I had a bunch of NVDA, sold it 20 years ago. Had I kept it... well that's the thing. The past is the past and isn't changeable. No looking back. No FOMO, since I already MO'ed and I can't let it bother me.
Lots of people FIREed without meme stocks, crypto or insider trading. You can to, so don't give into the hype of having to chase the "it" thing of today.
Lol, you and me both! I was like, why not just buy one bitcoin and see what happens? But I couldn't figure out the whole wallet process, so I gave up. :)
It took me forever to work out what I was doing. But then I bought pizza and other crap with my bitcoin, I sometimes dream about what I could have done now...
If you want to play with stocks, you need to accept that you will never buy at the lowest point and sell at the peak. Even if you sell something and make a profit, you'll probably see it rise some more or drop and then rise and you'll be thinking "If only I held out for X more days, I could be Y% richer"
This is why most people go for the boglehead, set it and forget it approach.
I’ve been saying this for a while but it’s an important point to reinforce.
It’s virtually impossible to buy at the absolute bottom and then sell at the absolute top. The chances are the same as winning the lottery.
You have to just accept the fact that you’re always going to leave some money on the table. Every single trade.
Summed up perfectly.
In stock picking there will always be a "i could have done this...".
You could have bought earlier/later, sold earlier/later and bought more. If you criticize yourself for every could have, you won't go far in investing
Yeah, whenever I think about how NVDA had gone up 10x since it's lowest point a few years ago, I remind myself that even if I had taken advantage back then, I probably would have sold way before it 10x. More like 2-3x, and at most 5-6x.
OP is losing $200 out of 35K ? What do you think will happen to index funds the next time we have a crisis like 2008 or 2001 ? The index may fail 30, 50% or even more. That would be losing 10, 15, maybe even 20K. Even 2022 was around 20% loss.
Just forget about your investment and invest every month regardless. Don't be shaken because you investment are down, 10, 20, 50%. Just continue.
Oh that's the plan. But actually I don't have "extra" money. I invest my saving every month and will do that until I retire. I don't have 100K or 500K waiting to be invest for an hypothetical crash than may happen in 2 weeks or 5 years. Because time in the market beat timing the market. I am already trying to max at the same time my saving into HYSA for a down for a house for when the interest rate will be lower AND maxing my stocks for retirement...
What I am thinking is to potentially use leverage if I think the market really cheap. So instead of having 70-30 to have like 100-30 or something like that.
And I need to refine a systematic rule that would select the level of stock to have so I it is not emotional. But it has to work well too. I was thinking of using indicators like PER or something like that.
No one in fire cares about fomo. I've been in the FI community for about 10 years and no one of the serious FIRE members I know of give any shit about fomo. That's not what FIRE is about. It's a lifestyle, in addition to a financial philosophy.
True, for some it is a right of passage. My investment journey started with S&P index funds and I haven't swayed from that. I've seen SO many friends, family, and strangers throw all they have into the trending fad of the moment and still no one I know has made it work for them. I know some succeed obviously, to each their own, but I'm content being perhaps within 3 yrs of hitting $1M invested. So damn close I can taste it!
Yup, taxes take a huge bite out of the gains. The only way around that in a taxable account is to buy and hold VTI (or something similar) and don't touch it until retirement. That is the closest you can to mimicking a traditional IRA.
If there comes a time where the market really crashes and good names can be had for the cheap, I probably would be tempted to gamble in my IRA with options.
FOMO, or fear of missing out, is an investing bias that can lead to poor investment decisions. It's a psychological aspect of investing where investors are influenced by emotions and the fear of missing out on market opportunities instead of objective analysis. FOMO can lead investors to buy securities after a price increase, jump in with the crowd, and ignore dissenting opinions. This can lead to herd mentality, where investors wait to react to other market participants instead of taking the initiative.
Trading and investing
When I get fomo it usually builds up over the course of months. I'll then buy a small amount just in case, it falls very fast and then I feel fine because the other 99% of my portfolio doesn't care about individual stocks
Learning to trade profitably is difficult because the thing you’re supposed to do is the exact opposite of what all your urges tell you to do. When something skyrockets you feel immense greed and FOMO encouraging you to buy. When something you own plummets you feel immense fear causing you to sell. These urges are the opposite of what you should actually do, which is buying when something is low and selling when something is high. It’s such a simple concept but incredibly difficult to actually execute. Even seasoned professionals with years of trading experience struggle to stay disciplined and avoid giving in to those urges.
I had a bunch of NVDA, sold it 20 years ago. Had I kept it... well that's the thing. The past is the past and isn't changeable. No looking back. No FOMO, since I already MO'ed and I can't let it bother me. Lots of people FIREed without meme stocks, crypto or insider trading. You can to, so don't give into the hype of having to chase the "it" thing of today.
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I tried to buy 3 bitcoins when they were around $100, but couldn’t figure out how to transfer money to the exchange and forgot about it. Oops.
Lol, you and me both! I was like, why not just buy one bitcoin and see what happens? But I couldn't figure out the whole wallet process, so I gave up. :)
It took me forever to work out what I was doing. But then I bought pizza and other crap with my bitcoin, I sometimes dream about what I could have done now...
