I started investing 6 years ago. I never had an interest before that. I felt like it was boring. Sure, old people have 401ks for retirement and that was it. Then in 2017, I discovered Bitcoin.
First steps
That changed everything for me. I never thought something could 30x value in a few years. From there I was hooked. I dove right into crypto and bought the top…
I made some money off of a coin called TRON, and I thought I was a genius. Investing is simple right? Problem is I never sold, and the crypto winter followed.
The fall
I was discouraged to say the least. My gains turned into nothing in a few short months. Crypto was done for me at that point.
Queue the stock market. While crypto was falling into the abyss, stocks were happily rising up. Perfect, I thought. Time for the next easy money.
And again…
It went great at first. Buy anything, and it went up. Then stocks had a rough patch in 2018. I lost my gains and then some.
Next up was penny stocks. Kinda like crypto, right? I saw penny stocks go 300% within days on the regular. Needless to say that didn’t pan out. I got pretty deep into a stock by the ticker NVCN. Followed the “buy the dip” stocktwits crowd.
And yet again
Of course after all of this I found the solution. Options. Easy money. All you have to do is buy some calls and 3x your money in days. Problem is if things don’t pan out, the contracts go to 0.
Getting back up
After losing again, I knew I had to rethink things. Buying the dip doesn’t work when the company dilutes shares. At that point you’re just buying their debt. Crypto was a fun experiment, but it’s volatile.
The plan
Now I do things differently. I look at value over noise. Average into positions to reduce cost. Selling options instead of buying them.
There are some different results.
A lot more green instead of red.