Experience taught me a great lesson. My problem was I do alot of research on stocks and I think i'm a pretty smart guy. I would look at a stock come to a conclusion and buy as much as I can. I would be super confident in the result so no need for stop losses.
But what if things out of the companies control happened ie change in gov. regulation, what if grades published didn't meet expectations, what if management were incompotent? By the time news has been fed to me and I had found out the true state of affairs insiders were out and indecision had set in.
