Leaving Money on the Table?

in #finance3 months ago


Currency pexelsphoto164560.jpeg

Source

One of the reasons that I have never fully moved into trading short term and much less, Day Trading, is because I feel like I always leave money on the table. I too often sell winners too soon and hold on to losers too long. Recently, I have had a hard time to find places to allocate capital on the upside given the economic outlook I have and the valuations seen on the market. However, I have done pretty good in selecting a few long positions.

Since the market continued its uptrend, I started to take some profits in my portfolio as they have reached or even surpassed my targets. One of those positions was in GameStop (GME) which I was able to buy below $5. It was highly speculative of me as I was betting that the new generation of gaming consoles will be a catalyst for the stock price. I was happy to be on the right side of the trade despite fundamentals. However, I sold around $20 which was still much higher than my expectation and sooner as well.

I rarely look back at my trades to avoid judging my performance. However, being stuck to the latest business news networks and newsletters, I could not avoid seeing the jump past $40! Talk about leaving money on the table! However, I still think I did the right thing based on my plan as I stuck with it. Most of these plays continue to increase as they have been squeezing short positions aggressively.

It has gotten me thinking more about other positions that I have been looking to take some profits. It has also got me thinking of some losers I have in the portfolio that I have gotten wrong and still am holding. I guess I should look more to some of my trades from the past to see how off I was on the low and high after the exit. It will be telling as I am sure there is always money left on the table. The offset is risk management as I still believe that taking profits is just as important as avoiding losses; however, I have to commit to both sides!

Discord: @newageinv#3174

Chat with me on Telegram: @NewAgeInv

Follow me on Twitter: @NAICrypto

The following are Affiliate or Referral links to communities that I am a part of and use often. Signing up through them would reward me for my effort in attracting users to them:

If you are like me and interested in continued personal growth, invest in yourself and lets help each other out by leveraging the resources Minnowbooster provides by using my referral link

Start your collection of Splinterlands today at my referral link

Expand your blogging and engagement and earn in more cryptocurrencies with Publish0x! Sign up here!

The best new browser to protect your privacy while still being faster and safer. Try the Brave Browser today with my affiliate link here: https://brave.com/wdi876

Try the Partiko Mobile app to engage while on the go with my referral link

Get started on the latest game on the blockchain Drug Wars by signing up here!

If you select one of my above referral links, I will sponsor a @steembasicincome SBI in return. Let me know if you do so in the comments below!

DISCLAIMER: The information discussed here is intended to enable the community to know my opinions and discuss them. It is not intended as and does not constitute investment advice or legal or tax advice or an offer to sell any asset to any person or a solicitation of any person of any offer to purchase any asset. The information here should not be construed as any endorsement, recommendation or sponsorship of any company or asset by me. There are inherent risks in relying on, using or retrieving any information found here, and I urge you to make sure you understand these risks before relying on, using or retrieving any information here. You should evaluate the information made available here, and you should seek the advice of professionals, as appropriate, to evaluate any opinion, advice, product, service or other information; I do not guarantee the suitability or potential value of any particular investment or information source. I may invest or otherwise hold an interest in these assets that may be discussed here.