6 HUGE Mistakes in Stock Trading Discord 2023-24

The speaker, Jason, discusses six significant mistakes he made in stock trading during his first 15 months, leading to a loss of business. He emphasizes the importance of risk management, advising viewers to avoid repeating his errors, such as holding onto losing investments too long, and suggests adapting to a rapidly changing market environment with increased trading frequency and AI integration.

Kraken Stock

• 00:01:47 The speaker discusses the Kraken stock, a mistake of re-investing after a successful exit, resulting in a significant loss. He emphasizes the analogy of 'not making a souffle rise twice' and the company's lack of credibility due to a reverse stock split and the CEO's actions, predicting a potential drop to a nickel or a pump to near a dollar.

GRTS & Biotech

• 00:06:34 The speaker describes the mistake of holding onto GRTS stock after phase two and three news did not go as anticipated. He warns about the high-risk nature of biotech stocks, likening them to lottery tickets, and highlights the potential for large losses if news does not go well. He recommends selling 5-15% of winning investments to manage risk.

Selling SOFI Too Early

• 00:09:01 The speaker regrets selling SOFI too early at a profit of 52-62% before it surged to 16, highlighting the tendency of investors to get frustrated and sell winners too quickly. This is contrasted with the hindsight bias of now seeing it as an opportunity missed, illustrating the difficulty of predicting future market moves.

Not Selling OPEN & BIDF

• 00:12:13 The speaker discusses his errors in not selling OPEN and BIDF at their peaks, despite correctly predicting those peaks. He shares his reasoning for holding onto these investments and emphasizes the importance of recognizing when a stock has peaked, which he often does successfully, while acknowledging his imperfections.

ELAB Reverse Split

• 00:16:22 The speaker addresses the mistake of buying back ELAB after initially taking a loss, leading to another loss when the stock subsequently plummeted and had a reverse split. Despite this loss, he notes that it prevented further losses and maintains a net positive outcome, suggesting a balance between recognizing opportunities and avoiding excessive risk.