I thought you kept selling once it goes up 1%, "rinse and repeat"?
typically when it goes up $500 on my position.
i hold $10,000 at any given time, so if it goes up 5% yes i sell and take my profits.
i do not do this on Stocks, but i do it on Bitcoin.
why? because it has proven very volatile in the short term, so i want to collect my profits as a hedge.
currently I am up $4500 for the year in Bitcoin profits. i will pay Zero taxes on it because I sold some stock laggards at losses to offset the $4500 gains.
right now i hold $10,000 in BTC. it needs to drop Minus $5500 from here so Minus 55% on my position and then i will be sitting even on Realized Gains vs Unrealized Gains.
However, on the way down to $4500 in value, i would be incrementally buying on the way down and lowering my Cost Base, which mitigates the Unrealized Losses and keeps my profit static at $4500.
i do believe in the Asset Long term but that is still 7 to 10 years out IMO.
in the meantime, i look at is collecting the Premium on big Pops that always seem to fizzle out.
I actually root for it to go down more and more so i can simply build a bigger position.
GL Mate.
