your keys not you wallet.
Total over 250k gone (or whatever we may get after sharks finish).
Verses 500k+ if I just kept my damn oil stocks. Or millions if i had learned my lessons early in opportunity cost. "
SMH....never learned his lesson. $250,000 may not be a lot of money to some, but to most people it is. And when you inherit that money it should be set aside for the future. Never go "all in" on anything. Have a plan, trade that plan and for god sake have proper money management. This guy wasn't a trader, he was a gambler with his head in the clouds. We have to do better than this folks!
If you're brave enough, feel free to hit us up on social (links at the bottom) to share your own story. But be prepared to get roasted, for educational purpose of course.