Originally Posted by Hammock Parties:
Here's what works for me.
1. If the stock is anywhere near the 52-week high, don't buy.
2. Decide your exit point before you buy. This prevents you from reacting emotionally in the moment.
3. The more you invest, the quicker you need to think about getting out. If it's near the 52-week high, or over it, and you've made a few thousand, don't get greedy. This destroyed me with NKLA. I could have 10k profit. Instead I made a couple grand.
4. If the stock tanks, just hold til it goes back up, or you recoup enough that you're comfortable with the loss.
You're only going to get burned bad if you try to grab onto something emotionally anyway, at least in my experience.
This is what happened to me on NAK and GNUS. I'm holding both because I figure at least one is going up, and I've made enough on my other shit that I don't care about these losses now. They're worth holding at this point just to see if they go up, as they did before.
Above all remember this: STONKS ONLY GO UP!!!!!!!! :-)
Did you forget your first rule when you bought CCIV?
Are you skipping rule 2 now that CCIV has rocked way past it’s previous 52 week high?
You’re contradicting yourself. Can’t be rules if you don’t follow them. [Reply]
Originally Posted by Hammock Parties:
Here's what works for me.
1. If the stock is anywhere near the 52-week high, don't buy. BAD ADVICE
2. Decide your exit point before you buy. This prevents you from reacting emotionally in the moment. GOOD ADVICE
3. The more you invest, the quicker you need to think about getting out. If it's near the 52-week high, or over it, and you've made a few thousand, don't get greedy. This destroyed me with NKLA. I could have 10k profit. Instead I made a couple grand. BAD ADVICE
4. If the stock tanks, just hold til it goes back up, or you recoup enough that you're comfortable with the loss. BAD ADVICE
You're only going to get burned bad if you try to grab onto something emotionally anyway, at least in my experience. GOOD ADVICE
This is what happened to me on NAK and GNUS. I'm holding both because I figure at least one is going up, and I've made enough on my other shit that I don't care about these losses now. They're worth holding at this point just to see if they go up, as they did before.
Above all remember this: STONKS ONLY GO UP!!!!!!!! :-) BAD ADVICE
Originally Posted by Hammock Parties:
Here's what works for me.
1. If the stock is anywhere near the 52-week high, don't buy.
2. Decide your exit point before you buy. This prevents you from reacting emotionally in the moment.
3. The more you invest, the quicker you need to think about getting out. If it's near the 52-week high, or over it, and you've made a few thousand, don't get greedy. This destroyed me with NKLA. I could have 10k profit. Instead I made a couple grand.
4. If the stock tanks, just hold til it goes back up, or you recoup enough that you're comfortable with the loss.
You're only going to get burned bad if you try to grab onto something emotionally anyway, at least in my experience.
This is what happened to me on NAK and GNUS. I'm holding both because I figure at least one is going up, and I've made enough on my other shit that I don't care about these losses now. They're worth holding at this point just to see if they go up, as they did before.
Above all remember this: STONKS ONLY GO UP!!!!!!!! :-)
This reads as if the "investor" has only traded during a historic bull market. [Reply]
