RE: Hold for gold11 Apr 2023 18:09
stockpickfree
I set an average stock-price at which i am comfortable buying in at, a price at which to top slice at, and then let the rest of my investments go on a free run. Obviously if they hit a real sweet spot i'll sell out completely and move on or leave a small amount in.
Over the last 30 years i haven't experienced the huge losses that you describe, but i am sure they are possible.
I find this less stressful than day-trading or holding short term positions. When day-trading, one is constantly monitoring the market and making quick decisions. By holding stocks long-term, you can avoid this stress and focus on the long-term investment strategy i describe above. It's also very interesting learning about different sectors by investing in a diverse range of stocks.
Doing it this way gives you a pipeline. The stocks i spoke about earlier were purchased 2-3 years ago, from profits from stocks purchased 5 years ago, and so on and so forth.