I bought at the peak, experienced big gains on paper but now it is red.
The lesson I learnt is when I sit at unrealised gains of 30%, it is a paper illusion. It teaches me the most critical discipline in wealth building:
The stock market does not pay you for being right. It only pays when you hit sell.
The reason I got trapped is the toxic belief that a skyrocketing stock will go up forever. When DRAM ETF was flying high at USD 81, I did not lock in gains.
I did not implement a trailing stop loss or a profit taking blueprint.
An unrealised loss is a failure of risk management.
As Paul Tudor Jones said:
"Don't focus on making money, focus on protecting what you have."
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- OpulentAΒ·10-18TOPI am pretty new in investing. Still observing and learning from many here. Agreed on that last statement by Paul Tudor [Grin]2Report
- LetsgoTΒ·10-19TOPYes, thatβs what happen to my DBS too. ππ2Report
- HapInvest198Β·10-18TOPThanks for sharing the true lessons learned!2Report
- zumaΒ·10-18thx3Report