Let's sell our position in iShares MSCI TAIWAN ETF for a 6% gain.
We made a 6% gain in 6 trading days. Congratulations!
Most newbie traders go for big hits and think that a 6% gain is not good. That can't be further from the truth.
Think about this. A 6% gain each week is a 24% gain a month. A 24% gain each month is a 288% gain a year. So if you start out with $500. At 288% a year, your $500 would turn into almost $100,000 after 5 years!
I think iShares MSCI TAIWAN ETF still has plenty of upside to it. So you might wonder why I'm taking profits if I think it's going higher. It's not about money. It's about discipline. If you trade with discipline, money is the beautiful end result. When you trade, focus on discipline and execution, not on the money.
In the video below, I explain my reasons for selling.
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