No. of Recommendations: 0
>>I would like to at least break even at $10,000...<<

People have probably lost as much money "waiting to break even" as from any other cause in investing.

The market doesn't know your break-even point and it doesn't care how much you lose.

Look at each market position in terms of the future. You have x dollars as of today that could be invested in something else, including cash, versus leaving in an underwater position that may lose more. Never think in terms your cost basis when evaluating investment positions.

Just my 2 cents.

P.S.: I paid a lot to learn this lesson.
Print the post  

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement