The Loss-Pron Thread

Sanrith Descartes

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Making this thread because much like a graveyard it's only a matter of time before you need one. Judging by the posts in the crypto thread, that time is going to come sooner rather than later.

Let's post up those losses bros.

My favorite: buying XOM at $70 a couple of months before the Coronachan crash. With the shit down in the high 30's I start selling covered calls to make some type of return off this shit. While multi-tasking and not really paying attention I set up a limit order instead of a call option (don't ask). Hit submit and boom sell order fills. $30 a share loss. Exquisitely painful.
 

Jackie Treehorn

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No exaggeration:

I’ve never been down any wild amount of money in 15 years of trading. This is not skill based, I’m just perpetually adjusting and watching costs like a hawk, and I will sell like a bitch at the first sign of major distress.

Note: this has almost certainly lost me money over time, but psychologically it makes me feel good. I am decidedly up in value since 2006, the year I opened my Fidelity account. I would probably (read: definitely) be even higher if I’d held some things through downturns.
 

Sanrith Descartes

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No exaggeration:

I’ve never been down any wild amount of money in 15 years of trading. This is not skill based, I’m just perpetually adjusting and watching costs like a hawk, and I will sell like a bitch at the first sign of major distress.

Note: this has almost certainly lost me money over time, but psychologically it makes me feel good. I am decidedly up in value since 2006, the year I opened my Fidelity account. I would probably (read: definitely) be even higher if I’d held some things through downturns.
You have never had a single trade go south on you in an instant due to some unforseen event and you bailed with a loss?

I'm hiring you instead of doing my own investing. How much do you charge?
 
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Jackie Treehorn

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You have never had a single trade go south on you in an instant due to some unforseen event and you bailed with a loss?

I'm hiring you instead of doing my own investing. How much do you charge?
No no, of course I’ve lost money like that, but never to an extent it didn’t come back quickly. Take last night for example. I didn’t get out fast enough and bought at a shit entry and I was down $10k. But by this afternoon I was up $2k and I sold again. I’ve never actualized a loss greater than a couple grand.

And again my strategy isn’t really a wise long term strategy.
 

LachiusTZ

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I did way to much cocaine during GME.

Bought, out went up, IT'S HAPPENING BOYS. The next morning shit crashed. I sold by noon.

A few days later GME and AMC were both back up.

I would have made money, but sold to soon or to late. Lol

Ate a few thousand loss.
 
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Rajaah

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This should be a fun thread. Well, not fun for the people posting on it.

"Perpetually adjusting and watching costs like a hawk" + setting limit orders on when you buy and sell seem to be the plays. Would have saved me a lot of money to use those functions more.

I've pretty much had the worst luck in both stocks and cryptos, but I managed to stay in the green overall up until two days ago. People currently following the crypto thread already know the story, but recently I sold BTC and Eth close to their ATHs and moved all of that into VET which I see as having more short-term growth potential. I still do, but more growth potential also means more movement on a crash, and a crash is what we got this week. I moved my Eth money over to VET literally a couple hours before VET nosedove. So all of that ATH money is crunched like a slinky right now, down probably 20% overall. I don't think it belongs in loss-porn because I haven't sold anything and expect it to rebound, but having such poor timing right after consolidating is definitely a "WOMP WOMP" moment in my life. It's such bad timing that I almost have to laugh. Won't be laughing if the dive continues.

As for actual loss-porn, here's my contribution: Bought Doge at .071 when it was on the climb, then it pretty much immediately tanked. Waited a couple months, then sold Doge at .058, lost over $100. Which is peanuts compared to the actual loss-porn: A few weeks after selling at basically .06, it skyrockets to like, .48 or some shit. WOMP WOMP.
 
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Locnar

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After making money with amc/gme and all that shit that was going on I got suckered into the "silver is next" thing. Bought high , sold low. Quickly lost a few thousand in like 2 days. Ate the loss and moved on. Proceeded to lose even more on NOK, another several thousand. Those are my two biggest since becoming a active trader.
 

Threelions

Victory Through Harmony
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GME ate my tendies when ROBINHOOD fucked my asshole and wouldn’t let me buy or sell. learned my lesson with those cocksuckers with what should have been a big win turned into a 4K loss. Never again with RH.
 
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TheBeagle

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Bought 55 shares of CCIV at $58.50 the day before the merger was officially announced. I think we all know what happened shortly thereafter. Still holding, but god damn it hurts every time I have to look at my positions on that account. Good lesson in 'buy the rumor, sell the news'.
 

wormie

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Around November 2008 i was frequenting a message board for stocks and one of the prominent posters started talking about warrants of a chinese media company. I quickly jumped on what sounded like a great deal and the warrant purchase turned out to be pretty damn lucrative. The warrants converted to common shares of a SPAC in January and my 50 cent warrants became 6.50 dollar shares. I was pretty happy with my accomplishment. Around that time, the company who I now owned, CCME, was being touted around my message board as having a bright future and being worth more than 6.50 dollars a share. News kept coming out about new deals this company signed with large chinese bus companies, to provide TV ads on busses, and with large real estate holding corps, to provide TV ads in elevators. There were a few shareholder phone calls with the management, which to untrained ears sounded good. But to trained ears the calls sounded fishy and small investment groups started publishing negative research. And the research wasnt just bearish, the research was claiming that the company was fraudulent, had no assets, no deals and was nothing but an empty shell. But how can this be true when the stock price is going up? By the time June 2009 came around, my initial investment of 5k into the warrants and subsequent investments of another 18k into the common stock had blossomed into 40 thousand dollars. I felt like king shit and the smartest man that existed in the markets. Nearly 100% gain in half a year? I was a king among peasants and needed more. So I started selling puts to buy up more stock. About a week after my first options purchase, CCME, which was listed on the nasdaq, gets halted and rumors start flying around. Apparently one of the small research funds actually managed to make their way into the CCME office and film the "hard" working men and women there. It was nothing but empty offices with people sitting around all day drinking tea and coffee and playing cards. There was no assets, there was no business, there was nothing. By the time the halt was removed, my 40k became 50 dollars and, by some amazing luck, my options expired during the halt and were never exercised. I lost 23 thousand on the stock but did get to keep the 2k premium from the options. I learned quiet a bit from that experience but it would have been nicer to learn that lesson at a cheaper price.
 

Tmac

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Wheres the, “I suck at stonks thread so I never lose that much, but never gain that much either?”
 
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Jackie Treehorn

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Wheres the, “I suck at stonks thread so I never lose that much, but never gain that much either?”
Well I mean, this is basically my strategy. It makes you money over time but you lose potential from being overly cautious.
 

Hateyou

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My “loss porn” has mostly just been seeking too early and missing out. The worst being selling CLSK at $4, went into $30s a few months later.

Anyway, I remember an old guy I worked with in 2008 coming out to the floor shaking his head and laughing, he had $600,000 that went to $0. Was not his total portfolio as he said he was still fine but still hurt.
 

Jackie Treehorn

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Bought the top of the market in 2006, lost 80%, thankfully I only had a small amount invested.
The first year I bought stock. I put maybe $6-7k in the market. I remember I just bought 2-3 stocks, and one of them was BHP Billiton, don't remember the others.
 

Blazin

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Worst loses for me were 3dfx, EXXI, and Gatehouse Media. I'll never forget them, painful lessons. I'd show you charts but my oops are so bad they don't exist anymore.
 
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Blazin

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3dfx? Was it called the S&P 100 back then?
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