Hi,
I have mostly invested passively in broad sector based ETFs with a general 20 yr+ investment horizon from around 2010. I have invested consistently on a monthly basis not worrying about market timing and given we have been in a bull market the strategy has not needed much if any attention and with the advent of robo-advisors it takes even less effort now given they offer portfolio rebalancing etc.
I have over the years however dabbled in individual stocks but what I have struggled with it having a firm strategy on when to take profits. The problem I have is when I pick a stock I don't set a price target and timeline and have generally been applying the same timeline i.e. buy the stock because I believe it will rise but haven't set exit strategies.
Do people have any simple strategies? I am thinking along the lines of setting a timeline for investment, a price target and then if for example price increases by 20% I take the 20% profit out and invest elsewhere. I want to try and remove the emotion from it and be stricter.
Any suggestions and tips are greatly appreciated.
I have mostly invested passively in broad sector based ETFs with a general 20 yr+ investment horizon from around 2010. I have invested consistently on a monthly basis not worrying about market timing and given we have been in a bull market the strategy has not needed much if any attention and with the advent of robo-advisors it takes even less effort now given they offer portfolio rebalancing etc.
I have over the years however dabbled in individual stocks but what I have struggled with it having a firm strategy on when to take profits. The problem I have is when I pick a stock I don't set a price target and timeline and have generally been applying the same timeline i.e. buy the stock because I believe it will rise but haven't set exit strategies.
Do people have any simple strategies? I am thinking along the lines of setting a timeline for investment, a price target and then if for example price increases by 20% I take the 20% profit out and invest elsewhere. I want to try and remove the emotion from it and be stricter.
Any suggestions and tips are greatly appreciated.