Quote:
Originally Posted by FurnaceFace
Having been burnt by “I’ll just wait a bit more” and having had the stock drop on me I’m now in the mode that if I’m considering selling some/all then I do it and don’t look back. I’ve lost more, much more, by holding than by selling “too early”. 150% is great. If you were told when you first bought if you’d make even 75% you would have likely been happy. Take the 150 and run or sell your book value or book value plus a little profit and ride the rest if you think there is still room.
I had a coworker years ago who told me when he bought something his broker asked him what percentage increase would make him happy? They’d agree on a number and the broker will put in a sell order for that level. He was happen whenever his broker would call and tell his stock sold as it hit his level. It’s tough to have the discipline to do that and there are likely times where you’ll sell too early but then there are likely moments when you’ll dodge a bullet. Those are more important than selling at 150% instead of 200%.
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Yeah I bought goodfood at the beginning of the pandemic for 3 dollars a share and then sold when it hit $8 because it seemed the world was opening back up again and it already seemed overvalued at 8... now its been hitting $13 and I'm kicking myself but your perspective is definitely the right way to go about trading