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Nanood

7,012 Posts.

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18/03/19

13:05

Post #: 37797131
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Originally posted by F01 ↑

You need a plan buddy. Only you can do that though, because it has to be tailored to your needs.

Without a definite plan, if you hold you will be anxious when the market falls because you are "losing" potential profit, and if the market climbs you will be anxious because you will be thinking about selling to protect potential profit. If you don't hold but watch, as the market falls you will be anxious because you will be wanting to buy, but buying a falling stock is anxiety invoking, and if the market climbs you will be anxious because you are missing out. So you see it's lose, lose, lose, lose. There is no scenario where you will not be worried.

So in case you missed my point, I think you need a plan! (I know, I know, by now you are thinking subtlety is another one of my virtues ). And for me, having a long term plan has calmed the nerves and dampened the effects of daily noise.

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FYI I had a long term plan when I bought 15k NAB shares and you would have to admit that in my world I kind of did hold them long term.

Last edited by Nanood: 18/03/19
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