It really sucks because I got into the market in late 2021. I purchased VOO, QQQ, Shopify and a few others. By late Jan I was done 6 or 7k. Then I “bought the dip” in Tesla, Upstart, Google, Nio, which caused further losses. I even bought some crypto, but I was able to recover my loss in that by buying Bitcoin when it was at $33k and sold at $45k…the only smart thing I did…
I made a big mistake, I know. Problem is, what should I do now? I still got about $20k in the market now, around $10k in the index funds mentioned, the rest in stocks. Got about $3k in Tesla, $3k in Upstart, and the rest in Google, Disney, and McDonalds.
Good thing I'm young, and I still got over $100k in cash saved up. Late last year was when I started to invest (bad timing!) and I decided to take $30k to play around and this is what happened.
Should I sell most of it now (given that everyone say the market will drop further), and “accept the loss”, and do DCA on index funds from now?
BTW, what caused the big drop today? Do you think it'll tank further on Wed when Fed raises rate? Please advise. Would like to hear from more seasoned investors.
Thanks
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