Investment or Trade?
After reading Scott’s posts this morning it brought up a point that was posted last week.
Don’t turn a trade into an investment, and don’t turn an investment into a trade.
When going into a trade, you should set a clear goal. Don’t just protect your downside, but determine what your intended target is and look to get out at that point. If it hits your goal in terms of percentage return or share price, consider it as a successful trade and move on.
Scott can be equally critical of me with regard to protecting my downside. I am the type who hates to miss the gain and will hold something, or cost average down, for far too long.
Good luck with your own trading. Set your goals.
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