RE: Taught myself a lesson...22 Apr 2021 21:30
It’s crazy, but sometimes it’s actually easier to make decisions when you’re underwater than in good profit. If you’re down, you just need to hold on, but if you’re up, then there is a huge temptation to protect your gain.
For me, I have to decide before hand whether it’s a trade or an investment I’m making, and that sets my decision path. If it’s a trade what’s the target, don’t get attached and sell at the goal. If it’s an investment then I just keep buying and holding to see how far it could go and keep researching so if things go a little south, then you have a solid foundation and it’s less stressful.
But if truth be known I’m a better trader than investor, as I just get too addicted and buy too much. Like here :)