Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top
How did you deal with losses in the stock market?
Views 103K Contents 489

My Story during the Covid-19 Market Crash

During March of 2020, the stock market crashed when the whole economy basically shut down due to Covid-19. One of my friend saw this comming and told me to sell everything and buy back in later, but I didn't listen. My profolio was down about 30% to 40%, I did not panic sell. Instead, I begin to buy a little by little everytime the market/stocks drops by more than 5% to 10%, during this time, I have to say it has been hard both emotionally and financially, when I saw the stock market keep crashing day after day with no signs of recovery. However, when the feds  stepped in to help by lowering interest rates and  buying bonds, the market showed signs of recovery, thus feels like two heavy block of stones have been lifted off my shoulder seeing signs of market recovery and hope was the best feeling at the time. The market eventually did recovered and it even hits all times high, my friend that told me to sell everything, well he never brought back in the market. My profolio was up  between 50% to 114%, which is the highest it has been. The lessons I learn during this market crash from Covid-19 is that you can never time the market, no one know where the bottom is, and the best time to buy stock is when it crash. Instead of listening to my friend by selling the stocks I  loved and believe in, why not buy more?. So during this years the feds announced they gonna raise interest rates and cut back on spending to combat inflation, and with the spread of new variants like the omicron and deltacron, as we can see the market is having a huge sell off, I will be buying the dips. I know I will be in a short term pain while the market is crashing, but I'm in it for the long term gains and that's all it matters. I suggest everyone should also buy the dips on good company they love. This is truly the time where transfer of wealth begins.
My Story during the Covid-19 Market Crash
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
30
8
1
+0
3
Translate
Report
52K Views
Comment
Sign in to post a comment
  • Alleyboi : Very encouraging. Thanks

  • ru1too : you can pay alot buying every dip. I watch one crypto drop from 8000 to 2700 with people buying dips all the way down.  I waited until it found what looks like a bottom but I usually wait until it looks like a reverse in trend.

  • Meta BullOP ru1too: I not talking about Crypto here. Crypto is alot more volatile than stocks. I'm talking about good value stocks at a cheap/fair price, so far I been doing pretty good in both my brokerage account and my Roth IRA.

Always buy the dips and Never sell at a loss.
33Followers
11Following
48Visitors
Follow