When You Buy A Stock, Plan on Being Wrong

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In order to avoid significant loss, investors must plan their exit strategy in advance. What will they do if they are wrong? How do you define being wrong? The investor must have clarity about when or under what conditions the stock will be sold and where the stop loss will be placed. Most people prepare much more for buying than for selling. They think more about the benefit than about the possible loss. Prepare to avoid the loss.

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