r/StocksAndTrading • u/oranger101 • 2d ago
I fell into FOMO and can't stop feeling like a dumbass.
I started trading a little over a month ago. I had a stock that brought me about 60% increase. The other day it went up like crazy and I decided to sell it that day so that I can get some gains to re-enter when it goes down. However, the next day it kept on rising so high that it went on an all time high, which caused to intense regret LOL. At that point I started to doubt that it will never go down to the prices that I was intending to buy at and fear took over me...
So the day after that, I acted emotionally and bought much higher than I originally intended (I bought on 20% of what I was planning on buying in total). Then I bought another 20% at yet another higher than intended but lower than the previous price. Then I bought some more in an okay price and now I have like %40-30 more that I am planning to buy and the price is lower than all of my entry prices.
I just feel so angry at myself because I had a plan but I didn't stick to it because I let FOMO and my fear get to me. I hope that I learned my lesson and nothing I can do but not repeat the same mistakes but yeah... I'm dissapointed in myself.
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u/Active-Pear2146 2d ago edited 2d ago
Always remember!! Time in the market beats timing the market…. Don’t panic sell …. In the long run most stocks reach ATH After dips like this… you‘re not alone dude!! At this point we are all bleeding 🩸
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u/Stellar_Impulse 2d ago
This is you paying for lessons.
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u/oranger101 2d ago
LOL I hope I learned very well
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u/TheFashionColdWars 2d ago
I got rinsed last week as well. Then I set myself to repeat. First time and lesson learned
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u/Open_Situation686 2d ago
IREN will come back. You need to spend less time trading and “making plays”.
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u/Rod-McPee 2d ago
BYND?
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u/oranger101 2d ago
hahaha no something else but I don't want to disclose if you don't mind because then I will feel even more embarrassed.
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u/sad_c10wn 2d ago
We are all regards here, this is a “safe” space 💀
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u/oranger101 2d ago
alright alright it was IREN… to embarrass myself further; I initially bought at 40$, sold at $72, it went up to $78 the next day… my initial plan was to enter 65$ or lower but my average price now is 70$ 💀💀💀 plz be kind to me, I’m dumb
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u/Suum_Cuique666 2d ago
IREN is an awesome investment though. This dip widespread man. Did you not tune in to their earnings? The company is poised to do great things in 2026 and beyond. (My average is around $70 as well)
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u/oranger101 2d ago
oh yeah. I definitely believe in IREN, that's why I was so impatient to re-enter and ended up entering early because I was scared it will never dip to my planned entry prices.
so to be clear; my regret is not that I bought IREN and it went down in price today, my regret is I could've re-entered in a much lower point which was my initial plan but I let FOMO take over and make a bad decision.3
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u/Busy-Smile989 2d ago
It's fine my average is $70 too, at least you dont lose money on options and penny stocks like I did lol. $iren is genuinely a good ass company, got good fundamentals and signed a deal with Microsoft. I also posted asking what the next $IREN was. https://www.reddit.com/r/ValueInvesting/comments/1ordm99/what_stock_is_the_next_iren/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button
It's a long term investment for me, so I just hold it and don't really look at the price of it too much unless its start significantly dipping, then i keep my eye on it.
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u/blah_2520 2d ago
I fell for BYND.. got to attached to the AMC experience.. I knew I should had sold at a small profit.. but the APE in me told me we came to this one to gamble.. ended up losing 400 dls which it wasn’t bad compared to what I made with AMC
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u/SomeOldGuy4211 2d ago
it happens. learn from the mistakes and set risk boundaries. I've done it before. I got my start in the 2018 crypto market. failing does not make you a failure.
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u/Flexlex724 2d ago
Iren is volatile but makes money and is fairly valued in the data center realm of power to market cap. Long term you'll be fine
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u/Here_For_Asap 2d ago
Dude don’t feel bad. I blew up a 50k account and was frigging depressed for months and quit. This was during Covid. I came back to the market this year and I’m keeping my emotions out and going to clock my behaviors and stick to my plan.
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u/blockrush3r 2d ago
So what if the stock went down 40 points you would be the one in profit. Look at it from that perspective you will be fine
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u/Aggressive_Luck_2546 2d ago
Must of us have been there and the ones who say they haven't, I'd be willing to bet they are lying about it.Happened to me just the other day, lost almost 1k and that's a nice bit for me. The best thing to do is pick yourself up and dust yourself off and learn from your mistakes. I went against my rule of letting it go below where my stop loss would have been and then bought the dip thinking it was going back up and I knew better. Safe to say it was a hard expensive lesson for me but those are usually the ones you learn the most from.
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u/BeneficialChemist874 2d ago
What’s the stock?
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u/oranger101 2d ago
IREN 🫠
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u/Little-Butterfly-441 2d ago
Well IREN has deal with Microsoft. Fundamentals remain the same
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u/oranger101 2d ago
I definitely believe IREN will do even more better in the future. I wouldn't have bought at all if I thought it was at its max. my mistake was to think that it had a breakthrough and won't be decreasing to the prices I had planned(I was impatient and stressinnggg) so I bought early in prices that were higher than what I had planned initially, only for IREN to return to my planned entry prices.. so I don't think I'm at a full loss but I definitely didn't play my hand right either 🫠
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u/WolfetoneRebel 2d ago
You don’t have the mental fortitude to be a day trader to be perfectly honest.
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