So I say know your perimeters.
Know your company.
Set realistic targets once you have run the numbers.
Protect yourself with a stop loss.
Be prepared to change your strategy as markets and companies change in raising/lowering your stop loss and it will be very hard to go wrong.
A buy and hold strategy with no stop loss attached to wishful thinking normally leads to very big losses with the odd lottery style luck that 1 in a million have.
