Yep I think this is worth expanding on for anyone with less experience in the market and perhaps limited experience in a correction or market crash.
1) If you feel over-extended and/or need immediate cash now for important things in your life (like paying rent, bills, school fees etc.) it might be a good idea to exit the cash that you need right now. Anxiety & fear will impact your quality of life so the first step is to make sure you can afford to spare the money you have in the market.
2) If you have money in positions that you’ve already decided are trash (e.g. that explorer that seems to raise cash more often than drilling) you might like to exit that. Take a loss on crap stocks if required.
3) Do not exit positions that you know are the best run, most solid performing stocks. These are the ones that will bounce back the strongest after this period and you might be left swimming in a sea of regret if you dump your best stocks.
4) Look away from screens, don’t sit & watch. Find distractions and keep reminding yourself that the market is cyclical, you are committed to riding this out whether it’s 1 more day, 1 year or even longer.
GLTAH.
AXE Price at posting:
$1.10 Sentiment: Hold Disclosure: Held
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