Profits

I feel as though the first piece of advice I need to give is to ALWAYS protect profits and NEVER fall in love with a stock. These are 2 things I failed to do at various points, which have cost me a lot of money.

First, protect profits. This mostly concerns penny stocks, which have very volatile trading patterns. When you are lucky enough to make some money off of these stocks, you must take some of your profits. It is up to you how much you want to sell, but it is a must to cash in on some of your gains. This leads into my second tip which is never fall in love with a stock. The first stock ever bought, which made me a good amount of money, was hard to sell at any point. I missed out on 100% more profit because I did not want to sell this stock, and ended up having to sell at a less attractive price.

Readers, please feel free to share stories with me and all of the other readers so we can learn from each other!