From Jim Dines; Never dwell negatively on you losses. View them as business expenses, make them worthwhile by learning from them, & move on ... awesome!
Also:
The two things to get right are 1] Stock selection 2] Learning when to sell
The first requires heaps of study, research, & hands on experience learned in the school of hard knocks.
The second is the hardest thing to learn by far! We have all held a winning position only to see it plummet. The we have the knee jerk reaction to take quick profits, & then "pretend" we are OK while the share keeps on screaming away. Or we can learn how to maximise profits by not selling too early.
The best way to do this is to trick the mind! If we hold on and dont sell, we struggle to sleep at night with stress, worrying about our position. So the best things is to take PART profits - it it has gone up a lot, then take half profits & be free-carried on the rest. Now we have the best of both worlds: Our mind is placated because we have taken profits, our original capital is safe, yet we still have exposure to potential much higher gains.
Too many traders/investors spend all their time learning about stock selection & stock buying, yet forgot the equally, if not more important art of stock selling
