• oppy1984@lemm.ee
    link
    fedilink
    English
    arrow-up
    10
    arrow-down
    2
    ·
    22 days ago

    Only if you need the funds short term, if you are a ways off from needing the funds then hold what you’ve got and start building a cash reserve to buy more shares when it’s low.

    • bluewing@lemm.ee
      link
      fedilink
      arrow-up
      4
      ·
      22 days ago

      That’s what most people don’t get about investing-- there is money to be made in both market directions. The rich understand that.

      • oppy1984@lemm.ee
        link
        fedilink
        English
        arrow-up
        5
        arrow-down
        1
        ·
        22 days ago

        Yep, when I started investing about 20 years ago I read as much as I could, one thing that always stuck with me was a Warren Buffet quote “be fearful when others are greedy and to be greedy only when others are fearful”.

        That’s generally how I approach investing in stock and Bitcoin. There are exceptions of course, but that’s the general plan. This stock or whatever isn’t failing, it’s on sale.

    • QuarkVsOdo@lemmy.world
      link
      fedilink
      arrow-up
      2
      ·
      21 days ago

      I think setting a stoploss and then just stay in/ cash out automaticly is also completely viable (as long as your trading fees of cashing out and re-enter are well covered by total earnings so far)

      Taxes are another thing though.

      • oppy1984@lemm.ee
        link
        fedilink
        English
        arrow-up
        1
        ·
        21 days ago

        That is a totally viable method, it’s just not the one I want to pursue.

        Also, yeah I don’t even want to think about the taxes…