Warning: My habit of chasing hot stocks left me cold

I used to buy whatever stock was trending online without any research. After a few bad picks, I lost more money than I made. How do you avoid getting sucked into the latest investment fad?

3 comments

3 Comments

felix_butler5d ago

I track stocks I might buy in a Google Sheet. Writing down why it's a good idea usually talks me out of it. Boring method, solid results.

the_abby5d ago

My version is a 'maybe later' list that mostly just gathers dust.

tylerh475d ago

Ugh, been there and it sucks. My hard rule now is a mandatory 24-hour wait before buying anything I see hyped up. That cool-off period lets the FOMO fade so I can actually look at the company. I also set a strict limit on how much "fun money" I can even use for those kinds of picks, so a bad one doesn't wreck my whole plan. It forces you to be picky and saves you from yourself. Honestly, doing this made investing way less stressful for me.