All of your purchase decisions will not be always right – that’s a fact. But it’s always hard to admit that your purchase was wrong. Don’t allow your emotion to stop you selling such shares to avoid further loss. Don’t wait the market to revisit your purchase price.William J. O’Neil, founder of the Investor’s Business Daily, advises to cut your losses at 8% below the purchase price.
Be willing to accept your investing mistakes. Doing this will save you a lot of money in the long run!
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