Personal Story of Losing Money From a Tweet

Let me tell you a personal story of losing money from a tweet.

Back in 2018 I learned how to do some options trading and started shorting stocks.

Options trading is basically making bets on whether you think a stock price will go up, stay the same or go down.

So, yes, it’s basically gambling.

Anyways, I started options trading and put some shorts on Tesla, which at the time had a much lower share price than it does now.

I didn’t really follow Twitter at the time much except to do the marketing for this blog.

However, after a few lucky trades where I made money, I put in a trade and Elon Musk tweeted his famous tweet where he said he was considering making Tesla a private company. The stock price shot up overnight and I lost thousands of dollars.

It was a painful lesson that gambling was not what I wanted to be doing with my money.

I wish that had been the end of it but it took me a few more bad trades and more thousands of dollars lost to finally stop options trading (the gambling kind of options trading).

I will always remember that tweet though.

Now if I want to gamble, I know I’m doing it, and gamble $25 max.

I make a lot more money now =)

Leave a comment below!