Quote:
Originally Posted by lewdog
The only thing I'll say about you is you have no problem selling for profit, which is great. You don't have some dumb price target in your head, holding until it gets there. A nice profit and sell, even if the stock goes higher after you sell you can't look back. There's always more fish in the sea to make gains and no one ever went broke selling for profit!
But do not confuse holding something because you "know if will turn around" as a sound strategy. Know when to cut losses and move on.
|
I had a problem with AMC. I could have made so much when it was in the 12-13 range, but got greedy and held it all the way back to the 9's and panic-sold for a measly $75 profit right before it hit my average. $75 could have been $10k.
I admit I do have a problem with selling at a loss, no denying that. My stubborn-ass would rather hold a stock until a company goes bankrupt than sell for a loss. I'm still down about 15% in one portfolio, but I really believe everything in it with the exception of maybe APHA will rebound and end up turning a nice profit.