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did I take the wrong meaning there?


No you didn't Cassie, it's just where you place the emphasis.
You see the worst case scenario.
I see the fact that Mishedlo can read what is happening and come up with a plan to utilise this knowledge he has.

My point was that if you had a plan you would have the confidence to ignore this "noise" in the market and wouldn't get spooked.
Your plan may become that you don't need an exit strategy for at least 4 years and by then the shares may be that far "in the money" that you don't need one at all unless better opportunities or serious trouble come along. Sure would cure selling too early.
I suppose you have to take into account the type of stocks being purchased as well.

I've owned ANZ about 2.5 years. Straight after I bought they dropped about 30%. An exit strategy on that short a time frame would have taken me out at a loss. Because I didn't sell I am up about 80% on my ANZs and as long as they keep showing a general uptrend it's all free money from here. Doesn't mean I take my eye off the ball, just means "ride the bumps".

Exactly the same thing happened with ADB except I had a TA exit strategy (support level). The result- out with a small loss and have missed the 70% rise. Not saying this is the wrong thing to do- just putting it in for comparison.

Have you read the Buffett books I've recommended?
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