Buy and Hold

My strategy is buy and hold even after I bought the stock price drop and turned out I bought high. I will only buy the stock if I fully confident the stock has future prospects and thus even I bought high I convinced the price will eventually go up. I will only sell when the reasons for me to buy the stock disappeared. For speculation purposes, I will only play small and set the profit target and cut loss point and execute the plan with discipline. In this respect I will sell when I bought high and the price drops to my cut loss point.