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SVTPerformance's Chain of Restaurants
Road Side Pub
Altcoin Discussion
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<blockquote data-quote="04SVT_COBRA" data-source="post: 15789784" data-attributes="member: 63777"><p>Buy the dips, sell the rips. Take profits along the way. Nobody ever went broke taking profits, but always leave some to catch a big move if it comes.</p><p></p><p>When I was day trading last year there was a ticker (can't remember it for the life of me right now) that I purchased at the EXACT right moment. It was the absolute perfect entry moments before it took off on a short squeeze. I was positioned not that big, but I was up about $1,500 in less than one minute. I let my emotions come in, sold it all, and watched it continue to climb. Long story short, I left about $25k on the table because I sold all of it in a panic to lock in profits.</p><p></p><p>Vice versa, I have done the opposite where I let FOMO (fear of missing out) make me rush into something, only to see it tank right after I get in.</p><p></p><p>Always have a plan, don't let emotions make your decisions, and always take profits.</p><p></p><p>I would HIGHLY recommend the book "Reminiscences of a Stock Operator", it is absolute gold.</p><p></p><p><em>"It sounds very easy to say that all you have to do is to watch the tape, establish your resistance points and be ready to trade along the line of least resistance as soon as you have determined it. But in actual practice a man has to guard against many things, and most of all against himself – that is, against human nature"</em></p></blockquote><p></p>
[QUOTE="04SVT_COBRA, post: 15789784, member: 63777"] Buy the dips, sell the rips. Take profits along the way. Nobody ever went broke taking profits, but always leave some to catch a big move if it comes. When I was day trading last year there was a ticker (can't remember it for the life of me right now) that I purchased at the EXACT right moment. It was the absolute perfect entry moments before it took off on a short squeeze. I was positioned not that big, but I was up about $1,500 in less than one minute. I let my emotions come in, sold it all, and watched it continue to climb. Long story short, I left about $25k on the table because I sold all of it in a panic to lock in profits. Vice versa, I have done the opposite where I let FOMO (fear of missing out) make me rush into something, only to see it tank right after I get in. Always have a plan, don't let emotions make your decisions, and always take profits. I would HIGHLY recommend the book "Reminiscences of a Stock Operator", it is absolute gold. [I]"It sounds very easy to say that all you have to do is to watch the tape, establish your resistance points and be ready to trade along the line of least resistance as soon as you have determined it. But in actual practice a man has to guard against many things, and most of all against himself – that is, against human nature"[/I] [/QUOTE]
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