I wouldn't say I'm relatively new to the market but I am obsessed with trying to buy at the bottom and always ended up selling lower than what I bought them for. I also don't like the idea of diversifying since it will limit gains(I prefer investing in 2-3 stocks max like MSFT, TSLA, AAPL, etc). I know this is a terrible strategy and I am really tired of losing money(I only lost 2-3k here and there but they're adding up).
I have saved up a decent amount of cash (low 200k) and want to start fresh. The problem is I always like to lum sum on a single stock (let say TSLA) and then I would have no money left and see the stock goes down and regretted that decision. I think I have the ability to hold ( I went all in on a stock(TSLA) at $170 and it went down to $100s in just 1 month and I did not sell. But then I sold as the stock went up at breakeven and then the stock went up even further. I then stopped buying and selling for about 10 months and stayed on the sideline). I guess I am just really good at buying high and selling lower? lol..
Do you think my issue is dropping all my money at once? Would it be much better if I just DCA? man having this all in mentality is not helping me. If I were to DCA should I just have my brokerage automatically do that in let say monthly interval? Again I like to time the bottom and that's why I don't do this…
Leave a Reply