Thread: Before You Buy Your First Stock

Before you buy your first stock, you must have an exit strategy. Only fools buy and hold. And really it is more like buy and pray. You can buy a great stock and it shoots up but until you sell it, you have done nothing but buy the stock. Remember the money only goes in your pocket when the stock is sold. You must have some indicator or event that tells you when to exit your position. There are a lot of programs and methods and lists out there that will tell you what and when to buy, but the money is made with the ones that tell you when to sell.

Have a great and profitable day

Originally Posted by propipster

Before you buy your first stock, you must have an exit strategy. Only fools buy and hold. And really it is more like buy and pray. You can buy a great stock and it shoots up but until you sell it, you have done nothing but buy the stock. Remember the money only goes in your pocket when the stock is sold. You must have some indicator or event that tells you when to exit your position. There are a lot of programs and methods and lists out there that will tell you what and when to buy, but the money is made with the ones that tell you when to sell.

Have a great and profitable day

Guess Buffet is a fool!
Buy a company and if you know that the company is sound and going forward stick with it. Eventually the market will figure it out and come around to you. That is, if you are correct in you assessment of the company.