View Single Post
Old 12-22-2017, 01:53 PM   #37
nightfighter
Seldom Seen
iTrader: (0)
 
nightfighter's Avatar
 
Join Date: May 2001
Posts: 8,449
Quote:
Originally Posted by PaulS View Post
Ross, why is it that everyone who says they invest in schemes like this never lose $, you only hear of them making $?
Pride and ego mostly. I made good money in Go Pro when it came out. Took a profit. Went back in pretty heavily on momentum, added to it on a couple pull backs, and ended up losing 75% of the capital invested plus the original profit. Still used the loss to offset gains as recently as last year. Of course you cant do that in a retirement account...
Emotion can lead to massive errors in judgement when it comes to investing. Chasing a stock is no different from the gambler trying to make up losses from the 1 o'clock NFL games by going in heavy on the late games. I do have >50% in a single position, but it is a large cap and I am up > 125%, which skews the pie. Usually have no more than 10% in a single position when establishing it. These folks who say they put it all in on Bitcoin, or whatever, are either lying or have the ability to live with a ton more risk than anyone I know personally.
Crypto market cratering some more today, though most trading is done for the day at this hour as majority of traders are in the bars...

“Americans have the right and advantage of being armed, unlike the people of other countries, whose leaders are afraid to trust them with arms.” – James Madison.
nightfighter is offline   Reply With Quote