Ok so I'm thinking of putting $20k in QQQ and raking in some gains.
This is in my ROTH by the way so no taxes.
Here's my plan.
Put in $20k in QQQ and set a 5% stop loss.
So for a little bit I'm risking a 5% loss ….. no biggie.
So I set a 5% stop loss and let it ride.
So I've gotta gain over 5% to have any type of gain.
Once I hit say 6% or so there's no risk anymore of losing a dime!
Of course I probably would wait to do all this when QQQ gets back close or so to it's low as we're pretty close anyways.
So are there's risks to a stop loss plan like this?
I don't see any really.
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