But the decision of when to sell has a far greater impact on our investing. Even when we know that we should be selling, we have to deal with emotions that drive us to hold on. They just want to buy a great stock and wait for the profits to roll in. When you don't have a plan that forces you to act, then you will constantly be looking for reasons not to sell. Don't make a buy unless you have a set stop-loss point in mind, and then honor it.

Source: Wall Street Journal May 28, 2022 14:25 UTC