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Due to the woes in the stock market my loses are at -4.02% since I started my brokerage account 2 months ago. How long do you hold on to a stock until you know it's time to sell? I don't want to sell, I want to hold until the market gets back on track, but I was just curious.
Due to the woes in the stock market my loses are at -4.02% since I started my brokerage account 2 months ago. How long do you hold on to a stock until you know it's time to sell? I don't want to sell, I want to hold until the market gets back on track, but I was just curious.
It depends how you trade...
I like to use stop loss orders based on support levels.
What stocks do you own?
If you are in the market for the long run, just let your stocks ride, unless you know what you are doing.
Pretty much this. I am 30, so I don't ever feel like it is time to sell. If the market drops any further I will be looking at some bargain companies and putting a decent amount of my 6 month emergency fund in some stocks.
Right now I am keeping my eye on Boeing and Amazon for new investments. I am also considering increasing my position in Walmart, Chevron, and Coke.
If Boeing drops down to 115 I will probably get in. Same for Amazon at 325-330. But then again, I have years and years to go.
Pretty much this. I am 30, so I don't ever feel like it is time to sell. If the market drops any further I will be looking at some bargain companies and putting a decent amount of my 6 month emergency fund in some stocks.
You could also open a margin account and borrow from there instead of tapping your emergency fund.
Your general "pain scale" for the market is:
<5%, pause. Nothing abnormal here.
5-10%, dip. Buy opportunity.
10-20%, correction. Buy opportunity, if you've got the stomach for it.
20-50%, crash. Pack the money up and buy some MBS or government bonds.
50%+, Depression. Buy gold and silver, move dust bowl, end of the world.
Due to the woes in the stock market my loses are at -4.02% since I started my brokerage account 2 months ago. How long do you hold on to a stock until you know it's time to sell? I don't want to sell, I want to hold until the market gets back on track, but I was just curious.
Jonathan, trading stocks/market timing (what you are doing) and investing for the long term are two totally different things..
What do you want to do? Do you want to keep trading or invest? However you answer will depend on what the responses should be....
Short term vs long term is what you really need to look at.
Are you 23 with years ahead or 68 and needing that money ?
I'm keeping my eye on a few stocks to buy if they get low enough.
This. Answer this first, then we'll talk.
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