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Re: Young and Concerned, But Refusing to Sell
rayden
07-08-2008, 8:21 AM | Post #2536729
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P.S. One more comment - the "haven't taken a loss until you sell" - that's just stupid. If you sell, and then buy back for the same price the same (or next, whatever) day, you are back to exactly where you were before, except for tax effects of course. Clearly buying and selling are not important per se, but holding or not holding positions during a move is important. Anything that has happened in the past is immaterial; whether you bought positions one minute or one year ago is immaterial. The only question to ask is what do you think will happen next? Answer that, and then decide if you should be positioned in or out, and buy or sell if you have to in order to get into the right position without worrying about the trades themselves. Anything else is just wishful thinking. Pretending that a loss is not "real" until it's realized and hoping for a reversal is a sure way to lose a whole lot of money. Real traders mark to market all the time.
Topics
buying
market
tax
trade
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