Always have an exit strategy in place for every investment from "summary" of Stock Investing For Dummies by Paul Mladjenovic
It's crucial to always be prepared for the unexpected when it comes to investments. You can't predict the future, so having an exit strategy in place for every investment is a smart move. This strategy allows you to protect your investment and minimize potential losses if things don't go as planned. One way to approach this is to set a specific price at which you'll sell your investment if it reaches that point. This is known as a stop-loss order, and it helps you avoid holding onto a declining investment for too long. By setting a predetermined exit point, you can prevent emotions from clouding your judgment and making ...
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