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Everyone is afraid of losing money on the stock market, but sometimes a loss is the best thing that can happen to you.
Today, I'm down over $8k on an extremely risky and regarded bet on IREN Stock, but without losses like this, I will not learn the important decision-making skills for the future.
Think about it: in the future, WE, yes YOU and I are gonna have so much more money. So if we make the same regarded mistakes, we're gonna lose so much more money. So better to make the mistakes now and learn from them now.
Here are the three mistakes that I made on this trade.
1: I got greedy and I put too much money into a bet that was very risky that I did not have high certainty on because I didn't fully understand it. If I want to gamble on something like that, I should do $2,000, maybe $3,000. That's still a lot, but much less than $15,000 fucking dollars. You know why I did that? Because I got greedy. I thought about how much money I could make if it hit and it smashed earnings, but I didn't think about how much I could lose.
2: I didn't fully understand the bear case. Why is the stock suppressed? Why are people bearish on the stock? Why are there, like, 30% of shares being shorted, why are so many people shorting the stock? I need to fully understand that.
3: I couldn't simply say what the business does and why the bear case is wrong. For example, ServiceNow stock, I entered at $90 a share and now it's like around $40 a share. I made a lot of money off that. The bear case was that AI was going to replace the software. It was going to kill the software. My rebuttal to that is that's regarded. ServiceNow is an AI integration platform. (not fully sure of what that means but) That means basically a business would put all of their information, finance, HR, inventory, operations, they plug it into ServiceNow, and then ServiceNow helps them run their business. I don't know about you, but if I'm some, like, 100, 500, 1,000-employee company, I don't want to trust some vibe coded bs that someone tries to build for me. You're not getting replaced by AI. And that was so simple. It doesn't take, like, a rocket scientist to understand that. So if I can't simply say that, I should not be gambling in the stock.
So the next time you have a loss, don't freak out. Don't start trying to numb your mind with video games and doomscrolling, and then you start checking your ex's Instagram, and then you start seeing how she got married to her new boyfriend, and then you start g00ning because you're depressed, and then you just waste the entire day, and you don't work out, and you're a loser.
Not that that's, like, ever happened to me. But instead, slow down and consider why your decision-making and your strategy was wrong.
This was just a setback. We are still going to get that 7 fig portfolio. Meta is ripping. We're going to be okay.
Here's my original bullish iren post: [https://www.reddit.com/r/wallstreetbets/s/5wqSYlhjuz](https://www.reddit.com/r/wallstreetbets/s/5wqSYlhjuz)
Not realized loss, hoping it will bounce up and greatly minimize my loss.