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Co-Wise: How do you improve your trading mindset over time?
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Mcsnacks H Tupack joined discussion · Jan 9, 2022 17:27

Perspective

After a stock has made significant gains or losses it’s best to sell part of the investment. How much? Whatever it takes to give you comfort and positivite mindset. Worry and stress will lead to poor decisions. It helps sometimes if I have bought into a stock say at 4.00 and it’s fallen to 3.00. It can seem like it’s insurmountable and that as the stock goes up your not making money just recovering losses. And seeing that negative on your account everyday can get you in the wrong state of mind. Selling it and buying back in at the lower price can help give you a positive outlook as it gains and makes money. This can also keep you from holding it too long because when it recovers to the 4.00 you may not take into consideration why it went down and how it’s now up 25% but instead hope that you can now make a profit. Where as if you sold and bought back in at 3.00 you will have a better sense of how big of a move it has made up and have a better idea of what price to sell at. Nothing really changed only how you saw your investment as being positive or negative. Perspective can change your mindset so that you have a better overall view. The saying goes some see a glass as half full or as half empty.
I will love the light for it shows me the way, yet I will endure the darkness for it shows me the stars.
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Mcsnacks H Tupack
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