RE: Why hesitate to take profit?
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Taking profit feels wrong in a bull market and necessary in a bear market. The hard part is you never know which one you are in until after the fact. I started setting take-profit levels before entering — removes the emotion from the decision.
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I don't agree with you. Most people get trapped in the bull run, and I think taking profits in the bull run is more important than in the bear market.
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Fair take. I think we are talking about two different things — taking profit during a bull run (which you are right, is harder psychologically) vs having a plan before entering (which is what I meant). Both are hard in practice.