XTRA Bitcoin Inc (CBTC)

[--FLOAT_LOCKER--]

I have to respectfully disagree with that. And your statement is contradictory. You're basically telling him to don't sell initially if the stock doesn't move his way, but to sell when it falls into oblivion days/weeks later.

The best advice here would be to tell him to enter with a plan. Know where you will get out if the trade doesn't work out, and annotate that as your risk. If you're fine with the risk and losing that amount, go in. If not, then it's too risky for you.

I just don't like seeing others losing money in the market...I've been there. It really sucks. But the old "hold on and you'll never lose" comment doesn't work. Because that becomes dead money, in which you could be using to trade other stock instead of letting it sit in a failed play.