Last logged in by Michael Morse : October 24, 2012 05:05 PM
my rules for selling:
1. Sell when there is a purpose.
2. Sell when your strategies disciplines require you to do so.
3. Sell after a huge run up in one day.
4. Sell when you "need" the money for life outside the game.
5. Sell after you do your homework not before(your reason for selling may have changed).
6. Remember the 30 day rule when selling. if it's been a few days after the news has already been announced, and today is day 30.....wait 1 more day to make your sale. it's better to be able to use the loss against your gains than just kiss that opportunity goodbye.
7. if you think your being a pig, sell some....you can always let the rest stay in play.
8. if your catalyst has passed for the reason you bought....sell it. (jimbo's rule: don't turn trades into investments)
9. to get the "best value" for your investment you must play in the waves. you have to sell so you have cash to buy the dips.
10. Selling is personal. everyone sells for different reasons, with different time horizons and at different prices. every time you see a stock change price. someone has just sold it to a buyer.
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