The biggest issue I had to overcome was to control myself

[Book scrap]

The biggest issue I had to overcome was to control myself from selling the rising stock too hastily. Like a timid coward, I quickly sold it if I went up a little.

If the stock I bought for $25 went up to $30 then I sold it out for fear of losing it again. I knew how to do it, but I've always acted the opposite way.

So I decided to take a different approach because I thought it would be difficult for me to train myself not to be intimidated all the time. Keep the rising stock intact and designate that the sell-off order can be placed at any time when it goes down the other way. I disagree with meaningless price fluctuations while looking at the market price at a certain distance. However, when it turns downward and begins to fall, it immediately sells it. If I do this, I won't lose more to the market than I gain.

If so, how do you decide when to sell?

I acknowledged that it's impossible to sell at the highest price. In fact, no one will be able to sell it at the top. It's a lie if there's always someone who can do that. Because selling a stock that keeps rising is merely an act of selling on the assumption that the time of sale is normal, and no one knows how much further it will go up.

It's like expecting the famous musical "My Fair Lady" to stop being a hit after 200 performances. Who knows if its popularity will subside after 300 or 400 performances. What's the rationale for expecting the number of performances to be that bad? There would be no theater owners who would stop the show as they watch the theater full every night unless they were stupid. It's not too late to consider stopping the show after seeing an empty seat.

I made $2.5 million from stock investments, Nicholas Davies