I lost about $4000 in shares please make me feel better.
I have lost about $4000 in shares after investing in stocks through sharesies and because I sold these in 2022 while the market was down 30%.
I've learnt from this experience that you should never panic and sell especially when the market is down because the market will always recover.
It was actually a buying opportunity but I panicked and I probably didn't have to do this as I live with my parents and didn't need to sell out. I entered the market back in mid 2023 and am recovering from the loss but if I hadn't sold I would have been up 25%.
Anyway I want to feel a bit better? How much are first home buyers contributing towards interest payments per month to the bank? I heard from a financial advisor that its much more than what I have lost especially those who bought in 2021.
Here are things I have learnt it was an expensive lesson: 1. Buy companies with conviction 2. Look at balance sheets properly (are they making consistent profit?) 3. Buy and hold.. buy more when market is down its a buying opportunity and treat it like a discount.