I believe I have a good process when it comes to analyzing stocks, deciding good price points, and having a view on my selling price. I usually just buy stocks and (try) to sell at a certain price. I keep it simple.
The challenge that I have is, I have a very clear view of what I am looking for when it comes to the sell price, however, when the stock hits that price point, somehow FOMO kicks in, and I always believe that it can go higher and continue to hold on, as I think I can get more profits and inevitably the price goes down without me hitting the sell button.
A good example of this was yesterday, I bought a significant part of my portfolio in Apple at around $130, I have several months waited for it to hit my sell price of $155 (which it did yesterday) and I didn’t hit the sell button.
Does this happen to any of you guys and how do you believe in your conviction to sell even though the stock is going up?
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