Dont listen to them! Dont HODL!
Know when to cut your losses! If your stock have been dropping a lot and do not show much sign of recovering, maybe it's time to sell it and invest these sum into something that is growing steadily. For instance, at the start of the year, I got $NIO Inc (NIO.US)$ for around $45 before it shot up to the peak of $66 until the China market crackdown occured. My slight profits became massive losses instantly. Many say to HODL due to the long term growth in the EV industry. However, after keeping for many months, I was still incurring much losses. One technique I used was to compare to its fellow competitor $XPeng (XPEV.US)$ to see if it was just the whole of China EV market or just NIO being a weak stock. After seeing how Xpeng slowly grew and even overtook NIO, I decided to cut my losses and got rid of NIO to reinvest in other growth stocks like Microsoft.
So, don't HODL if you know during that time of losses, you could be earning slight profits in other stocks!!!
So, don't HODL if you know during that time of losses, you could be earning slight profits in other stocks!!!
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Jwlee : Don't listen to others, have ur own decision on profit taking target and stop losing target
teahunch OP Jwlee : Best advice ever!!
MoMa Doge : Yes! Fully agreed which I learn after been multiple bags holder. You can still reinvest after you gain some profits from other position. Who knows you may be are-entering at lower price instead of holding to see it dip.
teahunch OP MoMa Doge :
MoMa Doge teahunch OP : Bro, follow @Tupack H Mcsnacksto get some daily inputs. So far the dosages are just too good to be miss. Sure he can guide you to the correct direction. Good luck and all the best!
teahunch OP MoMa Doge : Thank youu!
lusy bubb : Setting a profit stop and loss point is one of the best ways to control risk. The purpose of setting a profit stop is to know how much profit you are making, so as not to continue to be in the market and eventually lose your profits. Set a stop loss point. It is to avoid the expansion of the loss, which causes the mentality to be affected by emotions, and the more the loss, the more
Spearhead : Agreed totally.