March 3, 2021
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Transcript

Felix Frey:

I'm going to preface this by saying, I am sure that people are going to resonate with what you are about to tell us, I'm sure people are going to have felt similar feelings and emotions in similar moments. I'm sure I'm going to have comments after you say what you say, but I want you to tell your story and what you did, how you did it, how you made money or lost money, but whatever it is, you tell the story. And tell us how you were feeling, because this is very, very good. Go ahead.

Marko Rojnica:

So RKT was at $29 yesterday, and I thought, you know, this is catching some steam. I've seen on swaggystocks.com that they're talking about it on wall street bets. And I say, you know, why not buy some options? So I bought $30 calls in March 5th and then March 19th as well. So I had two lots, one March 5th RKT Call Options, one on March 19th RK Call Options. I paid $2 for one and $3.50 For another. So I was in $5.50. As we were on the podcast, I was, you know, with my left eye, I was looking and it was jumping, and by almost by close, I was up from $550 to $2,700. So I was up $2,200 in four hours. But I didn't want to sell. I thought this might be the next GME. I might make more. I got really greedy, I admit. And while I was watching the pre-market the entire morning I was anxious, as my RKT stock was going down. It kept going down once it opened and the end of the story is that I only made $100.

Felix Frey:

By the way, you're not the only one. There's millions of people that do this. I do it. It's the human emotion part of the game, okay? You know the funny part is that yesterday right before the podcast, you told me: "okay. I'm in this trade." I could feel the confidence and the excitement. I can read people and I thought, something's going on. I go, "what are you doing?" You're watching this thing on the side, and you say: "I just made $2,000." I said, "on what?" And you said "on RKT, I just bought some"

Felix Frey:

And I said, okay. I said, you blew by all your stop signs. I said, "did you sell any?" You said: "no, no, no I'm Yolo man." And I'm thinking Yolo, oh God, he got the fever. I know I'm trying to never tell anybody what to do, that's not what I do. But what I do try to do in those situations is try to remind you that you blew about three stop signs. You're going about 150 miles per hour. Your heads out the window, screaming like, "yeah!" And I'm thinking to myself, this is a train wreck about to happen or car wreck. Right?

Felix Frey:

Today I asked what happened, I said: "did you get out of any?" You said no. Listen, it's not the end of the world, it's not a big deal. You made a $100, fine. $100 and call it a $2,500 lesson. So I said: "remember this moment. It's better that you lose 2,400 bucks. Then when you take your account to a $100,000, $200,000 and you lose $150,000, you don't want to do that." You know, when I see people riding through the stop signs, I'm thinking: "what happened to the months and months of me telling you... at a hundred percent, take a little bit off."

Felix Frey:

What happened is, that little voice in your head starts start telling you: "this is the one we're going to make $100,000 from." And, and you know what I always tell people is this: "if you count all the time, say you just clicked $500, a $1,000, $1,500... Instead of just waiting for that one to go to the moon, you're probably better off and you'll probably stay sane because remember, this is the most important part of the game is to make sure that you're focused." So what you did is not unlike anything. I mean, there's gotta be a million people doing the same thing. The lesson is to try to recognize it, recognize the feelings, because the it's an emotional roller coaster. It is a high, like you've never believed.

Felix Frey:

Some people are doing this with $100,000. They take $20,000. It turns into $100,000, and they're riding this thing. And these moves become very big. And the other thing that I'm trying to especially get you not to get used to are these big $2,000, $3,000, $4,000 wins. It's like the worst thing that can happen if you don't have it up here (points to head). If you're not strong up here, the worst thing that can happen is that you make $20,000 quickly. I mean, in like two days,then you don't want to work no more, nobody wants to do anything. And you're just like, this is the easier I get to sit down in my room and do what I want to do and have fun and listen to music. It's the worst thing there is.

Felix Frey:

This is not an easy game. And the market is evil. It knows how to take that money back. You have to think a bit, think about it as a sport and try to be careful. And that's why we have this plan and why we're trying to follow this plan, but you know, I myself have done that in my life a million times. I start thinking: "this is the one I'm playing with a lot more money and thinking, this is the one!" And while you're doing that, the money doesn't matter on the way up. It doesn't matter. It's like, who cares? Now I'm playing with the house's money. But what happens is when you get hit in the end, it goes from like $2,000 to up $600... By the way, the other part of story is we got on the phone earlier.

Felix Frey:

We were talking only about an hour and a half ago. And I said, you know, you're up $600, $700, just take it off, take half off. And before you know, it's 20 minutes later, it was down a hundred. What happens is you start thinking that it's going to go. And you start playing that game of, "I think it's going to come back." That's a hard game to play. So, look, lesson learned, you pay $2,500. That was the market giving you a lesson. You got out making $100. So you should be happy with that lesson. Think about it as... You really learned something. And that in fact money does matter, right? You're doing this to make money. And so you want to make sure that you can always rule number one which is to try to take the money off the table.

Felix Frey:

That's why we have the 100% exit, right? If you would take out a 100% exit, I would tell you, then go watch it. It's fine. You took your money out. No worries. Okay. So anyway, lessons learned. But I think that'll resonate with a lot of people that are watching this and have done it themselves. It's what makes us human. That was good. I liked that. I like that story. Good. Thank you for sharing that.

