RE: When to sell? (Weekend ramble)3 May 2021 19:20
Re When to sell...no one knows THE answer of course. I have a few systems to take the decision-pain-paralysis away. If a stock goes up 50%, I have to sell 20%. If it makes it to 5x my original buy price, then I have to sell 20% of what i have left. If it gets to 10x, then I have to set a stoploss for the next 20%. But the rest, I have to hang on - in theory - forever.
All arbitrary, but I just must sell some on the way up, and I also must hang on in case it's a Big One.
Another guideline I may apply here is from Rick Rule, saying that if your stock rises a whole lot even before the drilling, then you just have to take some winnings because it's such a rare good situation.