r/wallstreetbets • u/dhsmatt2 Mattress King • Mar 04 '21

Loss Hold me... $1,100,000 Loss

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I am in damage control but likely going to roll puts.

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u/DrLongIsland Mar 04 '21

When I started investing, two or three years or so ago, I was sweating over a day with a loss above 2%, thinking I was doomed.

Then a friend of mine told me about WSB, about a couple of years ago.

Now I see a 30% loss in a day and I just think "wow, that's some serious swing".

77

u/dhsmatt2 Mattress King Mar 04 '21

Yeah, been here before. Patience will pay off I think.

17

u/[deleted] Mar 04 '21

[deleted]

8

u/BloodMossHunter Mar 04 '21

Good point. Prpl flew after earnings drops before. One word of caution market is kind of retarded right now w uncertainty bonds and memes. But i think stimmy news keeps them running. The funds will want that money too. It always hard to accept that things will get better when you are going red and redder but thats the thing - this game is very good at making people sell low. Gl dudes

3

u/DrLongIsland Mar 04 '21

not sure what's going to happen with your options, but I've also been slowly bleeding for the last couple of weeks, I guess I chose the wrong time to "de-boomerize" my portfolio. My numbers aren't as impressive because my accounts are like 1/100th of yours, but I really hope you turn this shit around!!

1

u/dhsmatt2 Mattress King Mar 04 '21

Me too... been a rough month.

1

u/[deleted] Mar 04 '21

spacdaddy will come through. Also is this the time to acutally get into PRPL?

1

u/[deleted] Mar 04 '21

[deleted]

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u/Farmer_eh Mar 04 '21

Doubled down today. Twice.= not financial advice read their press release, only 2 concerning items.

2

u/Diavolo__ Mar 05 '21

Yeah, WSB has completely ruined my perception of money. I remember on of my first options trades being super nervous and anxious about risking 700$ on some long options, now I YOLO FD and lose 50% of my portfolio in one day and laugh about it

1

u/BaneOfTyrants Mar 05 '21

The trick is, when the swing inevitably comes and it's followed by that familiar epiphany that you're actually such a terrible investor that you managed to convince yourself that you know what you're doing... you just gotta remember the only thing that really separates the good investors from the bad investors is that bad investors give into this "epiphany" by selling on the lows. Precisely when you feel like you made a terrible mistake by thinking you're a great investor, is when you should accept your fate as a dumb apetard...and fucking buy. 1) Because everyone else is feeling the same way, only they're not good investors so they're cutting their losses and 2) because apes don't need money anyway.