"Beh! Ive been investing for years and cant make a
Post# of 1584
Here's the problem... Lets say your beloved stock jumped high enough to put $1 million in your bank account. It then jumped higher and higher..
$2 million
$3 million
Youre peeing your pants in excitement and not caring as images of peace and relaxation flood your brain. You can now pay off all your bills, tell your boss to put it where the sun dont shine..
..You get to tell your spouse when he/she comes home.. its going to be GREAT!
But DID YOU SELL and take the capital gains???????????????????
The price then plummets leaving your brokerage account with $1,300.
You head back to work knowing for a split second you were the richest person in that office and could have had zero money problems for the rest of your life.
If you dont sell, you dont have the money.
If you invest with emotion, youve already lost.
You will rarely sell at the 'high'.
If you think its difficult staring at your computer year after year, hoping your stock will skyrocket.... prepare yourself for when you see the number $1,000,000 in your account burning a hole in your eyeballs.
Your hands shake uncontrollably, your head is filled with thoughts such as, "DO NOT SELL IT WILL GO HIGHER!" The price starts to drop.. youre freaking out.
You feel an overwhelming sense of dread when you logical brain takes over and decide to take the million dollars.
No matter how fast you type, you feel like youre not typing fast enough , your phone rings distracting you which makes you even more anxious.
You make a typo, so you have to start over, all the while the stock price jumps even higher which makes that voice scream, DO NOT SELL IT WILL GO HIGHER!"
You finally put in your Sell Order and press 'Enter'.. covered in sweat.
..and you think its difficult to buy 'gift shares' on the dips? If you still have not made $100 in capital gains... how will you be prepared when your account shows $1 million ?
Prepare yourself.
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.