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That morning I spent 2 hours adjusting stop losses and missed the whole rally
I was sitting in my home office in Phoenix, watching my phone buzz with alerts while I tightened my stop losses on every position. Then my buddy Jake texted a screenshot of his portfolio up 12% that day and I realized I'd been so busy trying to avoid small losses that I'd completely locked myself out of the big gains. Has anyone else caught themselves over-managing and missing the move?
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samthompson5mo ago
Wait, were you literally adjusting them all morning or just checking? I mean, I used to do the same thing where I'd be fiddling with my stops every few minutes and it killed my returns. idk if you noticed but the market usually goes against you when you're staring at it too hard. Maybe it's just me, but I think the whole idea of tight stops is a bit overrated unless you're day trading options. You probably would have been better off just setting them once and walking away instead of trying to predict every little dip. The thing is, you can't time the market on a minute by minute basis, that's just gonna drive you crazy and make you miss the big moves.
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