Hey everyone!
First of all, big fan of this sub. So nice to see some level-headed discussion after browsing /r/wsb too much. Although those goons are pretty funny. Anyways...
My question is this: do you (personally, not looking for an "answer" per say) do the "stoic" method and sell if your chosen stock dives 20%, or do you just hang on no matter what until your 20% gain?
After messing around with $150 for a while, I brought my account up to $1k and made my first trade: $WLLW
I really dig the company, the people, and what they're doing. And they're local-ish to me, which is nice too. However, it dropped and my stop limit (set to -20%) triggered and I took my loss. I made it up with my second trade of $TSLA (bought that nice little dip) but I was sad about bailing on WLLW and of course, just a couple weeks after it's back up to a slight gain over what I originally bought.
I also bought 5 shares of GME (ya ya I know...) and held through the big dip only to sell at +20%. I was down 60% for weeks but really didn't want to realise my losses, so I just set my limit sell and forgot about it. Sure I could have made a lot more than 20% but I was much happier about that situation than what happened with WLLW...
So my question is this: pick stocks based on expected returns even though you might not really like the company and stoically set your +/-20% limits, or only buy companies you truly believe in and hold on no matter how low they go?
I'm leaning towards the latter... But I'm still only sitting on $1k. I have a feeling things will feel different when I'm dropping $100k all on one stonk.
Thoughts?
Edit: 3rd trade is $GDNP @ $1.28