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All,
My first reaction is to tell Dee that if you're ever to become successful the sentiments and attitude must be changed - "I'd hate to sell after loosing about 80%" seems to represents many (common) mistakes. Dee, I can sympathize but anyone will tell you that approach is not the productive one. I suppose a mistake must be defined in terms of your strategy but since you are asking for strategy advice it feels an appropriate label.
I wanted to say that you've gotta have a stop that defines your initial risk and then an exit strategy to keep profits or at least improve losses (as compared to the initial risk). BUT, I then noticed I'm on the investing board and I don't know how the conversion works from trading to investing. As an example say someone intiates a position in BAC at $40-something and while it's a divvy play which changes attitudes on price moves, how do you warrant or plan for declines in investments of 25% plus? Do you implement postion sizing principles as a percent risk of portfolio just as in trading?
Maybe someone can shed some light on this so Dee and I can learn together.
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