some lore, since this is one of the trades that changed the direction of my life financially
late 2020 i had a “good” job, my wife worked, we had a two year old. i'd been learning ta and trading on the side for a couple years, still not confident, mostly following people smarter than me and doing my own work after
i was reading wall street bets at the time. that’s a joke now but in 2020 wsb actually had writeups from people who did real work. you had to dig through the gamblers but there was signal. that's where i found gamestop $gme. there were maybe two or three thesis posts on it total. the roaring kitty guy and one or two others. nobody was in it yet.
did some research over a few hours and then sold a bunch of etfs, some random stock, threw in some savings from sports betting, scraped together about 100k and put it in immediately (same day)
that was a lot of money to me then and still is. i put every dollar of it in one shot at a $13 average, pre split. no dca, no tranches
within a few days the ryan cohen news hit and price jumped to 16, 17. from there it was basically a straight line up
i've had some well timed trades in my life and that one is right up there, and it had nothing to do with me being good at ta. it was chance. i happened to read the right post at the right moment.
what was actually mine was the risk tolerance. i had zero fear and a let's go fucking get this attitude, and that's what put the whole 100k in instead of a sensible 10k or a dca strategy.
a month or two later that position was worth 3-4 million dollars
i had never seen money like that. it was just on a screen and i was still going to work every day. i told my wife we'd made a million dollars on the way up and she asked if i sold. i said no, it's going higher, we're going to retire off this. she told me it doesn't count until you sell
she was right. i didn't listen. then robinhood turned off the buy button, which people forget about now, and the rally was over right there.
i ended up selling most of it around a $200 average against a peak near 350. then i got cute and added on the way down and got rinsed on that part too
walked away with low 7 figs after tax. so i left multiple millions on the table and it was still the best trade of my life up to that point. complete life changer i was so happy about.
and for anyone reading this as a “great trade bro” story, it's not really about that . the trade itself was mostly luck.
the part i actually controlled was being willing to put on risk that normal people won't put on, so that when the luck showed up i had enough size for it to really change my life.
you can't control the timing or whether the thesis works but you can control whether you're sized in, and in position if it does
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