Other Ideas From This Episode

MARKET ANALYSIS

BAC & C

AA & THIS STOCK

Find Your Next Idea


Transcript

Felix Frey:

I'm going to preface this by saying, I am sure that people are going to resonate with what you are about to tell us, I'm sure people are going to have felt similar feelings and emotions in similar moments. I'm sure I'm going to have comments after you say what you say, but I want you to tell your story and what you did, how you did it, how you made money or lost money, but whatever it is, you tell the story. And tell us how you were feeling, because this is very, very good. Go ahead.

Marko Rojnica:

So RKT was at $29 yesterday, and I thought, you know, this is catching some steam. I've seen on swaggystocks.com that they're talking about it on wall street bets.

Marko Rojnica:

And I say, you know, why not buy some options? So I bought $30 calls in March 5th and then March 19th as well. So I had two lots, one March 5th RKT Call Options, one on March 19th RK Call Options. I paid $2 for one and $3.50 For another. So I was in $5.50. As we were on the podcast, I was, you know, with my left eye, I was looking and it was jumping, and by almost by close, I was up from $550 to $2,700. So I was up $2,200 in four hours. But I didn't want to sell. I thought this might be the next GME. I might make more. I got really greedy, I admit. And while I was watching the pre-market the entire morning I was anxious, as my RKT stock was going down. It kept going down once it opened and the end of the story is that I only made $100.

Felix Frey:

By the way, you're not the only one. There's millions of people that do this. I do it. It's the human emotion part of the game, okay? You know the funny part is that yesterday right before the podcast, you told me: "okay. I'm in this trade." I could feel the confidence and the excitement. I can read people and I thought, something's going on. I go, "what are you doing?" You're watching this thing on the side, and you say: "I just made $2,000." I said, "on what?" And you said "on RKT, I just bought some"

Felix Frey:

And I said, okay. I said, you blew by all your stop signs. I said, "did you sell any?" You said: "no, no, no I'm Yolo man." And I'm thinking Yolo, oh God, he got the fever. I know I'm trying to never tell anybody what to do, that's not what I do. But what I do try to do in those situations is try to remind you that you blew about three stop signs. You're going about 150 miles per hour. Your heads out the window, screaming like, "yeah!" And I'm thinking to myself, this is a train wreck about to happen or car wreck. Right?

Felix Frey:

Today I asked what happened, I said: "did you get out of any?" You said no. Listen, it's not the end of the world, it's not a big deal. You made a $100, fine. $100 and call it a $2,500 lesson. So I said: "remember this moment. It's better that you lose 2,400 bucks. Then when you take your account to a $100,000, $200,000 and you lose $150,000, you don't want to do that." You know, when I see people riding through the stop signs, I'm thinking: "what happened to the months and months of me telling you... at a hundred percent, take a little bit off."

Felix Frey:

What happened is, that little voice in your head starts start telling you: "this is the one we're going to make $100,000 from." And, and you know what I always tell people is this: "if you count all the time, say you just clicked $500, a $1,000, $1,500... Instead of just waiting for that one to go to the moon, you're probably better off and you'll probably stay sane because remember, this is the most important part of the game is to make sure that you're focused." So what you did is not unlike anything. I mean, there's gotta be a million people doing the same thing. The lesson is to try to recognize it, recognize the feelings, because the it's an emotional roller coaster. It is a high, like you've never believed.

Felix Frey:

Some people are doing this with $100,000. They take $20,000. It turns into $100,000, and they're riding this thing. And these moves become very big. And the other thing that I'm trying to especially get you not to get used to are these big $2,000, $3,000, $4,000 wins. It's like the worst thing that can happen if you don't have it up here (points to head). If you're not strong up here, the worst thing that can happen is that you make $20,000 quickly. I mean, in like two days,then you don't want to work no more, nobody wants to do anything. And you're just like, this is the easier I get to sit down in my room and do what I want to do and have fun and listen to music. It's the worst thing there is.

Felix Frey:

This is not an easy game. And the market is evil. It knows how to take that money back. You have to think a bit, think about it as a sport and try to be careful. And that's why we have this plan and why we're trying to follow this plan, but you know, I myself have done that in my life a million times. I start thinking: "this is the one I'm playing with a lot more money and thinking, this is the one!" And while you're doing that, the money doesn't matter on the way up. It doesn't matter. It's like, who cares? Now I'm playing with the house's money. But what happens is when you get hit in the end, it goes from like $2,000 to up $600... By the way, the other part of story is we got on the phone earlier.

Felix Frey:

We were talking only about an hour and a half ago. And I said, you know, you're up $600, $700, just take it off, take half off. And before you know, it's 20 minutes later, it was down a hundred. What happens is you start thinking that it's going to go. And you start playing that game of, "I think it's going to come back." That's a hard game to play. So, look, lesson learned, you pay $2,500. That was the market giving you a lesson. You got out making $100. So you should be happy with that lesson. Think about it as... You really learned something. And that in fact money does matter, right? You're doing this to make money. And so you want to make sure that you can always rule number one which is to try to take the money off the table.

Felix Frey:

That's why we have the 100% exit, right? If you would take out a 100% exit, I would tell you, then go watch it. It's fine. You took your money out. No worries. Okay. So anyway, lessons learned. But I think that'll resonate with a lot of people that are watching this and have done it themselves. It's what makes us human. That was good. I liked that. I like that story. Good. Thank you for sharing that.

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