This has been something that's a complete plague for me for the longest time. As I got older I look pass it but every now and then this comes back to me and haunts me every time I make a trade.
You know that feeling where you bought ABC stock, and once it drops a few dollars, you KNOW you should sell, but you don't because you hope that it'll go back up, but then it doesn't, it keeps falling.. then steadies, you hear SOME good news and hope and hold. You try reading articles, giving you some more hope, but it falls a little more, few days later, it falls again, again and again. Now you're down over 30% of what you put in.. next thing you know.. its 65.. then 75%, you panic, you go onto message boards to look for insight, you then feel miserable and finally pull the trigger and sell at a 85% LOSS. You think back, if ONLY you effing sold it when it was just 5-10% down, you would have saved thousands and used it to invest or trade in something else and would have gained back that loss in no time. Nightmare right? I know we've all been through it, and some still do. Even with all the charts and fundamental analysis we try to pour into our decisions, its always our gut feeling that makes us pull the trigger, or withhold the trigger button to wait.
What kind of things have you done to discipline yourself in cutting your losses to lose the battle to fight another day, or what have you done to take some greens off the top or sell it all for the profit and not be greedy? I've gotten a little better myself in letting it go because I have confidence I can make up for the losses in the long run, or near future, but then again sometimes it comes back.