<<If it doubles by tomorrow, I'd probably be foolish not to sell, right?
GB, I can't tell you how many times in the past month I've picked stocks that have double, tripled and quadrupled before my very eyes and then came crashing down because I didn't have the tact to sell on my gain. <<
Andrew-- I have the same problem! I has 10k in gains today to end up breaking even.
I think the reason not to sell is one of GREED. I think-- "It will go higher..."
Also, I have the problem of breaking my rule of selling when I hit a 10% loss. I think this comes from FEAR of FAILURE.
I copied all my trades from Quicken into Excel and have gained 33% in a month-- I then added and "IF" function and found if I had sold at a 10% loss I would have had a 100% gain!
WOW!
And then add in those BIG gains that I did not take (PNLK (3rd time), PCSN, FAMH, IFLY, OZEMY, RNTK, -- well the list goes on...) and I could probably made 150-200%.
GaBard-- I would like to hear from you on this too!
I guess it boils dwon to getting the emotions of GREED and FEAR of FAILURE out of my trading-- correct?
Read my Profile-- I wrote the "Damn, if..." when I signed in '86... |
