Let’s take stocks as an example. Why would anybody let a stock go down to $0? I would never let that happen. Have you heard about putting a trailing stop loss on your stocks/etfs? Probably not or you would know ways to prevent your stocks to go down to a $0 value. You can put in a $ value or percentage value to trigger a sale. This is 1 way to take emotions out of selling something you really like.
When I leave the country for weeks/months and will have no internet, all my stocks/etfs have trailing stop loss trades on them.
For funds, I do something different because you can’t apply a trailing stop loss.
If people are nervous about investing in the market, or don’t know what they are doing, you should not do stock trading. But if you haven’t taken the time to learn the basics of investing, or learned from your mistakes in your early trading/investing days, it might be too late to start now. Big screwups now and you might not be able to recover from them
Last edited by rsmurano; 10-26-2024 at 04:30 AM.
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