AMD strictly moderated (AMD)

[mmoy]

I like to measure my returns on a quarterly and year-to-date
basis. If I made money last year on an unrealized position,
it's no comfort if I lost money on the position this year.

One of the problems with long-term positions is that you can
lie to yourself about how well you're doing in all sorts of
different ways. I do review long-term positions from time to
time and my stops are a lot looser than in my trading account.

But I strongly avoid letting positions get out of hand on the
downside. Cut your losses short and let your winners run is
an old adage that I try to follow.