...Very Timely Reminder. When to Sell and Take Your profit....

...Very Timely Reminder.

When to Sell and Take Your profit. William O'Neil

https://x.com/zakayonoel37/status/1804179128217682420

..after the first hiccup in Sept 21 ($6), holders of CHN swear they would never sell, again came the second hiccup in Jun 22 ($3.70), swearing again they won't sell, and for a second time, the stock proved that stay the course was the right way. Then came Aug 23, the $3.70 major support lows was taken out, no worries it would come back. Sadly, it never did, the stock went below $1, and holders would have regretted they were given 2 lifelines of opportunity to exit but never took it. Those brilliantly enough to have bought it in mid Apr 2020 at $1.23 gave up an 8x bagger to be up just 9.75% after a 4 year hold- brilliant buying but refusal to take profits because 800% wasn't enough as it hasn't even produce anything just yet, so when it produces it would be many times higher, so the belief. Even a term deposit yields better return than 9.75% over 4 years.

...sad but true how this has happened to so many people who had it good but refuse to part for lower than its all time high price. The anchoring bias meant that long term holders who failed to sell close to the peak must believe and hold until they can sell at the peak price again and that by holding longer, they would eventually get that price again. Except that in so many cases, the refusal to part with 20-30% lower than the all time highs ended up with them seeing all time lows, at which time they would just lock their stock in the drawer and lose complete interest.

...if this is you, it is food for thought.

...Bulls make money Bears make money Pigs get slaughtered.

...You can't make all the gains at the highest price. Great opportunities to sell at multi bags don't come with a second chance especially for stocks that have already gone into high valuations.
....and you should know to never trust any darling upcoming ASX stock to be a true long term sustainable winner, from Appen to Afterpay, they can disappoint and they have been.

All time view
CHN Stock Price and Chart — ASX:CHN — TradingView