Hey I’m trying to formulate a good exit strategy for when this pops. Does anyone know if there is a percentage dip or other factors that could point out when the peak has been hit so I know when to sell? I’m selling on the way down but I want to catch it early on the way down and not sell too early on just a dip.
I’ve seen a couple good vids like this and they usually talk the same concepts. I love the reinforcement and education.
I’ve been doing short swing trades since about Dec so I’m obviously not an expert. And I know a lot of people throw a hissy as soon as you even mention the word “exit” in relation to GME & AMC. But as Sun Tzu says…
“Now the general who wins a battle makes many calculations in his temple ere the battle is fought. The general who loses a battle makes but few calculations beforehand.”
We can’t know when this will happen or how high things may go, but if you don’t make a plan then you will likely be caught up in emotion and energy and make mistakes that can cost you greatly. One item I have for example deals with one of the psychological levels I think may be hit. I have a feeling some paper hands may want to cash in about $100 as it’s an exciting level. So I will be watching that as a time to sell a small amount of stock, wait for that likely dip and buy back with more shares. Or if it’s shooting up fast then I’ll watch again at each $25.
I am an analytical person and more than a little jaded at times. 🙂 But I believe up to and even over $1000 is possible. Obviously that’s life changing numbers. If it can hit $1500 even more so. And so on. It’s not going to be fast and will probably have several cycles of dips and growth. I just want to have some ideas on how to handle the growth, ride out the dips and then bring in as close as reasonably expected to maximum value at the end (saving some for the ride down in case there’s another push).
Be ready, stay cool, enjoy the battle and feast on the spoils of your hedgy foes when the sun sets.
That’s what I’m counting on too. Hope the rest of the world does.
Even if it peaks just over $1500 and I catch it early on the way down I could be looking at over 1M after the short term gains taxes. So I’m holding strong for 3k, 5k, whatever the moon is…and don’t mind waiting until things start to drop hard.
But if I didn’t take time to look at those numbers and plan things out for what matters to me I could panic at $750, for example.
Thanks for the advice. I’m new to the stock market but I have been researching how everything works so I can be in a state of calm knowing what’s happening rather then panic selling. I have relied a lot on people who know a lot more then me to explain and point out certain things.