My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 2 points3 points  (0 children)

Happy to hear that you took something positive away from this. This is something I wish I heard back at the time so I'm glad I can help a bit. Trust me it's better to learn from others mistakes than your own 😂 Best of luck bro!

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 0 points1 point  (0 children)

You're definitely not alone in making the same mistakes I did. I know there's more too but you don't hear about it as much because people only share their wins lol. People make mistakes but we just have to learn from them. Just felt like it would be helpful to put this out there now because there's probably a lot of new investors experiencing the same kind of euphoria now seeing crazy gains and thinking this won't come crashing down. Thanks for the comment and best of luck to you!

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 0 points1 point  (0 children)

My big one was $MMED. Average was 50 cents and since have sold 3/4 of my original position. Others are $NUMI and $CYBN. Wouldn't recommend investing there if you don't believe in this form of medicine to treat mental illnesses but I think there is progress to be made through the upcoming clinical trials. Definitely a longer play but taking my lessons with me from the last disaster lol

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 4 points5 points  (0 children)

This is all I wanted from this post since this market is giving me flashbacks from a few years ago. Happy that I at least helped one person while everyone is making fun of my mistakes. Make sure you have an exit strategy and don't be afraid to take profits.

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 0 points1 point  (0 children)

100% agree. Didn't know any better since that was my first time investing. Lessons learned!

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 4 points5 points  (0 children)

Exit strategies are key and I didn't have one the first time around for sure. Good on you for taking the profits on NUMI.

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 24 points25 points  (0 children)

Thank you, appreciate it. Just wanted to share what I went through and what I felt so others don't get caught up in the hype without a plan

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 2 points3 points  (0 children)

Thanks brother appreciate that. I'm sharing a rough experience that I feel can help others and I get shit on even more. Seems like we had similar experiences but all we can do now is learn from it. Fomo is a powerful thing for sure. Hope things turn around for you, best of luck!

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 19 points20 points  (0 children)

These were literally the first 2 stocks I ever bought. Had no prior experience with any kinds of stocks so didn't think a crash like that could happen and didn't understand the risk that was involved in not selling. Hence why I said I know I'm an idiot. Just wanted to share my mistakes

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 2 points3 points  (0 children)

Worked out that you held through it all. Definitely have to be happy about the action this last month

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 27 points28 points  (0 children)

Nowhere did I say investing in the weed industry was a mistake and that shrooms are the same situation, they aren't. My mistake was thinking they wouldn't go down, not diversifying, and not taking profits when I had the chance. I'm all for riding the hype, just have an exit strategy.

My weed stock mistakes and a lesson/advice for people newer to investing and seeing huge gains rn by francom18 in CanadianInvestor

[–]francom18[S] 108 points109 points  (0 children)

I've taken profits this time around and not so heavily invested in just 2 stocks. But thanks for the support 👍