This post was originally shared in my DT Email Newsletter here.
When I started investing 16 years ago, I’d sell my shares once prices became “too high”. I’d sell my shares if the prices didn’t move at all. Put it this way, I wasn’t very patient.
And I took whatever quick profits I had. Often, it was quick losses.
The funny thing was the more I did this, the more I was trying to chase my own tail. I couldn’t sit still.
I spent more time trying to “time the market”, than to be a true investor who owns assets. I know, it’s hard.
And I can tell you for a fact, most people don’t know when to sell their stocks. Sometimes, they’ll exactly sell it at the wrong time.
Out of the many lessons learnt, I think the one which frequently pulled me out of danger is knowing when to sell a stock.
You see, buying stocks is easy....