Ep. 60: Andrew Horowitz: Why You Need A Stock Market Exit Plan To Be A ‘Disciplined Investor’
Investing With IBD
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The Importance of a Mental Stop
If you didn't have a plan, you would be sitting on massive losses. The stock has no memory; it's just a random number of where you bought it. You don't want to keep negotiating them down 10%. Oh, let me give it a little bit more time. If you see that the stock is not reacting well and it starts really moving around very differently than it moved before, you got to make a decision and get out of it. There's no harm in taking a profit.
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