INVESTING PHILOSOPHY25 Nov 2020 15:45
1 do not invest unless you can afford to lose ALL the money .This goes for ALL stocks. ftse 100 stocks can and do go bust.
2.Do NOT set up a stop loss. By all means set alerts but do not have an automatic stop loss-you lose control.
3.Mentally write off the investment -assume you have lost your money-you can afford it
4When you are investing do not hit it in one slug.Keep some ammo for set backs.
5. Ignore bulletin board comments - use the boards to get info such as a news report or broker report or other research that has a link you can verify..
6 Dont be overconfident you are right . Spread the risk over a handful of stocks.
7 Dont sell too soon - a 50 % rise may only be the start.
8 Reassess the risks every now and then based on latest info, but give the investment a chance. Sometimes that can be longer than you would think.
That is my tuppence worth - but the biggest points in my view are the first nd third - you have to be emotionally detached and dispassionate-think SPOCK!
I have to say this Board is full of emotionally attached people -it doesnt work.
I have built a position here and will continue to hold for a few months- based on a risk assessment . All the chatter does not affect that assessment- an RNS may.