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12-07-2012, 01:11 PM
Currently I'm reading the book "reminiscences of a stock operator". 1/3 through the book
2 things that caught my attention.
1) The money is in the big swing (Do not sell too early. Hold on to your position in the uptrend. Thats where the big money is.)
2)If you are right, pyramid up to boost the gain. If wrong, cut straight away to minimise loss.
Selling half when your stock double make it seems that you are still not sure if you are right. Yes, one will find some comfort if the stock goes down. But one will also feel the agony of missing out on profit if it continue to climb.
But different people have different mindset/methods and no one way is best for everyone. In the end, nobody can agree which method is the best. Just do what is comfortable to you(Hopefully it is also profitable).
Purely my worthless amatuerish thoughts...
2 things that caught my attention.
1) The money is in the big swing (Do not sell too early. Hold on to your position in the uptrend. Thats where the big money is.)
2)If you are right, pyramid up to boost the gain. If wrong, cut straight away to minimise loss.
Selling half when your stock double make it seems that you are still not sure if you are right. Yes, one will find some comfort if the stock goes down. But one will also feel the agony of missing out on profit if it continue to climb.
But different people have different mindset/methods and no one way is best for everyone. In the end, nobody can agree which method is the best. Just do what is comfortable to you(Hopefully it is also profitable).
Purely my worthless amatuerish thoughts...