What's the most expensive lesson you've learned?

TheImpressiveX@lemmy.ml to Asklemmy@lemmy.ml – 218 points –
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Not a massive expense. Turned 500 € into 250€. Learned a lesson nonetheless.

I followed the GameStop (GME) hype to late and halfed my money in 4 easy steps. Follow and don't repeat.

  • invest (feel like robin hood ... hehe)

  • panic (notice why I shouldn't daytrade and why I was in therapy

  • withdraw my money at an awesome 2:1 ratio

  • not fall for internet hype that quicky again and delete my invest account

There's an old saying that "Time in the market will always beat timing the market."

You just didn't hodl long enough ;)

Stock market is all gambling. You just gotta choose a bunch - some indexes, like Dow/S&P, some bonds, and then a few stocks you "like". Then hold them for decades, and check in only a couple times a year. Otherwise you'll most likely lose money.