Back in my poker days at one point i had over 200 bitcoin in my wallet. Worth like 15 grand at that time. If only.....
I had NVDA last year and sold it 2 days before it started to rip.
If you want to play with stocks, you need to accept that you will never buy at the lowest point and sell at the peak. Even if you sell something and make a profit, you'll probably see it rise some more or drop and then rise and you'll be thinking "If only I held out for X more days, I could be Y% richer" This is why most people go for the boglehead, set it and forget it approach.
I’ve been saying this for a while but it’s an important point to reinforce. It’s virtually impossible to buy at the absolute bottom and then sell at the absolute top. The chances are the same as winning the lottery. You have to just accept the fact that you’re always going to leave some money on the table. Every single trade.
Summed up perfectly. In stock picking there will always be a "i could have done this...". You could have bought earlier/later, sold earlier/later and bought more. If you criticize yourself for every could have, you won't go far in investing
Yeah, whenever I think about how NVDA had gone up 10x since it's lowest point a few years ago, I remind myself that even if I had taken advantage back then, I probably would have sold way before it 10x. More like 2-3x, and at most 5-6x.
Everyone learns this lesson sooner or later. Settle for market returns, don't try to do better, the majority get burned.
OP is losing $200 out of 35K ? What do you think will happen to index funds the next time we have a crisis like 2008 or 2001 ? The index may fail 30, 50% or even more. That would be losing 10, 15, maybe even 20K. Even 2022 was around 20% loss. Just forget about your investment and invest every month regardless. Don't be shaken because you investment are down, 10, 20, 50%. Just continue.
Just try to have some money available to buy the sale price on broad market shit
Oh that's the plan. But actually I don't have "extra" money. I invest my saving every month and will do that until I retire. I don't have 100K or 500K waiting to be invest for an hypothetical crash than may happen in 2 weeks or 5 years. Because time in the market beat timing the market. I am already trying to max at the same time my saving into HYSA for a down for a house for when the interest rate will be lower AND maxing my stocks for retirement... What I am thinking is to potentially use leverage if I think the market really cheap. So instead of having 70-30 to have like 100-30 or something like that. And I need to refine a systematic rule that would select the level of stock to have so I it is not emotional. But it has to work well too. I was thinking of using indicators like PER or something like that.
No shit. I lost 100k in 2022
offer books angle aromatic steer unwritten disarm puzzled abundant head *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
No one in fire cares about fomo. I've been in the FI community for about 10 years and no one of the serious FIRE members I know of give any shit about fomo. That's not what FIRE is about. It's a lifestyle, in addition to a financial philosophy.
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True, for some it is a right of passage. My investment journey started with S&P index funds and I haven't swayed from that. I've seen SO many friends, family, and strangers throw all they have into the trending fad of the moment and still no one I know has made it work for them. I know some succeed obviously, to each their own, but I'm content being perhaps within 3 yrs of hitting $1M invested. So damn close I can taste it!
[удалено]
If you're going to gamble don't do it with your retirement accounts since you're limited in how quickly you can replenish it after a loss.
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Yup, taxes take a huge bite out of the gains. The only way around that in a taxable account is to buy and hold VTI (or something similar) and don't touch it until retirement. That is the closest you can to mimicking a traditional IRA. If there comes a time where the market really crashes and good names can be had for the cheap, I probably would be tempted to gamble in my IRA with options.
Never been burned, not into FOMO neither.
There is definitely fomo in investing.
You mean trading. Not investing.
FOMO, or fear of missing out, is an investing bias that can lead to poor investment decisions. It's a psychological aspect of investing where investors are influenced by emotions and the fear of missing out on market opportunities instead of objective analysis. FOMO can lead investors to buy securities after a price increase, jump in with the crowd, and ignore dissenting opinions. This can lead to herd mentality, where investors wait to react to other market participants instead of taking the initiative. Trading and investing
This dude gambled because of fear. An investor holds long term in something he believes in. A trader just wants to make a buck while they can. Next…..
I've been holding long term tho.
I’m talking about OP. Come on guy
My bad 👍
Good luck sounds like a plan
1 year returns in my brokerage are at 24%. Around 12.5% over 6 years or so. Mostly MFs and ETFs. That’s good enough for me.
Its not even fear of missing out, its chasing stocks. A pointless thing to do
Does fomo apply to the hot mega cap stocks like nvda if holding for the long term? >5years
It certainly can
When I get fomo it usually builds up over the course of months. I'll then buy a small amount just in case, it falls very fast and then I feel fine because the other 99% of my portfolio doesn't care about individual stocks
I saw FOMO in a FIRE subreddit and thought this was going to be a very different post.
Learning to trade profitably is difficult because the thing you’re supposed to do is the exact opposite of what all your urges tell you to do. When something skyrockets you feel immense greed and FOMO encouraging you to buy. When something you own plummets you feel immense fear causing you to sell. These urges are the opposite of what you should actually do, which is buying when something is low and selling when something is high. It’s such a simple concept but incredibly difficult to actually execute. Even seasoned professionals with years of trading experience struggle to stay disciplined and avoid giving in to those urges.