Comments by "J Hutt" (@jhutt8002) on "Dealing With Investment FOMO" video.

Let me add in something learned hard way: Decision making process is only as good as the area you apply it in Different time or different stock, can lead to very different decisions turning out good or bad even with everything else being same in your process. That's why it is process, it needs to continuously adjust to moving target you're chasing at.
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@RichardServello Well, I'm only about talking finnish stocks here, but usually there is some reason behind the sudden 10% jumps or falls. A news article, profit warnings, some profitable deals etc... It does help a lot to always dig up reasons for those jumps in order to learn how specific stocks behave. I've made a few nice quick trades with knowledge learned from those, avoided few falls. (and admittedly also made mistakes too)
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Also: Winning by bidding the underdog always feels better than following someone for scraps, even if you make less profit in the end.
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Well, since 2008 I spent 12 years waiting for next crash, because back then I did not have any money. Guess what? I bought a house in late 2019, and spent all my savings on it + renovation through 2020... So in covid crash I again had absolutely no chance to buy anything... So I kept waiting for second fall, just couldn't believe market jumping back up so quickly. 2021 I finally thought screw this and started trading with ~1000 eur I actually had to play with.
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I don't think you should ever lock a goal when trading. You have to be able to adjust your position, and you always know more today than yesterday. No point sticking up to outdated info. I always sell too fast. Point to get out is when you conclude it's more likely for said stock to go down than up. Even if it continues to rise, you made smarter decision by going with the knowledge you had at the time and opting sure gains rather than gambling with it. And after selling you have more liquidity to invest something you assess is more likely to make profit, than now overpriced stock you jumped out of. There are some stocks I've bought and sold again 3-4 times this year. Yes I miight have made more by just sticking on some of them (one has risen 250%, while my positions on it might have made around 70 % together counted each individual sell out), but then some of them I've made double or triple the profit I could have just by holding them. And my money would have been tied to those stocks, with uncertain profit, and I couldn't have made other winning trades, while said stocks plateaued for months. Point is: Better to win than lose. You balance your profits with uncertainty, so it's always the best practice to try to keep the odds at your favor. Not worry about the past deals.
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