Home Forums Members Forum Just issued take-profit/sell alert on SLX Reply To: Just issued take-profit/sell alert on SLX

AvatarRichard Sigman
Participant
Post count: 18

Little different story here: I bought SLX in a former program and did not use tranches (all in – big mistake). Over the years I was WAY DOWN on this stock. Sometime last year I decided to average down on it in an attempt to recoup some of my losses. (Totally against Sean’s teaching, but I had the cash because of LI profits and decided it was worth the risk.) However that made me very overweight on the holding. I sold today and recovered 98% of my losses. I decided to sell at a small loss solely to free up amount of case locked up in this holding, rather than risking a huge pullback and taking another 2-3 years to recover the money. I was fortunate that this technique allowed me to recoup some losses; but the moral of the story is Averaging Down works, All In doesn’t !!! It took several years to correct that mistake.