Notice how he addressed the NEWBIES, because he knows the experienced traders have already dumped this stock. I never ceases to amaze me when people say hold on to your long position when a stock is going down in price. You can always sell and buy back later.
NUMBER ONE RULE IN TRADING:
PROTECT YOUR CAPITAL AT ALL COSTS.
once this stock drops and the hype is gone and you look around and no one is left but you with an account that in the best case scenario has lost all its profits, or yet worse has lost all of its capital investment you will then realize what the term bagholder is really all about. If you hold long don't worry you can always sell your shares to the shorters at the bottom.
I did not sell a single share. I was a newbie one year ago. Since then I have learned a lot of lessons. I have tried many strategies. The best strategies is to buy cheap. I am long. But while am long i follow ab, clay trader, monkey and a few others. It is so unsettling to see so many put out misleading info every single time the stock moves forward. From one seasoned newbie to a less seasoned newbie ... Pick your entry point and hold and while your holding learn to fib and chart. Hope this clears up my intent.
Long live phot and to all newbies steady as she goes!
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