The stock market can be a real emotional rollercoaster, and managing gains and losses is one of the hardest parts. Here's my philosophy, which is still a work in progress:
Know Thyself: I understand my own risk tolerance. This helps me set realistic goals and avoid chasing returns that could keep me up at night.
Let Profits Run: I try to let winning trades run, but not blindly. Maybe I'll raise my stop-loss order as the price climbs, locking in some gains while allowing for some upside potential.
Cut Losses Early: I hate selling a stock that dips only to see it rebound later. But I also know that letting losses spiral can be devastating. So, I try to have clear criteria for cutting losses.
Focus on the Long Game: I focus on building a diversified portfolio for the long term, with a mix of growth stocks and more stable holdings.
Learn from Mistakes: I analyze my past trades, identifying why I made certain decisions and what I could have done differently.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments