Did you buy into meme stocks like AMC Entertainment believing they would go to the moon? Hopefully, you got out early enough, not to burn your fingers or even lost your shirt. My guess is, you even added to your position and you were buying the dip. AMC Entertainment is now trading almost 85% off its all-time highs.
As far as trading is concerned, you have a lot to learn. There is a lot more to the trading game than simply buying AMC holding on forever and adding by buying the dips. Playing the financial markets does not turn you into a skilled trader any more than playing on the same golf course as Tiger Woods would turn you into a world-class golfer.
If you were inexperienced enough to get caught up in meme stocks, you’re probably also young enough to have: time! With time, you can make up for your inexperience.
Take a hit and dump your AMC position or what is still left over and start saving 10% of your income, this month and every month thereafter and buy good quality growth and value stocks.
If you need help, contact me. I could be your mentor/coach to guide you safely through stormy waters.
Sven Franssen